New Delhi: InterGlobe Aviation, parent of IndiGo airlines, on Tuesday informed that it received a penalty order of around Rs 117.52 crore from the Joint Commissioner of Central Tax and Central Excise, CGST Kochi Commissionerate.

The order, which issued a penalty of Rs 1,17,52,86,402, relates to the denial of input tax credit for the financial years 2018–19 and 2021–22, the airline said in an exchange filing.

“The department has denied input tax credit (ITC) availed by the company and has issued a demand order along with a penalty,” the filing said.

“The company believes that the order passed by the authorities is erroneous. Further, the company believes that it has a strong case on merits, backed by advice from external tax advisors,” it further said.

Accordingly, the company will contest the same before the appropriate authority, it added.

InterGlobe Aviation added that the order does not have a significant impact on its financials, operations or other activities of the company.

“There is no significant impact on financials, operations or other activities of the Company,” it added in its regulatory filing.

Interglobe Aviation Limited shares dipped by Rs 95 or 1.64 per cent in intra-day trading. The shares had opened almost flat at Rs 5,794.50 apiece.

The carrier on November 29 announced new direct routes and frequency additions from Navi Mumbai International Airport (NMIA), strengthening connectivity from the newly inaugurated gateway to key domestic destinations such as Coimbatore, Chennai, Vadodara and North Goa.

IndiGo earlier this week said it has completed the update on the mandatory Airbus system enhancement across its A320-family fleet after global flight operations were disrupted due to a software issue in the Airbus A320 family of aircraft.

All 200 aircraft have now been fully updated and compliant as required, said the Indian carrier.

Meanwhile, earlier in the day, an IndiGo flight from Kuwait to Hyderabad was diverted to Mumbai after authorities at Hyderabad Airport received a bomb threat.

Official sources confirmed that flight 6E-1234 was diverted midair after a threat message was received at the customer support at Rajiv Gandhi International Airport (RGIA) at 05.12 a.m.

Meesho, India’s leading e-commerce platform, is slated to launch its highly anticipated IPO from 3 to 5 December 2025. The e-commerce company has set the Meesho IPO price band at Rs 105 to Rs 111 per equity share. Meesho is today the leading e-commerce player in India in terms of order volume as well as one of the country’s most popular shopping apps.

Here’s a list of important Meesho IPO details to help you make an informed investment decision.

1. IPO date

The e-commerce firm’s public issue will be open for subscription from December 3 to December 5, 2025.

2. IPO price

The Bengaluru-based company has set a price band of Rs 105 to Rs 111 per share. 

3. IPO size

The e-commerce company plans to raise Rs 5,421 crore. Out of this amount Rs 4,250 crore is intended through the issuance of fresh shares and the remaining Rs 1,171.20 crore is reserved for the OFS route. At the high end, Meesho’s valuation stands at Rs 50,096 crore.

4. IPO lot size

A bidder will be able to apply for the upcoming IPO in lots with each lot of the book build issue comprising 135 company shares.

5. Minimum investment

A retail investor would require a minimum investment of Rs 14,985 to bid for at least one lot and in multiples thereafter.

6. IPO allotment date

The allotment of shares is expected to be finalised on December 8, 2025.

7. Allottees’ share

The successful allottees will receive the company’s shares in their respective demat accounts on December 9, 2025. 

8. IPO listing date

The public issue is proposed for listing on the BSE and the NSE with the most likely date for share listing on 10 December 2025.

9. IPO registrar

KFin Technologies is the official registrar of the fresh capital-cum offer for sale.

10. IPO lead managers

Kotak Mahindra Capital, JP Morgan India, Morgan Stanley India, Axis Capital and Citigroup Global Markets India are the lead managers of the public issue.

The federal government is reportedly considering the abolition of one of the schemes for importing used cars while proposing stricter regulations for the two remaining schemes.

The Ministry of Commerce has submitted a summary to the Economic Coordination Committee (ECC) of the cabinet, recommending the discontinuation of the Personal Baggage Scheme.

The other two schemes — Transfer of Residence and Gift Scheme — are being proposed for tighter regulation, with measures suggested to curb misuse.

“Different proposals are under consideration to tighten the Gift and Transfer of Residence schemes, while the Baggage Scheme is expected to be abolished. The ECC will take the final decision on this matter,” confirmed senior government sources.

The auto industry has strongly opposed large-scale imports of used vehicles, citing concerns over the potential impact on local manufacturing.

The sector presented data covering December 2024 to October 2025, showing a sharp resurgence in used-car imports during this period.

In contrast, regional peers maintain very limited used-car inflows: India reports virtually zero imports, Vietnam stands at 0.3%, and Thailand at 1.2%.

The industry argues that such restrictions are intended to protect domestic automotive value chains.

Pakistan has taken a different approach. After Notification 1895 issued by the Ministry of Commerce on September 30, 2025, imports of vehicles up to five years old were permitted.

Reports indicate that after June 2026, this age limit may be removed entirely, potentially opening the market to large-scale inflows of aged vehicles.

The local auto industry is a key contributor to the economy, comprising roughly 1,200 factories, providing 2.5 million jobs, generating Rs500 billion annually in government revenue, and attracting approximately $5 billion in foreign investment.

“Import-friendly policies risk diluting these gains at a time when industrial revival and localisation are declared priorities,” said Shehryar Qadir, Senior Vice Chairman of the Pakistan Association of Automotive Parts & Accessories Manufacturers (PAAPAM).

Of the 45,758 vehicles imported into Pakistan between December 2024 and October 2025, nearly 99% came from Japan, which aligns with local right-hand-drive standards.

Other countries contributed minimal numbers: Thailand (130 units), the US (55), Jamaica (49), Germany (47), Australia (22), China (20), and the UAE (5).

The industry estimates that local vendors faced losses of roughly Rs50 billion during this period.

The impact on foreign exchange is also significant: while documented banking-channel imports for local manufacturers cost around $10,138 per vehicle, used-car importers reportedly spend about $14,010 per unit, much of it through informal channels.

While the government is drafting a new Auto Policy to strengthen domestic manufacturing, stakeholders remain split on whether localisation efforts can succeed alongside a liberal used-car import regime.

The data suggests that Pakistan is an outlier among manufacturing economies — both in policy direction and market outcome.