Sensex slump to lowest in four months
Reports said the sell-off was initially sparked by a slump in Nifty futures listed on the Singapore exchange, which are now trading at a discount to domestic Nifty futures.
The BSE Sensex fell around 2.5 per cent, while the broader Nifty lost around 2.5 per cent, heading towards their steepest daily fall since March 26.
Both indexes marked their lowest intraday level since January 7.
Minister of State for Finance Jayant Sinha last month said notices had been issued in 68 cases, with a total tax demand of Rs 602 crore ($94.61 million). But Finance Minister Arun Jaitley has estimated claims could eventually stand at as much as Rs 40,000 crore.
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