Electric cab-hailing platform BluSmart remained non-operational on Thursday across Delhi-NCR, Bengaluru, and Mumbai, as the market regulator cracked down on its co-founder over alleged misuse of funds at an affiliated company. BluSmart app, that offered more than 8,000 taxis in the three metros, stopped taking bookings on Wednesday evening and remained unoperational on Thursday as well.
Gensol Engineering's promoters treated the listed company as a proprietary firm, diverting corporate funds to buy a high-end apartment in The Camellias, DLF Gurgaon, splurging on a luxury golf set, paying off credit cards, and transferring money to close relatives, Sebi revealed in its interim order.
Gensol Engineering, the beleaguered firm that came under market regulator Sebi's lens for fund diversions and governance lapses, said that its independent director Arun Menon has resigned with immediate effect.
Once deployed and operational, it will be used to support the satellite imagery requirements of various agencies within the government of Singapore.
The Central Bureau of Investigation on Wednesday conducted searches at the premises of Sunak Bali, who was an aide of Satya Pal Malik when he was the governor of Jammu and Kashmir, and 11 other locations in Delhi and Rajasthan in the alleged insurance scam case, officials said.
There was no word on the much-anticipated procurement of 26 naval variants of Rafale fighter jets by India from France.
The CBI after registering the FIRs carried out searches on Thursday morning at 14 locations in Jammu, Srinagar, Delhi, Mumbai, Noida in Uttar Pradesh, Trivandrum in Kerala and Darbhanga in Bihar, they said.
Kirloskar siblings Rahul and Atul on Saturday raised questions over corporate governance of Kirloskar Brothers Ltd, led by their warring brother Sanjay, after having been cleared of insider trading charges labelled against them.
The contract was cancelled two weeks ago due to the delay in the delivery of the vessels, sources said. The contract to build five warships was signed with the company in 2011, much before the Reliance Group took over the Gujarat-based shipyard from its erstwhile owner Nikhil Gandhi.
The government is set to divest its shareholdings in defence PSUs, Garden Reach Shipbuilders & Engineers Ltd and Mishra Dhatu Nigam Ltd (MIDHANI). It will also divest its shareholding in BEML Limited, said Shripad Naik. Minister of State for Defence, on Monday. The government has invited preliminary bids to sell its 26 per cent stake in BEML along with transfer of management control.
Kirloskar Brothers Ltd (KBL), led by Sanjay Kirloskar, on Tuesday accused four firms under his brothers Atul and Rahul of trying to "usurp" its legacy of 130 years and trying to mislead the public, which has been refuted by the other side. As the family feud simmers, KBL in a letter to capital markets regulator Sebi claimed that recent press releases by Kirloskar Oil Engines Ltd (KOEL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd (KPCL) and Kirloskar Ferrous Industries Ltd (KFIL) "have sought to usurp the legacy" of KBL. Also, they attempted to pass off the legacy and track record of KBL as that of their own, the letter said.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Here are some of the glimpses of the celebration
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'At no point did Shri Rijiju recommend that payment be released but only requested that 'kindly get this petition considered in your ministry sympathetically on priority',' it said making public the copy of the letter.
Praj Industries Ltd will seek membersÂ’ nod for amalgamation of Praj Engineering Ltd with the company.
Mumbai police's elite crime branch has come under fire from a special court for its "biased" probe into the alleged sabotage of business tycoon Anil Ambani's helicopter.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Godrej Agrovet Ltd, the agri-business arm of leading conglomerate Godrej Ltd, plans to enter the dairy farming business. The company is in talks with at least two leading Israeli dairy farm technology providers.
The warships will be armed with BrahMos supersonic cruise missiles which can reach targets 295 km away.
Either the stake in these companies will be sold or they may partner private firms.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
Kirloskar Oil Engines files EoI for PSIDC stake in Punjab Tractors
Private shipyards like the Reliance Defence and Engineering Limited are likely to respond to the navy's Request for Information (RFI) along with state-run shipyards.
Punj Lloyd Ltd said on Monday it has entered into a joint venture with Kingdom of Saudi Arabia to form a joint venture company with a share capital of two million Saudi Riyals.
Warship INS Beas, an advanced guided missile frigate, was commissioned by the Indian Navy on Monday for deployment in security operations.
The Special Task Force of Kolkata Police on Sunday arrested three persons from the southern part of the city for their alleged links to Pakistan's Inter Services Intelligence.
The Pune-based Rahul Bajaj group, thanks to an amazing stock market ride by Bajaj Finance and Bajaj Finserv, has grabbed third spot, pushing the Aditya Birla group down to fourth position.
Saying it was not a worry, the Indian Navy said they were monitoring all such activities.
Kirloskar Oil Engines to consider the scheme of amalgamation of Kirloskar Power Supply with the company.
Kinetic Engineering Ltd, which sold a defective motorcycle to a customer in 2001, has been held guilty of 'gross' deficiency in service and unfair trade practice by a Delhi consumer court which also asked the company to refund him the bike's price.
The central government's highway award and construction target for the current fiscal is dominated by the Bharatmala scheme.
The National Consumer Commission has told KEL to refund the cost of Rs 41,970, besides compensation of Rs 5,000.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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