Dev Chatterjee

All stories by Dev Chatterjee

Biocon chief: Sebi's insider trading laws need an overhaul

Biocon chief: Sebi's insider trading laws need an overhaul

Rediff.com2 days ago

When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.

Tata, Reliance ready for mother of all battles

Tata, Reliance ready for mother of all battles

Rediff.com20 Jul 2021

'The competition between the two is definitely going to be of great interest to the Indian market.'

Kirloskars latest business family to feud over settlement

Kirloskars latest business family to feud over settlement

Rediff.com17 Jul 2021

Sanjay Kirloskar, promoter of Kirloskar Brothers, moves Supreme Court to enforce a family settlement signed in 2009.

Will Sudhir Valia, Suraksha's 'deal maker' manage to bag Jaypee Infra?

Will Sudhir Valia, Suraksha's 'deal maker' manage to bag Jaypee Infra?

Rediff.com7 Jul 2021

With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.

Tata vs JioMart: The next big corporate battle to watch

Tata vs JioMart: The next big corporate battle to watch

Rediff.com29 Jun 2021

Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.

Adani group strikes first coal from its Carmichael mine in Australia

Adani group strikes first coal from its Carmichael mine in Australia

Rediff.com25 Jun 2021

The Adani group struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal. The project had faced protests from a section of population with several banks even refusing to fund it. The group, however, went ahead with the project which included construction of a brand new railway line connecting an Australian port to the mine -- situated 300 kilometers away in Queensland.

Covid impact: Million dollar M&A deals sealed on phone, Zoom calls

Covid impact: Million dollar M&A deals sealed on phone, Zoom calls

Rediff.com17 Jun 2021

Some buyers are insisting on a clause in the agreement that the whole deal hinges on physical verification at a later date with some part of payment kept in escrow.

Coffee Day stares at bankruptcy as asset sale fails to make headway

Coffee Day stares at bankruptcy as asset sale fails to make headway

Rediff.com15 Apr 2021

Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.

What is the cost of Cyrus Mistry's exit from Tata Sons?

What is the cost of Cyrus Mistry's exit from Tata Sons?

Rediff.com7 Apr 2021

With the Supreme Court not getting into the valuation part and leaving it to the two parties, lawyers said there was nothing much for Mistry Group to negotiate.

Reliance Infra sells HQ in Mumbai's Santacruz to YES Bank for Rs 1200 cr

Reliance Infra sells HQ in Mumbai's Santacruz to YES Bank for Rs 1200 cr

Rediff.com2 Apr 2021

The entire proceeds from the sale of Reliance Centre will be utilised only to service YES Bank debt.

Even as old ones lie unsolved, new cases head to bankruptcy courts

Even as old ones lie unsolved, new cases head to bankruptcy courts

Rediff.com30 Mar 2021

Even as lenders are getting ready to send more companies to bankruptcy courts from this week, several old cases are still awaiting resolution with no clarity on the completion of the process. This includes some high profile cases from the first list of 40 companies including Videocon Industries, Bhushan Power and Steel and Lavasa Corporation, sent by the Reserve Bank of India (RBI) for resolution. The delay is mainly due to litigation and late clarifications by various government agencies including the Reserve Bank of India and litigation by the Enforcement Directorate.

How India can protect itself from cyber attacks

How India can protect itself from cyber attacks

Rediff.com18 Mar 2021

The recent report in the New York Times that China had brought India's financial capital - Mumbai - to a halt by hacking the electricity supply grid has not come as a surprise to the CTOs (chief technology officers) and cyber security experts. Indian companies, including critical infrastructure providers such as power grids, ports and radar systems, lack the IT infrastructure to prevent hacking from hostile state actors like China and North Korea, warn security experts. Recently, the United States government warned of yet another breach of critical systems tied to Microsoft Exchange email systems that the company has blamed on China. The breach has impacted thousands of organisations in the US and its impact on India is still unknown.

Lodha's Macrotech seeks debt moratorium as sales tank 69%

Lodha's Macrotech seeks debt moratorium as sales tank 69%

Rediff.com18 Feb 2021

The pandemic caused construction delays at its ongoing projects due to several factors such as lockdowns enforced by government agencies, work-stoppage orders, disruptions in the supply of materials and shortage of labour resulted in failure to meet development milestones.

Winners and losers amid the Covid-19 pandemic

Winners and losers amid the Covid-19 pandemic

Rediff.com5 Feb 2021

CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.

Indian Hotels in race to take over Mysuru's Lalitha Mahal Palace

Indian Hotels in race to take over Mysuru's Lalitha Mahal Palace

Rediff.com4 Feb 2021

The palace, currently run by JLR, will be offered to bidders on a long-term management contract.

How Piramal managed to outbid Oaktree, Adani for DHFL

How Piramal managed to outbid Oaktree, Adani for DHFL

Rediff.com24 Jan 2021

When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.

Kumar Mangalam Birla has a piece of advice for India Inc on future crisis

Kumar Mangalam Birla has a piece of advice for India Inc on future crisis

Rediff.com21 Jan 2021

While asking firms not to worry about sharp volatility in prices, Birla said companies must make sure they do not get caught in 'comorbidities'.

Budget should reduce income tax rates, invest in infrastructure: CEOs to FM

Budget should reduce income tax rates, invest in infrastructure: CEOs to FM

Rediff.com18 Jan 2021

Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.

Air India bid: US fund ready with war chest of 'billions'

Air India bid: US fund ready with war chest of 'billions'

Rediff.com24 Dec 2020

For the AI bid, Interups has joined hands with a few employees of the airline, and plans to raise funds by splitting some of its infrastructure-related assets into an aviation InvIT, which will have underlying assets such as air routes, ground handling, repairs, and training etc.

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