Ruchika Chitravanshi, Dev Chatterjee

Stories by Ruchika Chitravanshi, Dev Chatterjee

Nirmalaji May Stick To Fiscal Deficit Target

Nirmalaji May Stick To Fiscal Deficit Target

Rediff.com   26 Jun 2024

'Any finality in such matters requires political views. We will review it closer to the full Budget.'

From bricks to stocks: Indian family houses take leap with new-found wealth

From bricks to stocks: Indian family houses take leap with new-found wealth

Rediff.com   25 Jun 2024

Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.

'Private Sector Must Create Jobs'

'Private Sector Must Create Jobs'

Rediff.com   25 Jun 2024

'The private sector believes that some enablers in labour-intensive sectors like apparel, toys, tourism, and media retail, can unlock a lot of jobs.'

ICAI, MCA secretary discuss road map to create big Indian companies

ICAI, MCA secretary discuss road map to create big Indian companies

Rediff.com   24 Jun 2024

The Institute of Chartered Accountants of India (ICAI) has held discussions with ministry of corporate affairs (MCA) secretary Manoj Govil on the 'Aggregation of CA Firms' and the roadmap to create big Indian firms, a press statement by ICAI said.

Nirmalaji Listens To Economists' Ideas

Nirmalaji Listens To Economists' Ideas

Rediff.com   20 Jun 2024

'The Budget needs to focus more on social welfare schemes.'

What Will Keep Nirmalaji Busy This Year?

What Will Keep Nirmalaji Busy This Year?

Rediff.com   17 Jun 2024

Fresh plans of privatisation or divestment in central public sector enterprises and public sector banks might take a back seat this financial year because these may require a large consensus among coalition partners.

I&B holds meet to discuss Big Tech revenue sharing

I&B holds meet to discuss Big Tech revenue sharing

Rediff.com   13 Jun 2024

The ministry of information and broadcasting (I&B) on Wednesday held an inter-ministerial meeting with various departments to discuss issues regarding revenue sharing between Big Tech companies and digital news publishers, according to sources. The meeting - chaired by I&B Secretary Sanjay Jaju - invited senior officials from the ministry of corporate affairs (MCA), Competition Commission of India (CCI), ministry of electronics and information technology (Meity) and departments of promotion of industry and internal trade, legal affairs and consumer affairs.

Beneficial ownership norms in focus as MNCs face scrutiny

Beneficial ownership norms in focus as MNCs face scrutiny

Rediff.com   12 Jun 2024

The latest ruling by the Registrar of Companies (RoC) in the LinkedIn Technology Information case for violating significant beneficial ownership (SBO) norms has brought the amended rules into the spotlight. Experts suggest that more entities, particularly multinational companies (MNCs), are expected to face greater scrutiny. "Companies are closely watching this space.

Moody's Concerns Over Coalition Challenges

Moody's Concerns Over Coalition Challenges

Rediff.com   8 Jun 2024

Moody's Analytics said that the reduced political stability and the need for consensus building that is inherent with a coalition government, might erode investor confidence in the near term.

LIC's Adani group portfolio value surges 51.6% at Rs 66,000 crore

LIC's Adani group portfolio value surges 51.6% at Rs 66,000 crore

Rediff.com   3 Jun 2024

Government-owned Life Insurance Corporation of India (LIC) has seen substantial gains from its investments in Adani group shares, which have experienced a significant recovery over the past year. The value of LIC's stake in Adani group companies surged by 51.6 per cent, or Rs 22,591 crore, reaching Rs 66,388 crore as of Friday's close. This compares to Rs 43,797 crore on May 31 last year, according to stock exchange data.

Adani group to hit the road this week to raise up to Rs 33,254 crore

Adani group to hit the road this week to raise up to Rs 33,254 crore

Rediff.com   28 May 2024

The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.

'Banks will continue infrastructure projects financing'

'Banks will continue infrastructure projects financing'

Rediff.com   26 May 2024

'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'

Hindujas' RCap buy faces further delay

Hindujas' RCap buy faces further delay

Rediff.com   24 May 2024

Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.

Noel Tata's three children to be on five Tata Trusts' board seats

Noel Tata's three children to be on five Tata Trusts' board seats

Rediff.com   23 May 2024

Noel Tata's children - Leah, Neville, and Maya - have been appointed to the boards of five philanthropic organisations of Tata Trusts, which oversees the $150-billion Tata group. The move is being seen as part of the Trusts' succession plan. Noel Tata's wife Aloo is the daughter of Pallonji Mistry, whose family owns an 18.5 per cent stake in Tata Sons, the holding company of Tata group.

Dharavi, Racecourse Deals Reverberate In Mumbai Polls

Dharavi, Racecourse Deals Reverberate In Mumbai Polls

Rediff.com   17 May 2024

Despite Dharavi being located in the Mumbai North Central constituency and Mahalaxmi Racecourse in South Mumbai, the issues have caught the attention of all parties and their candidates.

Will Raebareli Also Go The Amethi Way?

Will Raebareli Also Go The Amethi Way?

Rediff.com   16 May 2024

'Sonia did not visit this place once since she won. Who's to say they won't lose this one, too?'

Amethi Misses Rahul Vs Smriti Contest

Amethi Misses Rahul Vs Smriti Contest

Rediff.com   14 May 2024

'If the Congress loses this time, Rahul Gandhi will not look back at Amethi ever again.'

Getting future-ready: Govt may tweak IBC to factor in climate change

Getting future-ready: Govt may tweak IBC to factor in climate change

Rediff.com   7 May 2024

The government is contemplating changes to the Insolvency and Bankruptcy Code (IBC) to deal with environmental claims and liabilities of defaulting companies to make the law future-ready and meet climate action goals, sources told Business Standard. Currently, the IBC has various categories of claims and creditors, including those related to environmental liabilities.

Who Will Take Over The Godrej Empires?

Who Will Take Over The Godrej Empires?

Rediff.com   6 May 2024

Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.

Adi-Nadir family's open offer for Astec

Adi-Nadir family's open offer for Astec

Rediff.com   2 May 2024

The Adi/Nadir Godrej family, along with other family members/trusts, has made an open offer to the shareholders of Astec Lifesciences to acquire an additional 26 per cent stake from the public as part of the family settlement agreement (FSA), according to an announcement to the stock exchanges on Wednesday. The offer, made at the price of Rs 1,069.75 per share, was triggered by the Adi/Nadir family's plan to acquire a 20.84 per cent stake in Godrej Industries (GIL) from the Jamshyd Godrej/Smita Crishna Godrej family, according to the FSA announced on Tuesday.