Numeros Motors is also planning to come up with a passenger vehicle four-wheeler or a three-wheeler by 2027.
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. "I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. "We have crossed that threshold as well. Most of the lenders have approved it," a senior Vedanta executive said in a recent bondholder conference call.
Tata Motors will soon submit a detailed report on the upcoming manufacturing plant in Tamil Nadu's Ranipet district and a decision, on whether the facility will churn out passenger or commercial vehicles, will be taken by the company on the basis of market trends, state's industries minister TRB Rajaa said on Thursday. "They are keeping the options open, and market trends will determine it (the type of vehicles the plant will make). "They will quickly come up with a detailed report on that," Rajaa said.
Last month, the parliamentary watchdog had concluded that Sunak's failure to reference his wife's shares in Koru Kids arose out of "confusion and was accordingly inadvertent".
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
Fair trade regulator CCI on Monday approved HDFC Bank's acquisition of 4.99 per cent shareholding in HDFC ERGO General Insurance Company. In June, HDFC Bank had said its board has given approval to buy more than 3.55 crore shares in group firm HDFC ERGO General Insurance Company for over Rs 1,906 crore from the parent company Housing Development Finance Corporation (HDFC).
Argentina striker Lionel Messi will leave Barcelona despite both parties having reached an agreement over a new contract, the La Liga club said on Thursday, citing economic and structural obstacles to the renewal of deal.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Co-owner Vijay Mallya resigned as a director of the Force India Formula One team but will continue to serve as principal and shareholder.
Modi, a diamond jeweller whose designs have been worn by Hollywood stars, is now believed to be running a new business, which describes itself on the UK's Companies House register as a wholesale trader in watches and jewellery and a retailer of watches and jewellery in specialised stores.
While the government has infused huge capital into PSBs, the same has largely been used to mitigate losses and has failed to contribute meaningfully to credit growth.
The ED officer will carry the latest charge sheet filed by the agency against Modi's wife Ami and the recent attachments made by it in the case.
The documents also alleged that Ibrahim's right-hand man Muhammed Iqbal 'Mirchi' Memon amassed huge properties in the UK.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
District Judge Marie Mallon said there were substantial grounds to believe that Nirav Modi would fail to surrender if granted bail.
While Waryam Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders.
'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
Discrimination between old and new customers have come down after base rate.
News of all that transpired on and off the football field
After getting the approval of raising up to Rs 30,000 crore (Rs 300 billion) through issuance of tax-free bonds this financial year, infrastructure finance companies, Housing and Urban Development Corporation (HUDCO) and Power Finance Corporation (PFC), have thrown open their subscriptions under the private placement route.
Vijay Mallya, who is being pursued by Indian authorities over unpaid loans tied to his defunct Kingfisher Airlines, has taken steps that could see India disappear from the name of his Formula One team.
The country's biggest carmaker is now more valuable than the combined market cap of the three leading automobile companies in the country: Tata Motors (Rs 1,18,684 crore), M&M (Rs 86,336 crore) and Ashok Leyland (Rs 34,700 crore).
There is as yet no clarity on how the process of consulting with the RBI Governor, initiated under Section 7 of the RBI Act, would unfold in the coming days. The government is keen that its suggestions made in the public interest should be heeded by the central bank, says A K Bhattacharya.
Ace midfielder David Beckham has raked in a whopping 10.7 million last year in sponsorship deals, doubling his payout from the previous 12 months.
Liverpool's parent company, owned by Americans Tom Hicks and George Gillett, made a loss of 42.6 million pounds last year mainly due to interest payments to service the debt taken out to buy the club.
Demerging print and TV news businesses will allow for separate investment by interested players.
The company's statement of accounts filed at the Companies House reveals that its losses have nearly trebled despite a 42 per cent rise in revenues. The company acquired its first brewery in India in January as part of its efforts to capture 10 per cent of the booming market. Pre-tax losses at the UK-based company hit 13.1 million pounds in the 12 months to the end of July last year against a loss of 4.4 million in the same period a year earlier, The Daily Telegraph reported.
The Rs 100 crore infusion will well-capitalise the company to drive its new strategy and growth plans.
In an SEC filing dating back to 1997, he figures as "J Vallabh".
Given the strong growth in Asia and easy monetary stance taken by central banks other than the US Federal Reserve (US Fed), overseas investors will soon start re-investing in risky assets, says Abhiram Eleswarapu, head of equity research, BNP Paribas Securities India.
Larsen & Toubro Ltd said on Tuesday the country's leading housing finance company Housing Development Finance Corporation and HDFC India Real Estate Fund will acquire a 25 per cent stake in L&T Urban Infrastructure Ltd.
Most sold property or plunged their families deeply into debt to pay labour recruiters' fees
Sources say investors of the company have expressed their desire to speak to the management shortly and it could be about discussing Yadav's role in the company.
According to TimesJobs.com's latest Compensation and Benefit survey, employees prefer in-hand salary rather than medical facilities, post-retirement benefits and other perks.
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
AND, W, Biba step up their game worldwide. While global brands go all out to woo India customers.
It quickly went from being a darling of investors to a liability
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