Two investment firms, together accounting for 17.88 per cent of the paid-up share capital of Zee Entertainment Enterprise Ltd (ZEEL), have sought the removal of the current managing director Punit Goenka from the board of the company. The two investment firms are -- Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC, the largest shareholder of ZEEL. The two firms have called an extraordinary general meeting of shareholders seeking to remove Punit Goenka.
Bird Group's executive director Ankur Bhatia died on Friday at the age of 48 following a massive cardiac arrest.
Meet the winners of the past seven editions of the T20 World cup.
Alec Baldwin discharged a prop firearm on the set of his movie Rust that killed the film's director of photography and wounding the director, the authorities said.
The Tata group firm has enhanced its product portfolio through "targeted acquisitions" as it aspires to be a formidable player in the FMCG category, said Chandrasekaran, who is also the chairman of Tata Sons. Besides, it has stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience, he said in his message to shareholders in the latest annual report of TCPL.
Future Retail Ltd (FRL) on Wednesday held a meeting of its shareholders to consider and approve the sale of the company's retail assets to billionaire Mukesh Ambani's Reliance Retail Ventures Ltd. The meeting was chaired by Shailesh Haribhakti, FRL said in a regulatory filing. Haribhakti has been appointed by the NCLT to chair the meeting. The result of the voting will be announced in due course, it added.
In a significant development, the Competition Commission of India (CCI) on Friday suspended its more than two-year-old approval for Amazon's deal to acquire stake in Future Coupons Pvt Ltd and also imposed a Rs 202 crore penalty on the e-commerce major for certain contraventions. This comes amid a bitter legal battle between Amazon and Future Group over the latter's proposed Rs 24,713 crore-deal with Reliance Retail Ventures Ltd (RRVL). Against this backdrop, Future Group had complained to the CCI.
The battle for the two remaining spots at the ICC Men's T20 World Cup 2022 takes place in Zimbabwe next month with the match schedule now confirmed for the eight participating teams.
The termination of the pact comes after the deal with the Brazilian government for supply of 20 million doses of the vaccine landed in controversy and attracted investigation by authorities in that country.
Internet giant Google will invest USD 1 billion in telecom major Bharti Airtel, which includes equity investment as well as a corpus for potential commercial agreements, to be identified and agreed on mutually agreeable terms over the course of the next five years.
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
The Income Tax department on Friday conducted separate 'survey operations' at the premises of online news portals Newsclick and Newslaundry in New Delhi, officials said.
Fair trade regulator CCI on Friday ordered a probe against Google for its alleged abuse of dominant position. "In a well-functioning democracy, the critical role played by news media cannot be undermined, and it needs to be ensured that digital gatekeeper firms do not abuse their dominant position to harm the competitive process of determining a fair distribution of revenue amongst all stakeholders," CCI said. It added that the Commission is of prima facie view that Google has violated provisions of Section 4 of the Competition Act, 2002 which pertains to abuse of dominant position.
Ace investor Rakesh Jhunjhunwala on Thursday picked up one crore shares of Edelweiss Financial Services for an estimated Rs 55 crore through the open market route.
Take-Two Interactive Software Inc has been hit with a copyright infringement lawsuit over its depiction of tattoos belonging to National Basketball Association stars LeBron James and Kobe Bryant in a popular video game.
A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms.
The Delhi high court on Wednesday directed Facebook and Google to remove alleged derogatory material related to Bharatiya Janata Party leader Sasikala Pushpa who claimed that her image was being tarnished by purported morphed photos and videos with a man on social media.
The application was filed in 2006 by Motorola Mobility LLC, now changed to Google Technology Holdings LLC for method and apparatus of providing text messages
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
'We look forward to seeing them show off their knowledge and hard work as they square off against the dictionary on the national stage.'
Sheer gowns, plunging necklines... the Golden Globes 2020 red carpet was all about risque fashion.
Edtech major Byju's has raised over Rs 363 crore (about USD 50 million) in funding from Maitri Edtech and IIFL's private equity fund, according to regulatory documents. Over the past few months, Byju's has raised funding from a slew of investors that has placed the edtech major among the most-valued start-ups in the country. Byju's is estimated to have raised about $2.3 billion in funding so far with valuation touching $6.5 billion.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Apple and Signal silent on names required under the new IT rules.
In the continuing battle between the promoter family and Invesco, ZEEL said its MD and CEO Punit Goenka has informed its board about a proposal made by Invesco about the merger, under which Strategic Group would hold majority stake but he was offered to be appointed as MD and CEO of the merged entity besides offering 4 per cent stake. In a regulatory filing, ZEEL alleged that Invesco's stance in their Open Letter that they "will firmly oppose any strategic deal structure that unfairly rewards select shareholders, such as the promoter family, at the expense of ordinary shareholders" runs contrary to the very deal Invesco was proposing itself a few months ago.
Shashank Rai, 30, allegedly sought millions of dollars in forgivable loans guaranteed by the Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act from two different banks by claiming to have 250 employees earning wages when, in fact, no employee worked for his alleged business.
Sony Pictures Networks India Pvt Ltd (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said they have signed definitive agreements for their merger following conclusion of an exclusive negotiation period during which both parties conducted mutual due diligence. In a joint statement, the two companies said they have "signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries". The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence, it added.
"He is a famous journalist and runs a digital media platform. Digital media platforms were allowed to get money from outside... The cap came the following year," Sibal argued.
Invesco, the single largest shareholder of Zee Entertainment Enterprises Ltd (ZEEL), on Wednesday said it had tried to facilitate a possible deal between Reliance and the company but refuted claims it had pushed for the transaction at a lower valuation. The latest statement from Invesco comes a day after ZEEL chief Punit Goenka told the company's board that Invesco had come with a proposal in February for a merger with certain entities owned by a large Indian group (Strategic Group) with inflated valuation "by at least Rs 10,000 crore". In a statement on Wednesday, Invesco mentioned that Reliance was the large Indian group.
The Delhi high court on Thursday extended till December 17 the interim protection from arrest granted to Newsclick editor-in-chief Prabir Purkayastha in a foreign funding case and asked the Delhi police why it needed his custodial interrogation when the RBI has given a prima facie finding in his favour.
Claiming 'right to be forgotten', reality show celebrity Ashutosh Kaushik on Thursday sought a direction from the Delhi high court to the Centre and Google that some of his videos, photos and articles be removed from various online platforms as they have a "detrimental effect" on his life.
I'm confident Australia can do it and it all starts against South Africa -- a brilliant match to start what will hopefully be a brilliant tournament for the Baggy Greens, says Brett Lee.
Five players have been sanctioned for brawling in the immediate aftermath of Bangladesh's victory over India in the under-19 World Cup final in South Africa at the weekend, the International Cricket Council (ICC) said on Monday. Towhid Hridoy, Shamim Hossain and Rakibul Hasan of Bangladesh and Indians Akash Singh and Ravi Bishnoi were all charged with breaches of the ICC code of conduct and handed international suspensions of between four and 10 matches.
Bronstein, Gewirtz & Grossman is investigating claims on behalf of purchasers of iGate securities.
India's captain Priyam Garg says the team wants to continue focussing on the process with "another step" left for what his team had set out to achieve, after beating Pakistan in the semi-final of the Under-19 World Cup on Tuesday.
The bank will cater to Russian clients through its subsidiaries in other countries
Urvashi Vaid dreamed of a common movement for social justice that could address them all: Racism, gender oppression and homophobia. Sandip Roy salutes the memory of Urvashi Vaid, one of America's most prominent LGBT activists, who passed into the ages this month.
India men's team captain Virat Kohli and the legendary Sachin Tendulkar on Sunday praised the national team's performance in the ICC Women's T20 World Cup, saying they will bounce back stronger from the defeat to Australia in the final. Unbeaten throughout the tournament, India were outplayed in all departments of the game by the defending champions, who clinched an unprecedented fifth world title in the shortest format with an 85-run win.
The Federal Trade Commission said the defendants used phony debt collection calls from India and bogus claims that they would reduce consumers' credit card interest rates to bilk consumers.
As part of the agreement, McDonald's has acquired 50 per cent voting equity shares in Connaught Plaza Restaurants, held by Bakshi and his affiliated entity since inception.
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