The division bench of Justices F I Rebello and D G Karnik on Monday reserved orders as to whether the Birla group's petition is admissible or not. The order will be passed on Tuesday. In the present case, the issue is whether the Birla group is liable to pay capital gains tax on the share-purchase transaction worth $150 million with AT&T Mauritius (subsidiary of AT&T).
Aditya Birla group on Tuesday announced it had concluded acquisition of Tata group's 49 per cent stake in Idea Cellular Ltd for Rs 4,406 crore
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
The financial numbers for 2023-24 (FY24) of the four pure-play listed asset management companies (AMCs) have enthused the Street. All firms listed robust growth in net profit and revenue both during the January-March quarter (Q4) of FY24, as well as in full FY24. The strong performance comes amid a positive growth environment for the sector, led by tailwinds such as sharp growth in assets under management (AUM) and robust performance in equity offerings.
Baalu said Murugan was a "traitor" who spoke against the interests of Tamil Nadu and added he described him as "unfit", which was not an unparliamentary word.
A see-saw battle of arguments between the Lodha camp and the Birla group, who are fighting for control of Priyamvada Birla's Rs 2,400 crore (Rs 24 billion) assets, on Thursday unfolded before the Supreme Court.
The Birlas on Thursday informed the Calcutta High Court that Priyamvada Birla was suffering from several debilitating diseases and not in firm health as claimed by Rajendra S Lodha who asserted she had made the 1999 'will' in his favour in her full s
The top-notch faculty at Crotonville, including Noel Tichy, Ram Charan, Vijay Govindarajan, along with GE's top leaders Jack Welch, Gary Reiner, Bill Conaty, Jeffrey Immelt and Susan Peters, together delivered sought-after programmes on leadership to generations of early-stage leaders, mid-tier and senior managers from all over the world, recounts Indrajit Gupta.
BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
Ayesha Kanga played Yashika on Netflix's Class.
In a crucial victory for Birlas in their legal battle against Rajendra S Lodha for control of the M P Birla group, Calcutta High Court on Friday dismissed a petition seeking quashing of criminal proceedings against him and three others.
Aditya Birla Group on Wednesday raised its stake in Idea Cellular to 50.15 per cent after it bought Cingular Wireless's stake for $150 million (about Rs 650 crore).
Diversified conglomerate Aditya Birla Nuvo will acquire 56 per cent stake in retail broking firm Apollo Sindhoori Capital Investments for a consideration of Rs 198.8 crore (Rs 1.988 billion), a move that will strengthen the financial services segment of the group.
It hopes to enter the business in 9-15 months. "We have plans to enter diesel generator, petrol, LPG and kerosene segment, but it will be too early to comment on any specific deal," said Kalyan Bhattacharya, president and CEO, Birla Power Solutions. "The size of the acquisition will depend on the horse power of the engines manufactured by the company. BPSL is looking at a company manufacturing diesel engines of capacities ranging between 25 horse power and 200 horse power."
Using brand names of parent companies will help these firms connect with new customers.
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
It will also close 30 unviable stores. The company's move comes after its net loss widened to Rs 141.2 crore in the March-ended quarter, owing to mounting losses in apparels. The loss was Rs 82.2 crore in the apparel business, against a loss of Rs 4.44 crore in the corresponding quarter of the previous financial year.
Rajendra S Lodha, the chartered accountant who has staked claim on the Rs 5000 crore (Rs 50 billion) assets of the M P Birla group
Breaking her silence on the 'cash-for-query' allegation against Trinamool Congress MP Mahua Moitra, party chief Mamata Banerjee on Thursday said that plans were in the works to expel her from Parliament but any such action would help the lawmaker from Krishnanagar ahead of the 2024 Lok Sabha elections.
While the Tatas are looking for PE deals of about $50 million or less, the A V Birla Group is eyeing deals worth not more than $25 million. Tata Capital is banking on its ability to source deals by exploiting the existing Tata ecosystem of suppliers and customers. The Birla group, which has committed 40 per cent of the $250-million corpus it planned to raise for its PE fund, is looking to leverage its strength to source and evaluate deals.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
Trinamool Congress leader Mahua Moitra on Tuesday claimed that the meeting of the ethics committee of the Lok Sabha was postponed to keep a Congress member away from the proceedings and adopt the report by a majority, prompting a sharp retort from Bharatiya Janata Party MP Nishikant Dubey.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
Members from various opposition parties, including the Congress, sought to raise the Manipur issue immediately after the House convened and some of them shouted slogans.
Former Prime Minister Manmohan Singh, Birla and former Coal Secretary P C Parakh were summoned.
Brand name of the proposed bank has to be sent to RBI by July 1.
The case relating to the disputed will of Priyamvada Birla was on Tuesday assigned to the court of Justice Kalyanjyoti Sengupta and its date of hearing would be announced soon.
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