The merger of ZEE Entertainment and Sony has reached an advanced stage of completion, and the issues faced by promoters with Sebi should not become a problem for the company, debarred ZEEL MD Punit Goenka has said in a letter to employees, according to sources. Goenka, who along with his father Subhas Chandra, was denied any interim relief against a Sebi order that barred them from holding the position of director or key managerial post in any listed company, in the letter ZEE Entertainment Enterprises Ltd (ZEEL) staff asserted that the merger of Culver Max (earlier known as Sony Pictures Networks India) is at a very important juncture. With the Securities Appellate Tribunal (SAT) restricting him from holding a directorial or key managerial position in a listed company, Goenka told the employees that the ZEEL board has constituted an interim committee of senior executives to ensure smooth operations and day-to-day functioning.
All eight venues selected to host matches for the ICC Cricket World Cup 2007 received the\n\nstamp of approval for their detailed stadium designs and operational plans.
The government on Wednesday announced the approval of Japan-based Daiichi Sankyo's proposed acquisition of shares in domestic pharma major Ranbaxy, along with 23 other proposals for a total FDI investment of Rs 753.14 crore
Board has cleared a proposal to rationalise the number of unions in the airline late last month
The Reserve Bank on Friday approved the transfer of Rs 99,122 crore as surplus to the central government for the accounting period of nine months ended March 31.
India tried to block the project at the fund's board meeting in South Korea, but later agreed to approve it with new condition, reports Nitin Sethi.
The next step for the Life Insurance Corporation of India is to approach market regulator Sebi, as the bank, which is also state-owned, is a listed entity.
In a filing to the Bombay Stock Exchange IOC said the shareholders, by way of postal ballot, has approved theissuance of bonus shares in the ratio of 1:1.
Market regulator Sebi is likely to approve the Satyam Board-formulated framework to induct a strategic investor.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
PCB was caught in a deadlock with the ACC for demanding additional compensation on organising chartered flights between Pakistan and Sri Lanka during the Asia Cup.
A meeting of the CCEA is likely to be held next week.
The Pakistan Cricket Board on Thursday held a review meeting of their woeful Asia Cup show in the wake of their World Cup squad announcement.
The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC chairman Deepak Parekh said on Tuesday. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Parekh told reporters in Mumbai. The merger of the corporation with HDFC Bank will be effective July 1, Parekh said.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
The Indian entrepreneurship success story will soon see one more company debuting on the public markets. Ola Electric, the electric vehicle (EV) company, has become the first such firm that has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering (IPO). This is a fresh issue of equity shares of up to Rs 5,500 crore and an offer for sale (OFS) of more than 95 million equity shares at a face value of Rs 10.
Adani Ports and Special Economic Zone will prepay $195 million of debt due in 2024 as the conglomerate helmed by Gautam Adani looks to boost investors' confidence post being targeted by a US short-seller. In a stock exchange filing, APSEZ said it will buy back $195 million of bonds due in 2024 using its cash reserves. Out of the $520 million principal outstanding, $325 million will be left after the buyback, it said.
Oil regulator PNGRB has approved the tariff that billionaire Mukesh Ambani-owned East-West pipeline will charge for transporting gas from fields off the east coast to users.
The players, who will be graded in three categories, will get Rs 50 lakh, 35 lakh and 20 lakh per year respectively under the new contracts system.
Grappling with the postponement of the series against Australia and the Champions Trophy, the Pakistan Cricket Board received a shot in the arm after India approved the itinerary and the security plan of its tour next year.
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
The NMC said it found that none of them visit the emergency department regularly "because there is no one in the emergency medicine department to interact with them other than the casualty medical officer".
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
The board of Maruti Suzuki India (MSIL) on Tuesday approved a proposal to issue shares worth Rs 12,841 crore to parent company Suzuki Motor Corporation (SMC) for acquiring Suzuki Motor Gujarat (SMG). The Gujarat manufacturing plant - with an annual capacity of 750,000 units - is owned by SMG, a wholly-owned subsidiary of SMC. The shares issued to SMC will raise its ownership in MSIL from 56.48 per cent to 58.19 per cent--India's largest carmaker stated in a notice to BSE.
UWW boss Nenad Lalovic also said the world body will require a "robust plan" from the stake-holders guaranteeing a "safe environment" where grapplers can report abuse and harassment, and a clear hearing process is in place.
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi's credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises' (ZEEL) matter. SAT was hearing Zee's plea against Sebi's order baring Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other organisations for allegedly siphoning off funds of the media firm. "There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigation).
Cricket has been played only thrice in Asian Games history and India did not take part in the event when it was last held in Incheon in 2014.
The Pakistan Cricket Board (PCB) found itself in an embarrassing position over its plans to seek compensation from the Board of Control for Cricket in India for not honouring the MoU signed between the two countries to play six bilateral series between 2015 and 2023.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
The incident led to a political confrontation between the government and Opposition in the state.
Kejriwal, who is also the national convener of the AAP, won the confidence motion with the support of 54 MLAs and said no legislator of his party defected.
ITC's move to demerge the hotel business into a new entity, ITC Hotels Ltd, is a step in the right direction and will allay investor's concerns on the company's capital allocation strategy in the medium-to-long term, said analysts at Morgan Stanley in a note. According to the company, the board of directors has approved in principle the demerger of the hotels business, wherein ITC will hold a 40 per cent stake in the new entity, and the remaining 60 per cent will be held directly by shareholders. The scheme of arrangement shall be placed for approval of the Board at its next meeting to be convened on 14th August 2023.
Rahul Bhatia and Rakesh Gangwal - the founders of IndiGo - will possibly face each other with deep mistrust, which the board chairman, M Damodaran, will attempt to defuse.
The Union cabinet approved the wage board proposal in December.
With the filing of this approval with the Registrar of Companies, the legal process for the merger have been completed, an official release said.
The mega procurement proposal will shortly be placed before the Defence Acquisition Council, the defence ministry's top body on procurement, they said.
The Union government is projected to share about 32 per cent of central taxes with states during the financial year 2024-25 against the 15th Finance Commission's recommendation of 41 per cent. The Revised Estimates (RE) for FY24, too, show a similar share of states in the central taxes at 32 per cent. In absolute terms, however, there has been an increase in the amount devolved to states compared to the Budget Estimates (BE) for FY24 at Rs 11 trillion.
The much-awaited public offering of the shares of auto major Maruti Udyog Ltd has cleared another major hurdle with the Securities and Exchange Board of India approving the draft prospectus for the initial public offer.
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