The Reserve Bank of India (RBI) will meet top executives of asset reconstruction companies (ARCs) on Friday to take stock of the sector. During the meeting, ARCs will also seek clarity from the regulator on bank borrowing. While there is no regulatory ban in place, ARC sources said banks often refuse funding.
Two days after the termination of the merger agreement by Sony Group, Zee Entertainment on Wednesday hit back by filing a petition before the National Company Law Tribunal (NCLT), seeking a direction to implement the merger scheme. Besides, it has also initiated appropriate legal actions to contest the claims of $90 million (Rs 748.5 crore) filed by Sony Group before the Singapore International Arbitration Centre (SIAC), according to a regulatory update by Zee Entertainment Enterprise Ltd (ZEEL).
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
Inzamam ul Haq blames ousted PCB Interim Committee chairman Zaka Ashraf for mess in Pakistan cricket
Ranjan was nominated to the board of ICICI Bank on April 7
Edtech major Byju's is in process to raise Rs 600-700 crore to fund the company's operations till March by when it expects to realise money through the sale of Epic and partial stake sale in other subsidiaries, according to sources aware of the development. Byju's founder Byju Raveendran has recently raised money by mortgaging home and real estate assets owned by family members for paying salaries, sources said. "There is about Rs 50 crore gap per month in operational expenses where a large component is salary.
The BCCI has welcomed ICC's decision to approve its revamped proposal, which is aimed at bringing improved governance, financial and competition structures, during the Executive Board meeting in Singapore on Saturday.
Digital Personal Data Protection (DPDP) law aims to protect the privacy of Indian citizens while proposing a penalty of up to Rs 250 crore on entities for misusing or failing to protect digital data of individuals.
L&T will give Rs 6 per share special dividend to shareholders for the six decades that company patriarch A M Naik served with the engineering and construction major, S N Subrahmanyan, the CEO & MD of the infrastructure major said.
FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
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 new board will have a leaner structure on functional lines headed by the chairman and four members - covering infrastructure, operations and business development, rolling stock, and finance.
The Reserve Bank of India has on Wednesday lifted the ban on new customer acquisition by American Express which was imposed with effect from May 2021 due to non-compliance with local data storage norms. "In view of the satisfactory compliance demonstrated by American Express Banking Corp. with the Reserve Bank of India (RBI) circular dated April 6, 2018, on Storage of Payment System Data, the restrictions imposed, vide order dated April 23, 2021, on onboarding of new domestic customers have been lifted with immediate effect," RBI said. Similar bans were imposed on Diners Club International and Mastercard previously.
Hafeez said the board would factor in a players' workload ahead of next year's T20 World Cup before giving him a 'No Objection Certificate'(NOC) to take part in one of the growing number of lucrative franchise leagues around the world.
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
According to the plan made by the lenders and RIL, all Future group listed companies will be merged into Future Enterprises. RIL will then invest Rs 8,500 crore in the merged entity which will include the retail business.
While the remainder of the IPL has been shifted to the United Arab Emirates between September 15 to October 15, the BCCI doesn't want to let go the opportunity of hosting the T20 World Cup in October-November.
Diversified entity ITC Ltd on Monday said it will demerge its hotels business by incorporating wholly-owned subsidiary ITC Hotels Ltd, paving way to attract appropriate investors and strategic partners. With the company's hotels business maturing over the years, the company said the vertical is ready to chart its own growth path as a separate entity in the fast-growing hospitality industry. "The Board of Directors of ITC Ltd at its meeting held on July 24, 2023, evaluated and discussed various alternative structures for the hotels business.
Equity fundraising through qualified institutional placements (QIPs) has gained traction, thanks to supportive equity markets and the need for fresh fundraising to meet capital expenditure (capex) requirements.
The Centre, for the first time, has initiated a draft proposal for setting up an All India Institute of Medical Sciences (AIIMS)-like institute of national importance for animal health, education and research in Delhi to be called the All India Institute of Veterinary Sciences (AIIVS).
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.
'If businessmen should be included in the political process -- which is essential in my opinion -- they need to have the freedom to express themselves and to take stands against the government of the day, without fear of reprisals and attacks on their business.'
Board has cleared a proposal to rationalise the number of unions in the airline late last month
Market regulator Sebi is likely to approve the Satyam Board-formulated framework to induct a strategic investor.
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 ICC from the next cycle will award the same prize money to men's and women's champions and runners-up teams at its global events.
Franchise is the future but Australia rule the here and now
Madhabi Puri Buch, the first female chairperson of Sebi, doesn't plan to rest on her laurels in her third and final year in office and has set out an ambitious goal, such as moving towards a same-day and instantaneous settlement cycle for the secondary market.
A meeting of the CCEA is likely to be held next week.
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.
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 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.
The Rajya Sabha on Wednesday passed the Digital Personal Data Protection Bill 2023 by voice vote following a walkout by opposition members over the Manipur issue.
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.
The lowest price of the India-South Africa tickets is of Rs 900 which are being sold for around Rs 5000 in the black market.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
ICC introduces stop clock in men's ODI and T20Is, five-run penalty on third offence
BCCI has approved 10-team IPL from 2022 edition and are backing ICC's bid for cricket's inclusion in 2028 Olympics after some clarifications from IOC.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
On Wednesday, the TCS board approved an up to Rs 18,000 crore buyback offer entailing 4 crore shares at Rs 4,500 apiece. According to a postal ballot notice by the company, Tata Sons and TICL intend to participate in the buyback offer. Tata Sons, which holds about 266.91 crore shares, intends to tender 2.88 crore shares, while TICL (which holds 10,23,685 shares) intends to tender 11,055 shares, it added.
