The Supreme Court Tuesday set aside three Delhi high court orders including the refusal to grant a stay on the final arbitral award which had restrained Future Retail Ltd from going ahead with its Rs 24,731 crore merger deal with Reliance Retail and ordered fresh adjudication. In a major relief to Future group, a bench headed by Chief Justice N V Ramana also set aside the high court's order of February 2 last year, by which it had directed Future Retail Ltd (FRL) to maintain status quo in relation to the merger deal. The March 18 order of the high court, upholding the EA's award and imposing a cost of Rs 20 lakh on it as well as its directors, has also been set aside.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
'Entry and qualification must not be through concession and must be reserved for only those who meet the stringent standards of the institution'.
Before buying Marans' stake, Singh's shareholding stood at 1.85%.
Apple's three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off in April 2021. Based on the government's estimate that one direct job in the electronics industry helps to generate three indirect ones, Apple's vendors, Foxconn Hon Hai, Wistron and Pegatron, are close to creating 100,000 direct and indirect jobs. The direct jobs that the vendors have created account for a fourth of Apple's commitment to generate 60 per cent of the new direct jobs out of the 200,000 jobs targeted by the government under the PLI scheme within five years.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
Palanivel Thiaga Rajan was on the hit-list, not because the chief minister was unhappy with his performance, but because there were constant complaints from other ministers that he was sitting on their files far too long, observes N Sathiya Moorthy.
The issue had come up during a presentation by the Civil Aviation Ministry.
At Birmingham, Avinash Sable became the first non-Kenyan to win a medal since 1994 at the Commonwealth Games.
While Amazon is expected to approach either Mumbai or Delhi high court to enforce the interim order of SIAC, the Future Group, too, is likely to challenge the order. Legal experts also expect the Reliance group to expedite the process for regulatory clearances in the deal.
The group is looking into a new role for Ranbaxy CEO and MD Arun Sawhney.
Alina Kabaeva was first linked to Putin more than a decade ago, while she was a medal-winning gymnast.
Tuition classes: Saviours or demons, asks Ajit Balakrishnan.
This is being done keeping in mind the urgency of these transactions, and it would help the ongoing insolvency cases, including the 12 accounts referred by RBI to banks.
Singh holds more than 36.15 crore shares.
In a setback to DLF, the competition Appellate Tribunal on Monday upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.
India's badminton great Prakash Padukone will receive the prestigious Lifetime Achievement Award this year from the Badminton World Federation (BWF).
Predatory pricing petitions against Ola, Uber were filed from across cities.
A guilty verdict could impact Google's growth in India
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
The case may drag for a few years, experts say, as CAIT and DVM have said they will appeal against the interim relief granted to Amazon.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Pointing at regulation of environment sector as a case in point, Goyal said the sector suffered due to "over regulation as regulators are not able to justify many decisions"
"Such are his core supporters that they will vote for him even if cooking oil sells for Rs 5,000 per litre under his leadership.' 'They don't think about inflation but Modi when they go out to vote.'
Archbishop Desmond Tutu, South Africa's anti-apartheid icon who won the Nobel Peace Prize for fighting racial discrimination in the country, died on Sunday. He was 90.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
Social media giant accused of anti-competitive conduct by abusing its market power to create a monopoly and crushing smaller competitors.
Dutch cricket ventures to a new frontier in maiden New Zealand voyage
The survey comes amid growing calls on the International Olympic Committee (IOC) to ease restrictions on protests with other sports organisations allowing athletes to express on-field solidarity with the Black Lives Matter movement in a time of global anti-racism demonstrations following George Floyd's death in police custody in May.
Xi Jinping is winning the war without firing a shot in Sri Lanka, observes Colonel R Hariharan (retd).
The tally from the weekend showed 37 new cases on Sunday with most testing positive after arrival at the airport
The order followed complaints against DLF Gurgaon Home Developers.
WhatsApp and Facebook had challenged the CCI's March 24 order directing a probe into the new privacy policy.
Sales during the quarter under review stood at Rs 9,357 crore, up 12.42 per cent, as against Rs 8,323 crore in the corresponding period of the last fiscal
'We look forward to seeing them show off their knowledge and hard work as they square off against the dictionary on the national stage.'
One fan has got a mural painted on the wall of his home in Dalgaty Lane as a mark of tribute. And little wonder, it is slowly turning into a tourist destination.
China remains a "formidable challenge" that has increased its presence not only along India's land borders but also in the maritime domain, Navy Chief Admiral R Hari Kumar said on Tuesday and asserted that the naval force keeps a regular watch in the Indian Ocean Region.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
Comment by SoftBank board member sets off talk of Ola-Uber merger.
