The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
The deal, involving Abu Dhabi carrier Etihad's purchase of 24 per cent stake in Naresh Goyal-led Jet Airways, was approved last month by the Competition Commission of India.
Project Vivaan won big at the Solar Decathlon, placing second overall (and missing the first position by a whisker). Members of the award-winning Team Shunya tell Mrigank Warrier how they built a carbon-neutral, water-neutral, energy-positive home for a family of four.
Civil Aviation Ministry has a few ready answers at hand.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
The other three airlines that have been probed in this matter are SpiceJet, GoAir and Air India
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
The AFI started National Open Javelin Throw Championships in 2018 and its third edition is scheduled in October this year.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Before buying Marans' stake, Singh's shareholding stood at 1.85%.
If Kerala wants to sustain its room for independent thinking and talk back to Delhi when needed, it should put its finances in order. Or - if one takes the North East example - Kerala's political posturing may end up commensurate with its financial dependence on others, suggests Shyam G Menon.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said it has decided to exit its investment in Myanmar by June next year. APSEZ, the largest port developer in India, is part of the globally diversified Adani Group. "The Board has decided to actively work on a plan on exiting Company's investment in Myanmar including divestment opportunities (expected to be concluded by March - June 2022)," APSEZ said in notes to its second quarter results.
The issue had come up during a presentation by the Civil Aviation Ministry.
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.
'Entry and qualification must not be through concession and must be reserved for only those who meet the stringent standards of the institution'.
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.
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.
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.
At Birmingham, Avinash Sable became the first non-Kenyan to win a medal since 1994 at the Commonwealth Games.
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.
Singh holds more than 36.15 crore shares.
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.
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.
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.
Predatory pricing petitions against Ola, Uber were filed from across cities.
A guilty verdict could impact Google's growth in India
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"
India's badminton great Prakash Padukone will receive the prestigious Lifetime Achievement Award this year from the Badminton World Federation (BWF).
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.
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.
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 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.
Social media giant accused of anti-competitive conduct by abusing its market power to create a monopoly and crushing smaller competitors.
The order followed complaints against DLF Gurgaon Home Developers.
