Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate (ED) has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. When contacted, Flipkart said it is in compliance with Indian laws and regulations, including FDI regulations.
Non-uniform definition of control makes foreign investors wary, raise corporate governance issues.
Apart from a stake buy, some other options on the table include a merger of the entertainment businesses of Sony and Network18 Media.
Etihad's acquisition of 24 per cent stake in Jet Airways was the first FDI in an Indian carrier by a foreign airline.
The new wing will be known as the corporate finance investigation department, which will be headed by one of Sebi's executive directors. This department will have information technology solutions experts, particularly to detect the menace of frauds.
The expected interest rate hike in the US and the resultant volatility in the domestic secondary market could play a dampener to the over Rs 2-trillion initial public offering (IPO) pipeline in 2022. IPOs in 2022 look promising, with as many as 35 companies holding the Securities and Exchange Board of India's approval to raise roughly Rs 50,000 crore. Another 33 companies are waiting for the regulator's nod to raise around Rs 60,000 crore next year.
Sinha started his tenure at Sebi a bit shakily making people wonder if he'd complete his three years. Eventually, he went on to stay twice that long.
So far the government has been silent on the charges being levelled, even after the stock price rout. Perhaps it is hoping for the share price to settle so that the matter goes away, predicts Aakar Patel.
Sebi first began looking into the matter last month.
It further said India is facilitating external commercial borrowings by startups in order to encourage innovation and promote ease of doing business.
The scrutiny is expected to be over this month itself.
A glance back at some of the important ups and down Indian Inc faced in 2018.
With most Adani Group shares locked in lower-circuit in early morning trade based on news that accounts of three foreign portfolio investors, heavily invested into group companies, were frozen by the National Security Depository Limited, market experts advise caution that investors should not jump in now to buy at lower levels.
'Any future course of action towards active participation in the alliance when formed would need a lot of deliberation, long term vision and should be in our best national interests,' notes Commodore Vengalil Venugopal (retd).
Sebi's move to reduce time period required between subsequent QIPs to two weeks would help companies raise capital at regular intervals and time their share sale better.
New listing on the BSE will create more jobs, say experts.
TCS, Infosys and Wipro were down 0.4-2% each. Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
Diageo-USL integration pushed by at least two months; Firm likely to rework agreements and seek approval again
We have cleared all dues to our employees, says Ajay Singh
Minority investors of SpiceJet might be feeling cold-shouldered.
Amazon has filed a legal challenge at the National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's (CCI) suspension of the US e-commerce giant's 2019 deal with Future Retail (FRL). Amazon has challenged the CCI order on at least five grounds, and the matter is likely to be listed this week, according to the sources. Parallelly, Amazon's Indian unit has approached the Supreme Court against a halt on an arbitration case against Future Retail's (FRL) asset sale to Reliance Industries (RIL).
Retail investors may burn their fingers investing in them, especially if the markets correct, experts tell Sanjay Kumar Singh
Sectors throw up a wishlist for the Finance Minister.
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
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Government divestment reached record figures after the financial crisis, at the same time as promoters were required to bring down their stake in companies to 75 per cent or less.
The markets regulator made it easier for banks to acquire control in listed companies.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
The move, amid a rise in slippages from restructured assets, is aimed at resolving stress in the banking system.
Despite all the incentives, the start-ups' mega event fell short of expectations
Once a stock market darling, the jewellery chain heads for liquidation.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
'Expectations were being built up about radical moves and the action plan did not disappoint.'
Companies' annual reports can hide as much as they reveal. Investors can get early warning signals of wrongdoing by frequently speaking to other stakeholders.
'India and China have to make concrete progress with regard to the border issue, addressing the trade deficit, and facilitating people-to-people interactions. This has to happen in the next two, three years.' China expert Tansen Sen tells Sheela Bhatt/Rediff.com how India and China can take their relations to the next level.
Modi said Nepal and India can benefit if they cooperate and work together for the promotion of five Ts: Tradition, Trade, Tourism, Technology and Transport.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
Subrata Roy is in jail since March last year.
