Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
Addressing an event in New Delhi, Gen Pande also said the recent global developments have underscored that the security of the nation can neither be outsourced nor be dependent on the largesse of others.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
A spot in India's playing XI is a tough ask, but once you get that golden opportunity and you shine on debut, is your place secure?
On the list of 137 economies, Switzerland is followed by the US and Singapore in second and third places, respectively.
Mark Boucher admitted the SA20 could be organised in the cricket-crazy Asian nation in the near future.
Prime Minister Narendra Modi Wednesday took the Congress to the cleaners over making the 2024 general elections about the protection of the Constitution, saying Indians voted on the plank only once when they threw out the Indira Gandhi government in 1977 after the Emergency.
Yashasvi Jaiswal wins ICC Player of Month Award
'For experienced and risk-taking investors, now may be the time to go all in.' 'By 'experienced and risk-taking', I refer to those who remained net buyers in equities during the early stages of the 2020 pandemic.' 'On the other hand, those who exited the markets during the pandemic may go the SIP way.'
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, offers expert advice on career programmes in India.
Rafael Nadal withdrew from Indian Wells on Wednesday on the eve of his first-round match.
Modi said that those who call themselves the biggest sympathisers of the backward communities are in reality their biggest enemies.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Uday Saharan's India won hearts and held out promise of a bright future for the Fab 15.
An initiative of Nandan Nilekani's EkStep Foundation, people+ai on Tuesday unveiled its vision for the future of Artificial Intelligence (AI) in India, dubbed 'Adbhut India' (Amazing India). It aims to harness AI as a powerful tool to enhance the lives of all Indians. The event marked the rollout of several initiatives by people+ai that are focused on discovering, demonstrating, and disseminating population-scale AI use cases for India.
The FIH Athletes Committee serves as a consultative body and makes recommendations to the FIH Executive Board, FIH Committees, Advisory Panels and other bodies.
Chanu ended India's over two-decade-long wait for a weightlifting medal at the Olympics.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
Subramaniam has no reason to believe that the man would hang up his boots anytime soon.
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.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
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.
Notwithstanding robust volume growth and a strong performance from Jaguar Land Rover (JLR), Tata Motors, the country's second-largest automobile (auto) manufacturer by market capitalisation, disappointed the Street with its January-March quarter (Q4) results for 2023-24 (FY24). While consolidated revenues saw a 13 per cent increase, lower-than-expected realisations in the Indian operations weighed down overall performance.
I hope those who underestimate Rajeev Chandrasekhar will be proved wrong in this fight for Thiruvananthapuram's future, notes Rajeev Srinivasan.
The T20 showpiece is also seen as a major stepping stone to the 2028 Los Angeles Olympics, where cricket will make a comeback after 128 years when the big event kicks off on June 1.
Setbacks and success are both a part of your professional journey. After all, the greatest success stories often begin with a healthy dose of overcoming adversity. Use this experience to fuel your ambition and keep your eyes firmly set on achieving your career goals, asserts Sonica Aron, founder of the HR consultancy firm, Marching Sheep.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
Former captain Kane Williamson, batsman Tom Blundell and quick Kyle Jamieson, who all have hamstring issues, were selected despite doubts over their fitness.
There are students with 10+ years of work experience who have done two-year full time MBA, says rediffGURU Patrick Dsouza.
ICICI Bank on Saturday said its March quarter consolidated net profit grew 18.5 per cent to Rs 11,672 crore, helped by lower provisions. On a standalone basis, the second largest private sector lender showed a 17.4 per cent growth in its profit after tax at Rs 10,708 crore for the reporting quarter against Rs 9,122 crore in the year-ago period. For fiscal 2023-24, its standalone net profit grew to Rs 40,888 crore from Rs 31,896 crore a year ago.
'If Kejriwal is adamant on running his government from jail, then his government could be dismissed and Article 356 imposed on Delhi, in other words President's rule in Delhi.'
Selling in index heavyweights, including Infosys, TCS, ICICI Bank and Reliance Industries, dragged the benchmark indices into the negative for the second straight session, analysts said. Among the Sensex shares, Asian Paints fell the most by 3.9 per cent as analysts expressed concerns over rising competition in the domestic paints market following the entry of Aditya Birla group company Grasim Industries into the paints segment. IT shares Infosys, TCS, HCL Tech, Wipro and Tech Mahindra continued to slide amid inflation concerns in the US market.
'Will we face politics even before we go to play for the country because we raised our voice against sexual harassment? Is this the punishment for raising voice against wrong in our country?'
A look at statistics and aspects which have made SRH's 2024 season such a memorable one:
KKR fielding coach Ryan Ten Doeschate, a member of their 2014 IPL title winning team under Gautam Gambhir, credited Narine's transformation to the former skipper who is now the mentor of the side.
Rinku Singh has put up a strong show in the first two matches of the five-match T20I series against Australia.
The Declaration for the Future of the Internet is in part a response to a rising trend of digital authoritarianism, including Russia's actions to block credible news sites
India is among the worst-performing BRICS nations along with Brazil (ranked even lower than India at 71st this year).
Power Grid Corporation (PGCIL) intends to ramp up its capex substantially through the next two financial years. The Public Sector Undertaking (PSU) utility posted flat consolidated revenues of Rs 10,700 crore in the third quarter of the current financial year (Q3FY24) and reported 7 per cent year on year (Y-o-Y) growth in net profit to Rs 4,000 crore. The Q3FY24 capex stood at Rs 3,440 crore and capitalisation at Rs 1,780 crore, taking the 9MFY24 total to Rs 8,700 crore capex and Rs 5,800 crore capitalisation, respectively.
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