RPG Enterprises Chairperson Harsh Goenka on Tuesday said the NCLT should be the next institution to be cleansed by the government to prevent "hard earned public money being stolen" as companies' promoters stash away money on the side and get "80-90% haircut" from bankers during the insolvency resolution process. In an apparent reference to recent cases of insolvency proceedings of some firms wherein creditors have taken huge haircuts on their dues, Goenka said it is the "new game in town". Insolvency resolution plans require approval of the National Company Law Tribunal (NCLT).
Sony Pictures Networks India Pvt Ltd (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said they have signed definitive agreements for their merger following conclusion of an exclusive negotiation period during which both parties conducted mutual due diligence. In a joint statement, the two companies said they have "signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries". The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence, it added.
The BCCI will be expecting the two new IPL franchises to go for Rs 7000 crore to Rs 10,000 crore each at the bidding process which begins in Dubai on Monday.
The BCCI's retention and auction rules ensure that franchises will have to make careful decisions to balance retaining star power with building depth across their squads.
A video of the CEO dancing along with her staffers is winning the Internet and encouraging other leaders to make workplaces happier.
Industry leaders including Google's India-born chief executive Sundar Pichai on Wednesday mourned the death of Ratan Tata, saying the veteran industrialist cared about making India better. "He leaves an extraordinary business and philanthropic legacy and was instrumental in mentoring and developing the modern business leadership in India. He deeply cared about making India better," Pichai said in a post on X. Pichai recalled that his last meeting with Tata was at Google's office where they spoke about the progress of self-driving car Waymo.
With founder Subhash Chandra no longer in the driver's seat at Zee, the acid test for Punit Goenka would be to take the financial investors along with him even as he strives to weather the latest storm. The question, now, is how he will deal with the challenges of being a professional CEO rather than an owner-CEO in the aftermath of his family offloading most of its promoter stake to a clutch of financial investors. However, the silver lining is that Zee remains the most profitable of the top four broadcasters in India.
'I am not a Shubman Gill hater but I feel Ruturaj is a better option because he has scored runs in tougher situations.'
Kolkata-based business tycoon Sanjiv Goenka's RP-SG Group claimed the Lucknow franchise for a whopping Rs 7090 crore, while international equity investment firm CVC Capital won the bid for Ahmedabad with a Rs 5600 crore offer.
LSG released KL Rahul before the team submitted its list of retained players by the October 31 deadline.
'We are wishing you come back to RCB. I'm a die-hard RCB fan and you playing past in the RCB... definitely the rumours I've heard. I won't say anything but I'm just wishing and praying that you come into RCB,' to which Rahul replied 'Let's hope.'
For the past few days, Tata had been admitted to the Breach Candy Hospital in south Mumbai.
Unprecedented bribery charges, farewells, separation, failed union, monumental mergers and record-breaking IPOs, along with a healthy dose of online happenings in the form of spat and lessons in customer care, corporate India saw it all in 2024.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
Renowned spiritual leader and Vipassana guru Satya Narayan Goenka died on Sunday night due to old age. He was 89. Goenka breathed his last at his residence in Mumbai on Sunday night, his associate said
Zaheer Khan is set to leave Mumbai Indians to take up the role of mentor at Lucknow Super Giants in IPL 2025.
He was 83. Goenka is survived by his wife Sushila and sons Harsh Vardhan and Sanjiv.
Group is planning to reduce its dependence on power generation business by expanding in other areas
The deal, which values Firstsource at Rs 800 crore (Rs 8 billion), would give Goenka a foothold in the information technology sector.
The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy in the world, but the RBI will take a decision on interest rate cut keeping the Indian economy in mind. "It is a positive for the global economy, including the Indian economy. "It is a 50 basis points cut from a high level.
Rising Pune Supergiant owner Sanjiv Goenka, on Tuesday, rubbished speculations that he has already bought stakes in Rajasthan Royals after the Indian Premier League orgainsers made it clear that his side and Gujarat Lions will not get extensions for the 2018 season.
He made his mark in diverse businesses, ranging from tyre to music.
Goenka is hoping Spencer's will break even by the second quarter of 2013-14.
The BPO's board will meet on Friday to finalise deal.
Business tycoons at the Ambani's pre-wedding celebrations at Jamnagar, Gujarat.
Goenka has not even attended the last three annual general meetings of the company, yet he drew around half of the managing director's pay
The fate of the $10 billion merger between Zee Entertainment Enterprises and Culver Max Entertainment, formerly Sony Pictures Networks India, is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka leading the merged entity after Sony expressed concerns after market regulator Sebi barred him from holding managerial posts in Zee and any of the entities in a fund-diversion case.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
All but out of contention for the IPL play-offs, KL Rahul's future as Lucknow Super Giants skipper is uncertain for the remaining two games after the team received a pasting at the hands of Sunrisers Hyderabad at home on Wednesday.
The split of the Rs 19,000-crore (Rs 190 billion) RPG empire is now complete, with Rama Prasad Goenka's younger son, Sanjiv Goenka, on Wednesday stepping out of the shadow of the umbrella brand that traces its history to 1820.
Like thousands of Indians and non-Indians I have been touched by, and am a beneficiary, of Satya Narayan Goenka's single biggest contribution to humanity: the Vipassana brand of meditation.
Goenka, who is the elder son of Essel group promoter and Zee chairman Subhash Chandra, has been MD of the media firm since January 1, 2010.
LSG players are donning green and maroon jersey, inspired by Kolkata football giants Mohun Bagan.
The mystery surrounding the alleged fund diversion from Zee Entertainment Enterprises (Zee) by founders Subhash Chandra and Punit Goenka has thickened with speculations of an amount multiple times higher than that cited by the ex-parte interim order passed by the Securities and Exchange Board of India (Sebi) dated June 12, 2023. While Zee shares witnessed a fresh selloff on Wednesday, news reports of accounting fraud left investors guessing about the hole in the media broadcaster's books. An order by the Securities Appellate Tribunal (SAT) in October 2023 had clearly hinted that Sebi's investigation had found a deeper rout.
A wave of high-profile player releases, including four prominent captains -- Shreyas Iyer, K L Rahul, Rishabh Pant, and Faf du Plessis -- has reshaped the landscape of the league.
Conversation should have been behind closed doors
Zee Entertainment Enterprises Ltd (ZEEL) is seeking rapprochement with Sony Group as it makes a last-ditch effort to resurrect a $10 billion merger, according to industry sources. After the Japanese multinational firm pulled the plug on its $10 billion merger deal in January, the Indian company reached out again to Sony to reconsider the termination and offered for talks this month, a source said. On the other hand, Sony is understood to be evaluating the proposal from Zee.
Kolkata Knight Riders wrist spinner Varun Chakravarthy on Friday said team owner Shah Rukh Khan has made a "huge impact" with his motivational speeches when the chips were down in the ongoing IPL.
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