A top management leadership team from SoftBank has been coming to India in the last few days to meet the founders of start-ups and other investors, signalling the country's emergence as a pivotal market for the global investment giant. Based on current estimates, India accounts for nearly 10 per cent ($20 billion) of SoftBank's invested assets under management (AUM) globally. That makes the country its third largest market after the US and China.
On that ill-fated Sunday evening, the tour boat operator's "last trip" gimmick saw the vessel being packed beyond its capacity.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
'Investors don't have to worry about underperformance in passive funds, which earn market-equivalent returns.'
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
The Securities and Exchange Board of India (Sebi) is mulling doing away with the priority distribution (PD) model in Alternative Investment Funds (AIFs) and introducing in the regulation pro-rata rights (based on the ratio of their commitments) for investors. AIFs are pooled investment vehicles but certain schemes have been observed to be following a differential distribution model where one class of investors, often a junior class, share loss more than the ratio of their contributions in comparison to the senior class of investors. As the senior class of investors have priority in distribution over the junior class of investors, the profit distribution is done first to these investors while they are compensated for loss out of the residual capital of junior class investors.
Debt-ridden telecom operator Vodafone Idea on Tuesday approved the allotment of equity shares worth Rs 16,133 crore to the government, which post-allocation has become the largest shareholder with a 33.44 per cent stake in the company. The shares have been allocated to the government in lieu of conversion of interest dues arising from deferment of adjusted gross revenue and spectrum auction payments, the company said in a regulatory filing. "...it is hereby informed that the board of directors of the company has, at its meeting held today approved the allotment of 16,133,198,899 equity shares of face value of Rs 10 each at an issue price of Rs 10 per equity share aggregating to Rs 161,331,848,990 to the Department of Investment and Public Asset Management, Government of India," the filing said.
In a bid to incentivise its staff and improve their performance, Air India may soon offer them employee stock options (ESOPs). The erstwhile national carrier, which was acquired by the salt-to-steel conglomerate Tata Group last year, will be the second company in the Group to have an ESOP policy. Tata Motors is the other Group company with an ESOP policy, which was implemented in 2018.
The FMC on Thursday barred the National Spot Exchange and group firms from auctions of commodities held by the bourse after a complaint that firms related to the former managing director took part in the bidding process.
'It's a clear case of political patronage helping an individual grow.'
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
The United Kingdom on Friday announced a joint investment package with Tata Steel worth 1.25 billion pounds, including a government grant of 500 million pounds, for the country's largest steelworks in Wales that will help protect thousands of jobs and boost the British economy. The government's grant has been dubbed as one of the largest British government support packages in history and a "defining moment" for the country's steel industry.
The tea industry's cup of woes brimmeth - scanty rainfall and pest attacks have dragged down production in May, prices are lower than last year, and demand from some export markets is muted. Production in North Bengal - comprising the Dooars, Terai, and Darjeeling - is majorly affected; parts of Assam are also hit. Arijit Raha, secretary general, Indian Tea Association (ITA), said that the Tea Board numbers for April show a crop loss of about 9 per cent for North Bengal, compared to last year.
A Central Bureau of Investigation team on Friday arrived at the Som Vihar residence of former Jammu and Kashmir governor Satya Pal Malik in connection with its probe in the alleged insurance "scam" in the Union territory which came to light after his statement that he was offered bribes to clear related files, officials said.
The report added that cult members had approached certain members of the cricket team, who are Buddhists, to influence them. The panel, constituted in November last year to assess the performance of the 2014 World Cup champions and probe the influence of the cult on team selection, has, however, recommended that "special attention" must be given to prevent the movement from making inroads into the team.
'The governance and leadership practices of Cricket Scotland have been institutionally racist'
N Chandrasekaran, chairman of Tata Sons, has been appointed as the chairman of Air India by the airline's board, aviation industry sources said on Monday.
The 79-year-old industrialist will continue to serve as chairman of the Godrej Group and chairman emeritus of GIL, said the statement. "Nadir Godrej, who is currently managing director of GIL, will take over as chairman and managing director of the company," it added.
Assume Voot, JioCinema and Disney+ Hotstar are merged into one entertainment app, and you have a streaming service with more than 233 million unique visitors. That is a reach just under half of India's largest streaming app: YouTube. 'This level of consolidation does not exist even in the US.'
When the Muslim Personal Law Board promises 'advisories' and nikahnamas to the Supreme Court, one has to remember not only its recent campaign against any change in Muslim personal law, but also its past record of inaction on the question of triple talaq, says Jyoti Punwani.
"We started the second half well, went 2-0 up and then struggled a bit as Qatar was more aggressive and reduced the gap. But once again we were better in transition and we managed to score the decisive third goal."
The Welcomegroup's Graduate School of Hotel Administration invites applications for its Bachelor of Hotel Management programme.
Wipro hires former TCS veteran as Group Prez & COO.
A bench of Justices Dipak Misra and Amitava Roy said it failed to understand as to how such groups could be formed to eliminate stray dogs when there is a law to deal with the issue.
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
'The end of WFH has made achieving work-life integration more challenging for women.'
The Central Bureau of Investigation (CBI) began making submissions on Monday on its appeal before the Delhi high court challenging the acquittal of accused persons, including former telecom minister A Raja, and firms in the 2G spectrum allocation scam case in December 2017.
The majority of the International Cricket Council's Board members on Saturday voted in favour of restructured revenue sharing model including rollback of the Big 3 formula despite vehement opposition from Board of Control for Cricket in India's representative Vikram Limaye.
Microsoft Chairman and CEO Satya Nadella along with Alphabet Inc and its subsidiary Google CEO Sundararajan Pichai are also among those from trade and industry who have been awarded the Padma Bhushan for their distinguished services.
The company divests from properties abroad to focus on its key markets.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
Already out of the opening match, Pakistan captain Younis Khan could end up missing his team's entire group stage campaign of the Champions Trophy in South Africa due to a hand injury.
The CBI on Friday questioned former CEO of National Stock Exchange (NSE) Chitra Ramkrishna in view of fresh facts emerging in connection with its ongoing probe into the alleged abuse of co-location facility in the NSE, officials said. The agency has also opened look out circulars against Ramkrishna, another former CEO Ravi Narain and former COO Anand Subramanian to prevent them from leaving the country. The central probe agency had booked a owner and promoter of Delhi-based OPG Securities Pvt. Ltd, Sanjay Gupta and other in connection with alleged abuse of NSE co-location facility to make gains by getting early access to the stock market, they said.
What has worked though for Brand Saridon has been its single-minded focus on headaches as opposed to other analgesics that dwell on a wider set of problems, reports Sohini Das.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
The Central Bureau of Investigation has asked former Jammu and Kashmir governor Satya Pal Malik to answer certain queries in connection with an alleged insurance scam in the Union Territory, officials said on Friday.
A naturally reclusive nature and a conviction for the work to do the talking meant there was very little known about Mistry even during his time at the helm of Tata Sons. He did not do a single media interview from Bombay House.
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