In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
The Essar Oil, Rosneft deal also helped Arpwood Capital, boutique investment bank, co-founded by Rajeev Gupta and Raj Kataria, to grab the second spot in the mergers and acquisitions league table.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
A prudent guideline for self-employed individuals is to target at least 10 to 15 times their actual annual income when determining life insurance coverage.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
With three key subscription drivers -- F1, IPL and HBO -- gone, can Disney+Hotstar depend only on its chart-topping originals like Criminal Justice and Rudra: Edge of Darkness to hit both scale and profitability?
Jet's air operator certificate will lapse on May 19.
'The smartest businessmen are shopkeepers as their return on investment is better than anyone else.'
Seeking to further democratise air travel with dependable and affordable services, airline Akasa Air is aiming to start flights in late May or early June after getting its first Boeing 737 MAX aircraft in April. Bullish on the long term growth potential of the country's civil aviation sector, ace investor Rakesh Jhunjhunwala-backed carrier is looking to have 18 planes in its fleet by the end of March 2023. Despite COVID clouds continuing to cast a shadow on the airlines, Akasa Air CEO Vinay Dube is more than optimistic as he asserted that "if you look at the long term future of commercial aviation in India, it is as exciting as anywhere in the world".
Personal information such as name, gender, email address and phone numbers of some Akasa Air passengers has been leaked to "unauthorised individuals", the airline stated on Sunday. India's newest carrier said it self-reported this incident to Indian Computer Emergency Response Team CERT-In, which is the government-authorised nodal agency tasked to deal with matters of this nature. However, Akasa Air asserted that there was no "intentional hacking attempt, but that the situation was reported by a research expert through a journalist for which we are grateful".
Several major websites across the world, including the UK government's Gov.Uk website, crashed for some time on Tuesday due to an outage at global website hosting service Fastly.
While such buying could indicate confidence in the business, investors should do a comprehensive evaluation before getting into the stock.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
Gains were led by index heavyweights with Reliance Industries contributing the most.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
On a full year basis, the airline made a loss of Rs 934.8 crore. The company has incurred a net loss during the current and previous year and, the its current liabilities exceeded its current assets
With at least three IPOs in the offing this year, stock market investors have a lot to look forward to.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
IT exporters were the top gainers amid a weak rupee along with select index heavyweights.
The Indian aviation market's recovery has been significantly impacted by caps on fare and capacity that has been placed by the government since May last year, said Willie Walsh, the director general of global airlines body IATA, on Tuesday. When India resumed the scheduled domestic flights on May 25 last year after a two-month break in view of COVID-19 lockdown, it had allowed the carriers to operate not more than 33 per cent of their pre-Covid domestic services. This capacity cap has been gradually increased and it now stands at 65 per cent.
Bank shares were the top losers along with index heavyweight RIL
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
'Boeing has returned some cash to the airline which will help it improve the current liquidity crisis.'
India's GDP for the three-month period ended September 30 grew 7.4%.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
'I would always put the money I saved into equity mutual funds -- mainly through the SIP route. 'This helped in swelling my savings over a period of time,' says Avik Chowdhury.
Office politics exists in many organisations, so don't let that bother you, advises HR Guru Mayank Rautela.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Shops selling essential products in Mumbai can remain open till 4 pm on all daysfrom June 7 while non-essential shops can operate till 4 pm on weekdays.Malls, theatres, and multiplexes will continue to remain shut.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
The company has signed deals Mint and digital television network Ping.
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
RBI has, since January, cut its policy rate four times.
As part of cost reduction efforts, the full service carrier has asked its employees, including pilots, to take steep pay cuts
Jet Airways is seeing a churn in its senior management ahead of its planned take-off this year. Sudhir Gaur, accountable manager and acting chief executive officer, is the latest to quit the company. Finance head M Shivakumar and head of management information system (MIS) Farazad Patrawalla moved out a few weeks earlier. Gaur had been part of the initial team selected by the Kalrock-Jalan consortium, which secured approval from the National Company Law Tribunal (NCLT) last June to revive the airline.
Modi orders coal, insurance sector reforms.
The banking, financial services and insurance sector was the most targeted by scamsters, says Indeevar Krishna, head, operations and customer service, Max Life Insurance
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
