Brian Tempest is among the four directors of cash-strapped healthcare chain whose removals were sought by two institutional investors. Three directors -- Harpal Singh, Sabina Vaisoha and Tejinder Singh Shergill -- had already resigned before the EGM.
The Enforcement Directorate on Friday said it has attached assets worth more than Rs 52 crore of arrested AAP leader Manish Sisodia, his wife and some other accused in the Delhi excise policy-linked money laundering case.
Half the 4,500 companies that took part in the United Nations oil-for-food programme in Iraq allegedly paid kickbacks or illegal surcharges and are being given a chance to respond to the charges, two top investigators said.
In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday. Dabur International and Dermoviva were removed and got relief in the multiple suits due to lack of jurisdiction as they have not either manufactured, marketed, distributed or sold hair relaxer products in the US, it added.
According to the bid document, as part of the strategic disinvestment Air India would also sell 100 per cent stake in low cost airline Air India Express and 50 per cent shareholding in joint venture AISATS. The management control of the airline would also be transferred to the successful bidder.
According to jewellers and MMTC-PAMP India, gold demand has picked up in the wake of good monsoon and favourable price levels. There was positive response and more footfalls.
Flipkart offers over 30 million products across more than 70 categories
With Indian infrastructure companies burdened with debt, global PE funds and developers sense an opportunity to buy the airports cheap
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
Nikhil Anand, senior vice president, operations, at NLB Services explains why professionals who are adept at data, cloud computing and cybersecurity will earn well in 2024.
Bengaluru-based Prestige Estates Projects recently said it aims to double its annual residential sales bookings to Rs 25,000 crore by FY26 from its current markets and others such as Mumbai, Pune and National Capital Region (NCR). The company's chairman and managing director Irfan Razaq tells Raghavendra Kamath about his plans to achieve the target and outlook for the real estate market.
Be heard without screaming; be visible without cluttering.
Maruti, Hyundai & Mahindra together had 72.5% market share in year's first half.
The core group of secretaries on divestment scrutinised the financial bids for sale of newsprint maker NEPA and took up the issue of the divestment of equity in a slew of PSUs.
China on Monday dismissed the existence of a 'median line' in the volatile Taiwan Strait after Taiwan's defence ministry said it detected a record 103 Chinese warplanes flying around the self-ruled island in a 24-hour period.
Japanese car major Nissan on Tuesday said will hike the prices of its vehicles, including hatchback Micra and sports utility vehicle Terrano in India, by up to 4 per cent from next month in order to offset the impact of rupee depreciation and escalating input costs.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Flipkart and Myntra, together, post higher sales than Amazon
With car penetration of around 22 per 1,000 population, India continues to be a big opportunity to sell cars, especially in rural areas.
The top 300 pharmaceutical brands in the country will now bear a quick response (QR) code on their packaging to rein in spurious drugs and ensure better traceability.
The three-judge arbitration panel set up to resolve the controversy over the sale of the government's residual 49 per cent stake in Sterlite-controlled Bharat Aluminium Company Ltd has decided to meet in August, raising hopes of a resolution to the five-year-old dispute.
A massive data breach that has implications for national security was unearthed by the Cyberabad Police in Hyderabad, who arrested seven people of a gang allegedly involved in the theft and sale of sensitive data of the government and important organisations, including details of defence personnel as well as the personal and confidential data of about 16.8 crore citizens.
The New Year 2015, however, may see shares worth over Rs 50,000 crore (Rs 500 billion) being put on the table by the government, including by way of part-sale of its holdings in PSUs and its residual minority stakes in some private sector entities.
The Bengaluru-based quick-commerce application (app) Zepto is making big strides. According to Sensor Tower data, it surpassed JioMart in November, securing the second position among grocery apps in terms of monthly usage. This shift, identified by BofA Global Research, closely monitoring key segments of the app business, has pushed JioMart to third place in the grocery space.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
Tech giant Microsoft has unveiled a blueprint for India on artificial intelligence (AI) governance, and proposed a regulatory architecture to oversee safety protocols, according to a whitepaper released on Thursday. The whitepaper titled "Governing AI: A Blueprint for India" comes amid Microsoft raising its stakes in its artificial intelligence tool ChatGPT. The proposed AI regulatory architecture includes regulations prescribing safety and security requirements, then license deployment for permitted uses in a licensed Al data centre with post-deployment safety and security monitoring and protection.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
Hero Honda Motors, India's biggest motorcycle maker, on Wednesday said sales grew 31.5 per cent at 1,91,635 units in August 2004 over 1,45,730 units in the same month last year.
Realtors split on possibility of price fall, gold may replace cash in secondary deals.
As many as 11 Mercedes models are impacted by the ban.
After pulling out $17 billion in calendar year 2022, foreign portfolio investors (FPIs) have pumped $7.3 billion back into equity markets so far this year. The turnaround in foreign flows has helped domestic markets exceed the all-time highs chalked up in December 2022 and bounced back more than 10 per cent from this year's lows. However, a big nugget of FPI inflows seen this year could be off the back of two factors: exchange-traded funds (ETFs) and block deals.
Unlike Israeli company NSO, whose sale of Pegasus cyber tech grabbed worldwide attention, and other manufacturers of offensive-cyber products, Cellebrite operates in a grey area between security exports and civilian ones.
Shares of real estate firms have been outperforming over the past year. The rally, analysts say, may hit roadblocks in the near term amid stretched valuations, even as the long-term prospects for the sector remain ebullient. "Most of the positive news flow is already in the price. Hence, investors sitting on hefty profits may partially cash out at current levels," suggests V K Vijayakumar, chief investment strategist at Geojit Financial Services.
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
Hero Honda on Monday said its motorcycle sales during November 2003 grew 26 per cent to touch 204,533 units and this growth was spread across all major segments including Splendor+, and Passion Plus.
'Modi has presided over an ultra-nationalism that has stunted India's growth, been unable to change the country's external situation, brought foreign intervention into Indian affairs,' explains Aakar Patel.
'We've got a huge track record and success in bringing several biosimilars to the market.'
The main concern among industry and market experts is that the governance in these companies needs to be strengthened and the focus on social insurance has to come down.
