News for 'Promoter Group'

Malegaon trial ends 17 yrs after blast, verdict on May 8

Malegaon trial ends 17 yrs after blast, verdict on May 8

Rediff.com19 Apr 2025

A special court in India has reserved its verdict in the 2008 Malegaon blast case, which killed six people and injured over 100. The trial began nearly 17 years after the bombing in the town of Malegaon, located in Maharashtra. The prosecution concluded its final arguments on Saturday, marking the end of the hearings. Seven individuals, including Lieutenant Colonel Prasad Purohit and BJP leader Pragya Thakur, are facing charges under the Unlawful Activities Prevention Act (UAPA) and the Indian Penal Code (IPC). The verdict is expected to be delivered on May 8th.

No-contest clause in Ratan Tata's will raises questions on legal validity

No-contest clause in Ratan Tata's will raises questions on legal validity

Rediff.com30 Apr 2025

The inclusion of a "no-contest" clause in Ratan Tata's will has caught the attention of India Inc, prompting a wave of interest among promoters of listed companies and business families. Legal advisors and estate planners are seeing a noticeable uptick in queries, as wealthy individuals look for ways to shield their legacies from courtroom battles.

Meet India's first private reinsurer

Meet India's first private reinsurer

Rediff.com15 Mar 2025

In Debasish Panda's last board meeting as chairperson of the Insurance Regulatory and Development Authority of India (Irdai), the regulator approved the "R2" licence for Kamlesh Goyal and Prem Watsa-backed Value Attics Reinsurance, making it the first private-sector Indian reinsurer after GIC Re, the public-sector reinsurer. "The authority reviewed and approved the R2 application of Value Attics Reinsurance, making it the first private-sector reinsurer after GIC Re, the public-sector reinsurer.

Why India's medical device makers are moving to Vietnam, Malaysia

Why India's medical device makers are moving to Vietnam, Malaysia

Rediff.com14 Mar 2025

A large number of medical device-manufacturing units have been forced to move to Vietnam and Malaysia due to delays, inconsistent timelines, and a lack of transparency in licensing processes, according to the Parliamentary Standing Committee on Health and Family Welfare.

FD Rate Cuts: Balance Returns With Safety

FD Rate Cuts: Balance Returns With Safety

Rediff.com16 Apr 2025

'Choose an FD tenure that provides a balance between returns and the horizon for which you can invest.'

Prof accused of 'promoting Islam', MP varsity begins probe

Prof accused of 'promoting Islam', MP varsity begins probe

Rediff.com25 Jun 2024

A university in Ujjain in Madhya Pradesh has set up a probe panel following complaints of some students that a professor was propagating Islam and harassing Hindu students, a senior varsity official said on Monday.

Poll tweets: HC rejects Delhi minister Kapil Mishra's plea to stay trial

Poll tweets: HC rejects Delhi minister Kapil Mishra's plea to stay trial

Rediff.com18 Mar 2025

The Delhi High Court has refused to stay the trial court proceedings against Delhi Law Minister Kapil Mishra for allegedly posting objectionable tweets during the 2020 assembly elections. The court rejected Mishra's plea challenging a sessions court order dismissing his petition against the summons of a magisterial court in the case. The court said there was no need to stay the trial court proceedings and that the trial court was at liberty to proceed further with the matter. The high court granted four weeks to the police to file its response to the petition and posted the hearing on May 19. The hearing is slated to come up in the trial court on March 20.

Yes Bank fraud: Avantha Group promoter Gautam Thapar arrested

Yes Bank fraud: Avantha Group promoter Gautam Thapar arrested

Rediff.com4 Aug 2021

Thapar, 60, was arrested under the Prevention of Money Laundering Act (PMLA) on Tuesday night after the agency carried out raids against him and his linked businesses in Delhi and Mumbai, they said. He is expected to be produced before a court on Wednesday where the ED will seek his custody, they added. The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency.

BJP leader P C George gets bail in hate speech case

BJP leader P C George gets bail in hate speech case

Rediff.com28 Feb 2025

BJP leader PC George was granted bail by a court in Kottayam, Kerala in a hate speech case. George had surrendered before the court on Monday and was remanded to police custody. The High Court had rejected his anticipatory bail plea, observing that granting bail would send the wrong message to society. George was accused of delivering a hate speech against a minority community during a TV channel discussion. He was booked under sections 196(1)(a), 299 of the Bharatiya Nyaya Sanhita, and section 120(o) of the Kerala Police Act.

Journalist Rana Ayyub booked for 'spreading anti-India sentiment'

Journalist Rana Ayyub booked for 'spreading anti-India sentiment'

Rediff.com28 Jan 2025

Delhi Police on Tuesday informed a court that a first information report (FIR) was registered against journalist Rana Ayyub for allegedly making derogatory posts in 2016-17, including 'insults to Hindu deities, spreading of anti-India sentiment and incitement of religious disharmony'.

India counters Pak's actions, strikes 8 military installations

India counters Pak's actions, strikes 8 military installations

Rediff.com10 May 2025

Pakistani military targets at Rafiqui, Murid, Chaklala, Rahim Yar Khan, Sukkur and Chunian were engaged using air-launched precision weapons from Indian fighter jets and the retaliation largely focused on command and control centres, radar sites and weapon storage areas, Qureshi said.

SC's big backing for free speech, quashes FIR against Congress MP

SC's big backing for free speech, quashes FIR against Congress MP

Rediff.com28 Mar 2025

The Supreme Court of India has strongly criticized the police for suppressing freedom of speech by filing FIRs against artists for their performances, stating that mere recitation of a poem, stand-up comedy, or any form of art cannot be alleged to incite hatred or animosity between communities. The court quashed an FIR against Congress MP Imran Pratapgarhi, who was booked for a song performed at a mass marriage function, emphasizing that such actions stifle legitimate expressions of view in a free society.

Launch thrust to power volume engine of Maruti Suzuki

Launch thrust to power volume engine of Maruti Suzuki

Rediff.com5 May 2025

The January-March quarter (Q4) results for 2024-25 (FY25) from the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.

'US tariff issue is an overhanging sword'

'US tariff issue is an overhanging sword'

Rediff.com7 Mar 2025

Firodia talked about his plans for the EV-components business, and the components business at large for the group

Haldiram inks pact with Temasek as strategic investment partner

Haldiram inks pact with Temasek as strategic investment partner

Rediff.com30 Mar 2025

Haldiram has entered into an agreement with Temasek as part of which the Singapore-headquartered global investment firm will "acquire an equity stake from the existing shareholders" of India's largest packed snack and sweets company and restaurant operator, according to a statement issued on Sunday. It did not disclose details of the deal or the valuation at which Temasek acquired the equity stake, but this is the first official confirmation of the deal from Haldiram.

Sebi seeks to reset clock on rights issue

Sebi seeks to reset clock on rights issue

Rediff.com21 Aug 2024

The Securities and Exchange Board of India (Sebi) has proposed sweeping changes to the rights issue framework to enhance its attractiveness, aiming to make it the preferred route for additional fundraising by listed companies. Among the changes proposed by the market regulator are reducing the timeline to first 20 days and then to just three days, allowing shareholders to renounce their rights entitlement to investors of their choice, and eliminating the requirement to appoint an investment banker or file a draft letter of offer.

Violent protests against Waqf Act rock parts of Bengal

Violent protests against Waqf Act rock parts of Bengal

Rediff.com12 Apr 2025

Protests against the Waqf Act turned violent in parts of West Bengal on Friday, with demonstrators setting ablaze vehicles, disrupting traffic and rail movement, and injuring several policemen. The unrest erupted in Suti, Murshidabad district, where protesters defied prohibitory orders, hurled stones at security personnel, and torched police vans and public buses during processions. Police responded with lathi charges and tear gas, while some officers were forced to seek refuge in a nearby mosque. Similar protests were held in Malda and Kolkata, prompting Governor C V Ananda Bose to direct the state government to take swift action against those responsible. The governor also contacted Union Home Minister Amit Shah and held discussions with Chief Minister Mamata Banerjee. The Waqf (Amendment) Bill, which was recently passed by both houses of Parliament, aims to improve the management of Waqf properties, safeguarding heritage sites and promoting social welfare.

Skoda India gears up for EV play with local push

Skoda India gears up for EV play with local push

Rediff.com25 Apr 2025

Skoda Auto India, the Czech carmaker that has recently found success with its compact SUV Kylaq, says it remains committed to developing a fully localised electric vehicle (EV). The EV will be manufactured at its Chakan facility for both Indian market and exports.

Roshni Nadar Malhotra, 3rd Richest Indian

Roshni Nadar Malhotra, 3rd Richest Indian

Rediff.com10 Mar 2025

Only Mukesh Ambani and Gautam Adani are ahead of her.

Rs 2,541 cr boost for tourism, 50 destinations to be developed

Rs 2,541 cr boost for tourism, 50 destinations to be developed

Rediff.com1 Feb 2025

India's Finance Minister Nirmala Sitharaman has announced an ambitious plan to develop the country's top 50 tourist destinations in a "challenge mode", with the aim of boosting employment-led growth and attracting international visitors. The Ministry of Tourism has received a significant budget increase for 2025-2026, with a focus on enhancing tourism infrastructure, promoting domestic and international travel, and ensuring the safety of tourists, particularly women. The government plans to promote homestays, improve connectivity to tourist spots, and provide performance-linked incentives to states that demonstrate effective destination management. The budget also includes investments in public enterprises, skill development programs, and initiatives to promote medical tourism and spiritual tourism.

IOC blames Russia for Paris Olympics gender row

IOC blames Russia for Paris Olympics gender row

Rediff.com15 Mar 2025

A gender row involving two female boxers at the Paris 2024 Olympics was the result of a Russian fake news campaign, said International Olympic Committee (IOC) president Thomas Bach.

Does Adani group need Sebi nod to buy NDTV stake?

Does Adani group need Sebi nod to buy NDTV stake?

Rediff.com26 Aug 2022

Adani group on Friday rejected NDTV's assertion that Sebi approval is necessary to acquire interests in RRPR, saying the promoter entity is not a part of the regulator's order that restrained Prannoy and Radhika Roy from accessing the securities market. Terming the contentions raised by RRPR as "baseless, legally untenable and devoid of merit", Vishvapradhan Commercial Private Ltd (VCPL) said the holding firm is "bound to immediately perform its obligation and allot the equity shares" as specified in the Warrant Exercise Notice. In a regulatory update, Adani Enterprises Ltd said VCPL has received a reply on behalf of NDTV and RRPR over the Warrant Exercise Notice dated August 23, 2022.

50+ Firms Join Race For India AI

50+ Firms Join Race For India AI

Rediff.com3 Mar 2025

Nearly a dozen firms have shown interest in building the foundation model and LLMs, while others have proposed sector-specific SLMs.

Gukesh at Freestyle Grand Slam: A new chess frontier

Gukesh at Freestyle Grand Slam: A new chess frontier

Rediff.com7 Feb 2025

World Champion D Gukesh began his campaign at the Freestyle Chess Grand Slam tour with a mixed bag of results, including three draws and a lone loss, signaling that he is adapting to the new format.

26/11 marked turning point in India-Pak ties: Jaishankar

26/11 marked turning point in India-Pak ties: Jaishankar

Rediff.com15 Apr 2025

External Affairs Minister S Jaishankar said the 2008 Mumbai terror attack marked a turning point in relations with Pakistan when Indians collectively felt that such behaviour from a neighbouring country could no longer be tolerated. Speaking at Charotar University of Science and Technology, Jaishankar acknowledged India's transformation under Prime Minister Narendra Modi over the last decade, while Pakistan has remained unchanged, continuing with what he termed as its "bad habits."

More Adani group shares pledged

More Adani group shares pledged

Rediff.com9 Mar 2023

More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.

Adani group to hit the road this week to raise up to Rs 33,254 crore

Adani group to hit the road this week to raise up to Rs 33,254 crore

Rediff.com28 May 2024

The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.

India To Develop 50 Tourism Sites

India To Develop 50 Tourism Sites

Rediff.com3 Feb 2025

In a continued push to spiritual tourism, there will be a focus on destinations related to the life and times of Lord Buddha.

Ukraine stun Belgium with epic comeback

Ukraine stun Belgium with epic comeback

Rediff.com21 Mar 2025

Ukraine came from behind to beat visitors Belgium 3-1 in the first leg of their Nations League playoff on Thursday

Why Are Child TB Cases Rising?

Why Are Child TB Cases Rising?

Rediff.com17 Apr 2025

Children below the age of 15 years account for about 10 to 12 per cent of India's overall TB burden.

Religare: Sebi rejects open offer by US-based entity

Religare: Sebi rejects open offer by US-based entity

Rediff.com28 Jan 2025

Capital market regulator Sebi on Tuesday rejected the competing open offer made by the US-based entity Danny Gaekwad Developments & Investments for acquisition of Religare Enterprises Ltd (REL) as it did not meet necessary regulations.

BCCI Contracts: Jadeja, Axar promoted; Rahul demoted

BCCI Contracts: Jadeja, Axar promoted; Rahul demoted

Rediff.com27 Mar 2023

Star all-rounder Ravindra Jadeja was rewarded with the elite grade A plus retainership.

Adani group has paid off $2.15 bn share-backed loans

Adani group has paid off $2.15 bn share-backed loans

Rediff.com29 Mar 2023

Billionaire Gautam Adani-led promoter group has paid off all of the $2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt. Adani Group in a statement termed reports of the group not completing repayment of $2.15 billion share-backed debt "baseless and deliberately mischievous." "Adani has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion (as was announced on March 12) and all corresponding shares pledged for those facilities have been released," it said.

Pahalgam Attack: 'Munir Would Have Known'

Pahalgam Attack: 'Munir Would Have Known'

Rediff.com6 May 2025

'Pakistan's only concern has been while they were on the FATF watch list was to distance their State institutions and organs from any direct connection with the actual execution of militancy inside Kashmir.'

Centre announces caste census; BJP, allies hail move

Centre announces caste census; BJP, allies hail move

Rediff.com1 May 2025

In a significant move, the Centre on Wednesday announced that caste enumeration will be part of the next population census, with the inclusion of caste details for the first time since independence hailed by the Bharatiya Janata Party and its allies as a historic step to help design truly equitable and focused policies.

'Landmark Moment For Capital Market'

'Landmark Moment For Capital Market'

Rediff.com5 Feb 2025

DIIs owned equities worth Rs 73.5 trillion, just 1.9 per cent less than FPIs. This marks a significant change from a decade ago.

Rahul's Payback: Statement Knock And A Cold Handshake

Rahul's Payback: Statement Knock And A Cold Handshake

Rediff.com23 Apr 2025

Goenka approached Rahul after the match to congratulate, only to receive what looked like a cold, disinterested handshake. No words, no eye contact. Just quiet closure and a telling payback.

Dabur is one of the FMCG majors which may be hard hit

Dabur is one of the FMCG majors which may be hard hit

Rediff.com11 Apr 2025

The fast-moving consumer goods (FMCG) sector is likely to report muted results in the fourth quarter of 2024-25 (Q4FY25) due to weakness in urban consumption. The weakness may persist through the first half of 2025-26 (H1FY26).

Has US Averted India-Pakistan War?

Has US Averted India-Pakistan War?

Rediff.com2 May 2025

The 'mediation' by the United States from behind the scene on the diplomatic track appears to be once again working, which calls on both Delhi and Islamabad to show restraint and pull back from a military confrontation, notes Ambassador M K Bhadrakumar.

Will money in hand from tax breaks spur housing demand?

Will money in hand from tax breaks spur housing demand?

Rediff.com21 Apr 2025

Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.