V Vijayasai Reddy, a Rajya Sabha member from the YSRCP, has announced his decision to quit politics and resign from his parliamentary membership. He stated that agriculture will be his future and that his decision was personal, with no pressure or influence from others. Reddy's announcement comes as the YSRCP faces challenges after its defeat in the 2024 Assembly elections. He thanked YSRCP supremo YS Jagan Mohan Reddy for providing him the Rajya Sabha opportunity and highlighted his working relationship with the ruling TDP and Deputy Chief Minister Pawan Kalyan.
Leading passenger vehicle maker Maruti Suzuki on Saturday reported marginal growth while Hyundai and Tata Motors posted a decline in their sales in February as a slowdown in the market continued with demand remaining muted. On the other hand, Mahindra & Mahindra and Toyota Kirloskar Motor posted double-digit growth riding on their SUV and MPV models.
According to IRDAI, Marsh India had held the premium received from the clients in an Insurance Bank Account for more than 15 days and did not remit the premium to the insurer/reinsurer within the time limit of 15 days.
Tata Group is set to become India's first homegrown iPhone maker after Taiwan's Wistron Group agreed to sell a plant in Bengaluru to India's largest conglomerate. Wistron's board approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd to Tata Electronics for $125 million, the Taiwanese electronics manufacturer said in a statement on Friday. The unit operates an iPhone assembly plant near Bengaluru.
Byju's Founder Byju Raveendran's plea against the Insolvency of Think & Learn before the NCLAT was adjourned on Monday as one of the members of the bench recused from the hearing. The matter will be placed before a bench headed by National Company Law Appellate Tribunal (NCLAT) Chairman Justice Ashok Bhushan, who will assign a different bench to hear the matter. Raveendran had filed a petition challenging the initiation of insolvency proceedings against Think & Learn, which runs edtech company Byju's.
Jain, 57, is the minister for health, power, home, PWD, industries, urban development, flood, irrigation and water in the Arvind Kejriwal-led government.
Kotak Mahindra Bank's net interest margin is likely to swell after the Reserve Bank of India (RBI) lifted its restrictions on the private lender that barred it from issuing fresh credit cards and onboarding new customers through digital mode, brokerages said on Thursday. The bank's net interest margin (NIM) has seen a decline of over 35 basis points (bps) since the restrictions were imposed by the regulator in April 2024.
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.
'As they assaulted me, they kept shouting, "So, you rascal, you speak against officers? Against ministers?" -- and each accusation was accompanied by more blows. 'Seeing that I could not get up, they began stamping on me with their feet and continued until they were exhausted.' Pinarayi Vijayan -- now Kerala's chief minister -- was imprisoned during the Emergency. This is his account of what the police torture he suffered in jail. A revealing excerpt from Goa Governor P S Sreedharan Pillai's Democracy Enchained, Nation Disgraced: Dark Days Of India's Emergency. The first of a series to mark 50 years of the Emergency.
ZEE Entertainment Enterprises Ltd (ZEEL) and Sony Pictures Networks India on Tuesday said they have settled their six-month-long dispute related to the failed $10-billion merger and have agreed to withdraw all claims against each other. As part of the "comprehensive non-cash settlement" between ZEEL and Culver Max Entertainment Pvt Ltd (CMEPL), both "have mutually agreed to withdraw all respective claims against each other, in the ongoing arbitration at the SIAC and all related legal proceedings initiated in the NCLT and other forums," said a joint statement.
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd -- the owner of Byju's -- to oust the company's Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm. Byju's had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. "It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013," the court order said.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
Ratings agency Moody's said on Tuesday that it has cut the outlook on the ratings of seven Adani entities to 'negative' from 'stable', citing the US indictment of chairman Gautam Adani and others on alleged bribery charges, while Fitch Ratings put some bonds of the conglomerate on negative watch. Moody's affirmed the ratings on all seven entities -- Adani Ports and Special Economic Zone Ltd, two limited restricted groups of Adani Green Energy Ltd, Adani Transmission Step-One Ltd, Adani Transportation Restricted group 1 (AESL RG1), Adani Electricity Mumbai Ltd and Adani International Container Terminal Pvt Ltd.
The Enforcement Directorate (ED) has filed a chargesheet against Congress leaders Sonia Gandhi, Rahul Gandhi, and others on charges of money laundering in the National Herald case. The chargesheet, filed on April 9, names Congress leaders Sam Pitroda and Suman Dubey as accused persons. The case pertains to the alleged fraudulent takeover of properties valued over Rs 2,000 crore belonging to the Associated Journals Limited (AJL), the publisher of the National Herald news platform. The ED alleges that Young Indian, a private company "beneficially owned" by Sonia Gandhi and Rahul Gandhi, "acquired" AJL properties for a mere Rs 50 lakh, significantly undervaluing its worth. The case has been transferred to Special Judge Vishal Gogne's court for further proceedings.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Videocon Group founder Venugopal Dhoot to recover dues totalling Rs 5.16 lakh. The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. In an attachment notice on Monday, Sebi said the pending dues of Rs 5.16 lakh include the initial fine of Rs 5 lakh, interest of Rs 15,000 and a recovery cost of Rs 1,000.
The Enforcement Directorate on Monday arrested Delhi minister Satyendar Jain in connection with a money laundering case, officials said.
Crypto currency platform WazirX, a cyber-attack on July 19 this year in which nearly 40 lakh Indians have suffered a loss of to a tune of $230 million or Rs 19.12 billion, has moved the Singapore high court seeking a moratorium in any legal action against it and for legal protection.
The corporate affairs ministry has ordered an inspection of the books of Byju's, a senior government official said on Monday amid the edtech major facing multiple headwinds, including delay in submitting financial statements and concerns over corporate governance issues. The inspection of Bengaluru-based Think & Learn Pvt Ltd, which operates under the brand Byju's, will be carried out by the ministry, which is implementing the companies law. The ministry decided to carry out the inspection after taking note of the developments, including that the company has been unable to finalise its financial statements and that its auditor has resigned, the official told PTI.
Billionaire Gautam Adani's younger son Jeet on Friday married fiance Diva Shah at a small and intimate, traditional ceremony with a close group of friends and family in attendance.
ED has come across two immovable assets - one flat in Dubai and one land parcel in London. It is examining the valuation of both properties, estimated between Rs 150 crore and Rs 200 crore.
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.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
Police have arrested three persons from Mumbai, including a woman, for allegedly trafficking a man from Chhattisgarh's Durg district for 'cyber slavery' in Laos in southeast Asia and cheating him of Rs 2 lakh, an official said on Wednesday.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
The Enforcement Directorate (ED) on Saturday said it has detected alleged irregularities after it conducted raids in a money laundering case to probe 'black marketing' of tickets for two 'highly anticipated' music concerts by British rock band Coldplay and actor-singer Diljit Dosanjh.
The rights on offer are Indian Sub-continent Television Rights from 2018 to 2027 (10 IPL seasons), Indian sub-continent Digital Rights from 2018 to 2022 (5 IPL seasons) and Rest of the World Media Rights from 2018 to 2022 (5 IPL seasons).
Money laundering is punishable under the provisions of PMLA.
During the arguments on the bail pleas, ED had argued that the accused had committed the offence of money laundering punishable under provisions of PMLA.
The managing director and chief executive officer of a private firm were allegedly killed in a terrifying double murder in broad daylight by a former employee on Tuesday, the police said.
SG Corporate Mobility - the parent company of the Indian two-wheeler brand LML - has taken auto major Bajaj Auto to high court, claiming that it was illegally using its 'Freedom' trademark in newly-launched Bajaj Freedom CNG motorbikes, the company said in a statement on Thursday. SG Corporate Mobility claims that the term 'Freedom' has a deep-rooted association dating back to 2002 when the company had introduced its 'LML Freedom' motorcycle. The trademark 'Freedom,' along with the 'LML' brand, was officially assigned to SG Corporate Mobility in 2021 after being transferred by LML.
The ED said AB Exports Pvt Ltd is a "shell" or fake company owned by Prasad's son and Bihar deputy Chief Minister Tejashwi Yadav and Chanda Yadav (another daughter of the RJD chief) and its registered address is the bungalow located in the New Friends Colony area.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
The Competition Commission of India on Tuesday approved with certain conditions the mega-merger deal between media groups Sony and Zee. In a tweet, the watchdog said it has cleared the deal with certain modifications. The proposed merger was announced in September last year. CCI said it has approved the "amalgamation of Zee Entertainment Enterprises Limited (ZEE) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (CME), with certain modifications".
Former India captain Mahendra Singh Dhoni is set to jointly produce an animated series, titled 'Captain 7'.
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.
The shareholders of Hindustan Lever Ltd have given their nod to the scheme of arrangement between HLL, Shamnagar Estates Pvt Ltd, Jamnagar Properties Pvt Ltd, Hindustan Kwality Walls Foods Pvt Ltd for demerger of shares.
The National Company Law Tribunal has directed to start insolvency proceedings against OYO Hotels and Homes Pvt Ltd on March 30, according to a public announcement by the interim resolution professional.
Russian energy giant Rosneft has appointed a former Indian Oil Corporation (IOC) director to its board in signs it may be looking at boosting trade links with India. G K Satish, who retired as director for business development at IOC in 2021, is one of the three new faces appointed to the 11-strong board of directors of Rosneft, according to a statement issued by the Russian firm. Satish, 62, is the first Indian to be appointed to the board of Rosneft.
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