Nicholas Piramal India Ltd said Bombay High Court approved its merger with Global Bulk Drugs & Fine Chemicals Pvt Ltd.
The Supreme Court on Monday sought response of former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar on a plea of the CBI challenging the interim bail granted to them by the Bombay high court in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi issued notice on the plea of the CBI and sought the response of the couple in three weeks.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
The Supreme Court on Monday sought responses from Future Retail Ltd and others on Amazon's plea against the Delhi high court direction to maintain status quo on the Future-Reliance deal. Kishore Biyani and others and sought their replies. The apex court said the proceedings before the National Company Law Tribunal will go on and but will not culminate into any final order on amalgamation of FRL with Reliance.
The Supreme Court on Tuesday questioned the CBI over not objecting to repeated extension of the two-week interim bail granted in January this year to former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi asked Additional Solicitor General SV Raju, appearing for the CBI, as to why the probe agency did not resist repeated extension of interim bail granted to them by the Bombay high court on January 9. "This order is of January 9 and interim bail was granted for only two weeks. Why have you not resisted? Why are you permitting it to continue for such a long period?
The Enforcement Directorate on Sunday conducted searches in various Uttar Pradesh cities after it registered a money laundering case to probe the alleged Rs 3,700 ponzi scam case perpetrated by seeking fake social media 'likes' from lakhs of gullible investors by a Noida based firm.
ECL Finance Company MD and three officials were on Tuesday quizzed for nearly eight hours by the Raigad police in Maharashtra probing the alleged suicide of film art director Nitin Desai, an official said.
A bench of Justices Surya Kant and JK Maheshwari set aside the pre-arrest bail granted to Indian Revenue Service officer Santosh Karnani on an appeal by the Central Bureau of Investigation.
The helicopter came to pieces as it crashed and went up in flames.
The CBI has arrested Sanjay Gupta, owner and promoter of Delhi based OPG Securities Pvt. Ltd, in connection with the NSE co-location scam in which brokers allegedly abused the facility to make gains by getting early access to the stock market, officials said on Wednesday. The agency has already arrested Chitra Ramkrishna, former CEO and managing director of NSE and Anand Subramanian, former group operating officer of the market, they said. Gupta was arrested on Tuesday night, four years after the agency had registered the FIR in the Co-location scam case against him and his company.
Bombay Dyeing & Manufacturing Co Ltd said Fitch Rating India Pvt Ltd affirmed F1 + (Ind) rating to its short-term debt program.
Tips Industries Ltd decided to acquire the entire shareholding of Tips Films Pvt Ltd thus making it a 100% subsidiary of the company.
The contracts for the procurement of the platforms and weapons systems were signed in the presence of Defence Minister Rajnath Singh and defence secretary Giridhar Aramane, under whose guidance these deals fructified, an official readout said.
The rest, investigators claimed, were floated as "dummies" to act as cover for unleashing the alleged ponzi scheme.
The financial creditor had approached district authorities in Raigad to take possession of ND Studio a few months ago.
Siemens Ltd plans to acquire 100% stake in Siemens Buildings Technologies Pvt Ltd, from Siemens Building Technologies AG, Switzerland, for Rs 4.79 crore
The court's observation came while granting bail to a person accused of running call centres in the country and defrauding United States citizens to the tune of about $20 million.
As many as 15 companies, including Adani Copper Tubes, LG Electronics and Wipro Enterprises, with committed investment of Rs 1,368 crore, have been selected as beneficiaries under the PLI scheme for the white goods sector, the government said on Tuesday. In March, the commerce and industry ministry had reopened the application window for its Rs 6,238-crore PLI scheme for white goods -- air-conditioners (ACs) and LED lights-- with an aim to accommodate more players as several firms had expressed interest in the initiative. Last year, as many as 46 firms, including Daikin, Panasonic, Syska and Havells, with committed investment of Rs 5,264 crore were selected in the first round the scheme.
A special court here on Thursday rejected Videocon founder Venugopal Dhoot's plea which claimed that his arrest by the Central Bureau of Investigation in the alleged loan fraud involving former ICICI Bank CEO and MD Chanda Kochhar was illegal. The CBI court also rejected applications of Chanda Kochhar and her husband Deepak Kochhar for home food, beds, mattresses and chairs. The court directed jail authorities to provide them diet food in consultation with the medical officer.
The Supreme Court on Thursday sought responses from the Centre, the National Testing Agency (NTA) and others on petitions seeking the cancellation of National Eligibility-cum-Entrance Test (Undergraduate)-2024 (NEET-UG 2024), and a court-monitored probe into the alleged irregularities in the medical entrance exam.
Hindustan Foods Ltd allotted 29,99,993 shares amounting Rs 2.9 crore to V S Dempo & Co Pvt Ltd on a private placement basis.
The Rs 56,000-crore (Rs 560 billion) Adani Group on Monday received a major blow from the Gujarat High Court, which ordered a shutdown of 12 units in Adani Ports and Special Economic Zone (APSEZ), located in Mundra, Kutch district, with immediate effect.
The CBI on Monday arrested Videocon group founder Venugopal Dhoot in connection with the ICICI Bank loan fraud case, officials said. The 71-year-old Dhoot was arrested from Mumbai, nearly three days after former CEO and MD of the ICICI Bank Chanda Kochhar and her husband Deepak Kochhar were taken into custody by the CBI, they said.
The Delhi High Court Wednesday asked a news company to "hold its hand" for the time being and not publish any information against a Delhi-based businessman in connection with a drugs case involving the son of a Bollywood actor.
The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay high court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken.
Hi-Tech Plast Containers Ltd has entered into an agreement with Alphacon Group, representing three Private Ltd companies for acquisition of equity shares as a strategic investor.
The Competition Commission has disposed of a complaint alleging unfair business practices by Amazon Seller Services Pvt Ltd and certain other related entities, saying that the allegations are devoid of requisite evidence. The complaint was filed by All India Online Vendors Association against Amazon Seller Services, Amazon Wholesale India, Amazon Retail India, Cloudtail India and Prione Business Services. The association comprises more than 2,000 sellers across the country, with its members selling various products on e-commerce marketplaces.
Ernst & Young is appointed as valuer for Nokia India's Chennai mobile making plant
Company says no dispute with labour union but would address any shortcoming if brought to its notice.
Wipro on Monday said its shareholders have approved the company's plans to hive off non-IT business into unlisted arm.
Reliance Infrastructure on Thursday announced the cancellation of Rs 12,000 crore (Rs 120 billion) Mumbai's Metro Line 2 project citing non-fulfillment of certain obligations by Maharashtra government.
Dabur India Ltd has sold its entire stake in its French cheese-making joint venture, Dabon International Pvt.
Ambani has investment in gas pipeline company Reliance Gas Transportation Infrastru-cture; Jamnagar-based power company Reliance Utilities and Power Ltd and Reliance Ports and Terminal Ltd.
The Singapore-based arbitrator, SIAC, has rejected Future Retail's plea to lift the interim stay on its Rs 24,713-crore deal with Reliance Retail, giving a major relief to Amazon that is contesting the transaction. The development comes a day after the Singapore International Arbitration Centre (SIAC) held that Future Retail is a party to the ongoing arbitration between Amazon and Future group in the dispute over the sale of its assets to Reliance Retail. Future had contended before the SIAC that it should be excluded from arbitration proceedings because it is not a party to the dispute between its promoter Future Coupons Pvt Ltd (FCPL) and Amazon.
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
GDR Media Ltd decided to allot 10,00,000 equity shares of GDR Multimedia Ltd, of Rs 5 each to P Mahesh Reddy and his associates for cash and 60,00,000 shares to Almond Softfin Pvt Ltd holders.
The federal agency said it conducted raids against a director of Zanmai Lab Pvt Ltd, which owns WazirX, on August 3 in Hyderabad and alleged he was "non-cooperative". The agency's probe against the crypto exchange is linked to its ongoing investigation against a number of Chinese loan apps (mobile applications) working in India.
Eight bodies have been recovered from the debris of a stone quarry that collapsed in south Mizoram's Hnahthial district on Monday, an official said Tuesday.
Audit firm Deloitte has resigned as auditors of Byju's citing a delay in submission of financial statements while almost simultaneously three of the edtech firm's board members have quit in what is being seen as a deepening crisis at the decacorn. Deloitte Haskins & Sells, which was slated to audit Byju's until 2025, stepped down with "immediate effect" mid-term stating that "the financial statements of the company are long delayed. In a letter sent to the board of Think & Learn Pvt Ltd (known as Byju's), Deloitte said it has not been able to start an audit due to the delays and that will have a "significant impact" on its ability to "plan, design perform and complete" the audit as per standards.
