IndusInd Bank had moved NCLT claiming default of Rs 83.08 crore against the media & entertainment firm. The petition, to initiate insolvency proceedings against ZEEL, has been filed under section 7 of the Insolvency & Bankruptcy Code (IBC).
Malvinder "forged the signatures" of Aditi Singh, Shivinder's wife, in the documents of RHC Holdings Pvt Ltd, which along with Oscar Investments Ltd jointly owned financial services firm Religare Enterprises Ltd and hospital chain Fortis Healthcare Ltd, it said.
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.
The Delhi high court on Tuesday imposed Rs 2 lakh as costs on BharatPe co-founder Ashneer Grover in the matter related to his alleged defamatory social media posts against the fintech company. Justice Rekha Palli took on record the apology and the undertaking given by Grover but proceeded to impose costs on him, saying the "court cannot be taken for granted". The judge, while dealing with a plea by Resilient Innovations Pvt Ltd - which owns BharatPe - against its former MD, said the court was "appalled" to note the "persistent" and "blatant" violation of the earlier orders and assurances given by Grover in this regard.
Future Retail Ltd has said that SEBI's one-year ban on its chairman Kishore Biyani and some other promoters from the securities market will have "no impact" on the Rs 24,713 crore-deal with Reliance. Further, Kishore Biyani, some other promoters and Future Corporate Resources Pvt Ltd (FCRPL) plan to appeal against the order passed by Securities and Exchange Board of India (SEBI) on Wednesday. "The order will have no impact on the ongoing Scheme of Arrangement of the company. We understand that the relevant parties propose to challenge this order in exercise of their statutory right to appeal," Future Retail Ltd (FRL) said in a late-night regulatory filing on Wednesday.
A court in Mumbai on Friday extended till July 27 the police custody of businessman Raj Kundra in a case related to the alleged creation of pornographic films and uploading them through some apps.
Last Friday, the apex court had ordered Nokia to give a Rs 3,500-crore (Rs 35-billion) guarantee before it transferred its Sriperumbudur facility, one of its biggest plants globally.
Days before Sony Group pulled the plug on the $10 billion deal, Zee group founder Subhash Chandra had written to Finance Minister Nirmala Sitharaman, blaming Sebi for trying to "scuttle" the merger of its flagship media firm Zee Entertainment Enterprise with the Japanese firm and subsequent investment in the merged entity. Alleging market regulator Sebi is "acting with a predetermined mind", the Zee group patriarch requested the finance minister to take the necessary steps "to safeguard the interest of the minority shareholders of Zee". Chandra in his letter dated January 16, seen by PTI, said Zee and all other people have been cooperating in the investigation related to the alleged fund diversion by promoters and expressed concern over a new notice issued by the market regulator to former directors of Zee.
The Delhi High Court Tuesday restrained the Enforcement Directorate from taking any further action pursuant to the attachment of Amnesty International India's funds in connection with a money laundering case.
New subsidiary to supply cars to Maruti Suzuki
Soon after coming out of the ED office in Kolkata, Banerjee said the interrogation was an effort to prevent him from participating in the INDIA meet and a testimony to the vital role TMC is playing in forging the opposition unity.
The officials said her statement was also recorded under the Prevention of Money Laundering Act.
Mumbai-based private operator Maritime Energy Heli Air Services Pvt Ltd (Mehair), in association with MTDC, on Monday launched maiden seaplane service to Lonavala from here, marking its first operation from the mainland.
The ED had recently conducted raids against her and her husband in connection with a Rs 8,000 crore money laundering case.
Maharashtra Deputy Chief Minister Ajit Pawar on Friday said he did not have any connection with Guru Commodity Services Pvt Ltd which is under the Enforcement Directorate's (ED) scanner, though a sugar mill owned by the company is being run by one of his relatives.
Special CBI Judge O P Saini adjourned Monday's proceedings in the wake of stay granted by the Supreme Court on separate pleas filed by Mittal and Ruia challenging the March 19 order of the trial court summoning them as accused in the case.
Color Chips India Ltd's Syndication division has signed up with comic book publisher in India Diamond Comics Pvt Ltd for supply of content and comics. The value of the order estimated at over Rs 20 million.
The ED has now seized the property, agency sources said.
In a landmark deal announced in Mumbai, Star Den Media Services Pvt Ltd and Zee Turner Ltd will form a joint venture to combine distribution of their respective channel bouquets in India.
Opening another chapter in aviation industry, G R Gopinath, the pioneer in low-cost carriers, had his Deccan Charters Ltd join hands with Taj Air, the executive charter service of Indian Hotels Company Ltd (IHCL), and Business Jets India Pvt Ltd (BJETS), to launch Powerfly.
Guneet Monga came to Mumbai at 21 and went on to carve a successful career as a film producer, winning an Oscar this year!
The Rs 4,300-crore (Rs 43-billion) project -- marred by missed deadlines and cost overruns -- has finally started full scale test run last week between Ghatkopar and Versova and will open to public by mid-January.
About 240,000 commuters travelled on the first day (Sunday) of the Mumbai Metro's operations, Reliance Infrastructure Ltd (RInfra) said on Monday.
Kirloskar Oil Engines files EoI for PSIDC stake in Punjab Tractors
J M Morgan Stanley Pvt Ltd said ECE Industries Ltd will buy back 14,33,278 shares of face value of Rs 10 each or 25% at Rs 30 per share totaling Rs 42.998 million from the open market.
A consortium of shareholders with over 30 per cent stake in cash-strapped Byju's might approach the National Company Law Tribunal (NCLT) seeking a management change, if the extraordinary general meeting (EGM) scheduled for Friday failed to yield an 'amicable settlement' or faced further delays, sources said. Earlier this month, these shareholders had issued a notice calling for an EGM to address "persistent issues", including a change in management. They will vote for a revamp of the existing board, an exercise which would include asking Byju Raveendran to step down as chief executive officer (CEO) and relinquish his operational role, according to sources.
Air Asia will hold 49 per cent and the remaining will be owned by Tata Sons and Telestra Tradeplace Pvt.
The pair are shooting for Reema Kagti's new film in Dadar.
The HC had on July 29, 2021 extended the interim protection to the portal, represented through its holding company PPK NewsClick Studio Pvt. Ltd., and Purkayastha, uptill the next date of hearing.
A Mumbai court on Tuesday rejected a bail plea of businessman Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar and an accused in a money laundering case. He was arrested by the Enforcement Directorate (ED) in September under the Prevention of Money Laundering Act (PMLA) in the alleged ICICI Bank-Videocon money laundering case. Special PMLA judge P P Rajvaidya rejected the `regular' bail application of Deepak Kochhar, filed on merits of the case as against technical grounds.
Justice Dinesh Kumar Sharma said the parties shall file brief written submissions not exceeding five pages.
Ashok Vaswani, a banker with more than three-and-half decades experience in building and scaling up businesses across consumer and corporate banking and payments, will be the next managing director (MD) and chief executive officer (CEO) of Kotak Mahindra Bank. Last week, the Reserve Bank of India (RBI) had given its approval to Vaswani's appointment. Vaswani is currently President of Pagaya Technologies, a US-Israeli artificial intelligence (AI) fintech firm, which he joined in June 2022.
A senior executive of GMR group confirmed that both the companies were keen to get out of the venture. Fraport has already closed its development office in India.
The three Indian companies are Alpha Design Technologies Pvt Ltd, Bharat Forge Ltd and Medha Servo Drives Pvt Ltd, the space organisation said in a statement on Friday.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
Sebi found that the broker had committed fraudulent, manipulative and unfair activities and has also been negligent in observance and compliance of the statutory requirement in conduct of its business as a stock broker.
ATE Trading & Manufacturing Company Ltd fixed March 15 record date for amalgamating the company with Motex Engineering Company Pvt Ltd.
Indian companies had invested $7.34 billion.
Canara Bank entered into an agreement with AVIVA Life Insurance Co Pvt Ltd to act as corporate agent for selling AVIVA life insurance products without risk participation.
The pharmacy, identified by the federal anti-narcotics agency as JR Infinity Pvt Ltd, was located at Domalguda in Telangana's capital city.
