Despite the 33 per cent reduction in roaming rates for mobile phones announced by private cellular operators, including Airtel and Hutch, their charges would still be almost double than that of state-owned BSNL.
A Mumbai civil court has ordered for temporary restraint on access to an online mobile game titled 'Selmon Bhoi', allegedly based on a hit-and-run incident involving Bollywood actor Salman Khan.
The Delhi high court on Friday declined to stay the proceedings with regard to confirming the provisional attachment of bank accounts of NGO Amnesty International, but said that any final order passed in the matter would not be implemented without leave of the court.
MG Motor India on Tuesday said it will shut its manufacturing unit at Halol in Gujarat for seven days to curb the spread of COVID-19 as the second wave of the pandemic is sweeping across the country. The company follows Hero MotoCorp, which had last week announced temporarily stopping of operations at all of its six manufacturing facilities located at Dharuhera and Gurugram, Haryana; Chittoor in Andhra Pradesh; Haridwar in Uttarakhand; Neemrana in Rajasthan, and Halol in Gujarat along with its Global Parts Center (GPC) at Neemrana as COVID-19 cases surged in India.
Reliance Brands Ltd (RBL) will pick a 40 per cent minority stake in renowned fashion designer Manish Malhotra's MM Styles Pvt Ltd, for an undisclosed sum, the two companies said on Friday. This is the first external investment for the brand, which had so far been privately held by the designer. The strategic partnership is aimed at accelerating the 16-year-old couture house's growth plans in India and across the globe, they said in a joint statement.
The government on Tuesday asked the industry to make its stance clear on the issue of reservations in private sector.
Reserve Bank of India should introduce interest rate options based on Indian rupee benchmark, a financial derivative instrument, to meet future financing requirements of clients, according to the representatives of leading private banks.
NDTV promoter group firm RRPR Holding has told VCPL, which along with two other Adani group firms has launched a hostile takeover bid for the media firm, that its stakeholding in NDTV has been provisionally attached by the I-T authorities and require their approval for the transfer. The contention has been rejected by the Adani group, which termed it as "misconceived and misleading" statements while asking RRPR Holding to convert the warrants into equity shares. In a regulatory filing, NDTV said that its founders Radhika and Prannoy Roy have informed that RRPR Holding has intimated Adani group firm Vishvapradhan Commercial Pvt Ltd (VCPL) that the attachment of the shareholding, notified in 2018, shall remain in place until the completion of reassessment proceedings.
Donations from corporates to the national parties increased by 109 per cent between FY 2017-18 and 2018-19, said an analysis by the Association for Democratic Reforms (ADR), an NGO working for bringing in transparency in electoral politics.
Raising its pitch against the UPA government's move to reserve jobs in the private sector, industry body FICCI on Thursday said it was no solution to unemployment in a market-driven economy and offered its services in imparting skills for generating
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
Private life insurers have entered into their eighth year of operations in the country but they are yet to generate profits.
Prime Minister Manmohan Singh has assured the industry that the government would not impose its job reservation policy on the private sector and said steps would be taken to uplift the downtrodden.
After having allowed private Indian airlines to fly to SAARC countries, the Union Cabinet is likely to take a decision to permit them to launch operations to other international destinations in a month's time, civil aviation minister Praful Patel sai
The Finance Ministry has invited private sector bankers.
Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of Rs 110 crore, according to a top official of the company's licensee Iatric Industries Pvt Ltd. A new manufacturing unit will be set up with a production capacity of over three million pairs in Uttar Pradesh through a collaboration with Iatric Industries Pvt Ltd as part of an understanding with the state government.
Tech giant Microsoft Corporation has invested nearly $5 million (about Rs 37 crore) in OYO through the issuance of equity shares and compulsory convertible cumulative preference shares on a private placement basis by the latter, according to a regulatory filing by the hospitality chain. An extraordinary general meeting of Oravel Stays Pvt Ltd (OYO), which runs the OYO Rooms chain of hotels, on July 16 approved issue of the equity shares and Series F2 compulsory convertible cumulative preference shares (Series F2 CCCPS) for "an aggregate consideration amounting to rupee equivalent of $4,971,650 to Microsoft Corporation on a private placement basis", as per an RoC filing by the company.
In its FIR filed recently, the CBI has named Khattar and his company Carnation Auto India Limited for allegedly causing a loss of Rs 110 crore to Punjab National Bank.
The court orally observed that the 'right to be forgotten' depends on how far it has to be stretched.
On January 18, the agency had raided his premises and claimed to have seized about Rs 8 crore cash.
The industry, which has been highly unregulated in the past and which continues to be so in states where the Private Security Agency Regulation Act has not been implemented, is still struggling to infuse some standard best practices. Karnataka, which has been on the radar of terrorists, has still to implement the Act,which would bring under perview all its current players and infuse standard practices.
The regulator had earlier asked these banks to submit a road map and give a time frame for paring promoters' shareholding to 10 per cent.
As part of the agreement, McDonald's has acquired 50 per cent voting equity shares in Connaught Plaza Restaurants, held by Bakshi and his affiliated entity since inception.
The government will soon come up with detailed guidelines for private banks including hike in the foreign holding from 49 to 74 per cent and allowing foreign banks to set up subsidiaries in the country.
Life insurers in India registered a 22 per cent growth, collecting Rs 9,713 crore (Rs 97.13 billion) in premium income from new business till December, with private players gaining more ground from LIC.
Private telecom operators on Friday raised serious concerns over BSNL's non-compliance with regard to implementation of interconnect user charge saying they (BSNL) were completely violating Trai's regulations.
This is an important milestone that paves the way for bringing the company's single-dose COVID-19 vaccine to the people of India, and the rest of the world, through a collaboration with Biological E Limited, the statement added.
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
The policy proposes a contingency plan to handle cyber attacks on vital installations and critical infrastructure.
A private bus that mowed down a teenager in Mukstar and another that crushed a 10-year-old girl belong to a transport company owned by SAD leader Hardeep Singh Dhillon.
Foreign direct investment limit in private banks may be raised to at least 74 per cent and a clear guideline is expected by December end, a senior finance ministry official said in New Delhi on Friday.
Top level public sector executives, including directors and chief executives, will not be able to join private firms after retirement or resignation unless they get go-ahead from the government.
In a yet another bailout that will go down well with the political class, the government has proposed one-time assistance to state government and private universities and colleges that do not get any financial assistance from the University Grants Commission, the country's higher education standards regulator, which also funds institutions.
The reservation of jobs in the private sector will tantamount to putting the clock back on economic reforms and not even political parties are ready for a legislation making employment of SCs and STs binding on India Inc, industry body Ficci said.
Bird Group's executive director Ankur Bhatia died on Friday at the age of 48 following a massive cardiac arrest.
