News for 'Scheme of Arrangement'

MP man cycles 105 km to take son to exam centre

MP man cycles 105 km to take son to exam centre

Rediff.com19 Aug 2020

The father, himself unlettered, said he understands the importance of education and didn't want his son to waste 1 year.

Future-RIL deal: Amazon moves SC for stay on Delhi HC order

Future-RIL deal: Amazon moves SC for stay on Delhi HC order

Rediff.com8 Apr 2021

Amazon has moved the Supreme Court challenging the Delhi high court's division bench order that had vacated a stay on Kishore Biyani-led Future Group proceeding with its Rs 24,713 crore asset sale to Reliance Industries. Amazon, in the petition, sought a stay on the March 22 order of the division bench, terming it "illegal", "random", "inequitable and unfair". On March 22, a division bench of the Delhi high court had granted Future a reprieve from a March 18 single-judge order that restrained it from taking any steps to sell assets to Reliance.

A Week In The Life Of A PSU Banker

A Week In The Life Of A PSU Banker

Rediff.com12 May 2023

'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.

Om Puri: The Chronicler Of Cities On The Boil

Om Puri: The Chronicler Of Cities On The Boil

Rediff.com18 Oct 2023

'If it weren't for Om Puri, a whole range of our big city experiences wouldn't have found their honest representations on the screen.'

Being poor is no reason to not follow rule of law, says SC

Being poor is no reason to not follow rule of law, says SC

Rediff.com14 Jul 2022

While hearing a matter relating to encroachment on railway land in Gujarat, the apex court observed that when the Constitution recognises rule of law, it has to be adhered to by one and all.

Don't issue/upgrade cards without customers' consent: RBI

Don't issue/upgrade cards without customers' consent: RBI

Rediff.com21 Apr 2022

The Reserve Bank on Thursday asked card companies not to issue unsolicited credit cards or upgrade an existing card without the explicit consent of the customer, failing which they will have to pay double the billed amount as penalty. It also asked card issuers and third-party agents not to resort to intimidation or harassment during recovery of dues from customers. In its master directions on credit card and debit card issuance, the RBI said "the issue of unsolicited cards/upgradation is strictly prohibited".

ED alleges Rs 2,000-cr liquor scam in Chhattisgarh, names IAS officer as kingpin

ED alleges Rs 2,000-cr liquor scam in Chhattisgarh, names IAS officer as kingpin

Rediff.com7 May 2023

The ED said its investigation also revealed that from 2019 to 2022, the sale of 'unaccounted illicit' liquor was almost 30-40 per cent of the total liquor sale in the state.

Sebi ban on Kishore Biyani won't impact deal with Reliance: Future Retail

Sebi ban on Kishore Biyani won't impact deal with Reliance: Future Retail

Rediff.com4 Feb 2021

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.

Future group to convene meets to seek nod for RIL deal

Future group to convene meets to seek nod for RIL deal

Rediff.com11 Oct 2021

Future group firms are convening meetings of their respective shareholders and creditors in November to seek approval to their proposed merger into Future Enterprises as part of the 24,713-crore deal with Reliance Retail. Several listed transferor firms including Future Retail, Future Consumer, Future Enterprises, Future Lifestyle Fashions, Future Markets Networks and Future Supply Chain Solutions - have informed their shareholders and creditors about the meetings which will take place on November 10 and 11. The meetings of the equity shareholders, secured creditors and unsecured creditors will be held through video conferencing /other audio-visual means, said Future group companies, adding that remote e-voting facility will be offered to all participants.

Opposition demands Parliament discussion on Agnipath at Birla's all-party meet

Opposition demands Parliament discussion on Agnipath at Birla's all-party meet

Rediff.com16 Jul 2022

Ahead of the monsoon session of Parliament, Lok Sabha Speaker Om Birla on Saturday sought cooperation of all parties for the smooth conduct of proceedings with "decency, dignity and discipline", even as the Opposition demanded discussion on the Agnipath scheme, unemployment and farmers' issues.

Agnipath Stir: Thousands Stranded At Stations

Agnipath Stir: Thousands Stranded At Stations

Rediff.com20 Jun 2022

'I am helpless and there is no one to help me.' 'I have been on this platform since Saturday.'

'Modi has moved foreign policy from elite to masses'

'Modi has moved foreign policy from elite to masses'

Rediff.com5 Jul 2023

'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'

Amazon asks Sebi to comply with SC order

Amazon asks Sebi to comply with SC order

Rediff.com31 Aug 2021

US e-commerce giant Amazon has written to Ajay Tyagi, chairman of market regulator Securities and Exchange Board of India (Sebi), to take action as is necessary to comply with the Supreme Court Judgment, related to the $3.4-billion merger deal between Future Group and Reliance. Amazon has requested Sebi to direct the Indian stock exchanges to withdraw the Observation Letters related to this deal with immediate effect. In January this year, Sebi had given a go-ahead onto Future Group's scheme of arrangement and sale of assets to Reliance, based on which the Bombay Stock Exchange also granted its "no adverse observation" report to the Rs 24,713-crore ($3.4 billion) deal.

'BJP was not fighting Congress or JD-S, but the very idea of Karnataka'

'BJP was not fighting Congress or JD-S, but the very idea of Karnataka'

Rediff.com16 May 2023

'By design or default, the BJP's election strategy militated against the very essence of Karnataka politics and the idea of Karnataka.'

Will India See Return Of Two-Party Politics?

Will India See Return Of Two-Party Politics?

Rediff.com20 Jul 2023

If only the Congress could rebuild on its strengths and develop a modern enough ideology, we could again be moving towards a clearer two-party political landscape, asserts Shekhar Gupta.

Nothing Surprising About Agnipath

Nothing Surprising About Agnipath

Rediff.com11 Jul 2022

Agnipath may be an exercise to address the genuine needs of the armed forces. But overall, it betrays the tendency to use the military and paramilitary for employment generation and shaping a national character, instead of treating them as the professional services they are, notes Shyam G Menon.

Quiet Doesn't Flow The Cauvery

Quiet Doesn't Flow The Cauvery

Rediff.com18 Sep 2023

Today, with the Lok Sabha polls only months away, any inter-state dispute over the Cauvery water dispute has the potential to take more political turns than otherwise, predicts N Sathiya Moorthy.

Now, all private hospitals permitted to give COVID vaccine

Now, all private hospitals permitted to give COVID vaccine

Rediff.com2 Mar 2021

The states and Union territories were also urged not to store, reserve, conserve or create a buffer stock of the COVID-19 vaccines, the Union health ministry said in a statement, a day after the start of the second phase of India's inoculation drive in which the coverage has been expanded to include everyone above 60 and those over 45 with specified co-morbidities.

India's Defence, Aerospace Exports Treble

India's Defence, Aerospace Exports Treble

Rediff.com21 Dec 2022

the defence ministry told Parliament on Monday that foreign procurement in defence has risen to Rs 50,061 crore (Rs 500.61 billion) in 2021-2022 from Rs 37,030 crore (Rs 370.30 billion) in 2017-2018.

Aadhaar must for benefits to victims of terror, Naxals

Aadhaar must for benefits to victims of terror, Naxals

Rediff.com17 Jan 2020

In a notification, the Union Home Ministry said an eligible beneficiary desirous of receiving the benefit under the 'Central Scheme for Assistance to Civilian Victims/Family of Victims of Terrorist/Communal/LWE Violence and Cross Border Firing and Mine/IED Blasts on Indian Territory' is required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.

Uber India gears up for electric future but...

Uber India gears up for electric future but...

Rediff.com19 Jun 2023

By 2025, Uber projects that 25,000-30,000 cars -- or 12 to 16 per cent of vehicle additions -- would be EVs, reports Surajeet Das Gupta.

PM's photo on vaccine certificates violates poll code: TMC to EC

PM's photo on vaccine certificates violates poll code: TMC to EC

Rediff.com3 Mar 2021

A delegation of Trinamool Congress leaders on Wednesday met Election Commission officials here and alleged that the use of Prime Minister Narendra Modi's photo on advertisements of various central schemes and the COVID vaccination certificates, distributed by the Union health ministry, violated the model code of conduct.

Future Retail moves SC to avert defaulter tag

Future Retail moves SC to avert defaulter tag

Rediff.com25 Jan 2022

Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.

Enough of 'Aaya Ram, Gaya Ram,' BJP doors closed for Nitish: Amit Shah

Enough of 'Aaya Ram, Gaya Ram,' BJP doors closed for Nitish: Amit Shah

Rediff.com25 Feb 2023

The Union home minister recalled that the BJP had won far greater number of seats in the last assembly polls than the JD(U) but Prime Minister Narendra Modi kept up his promise to back Kumar for another term in office.

MHA issues SOP for international passengers

MHA issues SOP for international passengers

Rediff.com23 Aug 2020

The SOP said priority will be given to compelling cases of in distress, including migrant workers and labourers who have been laid off, short term visa holders faced with expiry of visas, persons with medical emergency/ pregnant women and elderly persons or those required to return to India due to death of family member, and students.

Assam's eviction drive in forest land hits over 12,000 people

Assam's eviction drive in forest land hits over 12,000 people

Rediff.com14 Feb 2023

The Assam government on Tuesday began clearing nearly 1,900 hectares of forest and government land in Sonitpur district, affecting 12,000-odd people who were allegedly staying there illegally for decades, a senior official said.

EC announces Himachal polls; no dates for Gujarat yet

EC announces Himachal polls; no dates for Gujarat yet

Rediff.com14 Oct 2022

The Commission did not announce the elections for the Gujarat assembly, the term of which ends on February 18, 2023.

PMC Bank customers not to get Rs 5 lakh deposit cover in first lot

PMC Bank customers not to get Rs 5 lakh deposit cover in first lot

Rediff.com31 Oct 2021

Customers of stressed Punjab & Maharashtra Co-Operative Bank (PMC Bank) will not get up to Rs 5 lakh insurance cover in the first lot as the multi-state co-operative bank is under the resolution process. Deposit Insurance and Credit Guarantee Corporation (DICGC) in the first lot will pay customers of 20 stressed banks except PMC Bank. For the first lot, the mandatory 90 days period concludes on November 30.

Will 2022 see some daunting labour reforms?

Will 2022 see some daunting labour reforms?

Rediff.com31 Dec 2021

Ushering in a big wave of reforms by implementing the four labour codes, setting up the national social security fund to cover over 38 crore informal sector workers and improving the ease of doing business will top the agenda of the labour ministry in the New Year. In a major move, the ministry launched the e-Shram portal on August 26, 2021 for creating a national database of over 38 crore informal sector workers. It will help the government to ensure last-mile delivery of benefits of various social security schemes to the informal-sector workers.

Rahul or Gill ideal opener for Zim ODIs?

Rahul or Gill ideal opener for Zim ODIs?

Rediff.com14 Aug 2022

So, will Rahul allow Gill to continue his good form at the top of the order or perch himself out there at the onset with one eye on the Asia Cup?

Migrant labour from UP to be brought back, employed if BSP wins: Mayawati

Migrant labour from UP to be brought back, employed if BSP wins: Mayawati

Rediff.com22 Feb 2022

She lashed out at the Bharatiya Janata Party, the Samajwadi Party and the Congress, holding them responsible for the lack of jobs and migration from the state.

Govt readies plan to bolster PSU bank boards

Govt readies plan to bolster PSU bank boards

Rediff.com25 Jul 2022

The central government is looking to strengthen the boards of public sector banks (PSBs) by specifying terms of office and conditions of service for whole-time directors, and also seeking disclosures from all directors about interests in other companies. Through the Banking Laws Amendment Bill, the government is likely to introduce conditions for disqualification of whole-time and independent directors which are not specified in the current legislation. The Centre is seeking to introduce fresh changes that are aimed at strengthening the boards of PSBs, and holding their directors accountable, an official said.

This Budget Is A Statement Of Confidence

This Budget Is A Statement Of Confidence

Rediff.com2 Feb 2023

'Indian families' needs and expectations have gone through a revolution across economic demographics.' 'As this latest Modi-Sitharaman Budget demonstrated, politicians have understood this change. They are responding to it,' points out Shekhar Gupta.

New migrant plan: 12 ministries, 125 days, Rs 50,000cr

New migrant plan: 12 ministries, 125 days, Rs 50,000cr

Rediff.com18 Jun 2020

The Government of India has decided to launch a massive rural public works scheme, 'Garib Kalyan Rojgar Abhiyaan', to "empower and provide livelihood opportunities to the returnee migrant workers and rural citizens". Prime Minister Narendra Modi will launch this scheme on June 20 through video conference in the presence of Bihar Chief Minister Nitish Kumar and Deputy Chief Minister Sushil Kumar Modi.

'For the BJP, Nitish was a use-and-throw politician'

'For the BJP, Nitish was a use-and-throw politician'

Rediff.com18 Aug 2022

'The only thing that makes Nitish Kumar acceptable to Biharis, to the Mahagatbandhan allies, is the BJP.'

CBI summons Bengal minister Partha Chatterjee in ponzi scam case

CBI summons Bengal minister Partha Chatterjee in ponzi scam case

Rediff.com12 Mar 2021

The Central Bureau of Investigation (CBI) on Friday issued summons to Trinamool Congress secretary general and senior West Bengal minister Partha Chatterjee in connection with the I-core ponzi scam, sources in the agency said.

Looking beyond IBC

Looking beyond IBC

Rediff.com15 Jun 2020

IBC-oriented pre-packs, the other mechanism under consideration, are a mix of out-of-court restructuring and a formal insolvency process, say experts.

Cong caused spread of Covid in UP, Uttarakhand: PM in LS

Cong caused spread of Covid in UP, Uttarakhand: PM in LS

Rediff.com7 Feb 2022

During the first wave, when people were following lockdown guidelines suggesting that they stay where they are, the Congress was standing at Mumbai station and scaring innocent people, he said.

Nearly 66% polling in Himachal as voters brave cold

Nearly 66% polling in Himachal as voters brave cold

Rediff.com12 Nov 2022

The highest polling of 72.35 per cent was recorded in Sirmour district followed by 68.48 per cent in Solan and 67.67 per cent in Una and 67.5 per cent in Lahaul and Spiti. The high-altitude district of Lahaul and Spiti had recorded 21.95 per cent, the lowest, till 1 pm, but polling was brisk as the sun came out.

Sebi bans Kishore Biyani, others from securities mkt for one year

Sebi bans Kishore Biyani, others from securities mkt for one year

Rediff.com3 Feb 2021

Sebi on Wednesday barred Kishore Biyani and certain other promoters of Future Retail Ltd from the securities market for one year for indulging in insider trading in the shares of the company. Apart from Kishore Biyani, who was the CMD and promoter of Future Retail Ltd (FRL), others facing ban are Future Corporate Resources Pvt Ltd, Anil Biyani and FCRL Employee Welfare Trust. In addition, the regulator has imposed a fine of Rs 1 crore each on Kishore Biyani, Anil Biyani and Future Corporate Resources. Besides, they have been asked to disgorge Rs 17.78 crore for the wrongful gains made by them.