Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
Diageo gets assurance, Heineken may seek one, too.
The board of Deccan Aviation, India's largest budget carrier, will meet in Bangalore on Wednesday to consider the merger with the UB Group's Kingfisher Airlines, which bought a stake in the carrier recently.
Fresh trouble seems to be brewing for liquor baron Vijay Mallya, with Mumbai International Airport(MIAL) deciding to sell a mid-sized corporate jet owned by his group company.
Poddar-Mallya agreement on running MCF likely to be re-worked.
A Special Court for Economic Offences has ordered summons to be issued against him over dues from his Kingfisher Airlines to the I-T Dept.
Three days after the June 22 felicitation in New Delhi by BCCI, Kapil Dev and rest of India's 1983 World Cup winning team would revisit Lord's, where they had scripted the most memorable chapter in the history of Indian cricket 25 years ago.
The US Federal Aviation Administration has yet to certify Epic's planes. The company manufactures private business jets with single and twin engines, capable of carrying six to seven people.
Kingfisher Airlines, promoted by the UB Group, expects to get into the black in December. According to Ravi Nedungadi, president and CFO, UB Group, the airline has been driving in volumes and efficiencies which is likely to be reflected in the revenues this month.
East Bengal are likely play an exhibiton match against top English Premier League side Tottenham Hotspur nine days before their arch rivals Mohun Bagan take on the German club Bayern Munich at Salt Lake stadium on May 27.
Mallya will now be the Founder Emeritus of USL
The Reserve Bank of India's (RBI) denial of permission to Swiss bank UBS to acquire Standard Chartered Asset Management Company has come as a blessing in disguise for Standard Chartered Bank.
Kingfisher has faced lawsuits from GMR and GVK-group run airports and also faced cases of cheque bouncing.
India's United Breweries has suggested close distribution ties with Heineken following the takeover offer by the Dutch brewer and Carlsberg for Scottish & Newcastle, which owns a stake in UB.
SBI is likely to register more FIRs to bring into the ambit of probe the additional Rs 3,100 crore loans from 10 other nationalised banks on which the company has allegedly defaulted.
Days after acquiring control of Air Deccan, Kingfisher Airlines Chairman Vijay Mallya now looks at rationalising the fleet of the two carriers and considering changes in the total fleet order of 90 aircraft.
Kolkata-based United Bank of India, which had earlier declared Kingfisher Airlines and its four directors, including Mallya as wilful defaulters, on Tuesday identified UBHL, the guarantor of the grounded Kingfisher Airlines, also a wilful defaulter.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
W&M's single malts and vodka brand could help UB improve its position at the premium end of the Indian spirits market
San Fransisco and New York are touted to be the first destinations.
Battleground shifts to rural and small towns, where user base aspires to upgrade to smartphones.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
Ukraine fears weighed on sentiment, with Russia rejecting a peace proposal amidst civil war-like situation in the former Soviet union republic.
Mallya intends to protect his shareholding in India's largest brewer in which Dutch brewer Heineken holds 37.5% stake.
Atul Choksey, the former co-promoter of Asian Paints, has exited from Standard Chartered Mutual Fund.
Vijay Mallya-led UB Group is all set to meet the month-end deadline for payment of Rs 400 crore (Rs 4 billion) balance toward 26 per cent stake it had picked in Deccan Aviation, the promoter of low-cost carrier Air Deccan.
The transaction, which values Air Deccan at Rs 155 a share, would be through allotment of non-preferential shares to UB
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Experts say, investors will be better off exiting them at higher levels and investing in stocks of fundamentally sound companies.
Even as Tata Steel mulls over its next move in the race for Corus Group, its rival suitor Companhia Siderurgica Nacional
UB Holdings had appealed to the bench, of judges Dilip B Bhosale and B Manohar, to let it use Rs 13 crore (Rs 130 million) from a Rs 380-crore (Rs 3.8 billion) deposit to pay a month's salary to employees of the grounded airline and Rs 47 crore (Rs 470 million) to settle tax dues on capital gains made from the sale of a stake in United Spirits to London-based Diageo that got it Rs 1,460 crore (Rs 14.6 billion).
Jeev Milkha Singh notched another accolade today when he was nominated for the Asian Tour's inaugural UBS Special Achievement Award.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
The UB Group, which has interests in spirits, aviation and pharmaceuticals, is contemplating entering the organised retail sector leveraging on its Kingfisher brand name.
Mallya holds a 32.86 per cent stake in United Breweries, after having ceded control to Dutch brewer Heineken in December last year.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
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Justice Ram Mohan Reddy asked Mallya to appear in court and bring along his passport.
