Ebix had signed the agreement last year to acquire Gurugram-based Yatra Online for an enterprise value of $338 million (about Rs 2,327 crore) in an all-stock deal. The deal was supposed to conclude in the October-December quarter after regulatory approvals but went through several extensions, according to regulatory filings with the US Securities and Exchange Commission.
After National Spot Exchange Ltd (NSEL) this week suspended trading in forward contracts, the Forward Markets Commission (FMC), the commodities market regulator, on Friday sought to allay fears over the exchange defaulting on open contracts.
Titan's October-December quarter (Q3) business update claims 22-23 per cent revenue growth in the standalone jewellery sales (excluding bullion sales), implying a 4-year compound annual growth rate (CAGR) of 21.3 per cent. Store additions also looked healthy, with 21 new Tanishq stores opened in Q3, taking the total count to 466 (+43 in 9 months of FY24) including two in the US and one in Singapore. Titan added 90 stores in Q3, pushing its total retail outlets to 2,949 (including CaratLane).
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
The three main political parties in Pakistan on Sunday intensified their efforts for the formation of a coalition government after it became clear that the coup-prone country faced a hung Parliament after general elections marred by allegations of rigging.
Sebi is reportedly examining the matter internally and has reached out to the fund house on the matter.
India is concerned that SEC might have influenced rating given to the country by Fitch.
Voting for 10 constituencies was held from 7 am to 3 pm in 10 seats and from 8 am to 5 pm in the rest 10 segments under a thick security blanket of police and paramilitary personnel in the Naxalite-hit Bastar division.
Rajarengan 'Rengan' Rajaratnam, 42, of Manhattan, was charged by the Federal Bureau of Investigation and the US Securities and Exchange Commission with conspiracy to commit securities fraud and six counts of securities fraud.
US market regulator Security and Exchange Commission and Sebi (Securities and Exchange Board of India) are not in favour of a joint investigation into the Satyam case, a top source said.
Barack Obama on Thursday named Mary Schapiro, head of the securities industry's self-regulatory body, as chair of the Securities and Exchange Commission.
Sebi is learnt to have written to several regulators including those in Bermuda, Luxembourg, and Switzerland, seeking detailed information on some FPIs.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
Infosys on Friday said a class action lawsuit filed against the company and some of its employees in the US district court has been dismissed. The move comes after whistleblower complaints alleging certain unethical practices by the top management emerged in October last year.
His five-year rule saw the Babri Masjid demolition, the rise of the saffron forces and also the country being placed firmly on a new economic path, away from the Nehru years of public sector socialism.
The medium-term scenario for oil marketing companies (OMCs) is high risk due to the surging crude and gas prices. Apart from OPEC-plus cutting production, the Hamas-Israel conflict has caused fears of supply disruption. The July-September quarter of 2023-24 (Q2FY24) saw positive surprises for OMCs. Strong gross refining margins (GRMs) more than offset weak marketing margins.
Six years ago, the company discovered an incident of embezzlement of about $4 mn by an employee.
Monday's move indicated China was refusing to yield in talks with the United States over access to Chinese audit papers, trying to keep foreign regulators off what it sees as its turf.
Leading brewer Anheuser-Busch InBev will pay USD 6 million (Rs 40.2 crores) to the American authorities for settling charges of making "improper payments" to government officials in India to push sales and production.
India has conveyed its concerns to the top security and intelligence officials of the United States, the United Kingdom and Russia over the possible implications of Pakistan's links with the Taliban and various terrorist groups operating in Afghanistan for regional security and stability, people familiar with the development said.
An Indian-origin former analyst has been accused of providing confidential company information in the Raj Rajaratnam-led insider trading scheme, has been fined $34 million for his role in the scheme.
The SEC however added that "dismissing these proceedings will not prevent the Commission from filing an action against Gupta in United States District Court."
Infosys on Tuesday said the US Securities and Exchange Commission has concluded the investigation into the whistleblower allegations made last year, and that it does not anticipate any further action by the regulator. In October last year, Infosys had informed stock exchanges of having received anonymous whistleblower complaints alleging certain unethical practices by the top management. It then started a probe into the matter and roped in external investigators.
She was found guilty in January of duping investors and lying about the technology after a three-month trial.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
In a filing to SEC, the company said proposed regulations may discourage its customers from seeking services.
The company handed kickbacks to foreign govt officials in return for software contracts.
The high-profile race to buy India's second-largest business process outsourcing (BPO) company, WNS Holdings, ended abruptly today after the company informed the US Securities and Exchange Commission (SEC) that it had decided to stop discussions with interested parties regarding a possible change of control.
British daily The Financial Times has reported that AIG had lost $2 billion over the deals and the move is a sign that Securities and Exchange Commission action against Goldman Sachs could spark litigation from investors who lost money on mortgage-backed deals.
US officials did not prosecute companies accused of bribing officials in foreign countries when companies disclosed the conduct to authorities, fired responsible employees and took steps to improve compliance with the law.
Facebook Inc's initial public offering will vastly increase the wealth of its 27-year-old co-founder Mark Zuckerberg, leaving him with over $ 1 billion in cash and stocks worth $17.6 billion.
The NYSE also warned that an 'LF' indicator would be appended to the company's trading symbol and profile, date and news pages provided by the Exchange, Satyam announced in a filing to the BSE and NSE on Tuesday.
While elaborating on its international business, including the cash-and-carry or wholesale stores in a joint venture (JV) with the Bharti group, Walmart has pointed out that the list does not include the 'franchised' retail stores.
Two Indian Americans are at the centre of a case, which resulted in a deal that brought $600 million to the Securities and Exchange Commission, the largest amount it got ever to settle an investigation.
Billionaire money manager George Soros reported a nearly 2 percent stake in Manchester United Plc on Monday, in one of the first revelations of investors in the British soccer club's controversial initial public offering earlier this month.
India must learn from the missteps made by financial regulators in the US and UK.
The US market regulator has charged three individuals, including an investment banker with UBS, for running an insider trading ring.
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