Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Adani group on Friday rejected NDTV's assertion that Sebi approval is necessary to acquire interests in RRPR, saying the promoter entity is not a part of the regulator's order that restrained Prannoy and Radhika Roy from accessing the securities market. Terming the contentions raised by RRPR as "baseless, legally untenable and devoid of merit", Vishvapradhan Commercial Private Ltd (VCPL) said the holding firm is "bound to immediately perform its obligation and allot the equity shares" as specified in the Warrant Exercise Notice. In a regulatory update, Adani Enterprises Ltd said VCPL has received a reply on behalf of NDTV and RRPR over the Warrant Exercise Notice dated August 23, 2022.
The Association for Democratic Reforms has stated in its report that 87 percent of the contributions or donations made to political parties in the past eight years were from business houses. The corporate houses contributed Rs 378.89 crore, constituting 87 per cent of the total contribution from known sources of political parties.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
GE Healthcare has already filed five global patents for its design.
The National Company Law Appellate Tribunal (NCLAT) on Wednesday closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties including Federation of Hotel & Restaurant Associations of India (FHRAI). Industry body FHRAI said in May it has been allowed by the NCLAT to intervene on behalf of hotels in the Oyo unit insolvency case before the tribunal. The association had filed the application on behalf of its member hotels in India, who it said at the time are operational creditors suffering hugely on account of non-payments of debt by Oyo.
This is one of the rare cases where Google has been penalised for unfair business ways, even as it has been under probe in several countries.
In a few years there may be 100 Japanese companies in Gujarat, while Chinese firms may commit investments of over Rs 6,000 crore.
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
'With the current situation in the global job market, students come back with an added burden of educational loans.'
When a former police constable was appointed Gujarat unit chief, everyone was surprised. Now workers are laying bets on when he will be elevated to the Union Cabinet, notes Aditi Phadnis.
As many as 26 premises are being searched in these cities by the federal agency under the criminal sections of the Prevention of Money Laundering Act, they said.
The Supreme Court on Friday upheld the validity of e-voting process for the winding up of six mutual fund schemes of Franklin Templeton, and said disbursal of funds to unit holders will continue.
Future Retail Ltd (FRL) on Monday said the Delhi high court has ruled that statutory authorities cannot be restrained from acting in accordance with law and stayed a previous order on status quo of its Rs 24,713 crore deal with Reliance. Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice D N Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2. "...inter alia, for the prima facie reason that the company is not a party to the Shareholders Agreement dated August 22, 2019 executed between Amazon, Future Coupons Private Limited and the Promoters of FRL, under which arbitration was initiated by Amazon in Singapore," FRL said.
A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK. While the banks argued a right to waive their security over the Indian assets involved in the case in order to recover their debt in the UK, lawyers for the 65-year-old businessman argued that the funds in question involved public money held by state-owned banks in India which precluded them from such a security waiver.
Sushil Reddy took a seven day trip to spread awareness on solar power.
Amid a political furore over a meltdown in the Adani group shares, stock market data shows it is not only the plunge now but the sharp surge of the past also drew regulatory attention and enhanced surveillance. Adani group stocks have taken a huge beating on the bourses, losing billions of dollars in market value, after US-based activist short-seller Hindenburg Research made a litany of allegations, including fraudulent transactions and share price manipulation at the Gautam Adani-led group. The Adani group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.
While Kumar, Tarun, Ashok, Sandeep and Dinesh were earlier in CBI custody for five days, the other accused were sent to the agency's custody on Monday.
The cell was formed after attacks on the Bangladesh central bank by international hacker groups siphoned off millions of dollars.
The action comes days after the CBI registered an FIR in the country's biggest alleged bank loan fraud case till date.
Mallya's Rajya Sabha declaration lists investments in racing, finance and investment firms.
Jindal Power bagged 2 coal mines in Chhattisgarh.
Ronnie Screwvala-led edtech unicorn upGrad, has filed a suit for trademark infringement against another EdTech company called Scaler. The suit has been filed in the Delhi high court for violation of intellectual property relating to upGrad's trademark. It has also sought damages of more than Rs 3 crore. upGrad accused Scaler of using its brand name 'upGrad' through Google Ads to appear on top of search results on Google Search Engine and in turn gaining illicit benefit.
Middle class Indians have grown up with the belief that living on credit is essentially a bad thing. You are in trouble if you think the same, cautions Rajiv Raj
According to experts, Tata Tiago JTP and Tigor JTP -- a sedan and hatchback -- are not only powerful and faster than every other car in the segment, but also in the segment above, including their peers Maruti Baleno RS, Volkswagen Polo and others.
Kerala's tax authorities are also reviewing other e-commerce companies for similar discrepancies, and might fine more defaulters.
Between September 2017 and August 2018, close to 15% of all flavoured milk launches in India were in the chocolate category, reports Nitin Kumar.
The much awaited Mahindra e20 launched on Tuesday.
Bansal has been named as the 39th prosecution witness in the case in which Singla, the then Member (Staff) of Railway Board Mahesh Kumar and eight others have been chargesheeted for the offence of criminal conspiracy under the IPC and relevant provisions of the Prevention of Corruption Act.
Bharti Retail on Friday announced appointments of former head of Walmart India Raj Jain as its CEO and Pankaj Madan, another senior executive of erstwhile joint venture Bharti Walmart, as Chief Financial Officer.
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.
A private company, which showed interest in converting Viraat into a museum, is yet to get a NOC for the project from the MoD.
It was alleged in an audit that Subramanian was the Yogi, but Sebi dismissed that claim in its final report on February 11.
The commerce ministry has recommended the continuation of anti-dumping duty on a Chinese chemical used in food and pharma industry with a view to guard domestic players from cheap imports. In a notification, the ministry's investigation arm, the Directorate General of Trade Remedies (DGTR), has said there is a "positive" evidence of likelihood of dumping of Sodium Citrate and injury to the domestic industry if the existing anti-dumping duty were to be removed.
The Thackerays sought dismissal of the PIL on the ground that it was filed on assumptions and without any factual foundation.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Declining vegetable prices brought down the retail inflation to a 15-month low of 4.59 per cent in December and within the comfort zone of the Reserve Bank, government data showed on Tuesday. It is for the first time during the current fiscal that the Consumer Price Index (CPI) based inflation print is below 6 per cent or in the RBI's target range of 2 to 6 per cent. The central bank factors in the CPI-based inflation while arriving at its monetary policy. The inflation in December 2020 came down from 6.93 per cent in November, mainly on account of 10.41 per cent decline in vegetable prices over the year-ago period.
As part of the deal, Padukone will own equity in Drum Foods.
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
