Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
https://www.rediff.com/business/report/why-ipo-bound-oyo-seeks-to-rename-parent-firm/20250530.htm
Clifford Chance, the world's largest law firm, announced an alliance with leading Indian counterpart AZB on Wednesday as global legal practices try to gain access to the country's burgeoning cross-border market
'Each side could consider challenging the NCLAT's stay order before the Supreme Court.'
Industry experts believe that this deal will positively impact the Indian film industry, which is struggling with fewer movie releases.
The Competition Commission of India has introduced draft regulations for combinations or mergers, under the new competition Act, to bring global deals in the digital space, including those involving Big Tech companies, under its scanner. The draft regulations would provide guidance on the valuation of merger transactions and the criteria for assessing sustainable operations in India for companies. The proposed rules mention that if the number of users and subscribers, or the turnover or gross merchandise value in India is over 10 per cent of the global figure, the company would be considered to have substantial business operation in India and would need CCI approval for the merger.
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
'I'm an unbalanced human,' the founding partner of AZB, India's top law firm, tells Pavan Lall.
Five Pakistani soldiers and at least 27 militants, including some foreigners, were killed On Sunday in clashes and air strikes in the restive northwestern tribal belt, where the military has launched a major offensive against the Taliban.
There were reports of lobbying within the Pakistan army for the ISI DG's post, which falls vacant in June, reveals Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing, India's external intelligence agency.
Lieutenant General Faiz Hameed, who has been replaced as ISI chief, will remain in the forefront of Pakistani initiatives in Afghanistan as also in the peace talks with the Tehrik e Taliban, Pakistan. He will also get a year plus to serve in a corps command, remaining in the race for selection as the next army chief when General Bajwa retires in November 2022, explains Rana Banerji, who headed the Pakistan desk at the Research and Analysis Wing.
In a surprise military shake-up, the Pakistan Army on Wednesday announced that the powerful spy agency ISI chief Lt Gen Faiz Hameed has been appointed as Peshawar Corps Commander -- a crucial position in view of the Taliban's takeover of neighbouring Afghanistan.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
At the heart of the disagreement is a 1,000-acre land parcel, part of the 3,400 acres owned by the family in Vikhroli, a northeastern suburb of Mumbai.
The dreaded Islamic State militant group on Thursday claimed responsibility for the attack on a Pakistani media house that had injured one person.
"We are closely monitoring the developments on the eastern border and we are fully prepared to respond," military spokesman Lt Gen Asim Saleem Bajwa said
Pakistan Prime Minister Nawaz Sharif on Friday held a meeting with the army chief and other top civil and military leadership where he discussed the security situation and his upcoming US visit during.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
Separating the roles of chairman and chief executive officer increases the effectiveness of a company's board, according to directors on corporate boards across the country.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
According to Dawn Online, the two also discussed matters of internal security and the war against terrorism.
"No terrorist organisation will be allowed to derail the dialogue process between Pakistan and India," Pakistan's Defence Minister Khwaja Muhammad Asif was quoted as saying by the Radio Pakistan on Saturday.
At least 28 people, including five children, were killed and 30 others injured when a suicide bomber shouting 'Allahu Akbar' blew himself up inside a mosque packed with worshippers for Friday prayers in Mohmand Agency in Pakistan's restive northwest tribal region.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
The horrific attack on the Peshawar school is the terrorists's retaliation for the Zarb-e-Azb military operation in North Waziristan.
Is Nasir Khan Janjua's appointment as Pakistan's national security advisor the first step in suborning the elected civilian government?
US drone strikes in Pakistan "must stop", Pakistan's powerful army chief General Raheel Sharif said on Wednesday.
Pakistan will explore other options to meet its defence needs if the deal for F-16s did not materialise with the United States, Defence Minister Khawaja Muhammad Asif on Tuesday said
At least 23 people were killed and 55 others injured on Sunday when a powerful bomb ripped through a crowded used clothes market in Pakistan's restive northwest tribal region bordering Afghanistan.
The Pakistan army killed at least 120 suspected terrorists in the North Waziristan tribal region during the Zarb-e-Azb operation.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
Pakistan's army chief General Raheel Sharif will visit Afghanistan tomorrow to meet the new leaders there and discuss security issues, including the thorny one of Pakistani Taliban militants hiding there.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Pak President Mamnoon Hussain said Pakistan wants friendship with India but maintained that the Kashmir issue should be resolved.
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