'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
In a significant win for the Adani group, the Supreme Court on Wednesday refused to transfer the probe into allegations of stock price manipulation by the Indian corporate giant to a special investigation team or the CBI, saying market regulator SEBI was conducting a "comprehensive investigation" and its conduct "inspires confidence".
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
'Why should we disclose classified information to satisfy those who doubt our Hydrogen Bomb capability?'
Borrowing from a fraudulent loan app subjects the borrower to a variety of risks.
Abu Dhabi's International Holding Company, one of the first high-profile investors in billionaire Gautam Adani's conglomerate, has decided to sell its stake in two Adani companies. In a disclosure, IHC said it has "entered into a definitive agreement with a buyer to dispose of its FDI investment in Adani Green Energy Ltd and Adani Transmission Ltd". It, however, did not name the buyer.
The announcement by Attorney General Jeff Sessions comes within days of President Donald Trump firing his Secretary of State Rex Tillerson.
The State Bank of India (SBI) on Wednesday told the Supreme Court that a total of 22,217 electoral bonds were purchased by donors between April 1, 2019 and February 15 this year, out of which 22,030 were redeemed by political parties.
The top three mutual funds (MFs) paid out 10-18 per cent higher commissions to distributors during the financial year 2022-23 (FY23) compared to FY22 as a sustained rise in flows from the systematic investment plan (SIP) route boosted distributors' share in the assets under management (AUM), according to an analysis of the disclosures by the top three fund houses. State Bank of India (SBI) MF saw its commission payout go up 18 per cent year-on-year (YoY) to Rs 1,675 crore. The payouts rose 10 per cent and 15 per cent for ICICI Prudential MF and HDFC MF, respectively.
A five-judge constitution bench headed by Chief Justice D Y Chandrachud held that the 2018 scheme was 'violative' of the constitutional right to freedom of speech and expression and right to information.
The Election Commission (EC) had, in 2019, flagged its concerns in the Supreme Court on the changes made in several laws relating to political funding to facilitate the electoral bonds scheme, saying it will have 'serious repercussions' on transparency.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
The petition claimed there were "mistakes and errors" in the judgment, and in light of certain new material that had been received by the counsel for the petitioner, there were sufficient reasons for a review of the verdict.
In its verdict last month, the top court directed the SBI to furnish the details to the Election Commission (EC) by March 6.
Reliance Power's exemption demands prompt move.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Eleven days after she was shot dead in a Gurugram hotel, the body of ex-model Divya Pahuja was recovered from a canal in Haryana's Fatehabad district on Saturday, police said.
This has affected all political activity of the party, Maken said at a press conference.
Holding that the electoral bonds scheme was not fool-proof, the Supreme Court said on Thursday that information about funds received by a political party is essential for voters to exercise their freedom to vote effectively.
Markets regulator Sebi has ordered the attachment of bank and demat accounts as well as mutual fund holdings of Videocon Group founder Venugopal Dhoot to recover dues totalling Rs 5.16 lakh. The latest decision has been taken after Dhoot failed to pay the fine imposed on him in March by Sebi for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. In an attachment notice on Monday, Sebi said the pending dues of Rs 5.16 lakh include the initial fine of Rs 5 lakh, interest of Rs 15,000 and a recovery cost of Rs 1,000.
Given the 2024 general elections, it is unlikely that the allegations around electoral bonds, raised by the Opposition, will disappear easily or with a shrug of the BJP's shoulders and fabled 56-inch chest, argues Shyam G Menon.
It is in power on its own only in three states -- Karnataka, Himachal Pradesh and Telangana -- with a big question mark on whether it can even stake claim to be head of the INDIA bloc.
The government on Friday made it mandatory for social media influencers to disclose their "material" interest in endorsing products and services and violations can attract strict legal action, including ban on endorsements. The regulations are part of continuing efforts to curb misleading advertisements as well protect the interests of consumers amid the expanding social influencer market which is projected to be worth around Rs 2,800 crore by 2025. The new guidelines named 'Endorsement Know Hows -- for celebrities, influencers and virtual media influencers (Avatar or computer generated character) on social media platforms' has been issued by the Department of Consumers Affairs.
India has been named among the top 10 Asian countries who are paying an increasing importance towards corporate social responsibility disclosure norms, a survey says.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
UBHL chairman sold 8.41% stake, but didn't disclose.
Amid current geopolitical challenges and a slowdown in global growth, veteran emerging market investor Mark Mobius called India a safe haven for investors, backed by a stable government. The renowned investor, who is excited about the opportunities available in India, said the country is now the second largest in the portfolio of Mobius Capital Partners after Taiwan. Calling India a "land of opportunities and innovation", he said that his optimism about India is driven by the stable government and young demographic, with an average age of 27 years.
Delhi Police has sought the help of its Lucknow counterparts to trace a 'cyclist cobbler' who created cavities in the shoes of Parliament security breach case accused Sagar Sharma and Manoranjan D to fit smoke canisters in them, sources said.
It was also revealed that Bashir motivated two youngsters and made them to join the terrorist ranks.
The new corporate governance norms for listed companies, currently being finalised by the Securities and Exchange Board of India, may also mandate greater disclosures regarding IPOs, sources said.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
A voter's right to know is 'far too important' in democracy than the privacy of a donor, Supreme Court judge Justice Sanjiv Khanna said on Thursday as the apex court scrapped the 2018 electoral bond scheme for funding political parties.
The Narendra Modi-led National Democratic Alliance government, like its United Progressive Alliance predecessor, seems to be failing on suo motu disclosures under the Right to Information Act.
A bench of justices Surya Kant and Dipankar Datta admitted the appeal filed by Ravindhranath against the high court order for hearing and issued notice to P Milany, who filed the petition challenging his election from the Theni constituency.
A plea has been filed in the Supreme Court for initiation of contempt proceedings against the Securities and Exchange Board of India (SEBI), alleging it has violated the timeline for completing the investigation and submitting its report on the allegations of stock price manipulation by the Adani group. An application has been filed by PIL petitioner Vishal Tiwari saying that despite the deadline given to the SEBI it has failed to comply with the direction of the court and has not submitted the final conclusion/report as was directed by the court. It said by the order dated May 17, 2023, the apex court directed SEBI to submit its report till August 14, 2023.
'Corporates who donated to political parties were guaranteed by the electoral bond scheme that their names and to who they were donating funds will be not disclosed.'
Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month. Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates. "We are working on updating all key sections simultaneously.
The Delhi high court said on Friday the purpose of Right to Information (RTI) Act is to bring in transparency, and if any information has been sought, it should be made public unless exempted from disclosure under the law.
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