In what is amongst the first focused fund in the space, India Media Entertainment Fund (IMEF) is raising Rs 500 crore, which will provide both equity as well as instruments like non-convertible debentures (NCD) to companies in the content, distribution platform and services areas. The private equity fund has appointed a high-profile advisory body which includes ad guru Prahlad Kakkar, managing director of Red Chillies Entertainment and cricket team KKR Sports, actress and entrepreneur Raadhika Sarathkumar, who has starred in Malayalam, Hindi and Kannada films and runs Radaan Mediaworks. It also includes Ramnath Pradeep, former chairman and managing director of Corporation Bank, and Rajesh Gupta, senior partner of law firm SNG Partners.
CAIT had last month also filed a petition in National Company Law Appellate Tribunal (NCLAT) against the Competition Commission of India's decision to approve the deal.
Traders are 'chowkidar' (watchman) of Indian economy, CAIT secretary general said.
The two-wheeler industry was hit by an increase in insurance rates, liquidity crunch, poor sentiment, rural distress and uncertainty over the BS-VI regulations, among other factors.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
Here's a recap of moments captured in India in the last week.
Rediff readers tell us how they are celebrating Ganeshotsav.
'Traders have stocked up for upcoming festivals and will make a loss if stores remain shut now. We suffered last year. We can't suffer again. There is no scientific basis for closing all commercial establishments. How long will the government keep them shut?'
'There is a clear business impact. People are avoiding crowded places and gatherings across cities. This is hitting business, both at traditional and modern trade outlets, during the Holi season, which kicked off from Saturday,' says Praveen Khandelwal, general secretary, Confederation of All India Traders (CAIT).
On Saturday, an online marijuana sale racket was busted by Bhind police in Madhya Pradesh, leading to the arrest of two persons and seizure of 20 kilograms of the contraband, according to an official. The accused were operating the racket through a leading e-commerce firm, which received two-thirds of the profits generated, as per the official.
Modi vs Kejriwal duel has triggered a spike in voter turnout, says Aparna Kalra
Breaking through the shackles of poverty by bowling pinpoint yorkers at will, Thangarasu Natarajan has done almost everything he could for his family, except for convincing his mother to give up selling chicken on the roadside.
Rajasthan Chief Minister Ashok Gehlot's son Vaibhav will contest from Jodhpur and Manvendra from Barmer.
'I always feel that if I have not done anything in the past year, people will probably forget me.'
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
The Confederation of All India Traders has approached Union Home Minister Amit Shah, Union Health Minister Harsh Vardhan, Delhi Lieutenant Governor Anil Baijal, and Chief Minister Arvind Kejriwal, and urged them to shut markets in Delhi.
While Bangladesh ranked 75, Myanmar and Pakistan are in the 78th and 88th position. Last year, India's rank was 102 out of 117 countries.
Traders' body CAIT on Thursday urged the government to impose a ban on Amazon's e-commerce portal and its operations in India, accusing the global e-tailing giant of indulging in predatory pricing, deep discounting and inventory control. Addressing a press conference, CAIT secretary-general Praveen Khandelwal demanded an "immediate ban on Amazon's portal and its operations in India" and an investigation against the company in a time-bound manner. He also urged the government to probe the business practices of Amazon and Flipkart. However, responding to the allegations, both Amazon and Flipkart said they remain compliant with Indian laws.
In two months, as many as 25 complaints have been sent to Enforcement Directorate, Competition Commission of India, Reserve Bank of India and income tax department, beside various state agencies, to thwart the deal.
Here's a recap of moments captured in India in the last week.
Trade analyst Vinod Mirani gives the box office verdict if the week.
In an open letter, the Confederation of All India Traders has appealed to Aamir Khan, Deepika Padukone, Katrina Kaif, Virat Kohli and others to stop endorsing Chinese products. It has also invited Amitabh Bachchan, Akshay Kumar, Shilpa Shetty, Madhuri Dixit, Mahendra Singh Dhoni, Sachin Tendulkar and others to join the campaign to boycott Chinese products under its flagship national movement 'Bharatiya Saaman-Hamara Abhiman'.
Pranab Bardhan became the oldest man in Indian contingent to win a medal at the 18th Asian Games as he joined forces with Shibhnath Sarkar to clinch gold in men's pair event of the bridge competition.
"At present, our credit card base is 7.5 million," he said. Sachin Khandelwal, senior general manager for retail assets, however, declined to comment on specific details, such as the magnitude of the reduction in the bank's credit card business over the past year. The country's second-largest lender, which spearheaded the growth of retail finance in the country, has also been going slow on retail loans for the past few years.
India's schedule at the Asian Games: Day 4
'I feel grateful that people are at home and are looking for something to watch.'
The Bombay high court on Friday dismissed a contempt petition filed against Maharashtra government in the Maval police firing incident of August 2011 wherein three farmers were killed.
'I would love to be a part of Bollywood. Sadly, only glamorous roles have been offered to me until now, where I have nothing to do, just be a glam-doll.'
Joginder Tuteja looks at the new shows on our plate.
The GST rate for the sector has not yet been finalised by the government.
There was, however, no common ground between the government and the traders delegation as Commerce and Industry Minister Anand Sharma made it clear to them that there was no question of rollback of the decision to open the multi-brand retail to foreign investment.
Pollution levels spiked to severe levels in Delhi with thick haze blanketing the city on Tuesday, reducing visibility drastically and affecting flights and trains, prompting Chief Minister Arvind Kejriwal to describe the national capital as a "gas chamber".
Readers share their travel pics. You can share yours too!
Khandelwal also said the Advani's controversial Pakistan visit should be discussed.
As macroeconomic numbers continue to disappoint, reaching pre-Covid level is unlikely in FY21.
ZEE5 has launched a short film festival. Joginder Tuteja tells you what's on offer.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
Fever may be a thriller but it does not have any edge-of-the-seat moments, feels Tista Sengupta.
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