"In fact, we are in negotiation with stakeholders including ISL franchisees on the issue," Dhar told reporters at the 11th Convocation of Tata Football Academy (TFA) in Jamshedpur.
Move to strengthen market share and become more profitable.
The International Financial Services Centres Authority (IFSCA) has proposed key exemptions to the current listing framework and measures for setting up holding companies (holdcos) and special purpose acquisition companies (SPACs) to encourage domestic startups list at GIFT City, the country's only international financial services centre (IFSC). Under the current framework, to be eligible to list on IFSC exchanges, an issuing company should have operating revenue of at least $20 million in the preceding financial year and average pre-tax profits of at least $1 million during the preceding three financial years. An expert committee has noted these conditions have acted as hurdles to listing new-age companies, and they need a relook.
Communist Party of India-Marxist leader Sitaram Yechury's stand that CPI-M and CPI should merge evoked a mixed response in the two Left parties even as he stressed that the merger would have a 'positive' impact on national politics
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
The government on Thursday said it will encourage mergers of public sector banks to create strong entities, which can compete with other world-class banks.
Australian Open holder Djokovic will make his ATP Cup debut for Serbia against South Africa in Brisbane on Saturday while Nadal will lead Spain into action against Georgia in Perth on the same day.
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
Although the BRS is projecting supreme confidence, who will be able to tap anti-incumbency -- the BJP or Sharmila plus the Congress -- remains to be seen.
We must stop stigmatising business failures. Particularly when startups are mushrooming all around, the financial system, backed by the RBI and the government, can explore ways of extending support to restart the journey of a failed entrepreneur by finance as well as counselling, recommends Tamal Bandyopadhyay.
Emirates Telecommunications of the United Arab Emirates, better known as Etisalat, is in discussion with Reliance Communications for a possible merger or acquisition.
Australian Open chief Craig Tiley believes any Saudi Arabian investment in tennis would not have the same impact as in golf.
The proposed merger between two state-run telecom giants -- Bharat Sanchar Nigam Limited and Mahanagar Telephone Nigam Limited -- might have hit a roadblock, but both the companies plan to synergise their operations across the country.
Sending a clear directive to Global Trust Bank employees to triple their business, its acquirer Oriental Bank of Commerce has set a growth target of 30 per cent for the combined entity at about Rs 80,000 crore (Rs 800 billion) this fiscal.
Google Inc is expected to command more than a third of the world's $140 billion digital advertising spending this year
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
It also recommended fixing of responsibility on 'agencies and individuals' who took such a 'whimsical' decision and sought 'suitable action' to prevent such 'intangible loss' being caused to a state-run company.
On June 27, the boards of GTL, RCom and its subsidiary Reliance Infratel Ltd had given in-principle approvals to the Rs 50,000-crore ($11 billion) merger deal to create the world's largest independent telecom infrastructure company, neither owned nor controlled by any telecom operator.
Private players continued to show strong momentum in the life insurance individual new business segment during August, 2023. On an aggregate, the industry registered 14 per cent growth year-on-year (Y-o-Y) compared to 15 per cent in July '23. Private players were up 21 per cent Y-o-Y, up from 16 per cent Y-o-Y in July '23, while public insurers' growth was muted at 3 per cent.
Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.
The Supreme Court made it clear on Thursday it will not allow stalling of the arbitral proceedings pending before the Singapore International Arbitration Centre (SIAC) pertaining to the ongoing legal tussle between US e-commerce major Amazon and the Future Group, saying the sanctity of such proceedings needed to be maintained. "You (Future group and others) cannot keep stultifying the proceeding before the arbitral tribunal and this is just a ploy to delay the proceeding. "These are all ploys by well-heeled parties to delay the arbitration proceeding.
French carmaker Citroen will launch its C3 Aircross Sport Utility Vehicle (SUV) in India by October, and is betting big on exports from India to markets like South Africa, ASEAN (Association of Southeast Asian Nations) and Nepal, a top company executive told Business Standard. Citroen, which sold 6,000 units through Citron C3 and C5 Aircross SUV, is likely to double its sales during the current year, as it has already sold 6,000 units of Citron C3 and eC3 electric vehicles during the first six months. "We are going to start bookings for the C3 Aircross SUV in September and launch it in October. Price will be at the heart of the midsize SUV market," said Saurabh Vatsa, Citroen India branch head.
Low-cost carrier SpiceJet's share price went up 9.5 per cent at the Bombay Stock Exchange today in an otherwise flat market fuelled by speculation that the airline was in merger talks with another Delhi-based low-cost carrier, IndiGo.
The world's biggest steelmaker Arcelor Mittal said on Friday it has received a writ of summons to appear before a Dutch court for legal proceedings initiated by Arcelor shareholders seeking an injunction against the mega merger of both the companies.
'AI is not a new thing for us. We started our AI journey in 2015.'
In a major relief to media major Zee Entertainment Enterprises Ltd (ZEEL), the National Company Law Appellate Tribunal (NCLAT) on Friday stayed the insolvency proceedings initiated against it earlier this week. Admitting a petition filed by ZEEL Managing Director and chief executive Punit Goenka, the appellate tribunal issued notices to private sector lender IndusInd bank and the interim resolution professional directing them to file a reply in two weeks. NCLAT said the submissions made by both sides need a detailed hearing.
Unlike the new private sector lenders, BoR employees' wages are still governed by the industry wage package negotiated by the Indian Banks Association with bank staff unions.
The Supreme Court said on Thursday the surrender of Jammu and Kashmir's sovereignty to India was "absolutely complete" with the accession of the former princely state in October 1947, and it was "really difficult" to say that Article 370 of the Constitution, which accorded special status to the erstwhile state, was permanent in nature.
The satellite radio bigwigs remain optimistic despite Capitol Hill, FCC, and NAB objections, not to mention swooning stock prices.
The committee looked into the merger of the two airlines and its impact on the domestic aviation industry.
Every banker loves the four-letter word Casa as it plays an important role in lowering the cost of deposits. Every bank wants to increase its Casa, as a higher portion of Casa in the overall deposit liability brings down its cost of money, points out Tamal Bandyopadhyay.
The change in policy for the three companies, from listing to merger, shows the level of discomfort within the government about their ability to take on the expanded load for insurance coverage with their current financial strength, including the massive premium and claim settlement cover under the proposed universal health coverage plan announced in Budget 2018.
Investment firm Invesco Developing Markets Fund, the largest shareholder in Zee Entertainment Enterprises, on Thursday said it will support the Zee-Sony merger deal and has decided not to pursue the call for ZEEL EGM to remove managing director and CEO Punit Goenka and two independent directors. The company said it will support the merger of Zee and Sony, contending the "deal in its current form has great potential for Zee shareholders" but added if it is not completed as currently proposed, Invesco retains the right to requisition a fresh EGM. Two days after the Bombay high court ruled that Invesco's call for EGM was legally valid, the investment firm in a statement said, "Since we announced our intention to requisition an EGM and add six independent directors to Zee's Board of Directors, Zee has entered into a merger agreement with Sony.
The name, brand and names of at least three top officials of the new airline, created by the merger of Air India and Indian, would be finalised by June this year.
Targeting a combined revenue of $100 million, Applabs Technologies, eSolutions and VisualSoft Technologies on Friday announced that the three companies plan to merge together.
US-based IT solution provider Ness Technologies on Tuesday announced a merger agreement with Pittsburgh-based software services firm Apar Infotech, which has development centres in Mumbai and Bangalore, in a stock swap valued at $78 million.
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