Mhada presently has only Mumbai and Nashik cities in mind. If it takes off here, the thinking is to extend this to Pune and Aurangabad, and then elsewhere, if a common formula could be arrived at.
The Reserve Bank on Wednesday permitted wholly-owned subsidiary (WOS) of foreign banks to acquire domestic private sector banks as well as set up branches anywhere in the country.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
Sony Pictures Networks India Pvt Ltd (SPNI) and Zee Entertainment Enterprises Ltd (ZEEL) on Wednesday said they have signed definitive agreements for their merger following conclusion of an exclusive negotiation period during which both parties conducted mutual due diligence. In a joint statement, the two companies said they have "signed definitive agreements to merge ZEEL with and into SPNI and combine their linear networks, digital assets, production operations and program libraries". The agreements follow the conclusion of an exclusive negotiation period during which ZEEL and SPNI conducted mutual due diligence, it added.
The government on Monday urged private operators to play a big role in providing rural telephony across the country to reach a respectable level of teledensity.
A private bus that mowed down a teenager in Mukstar and another that crushed a 10-year-old girl belong to a transport company owned by SAD leader Hardeep Singh Dhillon.
Naik, the founder of proscribed Islamic Research Foundation, has been asked to appear before the anti-terror agency at its headquarters in Delhi on March 14
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
The rights on offer are Indian Sub-continent Television Rights from 2018 to 2027 (10 IPL seasons), Indian sub-continent Digital Rights from 2018 to 2022 (5 IPL seasons) and Rest of the World Media Rights from 2018 to 2022 (5 IPL seasons).
The Karnataka high court on Friday quashed the notice issued to Twitter India Managing Director Manish Maheshwari by the Uttar Pradesh police, seeking his personal appearance as part of its probe into a communally sensitive video uploaded by a user on Twitter platform, saying it was issued by mala fide.
Edtech major Byju's has raised over Rs 363 crore (about USD 50 million) in funding from Maitri Edtech and IIFL's private equity fund, according to regulatory documents. Over the past few months, Byju's has raised funding from a slew of investors that has placed the edtech major among the most-valued start-ups in the country. Byju's is estimated to have raised about $2.3 billion in funding so far with valuation touching $6.5 billion.
US auto major Ford Motor Co will shut its two manufacturing plants in India and will sell only imported vehicles in the country as part of a restructuring exercise, according to people aware of the development. The company, which invested about USD 2.5 billion at its Chennai (Tamil Nadu) and Sanand (Gujarat) plants, will stop selling vehicles such as the EcoSport, Figo and Aspire which are produced from these plants. Going ahead, it would only sell imported vehicles like Mustang in the country.
Despite the 33 per cent reduction in roaming rates for mobile phones announced by private cellular operators, including Airtel and Hutch, their charges would still be almost double than that of state-owned BSNL.
American electric car maker Tesla has registered its Indian arm amid indications that the company is set to enter the country's automobile market. According to a regulatory filing, the firm has registered Tesla India Motors and Energy Pvt Ltd with RoC Bangalore. The company has been registered as an unlisted private entity with a paid up capital of Rs 1 lakh.
Private life insurers have entered into their eighth year of operations in the country but they are yet to generate profits.
The top court also stayed the proceedings against a third journalist, an associate editor in the same media house, who was recently summoned by the police in connection with the reports on violence.
The government has imposed a penalty on e-commerce major Amazon for not displaying mandatory information, including the country of origin, of products sold on its platform, according to an official order. Last month, the consumer affairs ministry had issued notices to e-commerce majors Flipkart and Amazon for not displaying such information. The ministry has imposed a fine of Rs 25,000 on Bengaluru-based Amazon Seller Services as well as each of its directors as per the provisions of the Legal Metrology Act, 2009 and the Legal Metrology (Package Commodities) Rules, 2011.
The government on Tuesday asked the industry to make its stance clear on the issue of reservations in private sector.
Reserve Bank of India should introduce interest rate options based on Indian rupee benchmark, a financial derivative instrument, to meet future financing requirements of clients, according to the representatives of leading private banks.
A special court in Mumbai on Tuesday remanded Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, to ED custody till October 17. Deepak Kochhar was arrested by the Enforcement Directorate in September under the Prevention of Money Laundering Act (PMLA) in the ICICI Bank-Videocon money laundering case.
The regulator had earlier asked these banks to submit a road map and give a time frame for paring promoters' shareholding to 10 per cent.
Raising its pitch against the UPA government's move to reserve jobs in the private sector, industry body FICCI on Thursday said it was no solution to unemployment in a market-driven economy and offered its services in imparting skills for generating
The court in its detailed order also raised questions on the veracity of the NCB's panchnama records.
India's biggest car maker Maruti Suzuki said on Tuesday that its vehicle production in September will tumble by 60 per cent due to chip shortage. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 per cent. Owing to a supply constraint of electronic components due to semiconductor shortage, the company is expecting an adverse impact on vehicle production in September in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt Ltd. (SMG) in Gujarat.
The policy proposes a contingency plan to handle cyber attacks on vital installations and critical infrastructure.
Sebi on Monday imposed a penalty totalling Rs 15 crore on senior officials of Franklin Templeton AMC and its trustee for violating regulatory norms in the case of winding up of six debt schemes in 2020. However, a spokesperson of Franklin Templeton said they disagree with the findings in Sebi's order and intend to file an appeal with the Securities Appellate Tribunal (SAT). A fine of Rs 3 crore has been levied on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Franklin Asset Management (India) Pvt Ltd President Sanjay Sapre and its chief investment officer Santosh Kamat, according to the Sebi order. In addition, the regulator imposed a penalty of Rs 1.5 crore each on fund managers -- Kunal Agarwal, Pallab Roy, Sachin Padwal Desai and Umesh Sharma -- as well as former fund manager Sumit Gupta.
Prime Minister Manmohan Singh has assured the industry that the government would not impose its job reservation policy on the private sector and said steps would be taken to uplift the downtrodden.
After having allowed private Indian airlines to fly to SAARC countries, the Union Cabinet is likely to take a decision to permit them to launch operations to other international destinations in a month's time, civil aviation minister Praful Patel sai
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.
A Mumbai court on Tuesday rejected a bail plea of businessman Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar and an accused in a money laundering case. He was arrested by the Enforcement Directorate (ED) in September under the Prevention of Money Laundering Act (PMLA) in the alleged ICICI Bank-Videocon money laundering case. Special PMLA judge P P Rajvaidya rejected the `regular' bail application of Deepak Kochhar, filed on merits of the case as against technical grounds.
The industry, which has been highly unregulated in the past and which continues to be so in states where the Private Security Agency Regulation Act has not been implemented, is still struggling to infuse some standard best practices. Karnataka, which has been on the radar of terrorists, has still to implement the Act,which would bring under perview all its current players and infuse standard practices.
Mukerjea recorded her statement under the Prevention of Money Laundering Act and said she and her husband Peter Mukerjea met Chidambaram at his office in Delhi's North Block.
According to the chargesheet, Shetty told the police that she did not know anything about the HotShots and Bollywood Fame apps, allegedly used by the accused for uploading and streaming obscene content.
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