A Supreme Court-monitored bail-out of nearly 41,000 customers of the erstwhile Amrapali Group, which went into insolvency four years ago, has kicked off with the sale of the first 150 flats, said Anarock, the real estate agency hired to sell the stock. Amrapali Group, at one time one of the biggest names in real estate […]
State-owned oil companies such as Indian Oil, Bharat Petroleum Corporation and Bharat Petroleum are facing an under-recovery of Rs 12-15 per liter of petrol and diesel sold in the market, and may have to raise selling prices by around Rs 30 per liter to plug the under-recovery, according to industry sources. These companies had last […]
Reliance Retail, the retailing arm of India’s largest private company, seems to be readying alternative strategies now that the dispute over its acquisition of Future Retail – the operator of Big Bazaar super market chain – seems headed for a protracted hearing before the National Company Law Appellate Tribunal. According to a report in Times […]
Imagine that a taxpayer-funded college bans its students from wearing shorts on campus and a student approaches the court seeking to overturn the ban. If this happens in India, the first question the courts may ask the student is: Why do you want to wear shorts, is it part of your religious belief? If the […]
India’s Times Group, or BCCL, has made a partial return to the streaming TV platform run by India’s largest telecom operator, Jio TV, by restarting the transmission of its news channels via the app. It was in August 2020 that BCCL had pulled all its channels, including its English-language movie channels, from the Jio TV […]
Vodafone Idea will issue around 16 bln shares to Government of India in lieu of interest payments arising out of its decision to defer the payment of spectrum and other regulatory fees by four years, thus making the government the biggest shareholder in the company. The move, subject to valuation confirmation by government agencies, will […]
Kerala Police has started cracking down on the phenomenon of ‘couple swapping’ or ‘partner swapping’ — which has gained the status of an alternate lifestyle in the West — after a complaint from a married woman. Police said they have have arrested six people from the districts of Kottayam and nearby areas, without giving details. […]
Reliance Industries has raised $4 bln (around Rs 30,000 cr) via the largest ever foreign currency bond issuance by an Indian entity. The amount will be used to retire the group’s existing debt. The bonds have been issued in 10-year, 30-year and 40-year maturities, and also mark the first time any BBB-rated Asian company outside […]
The court of Chief Justice of Delhi High Court will today hear appeals filed by Future Retail and its promoters against a decision by a single judge bench yesterday that refused to issue directions to a Singapore arbitration panel. Yesterday, a Delhi High Court bench comprising Justice Amit Bansal had refused to accept arguments by […]
Bharti Airtel has abandoned its plan to reorganize its corporate structure by focusing on the digital business — such as its Wynk app, Airtel Cloud, Airtel Xstream and so on — by moving all telecom infrastructure into a different subsidiary known as Airtel Ltd. The move was announced eight months ago, and was widely seen […]
Someone like me would make an ideal bitcoin enthusiast – libertarian by political persuasion, open source enthusiast, early adopter of all kinds of technologies, hater of big government and possessor of what my wife calls a ‘mildly paranoid personality’. Yet, try as I might, I just can’t see bitcoin as anything other than the most […]
Tata Consultancy Services and Bharti Airtel said they tested a 5G-enabled and automated manufacturing set-up using the trial 5G spectrum allocated by Department of Telecom. Called ‘Neural Manufacturing Suite’, the technology aims to implement a ‘lights out’ factory set-up, in which the factory produces everything by itself without human or worker supervision or intervention. This […]
With the annual general meeting of Dish TV only five days away, the promoters of the direct-to-home satellite service have filed yet another case in Bombay High Court, hoping to stop YES Bank from exercising voting rights on its stake of over 24%. This is the fourth major legal challenge put in front of YES […]
Zee Entertainment Enterprises and Sony Pictures Networks India are likely to keep both flagship brands of the two companies going after their merger, while investing heavily into sports and digital businesses, according to comments made by Zee management after announcing the deal. “Both the brands are strong brands, and with loyalty attached to themselves. So […]
HSBC, the global financial services giant headquartered in London, has agreed to buy L&T Mutual Fund, the asset management business of L&T Finance — the non-bank financial services arm of the Larsen & Toubro group of India. L&T Finance will get $425 mln, or around Rs 3,200 cr, for the mutual fund unit which has […]
Bank of India, a public sector bank controlled by the government of India, today said it has bought out partner AXA Investment Managers from its mutual fund arm, BoI AXA. “Subject to the terms of the Share Purchase Agreement, Bank of India has paid Rs 900/- towards purchase of equity shares of BAIM and Rs […]
Quess Corp, which bought the rights to monster.com for most of the Asian markets three years ago, said investors Mohandas Pai and Akash Bhanshali have co-invested with it in the latest round of funding for the recruitment site. In total, said Quess Corp, the three parties invested Rs 112.5 cr, with an option to raise […]
With interest rates at multi-year lows, Bharti Airtel has used money raised from the market to prepay liabilities associated with its spectrum purchases during the auction of 2014. Under India’s spectrum auction rules, winners can opt to pay the majority of their obligations in the form of instalments over a period 10 years or more, […]
Infosys Ltd, one of India’s top IT services providers, said it has agreed to acquire Singapore Telecom’s Malaysia delivery center for up to SGD 6 million or around Rs 33.3 cr. Global Enterprise International Malaysia “acts as a delivery center to provide customer experience and technology services to Singtel,” the Bangalore-based company said. The company […]
Promoters of Zee Media Corp, the company that runs Zee branded news channels, have won shareholder nod to be allocated up to 13.5 cr warrants on shares, overcoming opposition from institutional investors. It was a month ago that the company’s board decided to put before shareholders a proposal that would see promoter group, the Subhash […]
