ECONOMY & NATION


The ministry of home affairs (MHA) has told the Supreme Court (SC) that in spirit of the 'Azadi Ka Amrit Mahotsav' and the prime minister's (PM's) unequivocal views in favour of protection of civil liberties and to shed colonial baggage, the government has decided to re examine and re...

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Moneylife Digital Team 09 May 2022
Domestic steel prices are showing signs of fatigue after a relentless rally over the past two years following supply disruptions, de-carbonisation measures globally, especially in China, and geopolitical risks stemming from the Russia-Ukraine war, which has driven up raw materials costs, says...

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The monthly average retail price of wheat flour (atta) has risen nearly in the past one year period to Rs 32.3 per kg. The current prices are the highest since January 2010.   At the same time last year, its average price was at Rs 29.1, as per the data maintained by the Price...

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“There were journalists, even at that time, who prided themselves on the fact that they had access to persons in authority. And certainly, in many newspapers, the owners and their editors had ingratiated themselves with the rulers. But I think they were not looked up to, and people saw...

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Banks have got accustomed to swallow the bitter pill in bad loan cases and the level of recoveries is no reflection on the avenue availed, whether it is the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SAFAESI) Act, 2002 or corporate insolvency...

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Larsen & Toubro Limited as the promoter will own 68.73 per cent stake in the combined entity created by the merger of Mindtree and L&T Infotech (LTI).   Mindtree, a leading digital transformation partner with market cap of Rs 578.4 billion will merge into LTI, a global technology...

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As Maharashtra reels under a heat wave, coal shortages and resources crunch with over Rs76,000 crore in unpaid power bills, it has emerged that even VVIPs and politicians across the political spectrum have blatantly defaulted in clearing their electricity consumption dues.   While...

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Moneylife Digital Team 05 May 2022
Newspaper readers in the mainline media were surprised at a huge, quarter page advertisement in big, double spaced type offering an unconditional and unreserved apology to Azim Premji of Wipro, Yasmee Azim Premji and others in the group. The advertisement mentions that the apology is being...

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Moneylife Digital Team 05 May 2022
Retail auto sales in April 2022 continue to show higher numbers due to a low base. However, compared with the pre-COVID month (April 2019), auto sales in April this year are down 6%, says the Federation of Automobile Dealers Associations (FADA).   According to FADA, auto retail sales...

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The central bureau of investigation (CBI) has arrested an interim resolution professional (IRP) of the National Company Law Tribunal (NCLT), Mumbai, and two others including a jeweller in a bribe case of Rs2 lakh, here on Thursday.   Following a complaint lodged against the IRP,...

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Moneylife Digital Team 04 May 2022
Off-balance-sheet borrowings of states are estimated to have reached a decadal high of about 4.5% of gross state domestic product (GSDP), or around Rs7.9 lakh crore, in fiscal 2022. That marks a rise of 100bps (basis points) from fiscal 2020, reveals a CRISIL Ratings' study of 11 states that...

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Rintu Mariam Biju (The Leaflet) 04 May 2022
The Supreme Court on Monday reiterated that excess payments made to employees cannot be recovered after their retirement on the ground that the said increments were granted owing to an error, in the case of Thomas Daniel versus State of Kerala & Ors.   A division bench of Justices S...

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In a major crackdown against a reality firm, the Haryana Real Estate Regulatory Authority (HRERA) on Tuesday issued arrest warrants against the directors of Ansal Housing Corporation Ltd, besides issuing summons to its managers for failing to deliver a housing unit on time and for not...

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The National Company Law Tribunal has issued notice to Emaar India Ltd, asking it to file a status report on a plea filed by its erstwhile joint venture partner MGF Developers Ltd.   The respondent (Emaar) is directed to file a status report of any major decision taken by it,...

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Moneylife Digital Team 02 May 2022
Once again, the burgeoning pendency of legal cases at all levels of the judiciary in India has been highlighted by none other than the attorney general KK Venugopal. Speaking at a reception in New Delhi, Mr Venugopal says, with technology, it is possible to track pendency of cases; however,...

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The central bureau of investigation (CBI) has recovered incriminating documents from the premises of three top realtors—Shahid Balwa, Avinash Bhonsle and Vinod Goenka—in Mumbai and Pune during raids in connection with Yes Bank-DHFL scam.   The federal probe agency had arrested Sanjay...

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As Bitcoin hovers in the range of US$38,000-US$40,000 per digital coin, billionaire Warren Buffett has said that he will not even pay US$25 for all the Bitcoin in the world.   Addressing Berkshire Hathaway's annual shareholder meeting, the ace investor said Bitcoin is not a productive...

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The central bureau of investigation (CBI) on Monday said that they have lodged a new case against fugitive businessman Mehul Choksi and his company Gitanjali Gems for allegedly defrauding the Industrial Finance Corporation of India (IFCI) to the tune Rs22 crore between 2014 and...

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Moneylife Digital Team 02 May 2022
In April, Indian transporters passed on the higher diesel prices by raising freight rates on several routes. However, fleet utilisation was flat on a monthly basis, says a research note.   In the report, rating agency CRISIL says, "While there was higher utilisation for agri-products,...

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Hours after the enforcement directorate (ED) seized Rs5,551.27 crore of Xiaomi Technology India Private Limited lying in the bank accounts under the provisions of Foreign Exchange Management Act (FEMA) in connection with the illegal outward remittances made by the company, Xiaomi said that as...

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