COMPANIES & SECTORS


Moneylife Digital Team 17 June 2024
The next time you consume 'Hunter' and 'Woodpecker' beers as well as Pentagon Gold Edition Whisky, Milestone Blue and Legend Premium Whisky, White Fox Vodka, Milestone Brandy, Pentagon Rum and Black Fort Rum, remember the company was caught using child labour, underpaying them and also ignoring...

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Moneylife Digital Team 17 June 2024
Chowgule Steamships Ltd (CSL), the flagship company of the Chowgule family, has been reporting a Guernsey-registered Quail Investments Ltd as its promoter group entity with about a 6.23% stake in the company. The problem is, according to the Guernsey registry authority, Quail Investments was...

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Even while the coalition partners are slated to take office in the next few hours to form the new team at the Centre, it is interesting to note that the captains of the industry have, in a poll held by the Business Standard, emphasised the urgency to address the issue of unemployment in the...

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Moneylife Digital Team 14 June 2024
The Chandigarh bench of the national company law tribunal (NCLT) has given the green light for the merger of Air India and Vistara, paving the way for forming India's most prominent international and second largest domestic carrier.   Last week, the two-member bench of NCLT noted that the...

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Moneylife Digital Team 14 June 2024
Securities and Exchange Board of India (SEBI) has debarred background check company SecUR Credentials and its managing director (MD) Rahul Belwalkar from the securities market, for imposing significant restrictions due to alleged financial irregularities and corporate governance lapses. This...

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Moneylife Digital Team 14 June 2024
Ambuja Cements Ltd from the Gautam Adani-led Adani group will acquire Hyderabad-based Penna Cement Industries Ltd (PCIL) for an enterprise value of Rs10,422 crore. The deal will add 14MTPA (million tonnes per annum) capacity to the country's second largest cement manufacturer.   Ambuja...

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Moneylife Digital Team 13 June 2024
Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs7 lakh on Majestic Auto Ltd for the company's failure to obtain approval from the audit committee and shareholders for related party transactions (RPTs) during FY18-19.   In an order last week, Amar Navlani, adjudicating...

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Moneylife Digital Team 12 June 2024
Johnson & Johnson (J&J) has agreed to pay US$700mn (million) to settle an investigation by 42 US states and Washington DC into its marketing of baby powder and other talc-based products blamed for allegedly causing cancer, says a news report.   According to a report from Reuters, the...

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Moneylife Digital Team 11 June 2024
The Insolvency and Bankruptcy Board of India (Board/IBBI) has released a discussion paper on reducing compliance by reviewing corporate insolvency resolution process (CIRP) forms submitted by insolvency professionals (IPs) to IBBI. The Board seeks public comments by 1 July 2024.    Stating...

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Moneylife Digital Team 10 June 2024
In a worrying development for shareholders of Suzlon Energy Ltd, one of its independent directors, Marc Desaedeleer, resigned from the company's directorship on 8 June 2024, citing dissatisfaction with the corporate governance standards practised by the renewable energy giant.   Mr

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Moneylife Digital Team 10 June 2024
Following specific amendments in the Insolvency and Bankruptcy Code (IBC) for real estate projects to aid resolutions, asset reconstruction companies (ARCs) are set to see an increase in the cumulative recovery rate for stressed residential real estate projects by 500-700bps (basis points) to...

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Ritesh Gulrajani 07 June 2024
Everyone loves to travel and what we have seen in 2023 and now in 2024 is that the demand has outpaced the supply by quite a margin. The flight and hotel rates are over the top for most travellers. A 4-star hotel in Vietnam and Bali is more economical compared to a similar category in Lonavala...

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While small cybercriminals continue to attack mostly individuals, more sophisticated and resourceful criminals (read: with money power) target industries using malware and ransomware to exploit vulnerabilities in a company's computer system. For example, in 2023, LockBit, one of the most...

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Discussing a company in the suitcase business appears not ill-timed when a mega election, that would have seen many thousands in operation, just concluded!      VIP Industries Ltd, which has a ubiquitous presence in almost every household in the country, is in the news today for an intriguing...

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Moneylife Digital Team 06 June 2024
Following an order from the Supreme Court, all advertisers and advertising agencies are mandated from 18 June 2024 to submit a 'self-declaration certificate' before publishing or broadcasting any advertisement. The certificate, signed by an authorised representative of the advertiser or...

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Moneylife Digital Team 06 June 2024
The ad hoc group of term loan lenders of Byju's Alpha Inc's US$1.4bn (billion) term loans says that certain holders of the term loans and GLAS Trust Company LLC, as administrative agent and collateral agent of the term loans, have filed petitions under chapter 11 of the US Bankruptcy Code to...

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Moneylife Digital Team 05 June 2024
Binny Ltd's chairman and managing director (CMD), M Nandagopal, says he has not resigned as CMD of the company, and he does not recollect signing any resignation letter, as claimed by his son Arvind Nandagopal.   In a regulatory filing, the CMD says, "Arvind Nandagopal is claiming that I have...

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Godfrey Philips Ltd, a noted player in the Indian cigarette market, is witnessing a bitter battle between the members of the late KK Modi family for the succession to the Rs20,000 crore enterprise.    The family owns nearly 47.73% stake in the company and the dispute among the family members...

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The fight within the Kirloskar business family resembles the battle field in Kurukshetra, where independent battles between different key warriors on either side was simultaneously on show!    Among the many battles being fought in different forum, the one that figures for discussion here is...

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In October 2022, the US Securities and Exchange Commission (SEC) issued a final rule aimed at ensuring that executive officers do not receive 'excess compensation' if the financial results on which previous awards of compensation were based are subsequently restated because of material...

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