COMPANIES & SECTORS


Moneylife Digital Team 06 June 2023
Terming demands for prepayment from lenders for its US$1.2bn (billion) term loan B (TLB) as ‘hawkish’, education technology (edtech) company BYJU's has filed a suit in a New York court against a group of TLB lenders, say reports.   In what is possibly the first action of its kind by...

Read More



The Delhi High Court has issued a restraining order against Dabur, an Indian multinational consumer goods company, prohibiting the circulation of its WhatsApp advertisement featuring Bollywood actor Deepika Padukone for "Dabur Amla Hair Oil."   A single-judge bench of Justice Navin...

Read More



The central bureau of investigation (CBI) has lodged a case against IL&FS Transportation Network Ltd and its directors on charges of defrauding 19 banks of Rs6,524 crore between 2016 and 2018.   IL&FS Transportation Network Ltd is a subsidiary of IL&FS which had filed for bankruptcy...

Read More



Moneylife Digital Team 02 June 2023
Info Edge (India) Ltd, the owner of Naukri, has started a forensic audit of Broker Network (operated by 4B Networks Pvt Ltd) founded by Rahul Yadav for repeatedly failing to provide information on financial transactions and transactions with related parties, among other things. Allcheckdeals...

Read More



The directorate general of civil aviation (DGCA) has told the Delhi High Court (HC) that it was due to a technical glitch on its portal that the applications of several aircraft lessors of cash-strapped Go First airline for de-registration of their aircraft were shown as...

Read More



Moneylife Digital Team 31 May 2023
Raising concerns over Adani Ports & Special Economic Zone Ltd's transactions with three entities, the company auditor Deloitte Haskins & Sells LLP says it can only issue a qualified opinion on the accounts due to insufficient disclosures. All three transactions mentioned in the qualified...

Read More



JioCinema, the official digital streaming partner of IPL (Indian Premier League) 2023, has broken the world record for the most concurrent views to a live-streamed event on Monday as over 3.2 crore viewers witnessed the finale of this year IPL, featuring Chennai Super Kings versus Gujarat...

Read More



Back in February 2021, I had written an article in this magazine titled “Flogging a Dead Horse” – about Kolkata’s tram company.   Actually, this company has just 2,000 people and Rs15 crore of annual loss. Hence, it is not quite horse-sized—maybe just a little pony.   What...

Read More



Reliance Power has made a Rs1,200 crore one-time settlement (OTS) offer to the lenders of its subsidiary, Vidarbha Industries Power Ltd (VIPL), to settle the debt.   Reliance Power has offered to pay Rs1,200 crore in upfront cash to the lenders of VIPL which include Axis Bank, SBI,...

Read More



The national company law appellate tribunal (NCLAT) on Monday upheld the NCLT's (national company law tribunal's) order granting moratorium to the Wadia group's Go Airlines (India) Ltd.     NCLAT decided on the petitions filed by some lessors who had leased aircraft to Go...

Read More



As the insolvency issue of SpiceJet heats up, prior red-flagging to the company by the directorate general of civil aviation (DGCA) had pointed out long awaited trouble for the aviation giant.   Last year itself, DGCA had warned the airline after noticing various anomalies regarding...

Read More



The Indian government-owned telecom major Bharat Sanchar Nigam Ltd (BSNL) has awarded the order for deployment of 4G network across the country to a Tata Consultancy Services Ltd (TCS)-led consortium.   In a regulatory filing, the TCS said: "The consortium led by Tata Consultancy...

Read More



A company, which is on the verge of scoring a century, possessing a brand that is a household name that became noted for removing its former chairman, who also acted as its brand ambassador, due to a family dispute a la a coup in the Mughal or the Mauryan court, has often taunted its...

Read More



Moneylife Digital Team 20 May 2023
In an important judgement about permitting comparative advertising, the Delhi High Court (HC) rejected the contention of Reckitt Benckiser (India) Pvt Ltd, the manufacturer of Dettol, to stop Wipro Enterprises (P) Ltd from broadcasting or displaying its advertisement for Santoor...

Read More



Hyundai and Kia have agreed o a US$200mn (million) settlement to resolve class-action litigation with owners of certain Hyundai and Kia vehicles without push-button ignitions and immobilising anti-theft devices, or so-called 'Kia Challenge' on TikTok.   Hyundai Motor America and Kia...

Read More



The enforcement directorate (ED) has conducted searches at several locations belonging to Mumbai-based company GTL Ltd in connection with allegations of fraudulent diversion of bank loan funds by the company and its promoters. GTL Ltd operates in the telecom network services...

Read More



Moneylife Digital Team 16 May 2023
Tier-1 cities across India have seen surplus growth in housing supply in FY22-23 due to a plethora of new launches by property developers. While sales have also seen growth during this period, there is still a sharp increase in unsold residential units as well. Liases Foras, a non-broking...

Read More



The number of insolvency cases referred under the Insolvency and Bankruptcy Code (IBC) has gone up by 24% in Q4FY22-23 after a slowdown in FY20-21 and FY21-22, said CARE Ratings.   According to the credit rating agency, the distribution of cases across sectors continues to remain...

Read More



The central bureau of investigation (CBI) on Monday said that they have registered a case on a complaint from the State Bank of India (SBI) against a Raigad-based private firm Loha lspaat Limited, its managing directors Rajesh Gaurishankar, its director Rajesh Mohanlal Aggarwal and others on...

Read More



Vice Media Group has filed for bankruptcy and the company's lenders, Fortress Investment Group, Soros Fund Management and Monroe Capital, agreed to purchase the company for $225 million -- just about 4 per cent of the company's highest valuation just over six years ago.   In 2017,...

Read More

Free Helpline
Legal Credit
Feedback