COMPANIES & SECTORS


A Seoul court on Monday approved a local consortium's acquisition of Mahindra & Mahindra-owned SsangYong Motor by Edison Motors for $254 million, paving the way for the financially-troubled carmaker to get back on track.   The consortium led by electric carmaker Edison Motors signed a...

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Moneylife Digital Team 11 January 2022
While struggling to hive off its stake in State-run telecom companies, the Indian government is set to own a 35.8% stake in private operator Vodafone Idea Ltd and about 9.5% stake in Tata Teleservices Ltd (Tata Tele) after converting the total amount of interest related to spectrum auction...

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Moneylife Digital Team 06 January 2022
Hyderabad-based Natco Pharma Ltd and Chennai-based Thejo Engineering Ltd are the winner and runner-up of Moneylife Foundation's inaugural Corporate Governance Award. In an online function, M Damodaran, former chairman of SEBI (Securities and Exchange Board of India) announced the winner and...

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Moneylife Digital Team 06 January 2022
A law court in Montreal district of Canada has allowed three Mauritius-based investors of Devas Multimedia Pvt Ltd, a joint venture between the Indian government-owned Antrix Corporation and Devas Multimedia Ltd, to seize funds deposited by Airport Authority of India (AAI) and Air India with...

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In a new development in the ongoing legal tussle between Amazon and Future Group, the Delhi High Court on Wednesday stayed further arbitration proceedings between the parties before the Singapore tribunal till February 1.   A bench, headed by Chief Justice D.N. Patel and comprising...

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The Competition Commission of India (CCI) on Wednesday told the Karnataka High Court that it may complete the ongoing anti-trust investigation into Google Play Store policies within 60 days.   The submission in the court was made on behalf of Additional Solicitor General N....

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COVID-led restrictions in several states and people starting working from home are expected to have a negative effect on retail automobile sales, the Federation of Automobile Dealers Association (FADA) said on Wednesday.   "Various state governments have once again announced Covid...

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R Balakrishnan R Balakrishnan 05 January 2022
Every country has hundreds of laws that govern behaviour. The fact that thousands of cases are pending in various courts, while thousands more are filed every day, tells us that we, as people, find it difficult to behave in a fair manner with fellow human beings and self-interest dominates...

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The IL&FS Group has completed sale of its 26% stake in ONGC Tripura Power Company (OTPC) to Gas Authority of India Limited (GAIL) at an aggregate valuation of Rs1,227 crore.   According to the Group, with this transaction, IL&FS has resolved a debt of approximately Rs3,656 crore,...

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India's pharma sector is expected to grow at 9%-11% in FY21-22, rating agency ICRA said on Tuesday.   It attributed the growth to the improving demand for non-COVID products in addition to new product introductions, rupee depreciation and expanding market coverage.   "Going...

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Moneylife Digital Team 04 January 2022
The Delhi High Court (HC) on Tuesday dismissed a petition filed by Future Retail seeking a direction to declare as illegal the ongoing arbitration proceedings with Amazon in Singapore.   Justice Amit Bansal at the Delhi HC says that the filings were dismissed without giving any...

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Kanwaljeet Singh Toor, one of the accused in the Rs 60,000 crore Pearl group scam case, who was currently lodged at the Rohini prison in the national capital has passed away, officials said on Tuesday.   Confirming about the development, Director General (Prisons) Sandeeep Goyal told...

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Moneylife Digital Team 03 January 2022
Freight rates for mining, steel and cement saw a healthy month-on-month (m-o-m) increase in December as construction activity resumed. According to rating agency CRISIL's first-of-its-kind index in India, CRISFrex, the rise seems to be driven by industrial activity, as almost on all routes,...

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Moneylife Digital Team 03 January 2022
Notwithstanding the devastating second wave of COVID-19, Indian residential real estate sector staged a convincing comeback in 2021. During 2021, housing sales rose 71% with about 237,000 units sold, thus reaching 90% of pre-COVID 2019 levels with the Mumbai metropolitan region (MMR)...

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In a new development in the Future Retail and Amazon legal battle, Future has moved the Delhi High Court (HC) seeking a direction to declare the ongoing arbitration proceedings by a Singapore panel with Amazon as illegal. In December last year, the Competition Commission of India (CCI) had...

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The Competition Commission of India (CCI) on Friday ordered a thorough anti-trust investigation into Apple over its App Store business practises.   The order came at a time when the Indian watchdog is fighting the same battle with Google over its Play Store policies that may hamper...

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Moneylife Digital Team / IANS 29 December 2021
The Union government has notified the Consumer Protection Rules, 2021, and asked the direct selling companies to comply with these rules within 90 days.   According to the ministry of consumer affairs, food and public distribution, the new rules will be applicable to all goods and...

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Dr B Yerram Raju Dr B Yerram Raju 29 December 2021
Despite the MSME Development Act 2006, and the Atma Nirbhar Bharat Abhiyan package announced in the pandemic, the manufacturing micro and small enterprises (MSEs) continue to suffer in the areas of credit, supply chains and technologies. Mid-corporates or the medium enterprises, constituting...

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IANS 29 December 2021
The Sri Perumbudur facility of technical company Foxconn that assembles Apple iPhones has been put on probation after 250 women employees of the facility were affected by food poisoning in their dormitory.   A statement from Apple on Wednesday said that the company would ensure that...

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Moneylife Digital Team 29 December 2021
In his first statement on the succession plans for the Reliance Industries Ltd (RIL) group, Mukesh Ambani, chairman and managing director (CMD) says, the younger generation is now ready to take on leadership roles and “we should guide them, enable them, encourage them... and sit back and...

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