COMPANIES & SECTORS


Moneylife Digital Team 16 August 2023
After the en masse resignation of five of its independent directors (IDs) in May, Balaji Amines Ltd (BAL) says its first quarter results for the financial year (FY)23-24 are delayed due to the non-availability of its management.    In a regulatory filing, the specialty chemicals-maker...

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Moneylife Digital Team 16 August 2023
Vande Bharat trains will increasingly have indigenous components, with the Union government looking at a new production-linked incentive (PLI) scheme for train parts. In a bid to attract foreign manufacturing firms and lessen import reliance, the government is set to roll out a PLI scheme for...

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Moneylife Digital Team 14 August 2023
Adani Ports and Special Economic Zone reported on Saturday (12 August 2023) that its statutory auditor, Deloitte Haskins & Sells LLP (Deloitte), had tendered their resignation, which was accepted on the same day by the board. The company has appointed MSKA & Associates (an independent member...

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Moneylife Digital Team 11 August 2023
Expressing anguish over naming interim resolution professional (IRP) Jitendra Kothari in the first information report (FIR) filed in the veteran art director Nitin Chandrakant Desai suicide case, several insolvency professionals (IP) urged prime minister Narendra Modi, the secretary of the...

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IANS 10 August 2023
Several top venture capital firms like Temasek, Sino Global, and Softbank have been named as defendants in a class-action lawsuit filed by crypto investors in the US for their roles in the collapse of crypto exchange FTX.   The lawsuit, filed in the US District Court for the Northern...

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IANS 10 August 2023
IPO-bound Ola Electric posted a net loss of Rs 784.1 crore in the financial year FY22, a four times jump from Rs 199.2 crore in FY21.   The company finally published its financial results for fiscal year 2021-2022, registering Rs 373 crore in operating revenue during FY22, as compared...

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Moneylife Digital Team 09 August 2023
Gautam Adani-led Adani Enterprises Ltd is exploring selling its stake in Adani Wilmar Ltd, its consumer-staple joint venture with Wilmar International Ltd, a report from Bloomberg News says, citing people familiar with the matter. Adani Wilmar shares fell nearly 5% in the morning trade...

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IANS 09 August 2023
Flexible workspace-rovider WeWork, once valued at US$47bn (billion), is now struggling to survive in a post-pandemic world, saying that “substantial doubt exists about the company’s ability to continue as a going concern.”   The company, which reported a net loss of US$397mn (million)...

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IANS 09 August 2023
The Delhi High Court on Wednesday issued notice on Kal Airway's and its promoter Kalanithi Maran's application seeking 50% of the daily revenue collection of low-cost airline SpiceJet Ltd to be paid to them on a weekly basis.   As justice Yogesh Khanna directed the airline and...

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IANS 07 August 2023
Executive vice-president of Infosys, Richard Lobo has resigned from the company, marking the second high-profle departure in a week.    Mr Lobo previously headed the human resources (HR) wing at the company and later he was moved to the Special Projects team headed by chief executive...

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IANS 07 August 2023
Antfin (Netherlands) has reduced significant shareholding in the leading mobile payments and financial services company Paytm.   As per an exchange filing, Vijay Shekhar Sharma, founder and chief executive officer (CEO) of One 97 Communications Limited (Paytm), and Antfin...

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IANS 07 August 2023
Ola Electric has seen two more top-level exits, as it plans for an initial public offering (IPO) in early 2024, the media reported on Saturday.   According to a report in Money Control, Slokarth Dash who is head of strategy and planning, and Saurabh Sharda, head of growth and...

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IANS 07 August 2023
The Supreme Court on Monday refused to interfere with the order of the Delhi High Court allowing aircraft lessors of cash-strapped Go First airline to inspect their aircraft at least twice a month to carry out maintenance work.   A bench, headed by CJI D.Y. Chandrachud and comprising...

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Moneylife Digital Team 05 August 2023
In a notification issued by the Directorate General of Foreign Trade DGFT on 3 August 2023, the government banned the import of laptops, tablets, all-in-one (AIO) personal computers (PCs), ultra-small form factor computers and servers with 'immediate effect'. However, this resulted in...

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On the 17th March, Dr Jitendra Singh, minister of state (independent charge) for science and technology, proudly declared that India was home to five decacorns: Flipkart, Byju's, Nykaa, Swiggy and Phone Pe. These were part of a global assembly of only 47 start-ups valued at US$10bn (billion)...

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Moneylife Digital Team 04 August 2023
State Bank of India (SBI) has approached the National Company Law Tribunal (NCLT) to admit Mumbai Metro One Pvt Ltd (MMOPL) under the corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC). Mumbai Metro One is a joint venture between Reliance-Anil...

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IANS 04 August 2023
Beauty and fashion ecommerce giant Nykaa's CEO Falguni Nayar will now lead herself lead the marketing department of the company after the exit of six executives, including the marketing head, according to media reports.   Since April, the company has witnessed a series of resignations...

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Sundaram Clayton Ltd (SCL), recently rechristened TVS Holdings Ltd, undertook a major corporate restructuring exercise, discussed in detail in an earlier article, and one of its legs was the issue of 9% cumulative nonconvertible redeemable preference shares (NCRPS) of Rs10 each in the ratio...

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Moneylife Digital Team 01 August 2023
The Delhi High Court (HC) has dismissed a petition challenging a demand notice issued under the Insolvency and Bankruptcy Code (IBC) by New Delhi-based Vineet Saraf, a personal guarantor for a loan of Rs517.90 crore obtained by one FACOR Power Ltd from Rural Electrification Corporation Ltd...

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Moneylife Digital Team 01 August 2023
While granting a permanent injunction in favour of Kent Cables Pvt Ltd, the Delhi High Court (HC) has asked Kent RO Systems Ltd not to use Kent Cables' registered trademark 'KENT' while selling electrical and electronic goods, including but not limited to fans, lighting products, wires, and...

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