COMPANIES & SECTORS


Despite internal disagreements, the Twitter board is reportedly inching towards finalising the hostile takeover deal worth US$46.5bn (billion) made by Tesla CEO Elon Musk, and an announcement was expected as early as Monday (US time).   The Washington Post reported, citing people...

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In 2018, the Goel brothers had just begun their war 'officially' over the company, Omaxe Limited, followed by Sunil Goel's move to the National Company Law Tribunal alleging financial mismanagement by his elder brother and founder of the company, Rohtas Goel.   However, it was a...

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Moneylife Digital Team 22 April 2022
The Bombay High Court has dismissed a plea filed by Hari Sankaran, former vice chairman, Infrastructure Leasing and Finance Ltd (IL&FS) against his claimed illegal detention without taking any cognisance of the charge-sheet submitted by the Serious Fraud Investigation Office...

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The Supreme Court on Friday upheld the Maharashtra governments order to attach the assets of 63 moons technologies under the Maharashtra Protection of Interest of Depositors (MPID) Act in the Rs 5,600 crore National Spot Exchange Ltd (NSEL) payment default case.   The apex court set...

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Moneylife Digital Team 22 April 2022
Indian auto-loan asset-based securities (ABS) transactions will prove resilient to fuel costs at their current elevated levels. However, the greater the rise in fuel prices, the more of a challenge it will be for commercial vehicle operators to pass it on to their customers, and further large...

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The Supreme Court on Wednesday asked the enforcement directorate (ED) to propose steps to bring back home buyers money, amounting to Rs5,000 crore diverted to tax havens, as revealed in a forensic audit.   At the beginning of the hearing, Additional Solicitor General N. Venkataraman,...

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The global chip shortage, that plagued several industries like automotive and consumer electronics, is set to ease during the second half of the year despite lock-downs in China as demand-supply gaps decrease across most components, a new report has said.   The second half of 2022...

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The Centre's fertiliser subsidy bill is set to touch an all-time high of Rs1.65 lakh crore this fiscal against Rs1.05 lakh crore budgeted, due to an unprecedented rise in the cost of raw materials.   As per Crisil Ratings, in the past two fiscals, it has paid an additional Rs1.2 lakh...

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Moneylife Digital Team 20 April 2022
HDFC Ltd has entered into binding agreements to sell its 10% stake in its subsidiary HDFC Capital Advisors Ltd (HDFC Capital) to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs184 crore. ADIA is also the primary investor in the alternative investment funds...

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Moneylife Digital Team 19 April 2022
Nischal Shetty and Siddharth Menon, co-founders of Indian cryptocurrency exchange WazirX, have shifted their base to Dubai from India, says a report from Business Today quoting multiple sources with the knowledge of the matter.   Sources told the news portal that both Mr Shetty and Mr...

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Moneylife Digital Team 19 April 2022
Notwithstanding sporadic periods of constant retail prices amidst heightened volatility in oil prices, retail prices of petrol and diesel in  India and, consequently, the marketing margins of the oil-marketing companies (OMCs), should remain aligned with the movement in crude oil prices over...

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Moneylife Digital Team 18 April 2022
The enforcement directorate (ED) has attached assets worth Rs757.77 crore belonging to Amway India Enterprises Pvt Ltd, a company accused of using products to masquerade a multi-level marketing (MLM) fraud under the disguise of a direct selling company. In a statement, ED says,...

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Alarmed at the recent fraud allegations at some of its portfolio start-ups like BharatPe, Zilingo and Trell, top investor Sequoia Capital India on Sunday said it will continue to respond strongly when it encounters 'willful misconduct or fraud', and take tough action wherever...

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As Tesla and SpaceX CEO Elon Musk puts pressure on the board of Twitter to let him acquire the micro-blogging platform for US$43bn (billion), its co-founder Jack Dorsey has finally broken the silence, labelling the board as 'consistently the dysfunction of the company'.   Dorsey, who...

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It is becoming increasingly difficult for Indian automakers to control input costs as they are dependent on China and Japan which are facing supply chain woes, resulting in price hikes across vehicle ranges, according to a new report.   Indian automakers are responding to raw material...

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In yet another EV fire incident, an Okinawa autotech dealership burnt down to ashes in Tamil Nadu owing to a reported fire in an e-scooter belonging to the company.   Electric two-wheeler manufacturer Okinawa had recalled 3,215 units of its 'Praise Pro' scooters on April 16, just...

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Moneylife Digital Team 16 April 2022
CARE Ratings Ltd says the justice BN Srikrishna (retd) panel has given a clean chit to its erstwhile managing director (MD) and chief executive officer (CEO) Rajesh Mokashi and former chairman SB Mainak in a case related to influencing ratings. In February 2020, the Securities and Exchange...

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Regional airline Alliance Air has become an independent business unit under the Central government's control.   Alliance Air was an esrtwhile part of Air India prior to the latter's divestment. At present, it is operated as a division under the Air India Asset Holdings Pvt Ltd...

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Moneylife Digital Team 14 April 2022
The world's largest cement-maker Holcim has put up for sale Ambjua Cement Ltd and ACC Ltd, its two listed companies in India and may exit the country, say media reports. Switzerland-based Holcim's unit Holderind Investments Ltd owns a 63.19% stake in Amubja Cement. Holderind Investments also...

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Automaker Maruti Suzuki is currently focused on the CNG segment to fulfil the demand triggered by rising petrol prices as well as heightened concerns over environmental protection.   The automobile major also plans to foray into the EV segment by 2025.   In a conversation with...

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