COMPANIES & SECTORS


Every political formation in India pays lip-service to the critical role of micro, small and medium enterprises (MSMEs). Contributing nearly 30% to India’s GDP and employing over 1.24mn (million) people, MSMEs are the backbone of the nation’s economy. An MSME ministry was formed in 2007 under...

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Just on the cusp of the long festival weekend, the board of a US$2.5bn (billion) company met at a time of the day when the directors may have an excuse for not having brushed their teeth.   And before the coffee served could be gulped down, the meeting concluded. What they decided was to sell...

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Moneylife Digital Team 15 November 2024
Royalty payments made by listed companies to their related parties (RPs) more than doubled in magnitude over the past decade, with 233 companies paying Rs10,779 crore in FY22-23 from Rs4,955 crore in FY13-14, according to a study. The study conducted by the Securities and Exchange Board of...

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Moneylife Digital Team 15 November 2024
Deals   Varun Beverages Ltd (VBL) is moving to acquire full ownership of its PepsiCo bottling operations in Tanzania and Ghana, alongside increasing its stake in packaging subsidiary—Lunarmech. In Tanzania, VBL aims to purchase 100% stake in SBC Beverages Tanzania Ltd (SBCT), valued at...

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Moneylife Digital Team 13 November 2024
While creditor realisation during the second quarter (Q2) of FY24-25 crossed Rs3.5 lakh crore through successful resolutions under the Insolvency and Bankruptcy Code (IBC), lenders continue to face steep haircuts or reductions in loan amounts of nearly 72% in Q2FY24-25, says a research note...

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Moneylife Digital Team 13 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has asked two entities to pay Rs52 crore in penalties for failing to clear fines imposed for illegally diverting funds from Reliance Home Finance Ltd (RHFL).   In two separate notices, SEBI asked Mohanbir Hi-Tech Pvt Ltd and

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Moneylife Digital Team 13 November 2024
Market regulator Securities and Exchange Board of India (SEBI) slapped fines of Rs12 lakh on seven entities, including LCC Infotech Ltd and its promoters, for misrepresenting financial statements of the Company.   Apart from LCC Infotech, those penalised by SEBI include: Kirti Lakhotia,...

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Moneylife Digital Team 12 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has ordered the attachment of bank and demat accounts of Venugopal Dhoot and Videocon group's promoter entity, Electroparts (India) Pvt Ltd, to recover dues of around Rs69.9 lakh.    Earlier on 30 September 2024, SEBI sent a...

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Sahyaja MS (Bar  and   Bench) 11 November 2024
The Bombay High Court on Monday granted medical bail to Jet Airways founder Naresh Goyal in connection with a money laundering case filed by the Enforcement Directorate (ED).   Single-judge Justice NJ Jamadar had earlier granted interim medical bail to Goyal to undergo cancer treatment. The...

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Moneylife Digital Team 11 November 2024
Market regulator Securities and Exchange Board of India (SEBI) has cleared Piramal Pharma Ltd (PPL) of allegations concerning violations of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations. SEBI investigated Piramal Pharma and its predecessor, Piramal Enterprises Ltd...

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Moneylife Digital Team 09 November 2024
As per the resolution plan approved by national company law tribunal (NCLT) Oberoi Realty Ltd has paid Rs230 crore to creditors of Nirmal Lifestyle Realty Pvt Ltd as a full and final settlement and took over the bankrupt company.   On 9 August 2024, the NCLT Mumbai bench approved the...

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Moneylife Digital Team 08 November 2024
State-run Solar Energy Corporation of India Ltd (SECI) has barred Reliance Power Ltd and Reliance NU BESS Ltd for three years for submitting fake documents, including a bank guarantee from a foreign bank. On Friday, Reliance Power tumbled 5% to Rs41.74 on BSE. The issue is related to the...

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Moneylife Digital Team 08 November 2024
Market regulator Securities & Exchange Board of India (SEBI) has ordered the suspension with immediate effect of Aravind Maiya, chief executive officer (CEO) of Embassy REIT's (real estate investment trust's) manager Embassy Office Parks Management Services Pvt Ltd, and his appointment as an...

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Moneylife Digital Team 08 November 2024
Rupee Hits a New Low The victory of Donald Trump in the US presidential elections pushed the rupee to an all-time low at 84.42 against the US dollar on Thursday (November 7) leading to the Reserve Bank of India (RBI swinging into action. Mr Trump’s policies are expected make the US dollar...

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Debayan Roy (Bar  and   Bench) 07 November 2024
In a judgment of significant import on Indian aviation sector, the Supreme Court on Wednesday ordered the liquidation of defunct airline Jet Airways as per the Insolvency and Bankruptcy Code (IBC) (State Bank of India and ors v Consortium of Mr Murali Lal Jalan and Mr Florian Fritsch and...

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Moneylife Digital Team 06 November 2024
The crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS) group discharged a debt of Rs38,082 crore to creditors on 30 September 2024. Due to various measures taken by the new board, IL&FS says its overall debt resolution across the group is estimated to reach 61.39% or Rs61,000 crore of...

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Moneylife Digital Team 06 November 2024
Domestic vehicle retail sales in October witnessed a 32% year-on-year (y-o-y) rise to 2.83mn (million) units with all segments, including two-wheelers (2W) and passenger vehicles (PVs) registering strong growth, shows data shared by the Federation of Automobile Dealers' Association (FADA)....

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Moneylife Digital Team 05 November 2024
US-based short-seller Hindenburg Research alleged that PACS group, a US$6.7bn (billion) operator of skilled nursing facilities (SNFs) that serves 29,000 patients daily, has its success built on a systematic abuse of taxpayer-funded healthcare programmes, creating the appearance of growth and...

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Moneylife Digital Team 04 November 2024
United Phosphorus Ltd (UPL) and its chairman Jaidev (Jai) Rajnikant (JR) Shroff paid Rs20.22 crore to settle a case related to fraudulent and unfair trade practices with markets regulator Securities & Exchange Board of India (SEBI). The market regulator investigated UPL and Mr Shroff to...

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SN Thyagarajan (Bar  and   Bench) 04 November 2024
Aditya Birla Finance and GLAS Trust Company on Monday filed applications before the National Company Law Tribunal (NCLT), Bengaluru to replace the Resolution Professional (RP) of Byju's parent company Think and Learn.   A coram of Judicial Member K Biswal and Technical Member Manoj Kumar...

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