COMPANIES & SECTORS


Court proceedings on 2nd April indicate that the Supreme Court (SC) may finally end Patanjali Ayurved’s (Patanjali’s) 10-year spree of misleading advertisements which have made unverified claims about its products while disparaging rivals in every business sector the home-grown multinational...

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Moneylife Digital Team/IANS 05 April 2024
Private carrier Vistara, a joint venture of Tata Sons Pvt Ltd and Singapore Airlines Ltd (SIA), says that in light of crew unavailability and other factors, the airline has experienced a notable uptick in cancellations and delays. However, according to a report, Vistara pilots sought sick leave...

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Moneylife Digital Team 04 April 2024
While quashing an order passed by the national company Law Appellate Tribunal (NCLAT), the Supreme Court reiterated that the Insolvency and Bankruptcy Code (IBC) does not allow the resolution applicant to unilaterally amend, modify, or withdraw the resolution plan after approval by the...

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In Q4FY23-24, demand for FMCG products faced ongoing challenges, dampening volume growth, Elara Securities said.   Factors such as low farm income and the rise of small regional competitors are adversely affecting larger companies. A delayed winter will likely impact seasonal categories such...

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A day after a massive earthquake rattled Taiwan, a key supplier of chips and displays to original equipment manufacturers (OEMs), industry leaders said on Thursday there will not be any impact on the global supply chain serving mobile phones and other electronics.   Pankaj Mohindroo, chairman...

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Moneylife Digital Team 03 April 2024
Coming down heavily on the Maharashtra government, BrihanMumbai Municipal Corporation (BMC) and Glider Buildcon Realtors Pvt Ltd for putting profit over the livelihood of erstwhile mill workers, the Bombay High Court (HC) quashed as 'illegal' the 2019 decision of the state government to do away...

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The High Court of Calcutta has admitted a writ petition filed by Tata Steel in the matter of waiver of loans availed by it from the Steel Development Fund.   In accordance with the directions of the High Court of Calcutta vide its order dated 3 August 2022, read with order dated 3...

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The competition commission of India (CCI) has approved the acquisition of compulsorily convertible preference shares in Northern Arc Capital Limited by the World Bank’s International Finance Corporation (IFC).   The proposed combination involves the acquisition of fully paid...

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Moneylife Digital Team 02 April 2024
Coming down heavily on Patanjali Ayurved Ltd, its managing director (MD) Acharya Balkrishna and founder Baba Ramdev, the Supreme Court termed their apology as a 'mere lip service'. The apex court also says Patanjali prima facie has committed perjury since documents, which were created later,...

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The board of directors of Aditya Birla Fashion and Retail Ltd (ABFRL) on Monday authorised the management of the company to evaluate the vertical demerger of the Madura Fashion & Lifestyle business from the ABFRL into a separate listed company.   The proposed demerger will enable the...

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Passenger vehicle discounts are likely to remain elevated in FY25, global brokerage Nomura said.   Domestic PV industry wholesales were at 371K units in March-2024, while retails are likely to be lower at 360K, up 6 per cent y-y. We estimate industry inventory at 300-310K as of March-2024...

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Embattled edtech company Byju’s has once again delayed salaries for thousands of its employees for the second successive month, saying that a few “misguided foreign investors” obtained an interim order in late February which restricted usage of the funds raised through the rights issue.   In...

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Ahead of the auspicious Gudi Padwa, there is good news for the property buyers in Maharashtra as the state government has decided to maintain the status quo in the ready reckoner (RR) rate for fiscal 2024-25.   This means the RR rate, or the standard rate fixed by the state government...

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Last week, the State Bank of India (SBI) disclosed data on the now-defunct electoral bonds in two sets. Purchasing these bonds was voluntary; however, which entrepreneur would willingly part with their hard-earned money for grasping, self-serving politicians? They do so under coercion or...

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On 21st March, media headlines said that M Damodaran, former chairman of the Securities & Exchange Board of India (SEBI) and founder-chairman of Excellence Enablers, an organisation that champions corporate governance, had been hit with damages of Rs206 crore by the International Court of...

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Moneylife Digital Team 29 March 2024
Sameer Jai Hiremath and Pallavi Anish Swadi, the nephew and niece of industrialist Baba Kalyani, have filed a petition seeking their share in the Kalyani Hindu undivided family (HUF) properties, including stakes in various listed and private companies held under the Kalyani group, says a...

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In a breather for embattled ed-tech company Byju's, the national company law tribunal (NCLT) on Thursday refused to stay the extraordinary general meeting (EGM) called by the board of directors to raise the capital via the rights issue.   The tribunal in Bengaluru has given 4th April...

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Moneylife Digital Team 28 March 2024
The Securities and Exchange Board of India (SEBI) has levied a penalty of Rs15 lakh on Family Care Hospitals Ltd (FCHL) for failing to comply with the requirements of the Listing Obligations and Disclosure Requirements (LODR) Regulations and circulars, including non-disclosure of debt and...

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The government has directed the NCCF and the NAFED to start buying 5 lakh tonnes of onion for the country’s buffer requirement directly from farmers as the Rabi-2024 harvest has begun arriving in the market, the food ministry said on Tuesday.   Government procurement agencies NAFED...

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A global study of 845 unicorns and more than 2,000 tech leaders has revealed that most companies with a valuation of US$1bn (billion) and above have 'underdog' founders and female entrepreneurs are on the rise.   The study, titled "Unicorn Founder DNA Report" by Defiance Capital found...

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