COMPANIES & SECTORS


Moneylife Digital Team 07 April 2022
After showing substantial losses for two financial years, Mother Dairy Fruit and Vegetables Ltd (Mother Dairy or MDFVPL), a subsidiary of the National Dairy Development Board (NDDB), has suddenly reported a huge profit for FY20-21. Similarly, NDDB Dairy Services (NDS), another unit of NDDB,...

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The government on Thursday said that due to the reverse migration of labourers, including construction workers, to their native places during the pandemic and break in the supply chains of construction material, construction activities of real estate projects across the country were adversely...

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Moneylife Digital Team 06 April 2022
Three funds managed by Invesco's developing markets investment team, including Invesco Developing Markets Fund, have decided to sell up to 7.8% of their stake in Zee Entertainment Enterprises Ltd (Zee). While reducing its stake to 11%, Invesco reaffirmed its support for the merger of Zee with...

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A bench headed by Chief Justice N.V. Ramana on Wednesday said it hopes it does not have to hear this case again, while noting that Amazon and Future Retail Limited (FRL) will move the arbitration tribunal to resume arbitration proceedings.   The top court added that the tribunal will...

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The Competition Commission of India (CCI) on Monday ordered a thorough investigation into the conduct of online food delivery platforms Zomato and Swiggy which are allegedly involved in delayed payment cycle and exorbitant commissions.   Following a complaint from the National...

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Amazon and Future Retail Ltd (FRL) on Monday informed the Supreme Court that they wish to appear before the Singapore International Arbitration Centre in connection with the pending adjudication of arbitration proceedings before it.   A bench headed by Chief Justice N.V. Ramana and...

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Moneylife Digital Team 04 April 2022
In March, fleet utilisation trended at the level seen the month before, with improving utilisation of cement and mining products, largely coal, negated by lower utilisation levels of loose goods and textiles. For bulk commodities such as steel, auto-carriers and petroleum tankers, utilisation...

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Moneylife Digital Team 01 April 2022
CRISIL Ratings' credit ratio of upgrades to downgrades increased to 5.04 times in the second half (H2) of fiscal 2022, compared with 2.96 times in the first half (H1), underscoring continuing improvement in the performance of India Inc. Despite pressures, the rating agency says India Inc.'s...

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Kalanithi Maran and KAL Airways on Thursday reiterated before the Supreme Court that SpiceJet's offer of Rs 300 crore towards full and final settlement of share transfer dispute was not acceptable, noting that as per the arbitral award, it has to pay Rs 995 crore.   Senior advocate...

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Moneylife Digital Team 31 March 2022
Supply disruptions caused by the Russia-Ukraine conflict could lead to a supply shortfall of at least 400,000 tonnes-600,000 tonnes oil for India next fiscal, a CRISIL estimate shows. This, in turn, will have a bearing on the production planning of domestic edible oil processors. At the same...

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Moneylife Digital Team 29 March 2022
The term of Uday Kotak, who was appointed as chairman of crisis-hit Infrastructure Leasing and Finance Ltd (IL&FS) is ending this week and the Union government has appointed CS Rajan, who is managing director (MD), as the new chairman for six months. Last year in September, the Union...

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The downfall of ABG Shipyard, Indian market leader and a blue-chip company till 2013 that dominated the ship building industry, is a classic case of Indian companies caught in the global turbulence.   As per the corporate debt restructuring (CDR), executed by the lenders on 29 March...

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The Enforcement Directorate (ED) on Monday said that they have attached assets worth Rs 90.31 crore of Educomp Professional Education Ltd, a group company of Gurugram-based Educomp Group, in connection with a Prevention of Money Laundering case pertaining to loan fraud of Rs 1,955.36...

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Moneylife Digital Team 28 March 2022
Market regulator Securities and Exchange Board of India (SEBI) has asked investors of PACL Ltd (erstwhile Pearls) to submit original registration certificates only after receiving an SMS from the justice (retd) RM Lodha committee. This is applicable only for investors whose claim money is...

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Moneylife Digital Team / IANS 25 March 2022
The National Company Law Tribunal (NCLT) has declared Noida-headquartered realty major Supertech Ltd as insolvent while admitting a plea filed by the Union Bank of India over non-payment of its dues.   The NCLT order is likely to hit over 25,000 home-buyers who have booked their homes...

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Moneylife Digital Team 21 March 2022
While the committee of creditors (CoC) of Sintex Industries Ltd (Sintex) has approved the joint bid of Reliance Industries Ltd (RIL) and Assets Care & Reconstruction Enterprise (ACRE) to acquire the debt-ridden textiles company under the insolvency resolution process (IRP), dozens of...

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The resolution plan of Reliance Industries-Assets Care and Reconstruction Enterprise (RIL-ACRE) consortium to acquire Sintex Industries has been approved by the committee of creditors (CoC), the company said in a regulatory filing to the exchanges on Sunday.   The beleaguered textile...

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Ranganathan V Ranganathan V 17 March 2022
The Romans had, among other religious aspects, fixed 15th March, popularly the ides of March, as a day for settling debts! Lo and behold! Punjab National Bank (PNB), that became a household name after the notorious Nirav Modi and Geetanjali Gems fraud, reported on 15 March 2022 to the stock...

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The Supreme Court on Wednesday suggested arbitration proceedings before the Singapore International Arbitration Centre (SIAC)-governed tribunal may resume, where the American e-commerce giant Amazon could press for the relief.   A bench, headed by Chief Justice NV Ramana and...

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The Income-Tax (I-T) Department has seized around Rs30 crore cash from the premises belonging to realty developer Omaxe Ltd, sources said. The I-T department launched a search operation on Monday morning. Sources close to the development said they identified about 30 lockers that will be...

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