COMPANIES & SECTORS


Moneylife Digital Team 05 July 2024
Bharti Airtel Ltd (Airtel) has denied a data breach in its systems that allegedly led to a hacker publishing details of 375mn (million) subscribers of Airtel for sale on the dark web.   In a statement on X, Airtel says, "There has been a report alleging that Airtel customer data has been...

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Moneylife Digital Team 05 July 2024
Securities and Exchange Board of India (SEBI) has introduced significant changes to streamline the operations of credit rating agencies (CRAs) and ensure uniformity. These changes are part of the updated chapter III of the master circular for credit rating agencies, initially issued on 16 May...

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Moneylife Digital Team 05 July 2024
While upholding an order passed by the national company law tribunal (NCLT) for a resolution plan (RP) for corporate debtor DS Kulkarni Developers (DSK Developers) Ltd, the national company law appellate tribunal (NCLAT) deleted some clauses from the RP that were contrary to the law.   In an...

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Moneylife Digital Team 04 July 2024
The Delhi High Court (HC) has awarded Rs217 crore in lost profits damages to Communication Components Antenna Inc (CCAI) against Mobi Antenna Technologies (MAT) in a patent infringement case for an invention titled 'asymmetrical beams for spectrum efficiency'.   In 2010, CCAI filed the suit...

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Moneylife Digital Team 03 July 2024
Koo, the social media start-up backed by Tiger Global, Accel, is shutting down. Koo app's promoters are in talks with Dailyhunt for a sale, but Dailyhunt is not ready for the buyout, saying its priorities have changed. In a post on LinkedIn, Aprameya Radhakrishna and Mayank Bidawatka, the...

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Moneylife Digital Team 03 July 2024
Indiabulls Housing Finance Ltd has changed its name to Sammaan Capital Ltd after receiving a certificate of incorporation from the registrar of companies (RoC) and a new certificate of registration from Reserve Bank of India (RBI).   In a statement, the company says, "'Sammaan' means...

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Moneylife Digital Team 02 July 2024
Refuting allegations made by US-based short-seller Hindenburg Research over K-India Opportunities Fund Ltd (KIOF), Kotak Mahindra International Ltd (KMIL) and KIOF stated that Hindenburg has never been a client of the firm nor has it ever been an investor in the Fund.    In a statement, a...

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Moneylife Digital Team 02 July 2024
Market regulator Securities and Exchange Board of India (SEBI) has disposed proceedings initiated against Sanjay Chandra and Ajay Chandra, former promoters of Unitech Ltd, due to a lack of detail or evidence on record concerning fund transactions from Unitech to the company subsidiaries. SEBI...

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Solar panels are getting cheaper year after year, mainly due to Chinese manufacturers flooding the market.    This leads people to think: Why not build more and more solar power plants and produce cheap electricity in abundance?    For example, the Prime Minister (PM) Surya Ghar Muft Bijli...

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Aman Singh  and   Udisha Srivastav (IndiaSpend) 28 June 2024
Savita (name changed on request) was shocked to discover that her Urban Company ID had been blocked in February 2023 because she did not meet the monthly target of 40 clients. “My mother-in-law passed away and I took a break of one month from work. I was left without any means of income,” the...

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Moneylife Digital Team 27 June 2024
Salil Parekh, managing director and chief executive officer (MD&CEO) of Infosys has paid Rs25 lakh to settle an insider trading case with market regulator Securities and Exchange Board of India (SEBI). In its investigation, SEBI found that information on the strategic partnership between...

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Moneylife Digital Team 27 June 2024
As expected by telecom experts, Reliance Jio Infocomm Ltd decided to increase the tariff on all its existing plans by 12% to 25%. The lowest tariff plan with 2GB data and a validity of 28 days will now cost Rs189 from Rs155 earlier. Jio says all-new, increased tariff plans will come into force...

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Moneylife Digital Team 26 June 2024
Holding two chartered accounts (CAs) responsible for professional misconduct and non-maintenance of proper audit documentation for 10 branches of Dewan Housing Finance Corporation Ltd (DHFL), which is embroiled in the Rs34,000 crore scam, the national financial reporting authority (NFRA)...

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Moneylife Digital Team 22 June 2024
A Swiss court has sentenced four members of the UK's richest Hinduja family to jail for six months to four years for exploiting domestic workers at a luxury villa in Geneva. While Prakash Hinduja, the chairman of the Hinduja group in Europe, and his wife Kamal are sentenced to four years and...

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After the one-day slump caused by poll results, India’s stock markets have rebounded and, thankfully, remained steady—albeit on a very high plateau. This means that around Rs20,000 crore per month will continue to flow into mutual funds (MFs) which, in turn, needs to find its way into stocks of...

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Moneylife Digital Team 21 June 2024
Chowgule Steamships Ltd (CSL), the flagship company of the Chowgule family, has been reporting a Guernsey-registered Quail Investments Ltd as its promoter group entity with about a 6.23% stake in the company. The problem is Quail Investments was incorporated in 1973 and dissolved in 1974 and...

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Moneylife Digital Team 21 June 2024
Several bodies representing media and industry have filed impleadment applications before the Supreme Court seeking clarity on the self-declaration certificate (SDC) mandate for new advertising. Following an order from the Supreme Court, all advertisers and advertising agencies are mandated...

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Moneylife Digital Team 20 June 2024
In the fast-paced world of start-ups, success stories often intertwine with tales of caution and collapse. ReshaMandi, a Bengaluru-based venture once heralded for its innovative approach to the business-to-business (B2B) fashion and textiles supply chain, is now embroiled in controversy and...

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Moneylife Digital Team 20 June 2024
Market regulator Securities and Exchange Board of India (SEBI) imposed a total penalty of Rs3.26 crore on seven entities, including Reliance Infrastructure Ltd (RInfra), Reliance Power Ltd (RPower) and Incredible Realcon Pvt Ltd, for non-submission of no default statement (NDS) to credit rating...

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Moneylife Digital Team 19 June 2024
The competition commission of India (CCI) has approved the proposed combination involving the realignment of interests, legal ownership, and management of various entities within the 127-year-old Godrej group.   The proposed combination relates to the realignment of interests, legal...

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