COMPANIES & SECTORS


Moneylife Digital Team/ IANS 08 December 2023
Coming down heavily on two chartered accounts (CAs), one of them who worked as an engagement partner (EP) for professional misconduct while conducting a statutory audit of Dewan Housing Finance Corporation Ltd (DHFL) for FY17-18, the national financial reporting authority (NFRA) barred them...

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IANS 08 December 2023
Global watchdog group Aviation Working Group (AWG) downgraded India to "negative" from "positive" on Thursday as foreign lessors have not been able to get back their aircraft from Wadia group’s grounded airline Go First, which declared bankruptcy seven months ago.   AWG's downgrade is...

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IANS 07 December 2023
The Central government on Thursday directed sugar mills to not use sugarcane juice for producing ethanol in 2023-2024 as it is worried that the country’s sugar output may fall which would lead to a spike in prices.   Ethanol is supplied to oil marketing companies such as Indian Oil,...

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IANS 07 December 2023
The International Air Transport Association (IATA) on Wednesday announced strengthened profitability projections for airlines in 2023 which will then largely stabilise in 2024.   However, net profitability at the global level is expected to be well below the cost of capital in both...

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IANS 07 December 2023
Network18 Media & Investments (Network18) and TV18 Broadcast Ltd (TV18) on Wednesday announced a scheme of arrangement in terms of which TV18 and e-Eighteen.com Ltd (E18 which owns and operates moneycontrol website and app) will merge with Network18.   The proposed scheme will...

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IANS 06 December 2023
State Bank of India has stated in a regulatory filing that it plans to acquire an additional 20% stake in SBI Pension Funds for Rs229.52 crore.   SBI already owns a 60% stake in SBI Pension Funds and the 20% that it will acquire from SBI Capital Markets, will take the bank's stake in...

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IANS 06 December 2023
Home-grown digital equated monthly instalment (EMI) financing platform ZestMoney, backed by Goldman Sachs, is shutting down operations after several unsuccessful attempts to find a buyer, media reported on Wednesday.   ZestMoney was valued at US$445mn (million) and raised over...

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Moneylife Digital Team 04 December 2023
The Board of Control for Cricket in India (BCCI) has filed a plea before the Bengaluru bench of the National Company Law Tribunal (NCLT) against Think & Learn Pvt Ltd (Byju's) to recover its dues worth Rs158 crore. The petition is filed under Section 9 of the Insolvency & Bankruptcy Code...

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Moneylife Digital Team 04 December 2023
Mumbai-based IT services provider Softcell Technologies Global Pvt Ltd (Softcell) has partnered with Binalyze, the creator of AIR, the world's fastest and most comprehensive Digital Forensics and Incident Response (DFIR) platform to provide digital forensics and incident response solutions in...

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IANS 04 December 2023
The loans Elon Musk took out to buy Twitter (now called X) was about $13 billion and the social media company has to pay about $1.2 billion in interest payments every year.   As big advertisers quit the platform and X cannot pay the interest on its loans or pay employees, then it...

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It's been 55 years since Virginia Slims declared, “You Have Come a Long Way Baby”, to entice women to smoke. This week, one wonders where we stand in the fight for gender equality. On the one hand, India can boast of two women presidents, a de facto and one de jure prime minister, a...

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On 15 October 2023, Tata Consultancy Services Ltd (TCS) intimated to the stock exchanges about the closure of the investigation undertaken by the company, with regard to the allegations that emerged in June 2023 about a scandal in the resources management function (RMG).   When the...

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An announcement on 27 November 2023 by Carborundum Universal Ltd, a constituent of the Murugappa group, most likely signals the finale to the family strife which saw two of the women members of the family seek an equal right to occupy the position of directors that the male family members are...

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Moneylife Digital Team 01 December 2023
While maintaining that they are alert to ensure that the marital disputes between the two promoter directors do not affect the company, independent directors (IDs) of Raymond Ltd decided to retain senior counsel Berjis Desai to advise them. "...neither any law nor any corporate governance...

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IANS 01 December 2023
The Whirlpool Corporation on Thursday announced its intention to enter into one or more transactions to sell up to 24 per cent of its ownership interest in Whirlpool of India Limited (Whirlpool India) in 2024.   Whirlpool currently maintains a 75 per cent ownership interest in...

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IANS 01 December 2023
The Board of Directors of UltraTech Cement has approved a Composite Scheme of Arrangement between Kesoram, UltraTech and their respective shareholders and creditors.   The decision was taken after considering the recommendation and report of the Audit Committee and the Committee of...

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Paul Kiel (ProPublica) 01 December 2023
This story was originally published by ProPublica.   The giant consulting firm proposed that Microsoft transfer billions in profits to a small factory in Puerto Rico. The step initially saved the software company billions — then led to an IRS audit and a bill for US$28.9bn (billion)...

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IANS 30 November 2023
Sam Altman has officially returned to OpenAI as CEO after an intense drama earlier this month, with Microsoft getting a non-voting observer seat on the company’s board.   OpenAI’s new board consists of chair Bret Taylor, Larry Summers, and Adam D’Angelo, the only remaining holdout...

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IANS 29 November 2023
The fate of the planned merger between Sony Group Corporation’s India unit and Zee Entertainment Enterprises Ltd may be known as early as next week, according to people familiar with the matter, as the companies face a looming deadline to resolve their standoff or scuttle a long-awaited deal...

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IANS 29 November 2023
Digital payments platform company Alipay, owned by Ant group, is reportedly selling a 3.44% stake in online food delivery platform Zomato and is expected to raise up to $395 million via a block deal.   The shares translate to up to 296.1mn (million) shares, according to a term sheet...

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