COMPANIES & SECTORS


Shares of Tata Consultancy Services Ltd were listed on the bourses on 25 August 2004.   A few of the financial dailies have carried a news item today tracing its stunning street performance over these 20 years.                                         The journey of the share price over the...

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Moneylife Digital Team 06 September 2024
Recent developments at Silverline Technologies Ltd (Silverline), one of stocks manipulated during the scam of 2001 have raised concerns about corporate governance, regulatory filing, delay in reporting the death of the company's founder and chairman and raising Rs98 crore through a preferential...

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Moneylife Digital Team 06 September 2024
The Mumbai bench of the National Company Law Tribunal (NCLT) removed Darwin Platform Infrastructure Ltd, the successful resolution applicant (SRA) of Lavasa Corporation Ltd (corporate debtor-CD),  from the corporate insolvency resolution process (CIRP) for failing to implement the resolution...

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Moneylife Digital Team 05 September 2024
Raising the alarm over rising inventory levels at auto dealers across the country, the Federation of Automobile Dealers Associations (FADA) says the inventory levels have reached alarming levels, with stock days now stretching to 70-75 days and inventory totalling 780,000 vehicles, valued at an...

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Moneylife Digital Team 04 September 2024
Pankaj Srivastava, the interim resolution professional (IRP) of Think & Learn Pvt Ltd or BYJU's, has unlawfully removed GLAS Trust Company LLC, which serves as administrative agent and collateral agent under the US$1.4bn (billion) term loans, from the committee of creditors (CoC), alleges the...

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Moneylife Digital Team 02 September 2024
The national company law tribunal (NCLT) has approved the merger of Reliance Industries-owned Viacom 18 Media, the entity managing the group's media and entertainment assets, with Star India. This significant decision follows the proposal to transfer and vest the Media Operations Undertaking...

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Moneylife Digital Team 30 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs55 lakh on promoter, directors and chief financial officer (CFO) of SKIL Infrastructure Ltd. Those slapped with penalty include: Nikhil Gandhi, promoter, chairman and whole-time director; Bhavesh Gandhi,...

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Moneylife Digital Team 29 August 2024
Mukesh Ambani, chairman of Reliance Industries Ltd (RIL), presented key initiatives to enhance the company's digital and energy sectors during RIL's annual general meeting (AGM). The main highlight of Mr Ambani's speech was the issuance of a 1:1 bonus share, which the RIL board will consider...

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Moneylife Digital Team 29 August 2024
Market regulator Securities and Exchange Board of India (SEBI) has debarred 14 entities, including promoter-directors of Rana Sugars Ltd and other related entities, from the markets for two years and slapped a Rs63 crore fine on them on charges of diversion of funds.   SEBI also restrained...

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Moneylife Digital Team 27 August 2024
Zee Entertainment Enterprises Ltd (ZEE) has reached a comprehensive settlement with Culver Max Entertainment Pvt Ltd (CMEPL), operating as Sony Pictures Networks India (SPNI), and its affiliate Bangla Entertainment Pvt Ltd (BEPL). This non-cash agreement effectively resolves all disputes...

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Moneylife Digital Team 27 August 2024
Hindustan Unilever Ltd (HUL) received a demand notice for Rs962.75 crore, including interest of Rs323.33 crore from the income-tax (I-T) department. The demand notice has been sent for not deducting tax deducted at source (TDS) while making a payment of Rs3,045 crore for buying intellectual...

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Moneylife Digital Team 27 August 2024
One97 Communications Ltd, the owner of Paytm brand, says it had already made disclosures about the notice issued by market regulator Securities and Exchange Board of India (SEBI) on employee stock options (ESOPs) given to Vijay Shekhar Sharma, the company's managing director and chief executive...

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Sahyaja MS (Bar  and   Bench) 26 August 2024
The Bombay High Court on Monday granted an interim stay on a July 16 order of a Pune court which had dismissed a trademark infringement suit filed by fast food giant Burger King against a local burger joint with the same name (Burger King Corporation v. Anahita Irani and Another).   A Bench...

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Moneylife Digital Team 23 August 2024
Coming down heavily on Reliance Home Finance Ltd (RHFL), Anil D Ambani, the chairperson of Anil Dhirubhai Ambani (ADA) group, several key managerial personnel (KMPs) and ADA group companies, market regulator Securities and Exchange Board of India (SEBI) has slapped a penalty of Rs624.06 crore...

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Moneylife Digital Team 23 August 2024
The National Financial Reporting Authority (NFRA) has intensified its crackdown on auditing malpractices related to Coffee Day Enterprises Ltd (CDEL) and its subsidiaries. In its latest action, NFRA has imposed a record-breaking penalty of Rs10 crore on KPMG affiliate M/s BSR & Associates LLP...

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Moneylife Digital Team 19 August 2024
In a modern-day David vs Goliath fight, a Pune-based restaurant won a case against US-based Burger King Corporation after a long battle of 13 years. Burger King Corporation had filed the suit seeking a permanent injunction from using the name and Rs20 lakh in damages from Anahita and Shapoor...

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This should rank as the foremost financial fraud in free India!   It required no circumlocution of the globe, to traverse Bermuda and like destinations. At best, it happened within a single PIN (postal index number) code!    It was a company not promoted by any entrepreneur with a fake...

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Debayan Roy (Bar  and   Bench) 14 August 2024
The Supreme Court on Wednesday stayed a recent judgment delivered by the National Company Law Appellate Tribunal (NCLAT) closing insolvency proceedings initiated against ed-tech firm Byju's (Glas Trust Company LLC v. Byju Raveendran and ors).   A Bench of Chief Justice of India (CJI) DY...

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Anadi Tewari (Bar  and   Bench) 13 August 2024
In a big relief to Patanjali Ayurved and its founders Baba Ramdev and Acharya Balkrishna, the Supreme Court dropped the contempt of court charges against them.   Ramdev and Acharya had earlier faced strictures from the top court for the company's misleading advertisements against...

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Limca book of records has no specific entry for the highest tax demands! Else, a Rs32,000 crore (US$4bn) provisional tax demand eminently qualifies to top the list!   There is no intention to analyse the merits of the issue giving rise to this unprecedented sum as a potential tax demand,...

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