COMPANIES & SECTORS


Moneylife Digital Team 06 February 2025
InterGlobe Aviation Ltd (IndiGo) says it has fined Rs115.86 crore by goods and service tax (GST) authorities from Delhi and Chennai.    In a regulator filing, IndiGo says the penalty of Rs113.02 crore has been levied by the additional commissioner of central GST from Delhi on services...

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Moneylife Digital Team 06 February 2025
Food aggregator services provider Zomato Ltd decided to change its corporate name to Eternal Ltd. It, however, will continue to use Zomato name for its food aggregator service.   In a regulator filing, the company says, "We would like to hereby inform that the board of directors of the...

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Ayesha Arvind (Bar  and   Bench) 05 February 2025
Fugitive businessman Vijay Mallya has moved the Karnataka High Court challenging the debt recovery proceedings against the now defunct Kingfisher Airlines.   Mallya has claimed that while Kingfisher Airlines owed around Rs6,200 crore in debt, the authorities had recovered the "principal debt...

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Moneylife Digital Team 05 February 2025
Market regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 lakh on eight entities, including DB Realty Ltd (DBRL) (now known as Valor Estate) (noticee 1), the company promoters and key officials, following significant violations of financial disclosure...

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Moneylife Digital Team 04 February 2025
The directorate of enforcement (ED) has conducted search operations at three locations in Chennai as part of its ongoing investigation into RKM Powergen Pvt Ltd (RKMPPL) under the Prevention of Money Laundering Act (PMLA), 2002. The searches targeted premises linked to Andal Arumugam, S...

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Moneylife Digital Team 04 February 2025
Market regulator Securities and Exchange Board of India (SEBI) proposed mandating digital assurances of financial statements of top-100 listed companies to create greater transparency and trust in the financial disclosures made by the listed entities. Reporting on digital assurance will be...

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Moneylife Digital Team 03 February 2025
Holding chartered accountant (CA) Neeraj Bansal guilty of professional misconduct in the audit of Religare Finvest Ltd (RFL) for FY17-18, the national financial reporting authority (NFRA) has imposed a penalty of Rs5 lakh on the CA. CA Bansal, who was the engagement partner (EP), is also barred...

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Moneylife Digital Team 01 February 2025
A report by Boston Consulting Group (BCG) highlights the opportunities for India’s pharmaceuticals sector, driven by the China+1 strategy. As companies diversify from China, India is attracting investments due to its cost-effective pharma services—20% cheaper than China’s. The country is...

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Earlier this month, Tata Steel Ltd informed the stock exchanges of moving a curative petition against the nine-judge constitutional bench decision of the Supreme Court in July 2024 holding that the state governments have power to levy tax on mineral rights.    Earlier in September 2024, the...

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Bar  and   Bench 31 January 2025
The Competition Commission of India (CCI) recently imposed a penalty of Rs40 lakh on Goldman Sachs (India) Alternative Investment Management Private Limited (GS AIMPL) for failing to notify its investment in Biocon Biologics Limited under the Competition Act, 2002.   “The Commission is of the...

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SN Thyagarajan (Bar  and   Bench) 30 January 2025
The Delhi High Court on Thursday refused to stay the Annual General Meeting (AGM) of Religare Enterprises Ltd (REL) scheduled for February 7, amid controversy over a proposed takeover of REL by the Burman family, which owns Dabur (Sapna Govind Rao Vs Union of India).   A minority shareholder...

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Moneylife Digital Team 30 January 2025
Market Regulator Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs90 lakh on Urja Global Ltd (noticee 1) and 15 of its related entities, including the company's top executives like the managing director (MD), chief executive officer (CEO), whole-time directors (WTDs) and...

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SN Thyagarajan (Bar  and   Bench) 29 January 2025
The National Company Law Tribunal (NCLT) on Wednesday called for the initiation of disciplinary proceedings against Pankaj Srivastava, the resolution professional (RP) of debt-ridded ed-tech company Byju's.   A Bench comprising judicial member K Biswal and technical member Ravichandran...

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Moneylife Digital Team 29 January 2025
The income-tax (I-T) department on Tuesday conducted search operations at the office of IIFL group and premises linked to 360 ONE WAM Ltd, formerly known as IIFL Wealth and Asset Management, and its founder, managing director and chief executive officer (MD&CEO), Karan Bhagat, say media...

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Moneylife Digital Team 29 January 2025
Market regulator Securities and Exchange Board of India (SEBI) has rejected a competing open offer by the US-based entity Danny Gaekwad Developments & Investments for buying a 26% stake in Religare Enterprises Ltd (REL) as the offer did not meet necessary regulations.   In a regulatory...

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Ratna Singh (Bar  and   Bench) 28 January 2025
A commercial court in Gurugram recently awarded Microsoft Rs55 lakh in damages after a company, Retnec Solutions Pvt Ltd was found guilty of trademark infringement and running fraudulent call-centre operations using Microsoft's trademarks, including 'HOTMAIL', 'OUTLOOK', and 'OFFICE...

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Sahyaja MS (Bar  and   Bench) 28 January 2025
The Bombay High Court on Monday suggested that the Lodha brothers, who are embroiled in a long-standing trademark dispute, consider mediation to resolve the matter.   Justice Arif Doctor said that since the issue stems from a family dispute, it may be beneficial for the two brothers, Abhishek...

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Moneylife Digital Team 27 January 2025
Zoho Corporation's founder Sridhar Vembu has decided to step down as cheif executive officer (CEO) to focus on research & development (R&D) activites as chief scientist.    In a post on X, Mr Vembu says, "In view of the various challenges and opportunities facing us, including recent major...

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Moneylife Digital Team 27 January 2025
PC Jeweller Ltd paid Rs7.23 crore to Securities and Exchange Board of India (SEBI) to settle a case related to allegations of non-disclosure and delayed disclosure of critical information to loan defaults.     The jewellery retailer opted to settle the case without admitting or denying SEBI...

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Moneylife Digital Team 24 January 2025
The family feud between two brothers, Abhishek and Abhinandan Lodha, has reached the court over using the Lodha trademark. At the same time, Abhinandan, the younger brother of Abhishek Lodha, has accused Macrotech Developers Ltd of issuing media statement with a false claim of giving him...

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