COMPANIES & SECTORS


Infrastructure Leasing and Financial Services Ltd (IL&FS), Dewan Housing Finance Corporation Ltd (DHFL), Reliance Capital Ltd and YES Bank, though a dozen more can be rightfully tagged to this ‘big-4’, cumulatively caused anywhere between Rs1 lakh crore and Rs1 lakh fifty thousand crore loss to...

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Prashant Jha (Bar  and   Bench) 17 May 2024
A division bench of the Delhi high court (HC) on Friday set aside an order of the single-judge directing Spicejet to refund over Rs270 crore to Sun Group promoter Kalanithi Maran.   A division bench of justice Yashwant Varma and justice Ravinder Dudeja allowed the appeal filed by SpiceJet and...

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Moneylife Digital Team 16 May 2024
Adani Energy Solutions Ltd on Thursday says it has completed the acquisition of Essar Transco Ltd (ETL), which has transmission assets between Mahan in Madhya Pradesh (MP) and Sipat in Chhattisgarh for Rs1,900 crore.    Adani Transmission Step Two Ltd, a wholly-owned subsidiary of Adani...

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Moneylife Digital Team 16 May 2024
The Maharashtra Real Estate Regulatory Authority (MahaRERA) has issued a consultation paper proposing a new framework for quality assurance in real estate projects. While focusing on quality assurance, this initiative aims to move beyond simply addressing defects after they occur by taking...

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Moneylife Digital Team 14 May 2024
The Supreme Court (SC) on Tuesday reserved its verdict in the contempt of court case filed against Patanjali Ayurved Ltd and its owners, Baba Ramdev and Acharya Balkrishna over the company's misleading advertisements. The SC also asked Patanjali if it had stopped selling products whose licences...

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Moneylife Digital Team 14 May 2024
The ministry of finance in Canada has imposed a penalty of over 1.34 lakh Canadian dollars (about Rs82 lakh) on Infosys Ltd for alleged underpayment of employee health tax for the year ended 31 December 2020.   In a regulatory filing, Infosys says it received the order on 9th May from...

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Among the many arrogant quips and replies given by foreign banks immediately following the securities scam of 1992, was: “If you keep your front door unlocked, you are likely to be burgled.” This comment came from a cowboy banker from Citibank. He was justifying how foreign banks had hoodwinked...

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Last year, the Darwin Platform group of companies, owned by 'Prince of Sultanpur' Ajay Harinath Singh, bought Lavasa, the picturesque hill station city in Maharashtra, through the bankruptcy resolution process for just Rs1,814 crore to be paid over eight years. Mr Singh claims that the Darwin...

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Moneylife Digital Team 10 May 2024
The operations of Air India Express slowly started improving on Friday as more cabin crew members are joining back for duty after significant flight disruptions caused by a strike by its cabin crew. On Thursday, after a five-hour meeting between the management and the unions of Air India...

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Moneylife Digital Team 09 May 2024
Air India Express continues to face the issue of flight cancellation due to mass sick leave by its cabin crew members. On Thursday, it has reportedly cancelled over 70 flights. Meanwhile, taking a stern view, the management of the Tata Group-owned airline has issued termination letters to...

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Moneylife Digital Team 08 May 2024
Air India Express has reportedly cancelled more than 80 flights, and scores of flights have been delayed as a section of cabin crew members has reported being sick to protest against the alleged mismanagement at the Tata Group-owned airlines. Taking a note of this, the Union ministry of civil...

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Moneylife Digital Team 07 May 2024
Indian private sector's share in investment declined to its lowest level in four years in FY22-23 as the share of private non-financial corporations in gross fixed capital formation dipped to 36.2% compared with 36.3% in the previous fiscal, says a report.   Quoting the latest National...

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Moneylife Digital Team 07 May 2024
Taking a stern view of non-cooperation by the audit firm and a chartered accountant (CA)-cum-engagement partner (EP) of Brightcom Group Ltd (BGL), the national financial reporting authority (NFRA) imposed a Rs80 lakh penalty while barring both from taking up audit assignments for two years and...

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Moneylife Digital Team 06 May 2024
A new provision in the Income-Tax (I-T) Act in Budget 2023-24 that aimed to secure payments to micro, small and medium enterprises (MSMEs) within 45 days of the supply of goods or services has resulted in a peculiar problem — that of large companies cancelling orders to registered MSMEs and...

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Moneylife Digital Team 03 May 2024
The Gautam Adani-led Adani Enterprises Ltd says it received two show-cause notices (SCNs) from market regulator Securities and Exchange Board of India (SEBI) over alleged non-compliance in related party transactions. However, it says there is no material consequential effect of these...

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Securities and Exchange Board of India (SEBI) has passed an order, termed interim, in the case of Linde India Ltd that may have far-reaching consequences from a corporate governance perspective, not only the company concerned but the corporate sector in general.   The implications of the...

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Tanvi Deshpande (IndiaSpend) 03 May 2024
It is just another summer day in the dimly lit, sweltering powerloom unit belonging to 52-year-old Prabhakar Aluwala in Bhiwandi. Two labourers wearing vests move swiftly from one loom to the next to make the necessary turns to keep the yarn spinning without getting disturbed and ruining the...

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Moneylife Digital Team 03 May 2024
The central bureau of investigation (CBI) has filed a charge-sheet against Alok Kumar Misra, former chairman and managing director (CMD) of Bank of India (BoI) and Oriental Bank of Commerce (OBC), along with 33 other individuals and companies, while exonerating 49 other companies named...

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Moneylife Digital Team 02 May 2024
In India, we often witness spats over ownership and control in business families, from big to smaller ones. Amidst such an environment, the 127-year-old Godrej family decided to split the business into two, peacefully and amicably. Most importantly, each family group will have exclusive rights...

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Moneylife Digital Team 30 April 2024
Holding four Indian affiliates of Ernst & Young Global (EYG) responsible for professional misconduct and reaping benefits of affiliation with EYG for influencing prospective clients, the Institute of Chartered Accountants of India (ICAI) directed these four firms to stop their existing...

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