COMPANIES & SECTORS


Moneylife Digital Team 20 January 2022
Shares of PTC India Financial Services Ltd fell nearly 19% in morning trade on Thursday following the resignation of three independent directors (IDs) over severe governance lapses and compliance in the State-run company, especially by its managing director (MD) and chief executive officer...

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Urvi Mahajani (Free Press Journal) 20 January 2022
The Serious Fraud Investigation Office (SFIO) has contended before the Bombay High Court that a trial court can pass an order extending remand of an accused in the absence of cognisance of the charge sheet.   The argument was made by Hiten Venegaonkar, counsel for the SFIO, while...

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Moneylife Digital Team 19 January 2022
Reliance Jio Infocomm Ltd (Jio) says it has paid Rs30,791 crore, including accrued interest, to the department of telecom (DoT) towards prepayment of the total deferred liabilities related to spectrum acquired in auctions of 2014, 2015, 2016 and the spectrum obtained in 2021 through trading...

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Renewed restrictions on operating hours of malls, non-essential stores and curtailment of mobility amid the third Covid wave is expected to shave-off 8 per cent of fashion retailer's revenues in FY22.   According to ratings agency ICRA, these retailers are expected to reclaim upto...

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The Supreme Court on Monday upheld the National Company Law Appellate Tribunal order, passed in September last year, directing for winding up of Devas Multimedia, which made it a first case of winding up a company on ground of fraud.   A bench of Justices Hemant Gupta and V....

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The Supreme Court on Monday told Supertech to execute the agreement with a building demolition firm, finalised by Noida, within a week, to pull down its two 40-storey towers.   In August last year, the top court had ordered the demolition of Supertech twin towers in...

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In a setback to Devas Multimedia, the Supreme Court on Monday upheld the National Company Law Appellate Tribunal (NCLAT), which in September last year dismissed a petition filed by Devas Multimedia against the order of the national company law tribunal (NCLT) to wind up the...

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Moneylife Digital Team 15 January 2022
India’s airlines are flying towards their steepest-ever net loss of more than Rs20,000 crore this fiscal - 44% more than the Rs13,853 crore bled last fiscal—owing to the twin headwinds of the third wave of the COVID-19 pandemic and high aviation turbine fuel (ATF) prices, says a research...

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Supply as well as demand constraints impacted India's auto sector sales in December 2021 on a year-on-year basis. Similarly, the sector's current off-take of passenger vehicles, two-and-three wheelers, were far behind the 2019 sales levels.   In terms of PVs, challenges pertaining to...

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Reliance Industries (RIL) on Thursday signed Memorandums of Understanding (MoU) with the Gujarat state for a total investment of Rs 5.955 lakh crore as part of the investment promotion activity for 'Vibrant Gujarat Summit 2022', which was supposed to be held from January 10-12 in Gandhinagar,...

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Moneylife Digital Team 13 January 2022
The Omicron-led third wave of the pandemic could pose fresh turbulence for air traffic, pushing full recovery into fiscal 2024 from an earlier expectation of it happening in fiscal 2023. At the same time, an uptick in tariffs, liquidity and refinancing ability will cushion credit quality of...

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BK Syngal BK Syngal 13 January 2022
There has been a high-decibel debate in the media, both print and electronic, over Vodafone-Idea (VI) (and later Tata Teleservices) offering equity to the government of India to offset the interest burden that would accrue over four years. The government had granted them a moratorium for four...

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The Future group on Tuesday submitted before the Supreme Court (SC) that Future Retail Ltd will sink with its 30,000 employees, if its over Rs24,000-crore deal with Reliance Retail fails to reach fruition.   The Future group also sought permission from a bench, headed by Chief Justice...

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Moneylife Digital Team 11 January 2022
After 11 quarters, the earnings before interest, taxes, depreciation and amortisation (EBITDA) margin of Indian companies is likely to fall during the third quarter (Q3). While India Inc sustained revenue momentum, it was driven by price hikes rather than volume growth, says a research note...

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A Seoul court on Monday approved a local consortium's acquisition of Mahindra & Mahindra-owned SsangYong Motor by Edison Motors for $254 million, paving the way for the financially-troubled carmaker to get back on track.   The consortium led by electric carmaker Edison Motors signed a...

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Moneylife Digital Team 11 January 2022
While struggling to hive off its stake in State-run telecom companies, the Indian government is set to own a 35.8% stake in private operator Vodafone Idea Ltd and about 9.5% stake in Tata Teleservices Ltd (Tata Tele) after converting the total amount of interest related to spectrum auction...

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Moneylife Digital Team 06 January 2022
Hyderabad-based Natco Pharma Ltd and Chennai-based Thejo Engineering Ltd are the winner and runner-up of Moneylife Foundation's inaugural Corporate Governance Award. In an online function, M Damodaran, former chairman of SEBI (Securities and Exchange Board of India) announced the winner and...

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Moneylife Digital Team 06 January 2022
A law court in Montreal district of Canada has allowed three Mauritius-based investors of Devas Multimedia Pvt Ltd, a joint venture between the Indian government-owned Antrix Corporation and Devas Multimedia Ltd, to seize funds deposited by Airport Authority of India (AAI) and Air India with...

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In a new development in the ongoing legal tussle between Amazon and Future Group, the Delhi High Court on Wednesday stayed further arbitration proceedings between the parties before the Singapore tribunal till February 1.   A bench, headed by Chief Justice D.N. Patel and comprising...

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The Competition Commission of India (CCI) on Wednesday told the Karnataka High Court that it may complete the ongoing anti-trust investigation into Google Play Store policies within 60 days.   The submission in the court was made on behalf of Additional Solicitor General N....

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