COMPANIES & SECTORS


Some 80,000 customer complaints a month about faulty scooters, and a customer frustrated enough to torch a showroom last month, is the kind of stuff that would put a company in fire-fighting mode, while its stock price plummeted. But we live in strange times where companies, even in such deep...

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Moneylife Digital Team 11 October 2024
Ratan Naval Tata, chairman emeritus of Tata Sons, the holding company of Tata group and chairman of Tata Trusts, passed away in Mumbai's Breach Candy Hospital late on Wednesday evening due to health-related issues. He was 86. Tata Sons chairman N Chandrasekaran, in a statement says, “It is with...

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Moneylife Digital Team 11 October 2024
Noel Tata, the half-brother of the late Ratan Tata, will be the next chairman of Tata Trusts. The 67-year-old Noel was chosen by trustees of various Tata Trusts that control the Tata group a joint meeting in Mumbai.   In a statement, Tata Trusts says, "The trustees of various trusts that...

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Moneylife Digital Team 11 October 2024
Ratan Naval Tata, a shy man who was so bored in his initial years with the Tatas that he almost went back to the US, was ignored and sidelined by the chieftains of the different Tata companies and had little opportunity to implement his vision and strategy until he was in his 50s.    From...

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There was an important job to be done and Everybody was sure that Somebody would do it.    Anybody could have done it, but Nobody did it.    Somebody got angry about that because it was Everybody's job.    Everybody thought that Anybody could do it, but Nobody realised that Everybody...

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Moneylife Digital Team 09 October 2024
The revised equity index derivatives framework announced by the Securities and Exchange Board of India (SEBI) last week is expected to hit transaction volumes in the futures and options (F&O) segment of stock exchanges, ultimately impacting the revenue and profitability of brokers, says a...

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Financial fraud can be classified into a few conventional models.    The one prevalent in the days when the stock market valuation was not the driving reason and when the tax rates were high was inflating the expenses and/or understating the sales.   The owners would sponge out the money by...

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The previous two parts on this topic covered a few of the noted audit failures within India and elsewhere. (Read: Audit May Be Easier To Replace than Reform! / The Growing Despair of Accounting Frauds and Audit Failures!)   One of the cases discussed in some detail is that of Dewan Housing...

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Moneylife Digital Team 04 October 2024
Dr Keki Hormusji Gharda, a legend in chemical engineering who revolutionised the industry with his groundbreaking innovations, forever changing the landscape of Indian chemicals manufacturing, passed away on 30 September 2024. Dr Gharda, a Padma Shri awardee, was the founder, chairman, and...

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Moneylife Digital Team 02 October 2024
The competition commission of India (CCI) has approved the acquisition of Bharat Serums and Vaccines Ltd (BSV) by Mankind Pharma Ltd. The proposed transaction involves the acquisition of 100% shareholding of Bharat Serums and Vaccines by Mankind Pharma.   In July, Mankind signed an agreement...

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“There are some frauds so well conducted that it would be a stupidity not to be deceived by them,” is an aphorism of Charles Caleb Colton, an English writer of the 18th century.   It is not wise to let this happen often and such should be reserved for the most worthy ones!   The previous...

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Moneylife Digital Team 30 September 2024
After fighting for years, fin-tech platform BharatPe has reached a settlement with its cofounder and former managing director Ashneer Grover. Following allegations of misappropriation of funds, BharatPe had initiated civil and criminal action against Mr Grover and his family members. In March...

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Moneylife Digital Team 30 September 2024
The US Securities and Exchange Commission (SEC) has taken action against GQG Partners LLC, an investment firm founded by Rajiv Jain, for obstructing whistleblower protections. The SEC found that GQG's non-disclosure agreements (NDAs) with 12 candidates for employment and a settlement agreement...

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Moneylife Digital Team 27 September 2024
In a significant development following Moneylife's report, Supreme Infrastructure India Limited (SIIL) has withdrawn its proposed preferential issue of equity shares and convertible warrants that had raised serious concerns about corporate governance and public fund management. Moneylife...

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The subtle, surgical and surprise moves of the two warring promoters of the Finolex twins, Finolex Industries Ltd, and Finolex Cables Ltd, is a potent competitor to the just concluded Chess Olympiad, swept by the Indian grand masters (GMs)!   The voting results of the recently held annual...

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Moneylife Digital Team 26 September 2024
A US court has set aside a US$25mn (million) arbitral award against Meleveetil Damodaran, former chairperson of the Securities and Exchange Board of India (SEBI), in the Glocal Healthcare Systems Pvt Ltd (Glocal) and UpHealth Holdings Inc dispute. While holding that there was no evidence in the...

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Even after paying through the nose, you often do not receive the bare minimum quality or service. This is when Indian consumers prefer to go by the tagline 'Kitna Deti Hai' or the mileage they can get after paying the money. After remaining under the myth of the 'fastest data network' and...

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Considering that the issuance of contracts through tenders in various infrastructure projects has been mired in controversy—particularly after the recent collapse of bridges, roads and airport ceilings—the information commissioner’s directive to make all tenders transparent is a hope for better...

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Moneylife Digital Team 25 September 2024
The Supreme Court refused to entertain an appeal filed by Videocon group chief Venugopal Dhoot seeking to halt lenders of insolvency-ridden Videocon Industries Ltd from dealing with foreign oil and gas assets of Videocon Oil Ventures, a group company.   While refusing to direct the national...

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Debayan Roy (Bar  and   Bench) 25 September 2024
The Supreme Court on Wednesday expressed doubts over whether the National Company Law Appellate Tribunal (NCLAT) had applied its mind while deciding to close insolvency proceedings against ed-tech firm Byju's (Glas Trust Company LLC v. Byju Raveendran and ors).   The Court indicated that it...

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