SC sets aside HC order staying SFIO probe into 9 companies related to Sahara group

The Supreme Court on Thursday set aside a Delhi High Court order staying a Serious Fraud Investigation Office (SFIO) probe into nine compani...
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After wheat, Centre caps sugar exports at 10 million tonnes for 2021-22

Amid historically highest exports, the Centre on Wednesday (May 25) said it has notified capping of sugar exports at 10 million tonnes in the current marketing year ending September to maintain the domestic availability and price stability. The notification was issued by the Directorate of General of Foreign Trade (DGFT) late at night on May 24....

Maharashtra govt inks MoUs worth ₹30,379 crore at World Economic Forum

The Maharashtra government, which has sent a delegation of ministers to attend the World Economic Forum (WEF), 2022 in Switzerland’s Davos, inked 23 Memorandums of Understanding (MoUs) for investments worth $4 billion (₹30,379 crore) across a range of sectors including pharmaceuticals, medical services, data centres, information technology, food pr...

As markets bite, job cuts at Indian start-ups reach alarming proportions

“Currently, the external environment is tough. War in Europe, impending recession fears, and Fed rate interest hikes have led to inflationary pressures with massive correction in stocks globally and in India as well,” Vedantu cofounder Vamsi Krishna said

SC stays NGT order imposing penalty of over Rs 15 crore on Coca-Cola’s bottling...

The Supreme Court has stayed a National Green Tribunal (NGT) order imposing an environmental compensation of over Rs 15 crore on Moon Beverages, a key bottler for American beverage maker Coca-Cola in north India. A bench comprising Justices L Nageswara Rao, B R Gavai, and A S Bopanna issued notice on the plea filed by Moon Beverages to a Ghaziab...

From G7 nations to traders to farmers, India’s wheat export ban has pleased non...

After promising to help the world meet its food needs, India’s sudden U-turn to ban wheat export has hit several stakeholders in the export ecosystem amid a global crisis triggered by the Russia-Ukraine war

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Amazon accuses Future Group’s independent directors of ‘fraudulent strategy’

Amazon has accused independent directors of Future Retail Ltd (FRL) of facilitating "fraudulent stratagem" of transfer of 835 stores to billionaire Mukesh Ambani's Reliance group. It said the narrative of that transfer on account of failure to pay huge outstanding rent was a "sham" as the retailer had a month prior to such move stated that outstand...

To offset fuel excise duty cut, Centre may borrow ₹1 lakh crore: Report

A day after the Union government announced a reduction in excise duty on petrol and diesel, a report said that it may borrow the entire ₹1 lakh crore which will be the revenue implication due to the cut in levies. On Saturday (May 21), Union Finance Minister Nirmala Sitharaman announced that the central excise duty on petrol will be cut by ₹8 pe...

Amazon writes to Future independent directors, accuses them of facilitating fraudulen...

Amazon has accused independent directors of Future Retail Ltd (FRL) of facilitating "fraudulent stratagem" of transfer of 835 stores to billionaire Mukesh Ambanis Reliance group, saying the narrative of that transfer was on account of failure to pay huge outstanding rent was a "sham" as the retailer had a month prior to such move stated that outsta...

Apple set to choose India over China to boost production: Report

US tech giant Apple is looking at India and Vietnam to boost productions outside China, according to a report. “Apple Inc. has told some of its contract manufacturers that it wants to boost production outside China, citing Beijing’s strict anti-Covid policy among other reasons, people involved in the discussions said,” according to a report in W...

Salil Parekh reappointed as MD & CEO of Infosys for 5 years

The board of IT services major Infosys has approved the reappointment of Salil Parekh as Chief Executive Officer (CEO) and Managing Director of the company for five more years, till March 31, 2027, according to a regulatory filing. This is based on the recommendations of the Nomination and Remuneration Committee (NRC) and subject to the approval...

Consumer rights body pulls up Ola, Uber over unfair trade practices

Cancellations by drivers, insistence on cash payments, rude behaviour, differential pricing on the same route, and refusal to switch on the AC top complaints

Mutual funds raise Rs 1.08 lakh-cr via 176 new fund offers in FY22

Riding on intense retail investors interest and a sharp rally in equity markets, asset management companies (AMCs) launched 176 new fund offerings (NFOs) in 2021-22, garnering a whopping Rs 1.08 lakh crore. With liquidity tightening, interest rates on the rise, stock market consolidation in progress, return to work from office, there could be su...

M-Cap of 3 of top-five valued firms jumps Rs 1.78 lakh-cr; Reliance is lead gainer

Three of the top five valued firms together added Rs 1,78,650.71 crore to their market valuation last week, led by Reliance Industries. Last week, benchmark BSE Sensex climbed 1,532.77 points or 2.90 per cent. While Reliance Industries, HDFC Bank and Hindustan Unilever were the gainers from the top-five pack, Tata Consultancy Services and Inf...

Petrol, diesel cheaper: How states have reacted to Centre’s cut on excise duty  

Petrol and diesel will be cheaper after the Centre’s announcement to cut down on excise duty on petrol by ₹8 per litre and diesel by ₹6 per litre to alleviate the woes of the common man amid inflation. Revised prices In Delhi, petrol will be cheaper by 8.65 per litre and diesel by ₹7, and cost ₹96.76 (against the earlier price of ₹105.41 per...

Petrol, diesel prices reduced as Centre cuts excise duty

Amid rising inflation, the Central government on Saturday (May 21) announced that it is reducing excise duty on petrol and diesel. Union Finance Minister Nirmala Sitharaman said the Central excise duty on petrol will be slashed by ₹8 per litre and on Diesel by ₹6 per litre. This will have “revenue implication of around ₹1 lakh crore/year for the...

Jet Airways to resume flights soon; starts hiring process

Jet Airways on Friday (May 20) announced that it had received Air Operator Certificate (AOC) from the Directorate General of Civil Aviation (DGCA) to fly again. “AOC received? Check! (check mark emoji) #TheJoyIsComingBack,” the airline tweeted. Also read: In new avatar, Jet Airways has 10 guiding principles for smooth take off In another t...

Is Elon Musk getting cold feet? Why he may be trying to pull out of buying Twitter

Two factors may have changed Musk's mind: a meltdown in technology stocks, and apprehension among Tesla's shareholders

Edible oil prices in India likely to drop as Indonesia lifts ban on palm oil export

Indonesia meets about half of palm oil requirement of India, which uses it to blend with other oils

Axis AMC sacks another fund manager, Deepak Agrawal, over alleged front-running

Days after terminating its chief trader Viresh Joshi, Axis Asset Management Company on Friday sacked its fund manager Deepak Agrawal, who too was facing allegations of front-running. Front-running refers to an illegal practice in the stock market where an entity trades on the basis of advance information from a broker or analyst before the infor...

Jet Airways set to fly again, DGCA grants AOC approval after proving flights

DGCA has granted the air operator certificate to Jet Airways allowing the airline to resume commercial flight operations after a hiatus of nearly three years.

Jet Airways gets air operator certificate from DGCA, can resume flight operations

Aviation regulator DGCA on Friday granted Jet Airways the Air Operator Certificate (AOC), allowing the airline to resume commercial flight operations. DGCA chief Arun Kumar said the “AOC” has been “granted” to Jet Airways, reported news agency PTI. The Naresh Goyal-founded Jet Airways, which operated its first commercial flight on May 5, 1993...

FDI inflow at all-time high of $83.57 bn in 2021-22; Karnataka top state

India has recorded the highest-ever annual FDI (foreign direct investment) inflow of $83.57 billion in the Financial Year 2021-22, the Ministry of Commerce & Industry said on Friday (May 20). “In 2014-2015, FDI inflow in India stood at mere 45.15 USD billion as compared to the highest ever annual FDI inflow of USD 83.57 billion reported duri...

FDI inflow hits all-time high of $83.57 bn in 2021-22

India has recorded the "highest ever" annual FDI (foreign direct investment) inflow of USD 83.57 billion in 2021-22, the commerce and industry ministry said on Friday. In 2020-21, the inflow stood at USD 81.97 billion, it added. "India is rapidly emerging as a preferred country for foreign investments in the manufacturing sector," the ministr...

Desi tech leaders in US invest $120 million in American version of IPL

Indian-American business leaders including Microsoft CEO Satya Nadella and Adobe CEO Shantanu Narayen have invested $120 million in an IPL-style franchise Twenty20 cricket league set to be launched in the US in 2023. Major League Cricket (MLC) announced in a press release that it has completed an initial close of a $44 million Series A and A1 Fu...

SEBI orders new format for security cover certificate, revises timeline

To provide a holistic picture of all borrowings and the status of encumbrance on the assets of listed entities, capital markets regulator SEBI on Thursday came out with a new format for disclosing security cover to the stock exchange and debenture trustee. Also, the regulator has put in place obligations of listed entity and debenture trustee (D...
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