BUSINESS
Karvy Imbroglio: A trip down memory lane
It all began sometime in late 2019 when the SEBI learnt that Karvy had pledged the shares of its clients without their knowledge to raise funds for the group firms.
BUSINESS
India-Afghanistan trade, business take back seat amid political uncertainty
India’s primary concern now is to secure its citizens in Afghanistan and fly them home. Business and economics have been pushed back for the moment and a waiting game is on.
BUSINESS
NCLT verdict in Siva Industries case questions commercial wisdom of banks
The ruling echoes apprehensions of a parliamentary panel that recommended a code of conduct be framed for lenders to define and circumscribe their decisions in corporate insolvency resolution cases
INDIA
Tamil Nadu government sets up high-level agriculture panel
Firstly, the aim is to bring an additional area of 11.75 lakh hectare under net area sown so as to increase the present cropped area from 60 percent to 75 percent.
BUSINESS
Time not ripe for fiscal consolidation, TN finance minister says in budget
Tamil Nadu’s revenue deficit is expected to widen to Rs 58,692.68 crore because of the current, exceptional times, finance minister Palanivel Thiaga Rajan said, but that does not detract from the DMK government’s commitment to fiscal rectitude and consolidation
BUSINESS
NCLT rejects Siva Industries settlement offer, orders liquidation
Tribunal found settlement plan ambiguous; called it a ‘business restructuring plan'.
BUSINESS
India Cements’ Q1 profit more than doubles on higher production
The company said the impact of the pandemic was limited to a few states during the second wave and it is “cautiously optimistic” about the immediate future, given expectations of a third wave
BUSINESS
India Cements upbeat on demand revival
Economic activity is not likely to take a big hit even if there is another wave of the pandemic because more and more people are getting vaccinated, the company’s MD N. Srinivasan says
BUSINESS
Tamil Nadu finances ‘dire,’ revenue must increase to curb ballooning debt
Tamil Nadu must fundamentally change its approach if it is to break out of the vicious cycle of increasing debt and interest costs, according to the white paper on the state’s finances. That may bring in once-in-a-generation reforms
BUSINESS
SF Holdings enhances stake in two companies, buys out foreign partners for Rs 450 crore
The company consolidated its holdings in Wheels India and Brakes India, expecting recovery and growth in the automotive sector in the medium term.
BUSINESS
Shriram Group flirts with restructuring again to give investors exit options
This is not the first time that the financial services group, a household name in Tamil Nadu, is considering mergers as a way of creating value for investors in the holding company.
BUSINESS
Former Tamil Nadu minister takes break from politics to commit fully to running businesses
K Pandia Rajan, a former minister in the ousted AIADMK government in Tamil Nadu, says politics kept him from giving full attention to businesses of the Ma Foi group he founded. One of the companies CIEL HR is aiming to launch an IPO.
BUSINESS
So you want to invest in an internet IPO?
Is Zomato a happy story? Or, is it a cause for worry? Either way, it is time to indulge in a hard look at the emerging dynamics in the marketplace.
BUSINESS
The N Srinivasan Interview | India Cements boss on 75-year run, Chennai Super Kings, cricket and more
Vice-chairman and managing director of ICL speak of cement, cricket, BCCI, and a raft of other topics.
BUSINESS
Chennai’s MGM Hospital buys Le Meridien hotel
Chennai branch of the National Company Law Tribunal (NCLT) has cleared a proposal by MK Rajagopalan, Managing Director of MGM Healthcare, to take over Appu Hotels, which runs the Le Meridien hotel.
BUSINESS
NCLT orders Simpson and Company to set up trust on dissenting shareholders row
“The dissenting shareholders are certainly free to enjoy their constitutional rights of holding these shares after consolidating by institutionalising a trust or selling these shares for a better price than what is offered by the applicant company, if there are buyers,” the tribunal said.
BUSINESS
Neighbours’ envy: Why investors such as Kitex are betting big on Telangana?
The informal division of responsibility at the top is working well. While Chief Minister KCR looks at governance and politics, son KT Rama Rao, also the industries minister, spearheads business development, which ensures quick decision-making, say officials
BUSINESS
What the Ministry of Cooperation holds for co-operatives in India
Co-operative banks hitherto were under the dual control of the RBI and Registrar of Co-operative Societies. This often resulted in regulatory and supervisory lapses at many of these banks.
BUSINESS
Steep inflation big concern, losing competitive advantage in global market to China: Wheels India MD Srivats Ram
Srivats Ram says electrification is an opportunity for the automobile sector and that “the worst is behind us”. Wheels India boss weighs in on the effect of the pandemic, opportunities and challenges for the company, exports and more.
BUSINESS
Big e-commerce players must follow the law of the land
New rules for online marketplaces seek to level the playing field and protect the interest of consumers
BUSINESS
Can the new SEBI rules produce TN Seshan-like independent directors?
How independent are independent directors? SEBI’s fresh rules for the appointment of independent directors, who form the fulcrum of governance framework in any corporate setup, will be watched with keen interest.
BUSINESS
Analysis: The significance of the impending NCLT order on Siva Industries
Lenders have decided to drop bankruptcy proceedings against Siva Industries by accepting the one-time-settlement offer made by the company. This has now become a subject matter of intense debate. The National Company Law Tribunal (NCLT) ruling will have a sweeping effect on India’s bankruptcy laws.
