BUSINESS
US indictment brings focus on certain disclosures made by Adani Group companies
The US DOJ has accused the company of not disclosing developments pertaining to the anti-bribery probe to the US based bondholders while selling them bonds.
BUSINESS
Not just Goenka reappointment, proxy advisor asks Zee shareholders to vote against adoption of financial statements
Both Goenka’s reappointment and the adoption of financial statements are ordinary resolutions, which as per Companies Act, require 51 percent of the votes cast at the AGM to be in favour of the resolution for it to pass.
BUSINESS
MIT’s India portfolio stands out amid FPI selloff, check out its top bets
MIT, the world’s second best university, has taken a contrarian view of Indian markets when compared to other foreign funds — buy emerging stocks and hold them long, data complied by Moneycontrol shows
BUSINESS
Singapore government cements its position as largest FPI in India
With investments in 78 different Indian companies, the market value of Singapore government’s holdings is roughly same as the next two FPIs combined
BUSINESS
Punit Goenka to face a test of investor confidence at Zee Entertainment AGM
Analysts note that ZEEL’s institutional shareholders, including domestic mutual funds and foreign portfolio investors (FPIs), will play a critical role in determining Goenka’s continuity.
BUSINESS
New foreign funds are queuing up for India licence despite FPI sell-off
67 new FPIs came into India in October even though FPIs dumped shares worth Rs 94,017 crore during the month
BUSINESS
Reverse flip rush of start-ups into India may lead to Rs 20,000-crore tax boost
At least half-a-dozen companies, including Flipkart and Pine Labs, are currently exploring the reverse flipping option.
BUSINESS
Consumer affairs mulling action against FMCG giants for failing to display best-before dates on their online portals
The ministry also already sent notices to quick commerce and e-commerce companies. Companies are required to specify the use-by date for products meant for human consumption and mandates e-commerce entities to declare this information for all pre-packaged commodities sold on their websites.
BUSINESS
Bankers seek dilution of new investment banker norms proposed by Sebi
I-Bankers have made a representations to Sebi, asking it to revisit the definition of "relatives" in the August 28 consultation paper, saying it is too wide and will be hard to comply with
BUSINESS
Sebi summons ICICI Securities over delisting saga as minority investor pressure mounts
To be sure, the probe is unlikely to impact the delisting transaction, which has already received a nod from the NCLT despite objections from minority investors
BUSINESS
HUL challenges Rs 962-cr tax demand for ‘Horlicks’ deal with GlaxoSmithKline with Tax Commissioner
Tax uncertainty on trademark transfers continues to create confusion amongst foreign companies
BUSINESS
Govt looking to align some indicators of India’s BRAP 2024 index with the World Bank’s B-READY index
Moneycontrol had earlier reported that the government had asked states to address the gaps in the B-READY evaluation to improve their ranking in the global index
BUSINESS
Amazon, Shiprocket and DHL apply for government’s e-commerce export hub pilot
In August, DGFT invited proposals for creation of e-commerce export hubs to expedite clearance of e-commerce exports, ensuring quicker delivery of goods
BUSINESS
Swiggy provides special indemnities to directors of SoftBank, Accel and Prosus, ahead of IPO
Prosus owns 30.95%, while SoftBank and Accel own 7.75% and 6.08%, respectively, of Swiggy. Prosus is eligible to nominate two board members, while SoftBank and Accel can name one each.
BUSINESS
FPIs express concerns over Sebi’s derivative curbs; seek a more calibrated approach
Concern largely around index options and surge in volumes during expiry, Sebi tells the FPIs
BUSINESS
Govt developing roadmap to start work on 100 industrial clusters
The plan is in its initial stages; industrial clusters are expected to help aid job creation.
BUSINESS
Religare's Rashmi Saluja seeks intervention from PMO, FinMin amid allegations by ED, SEBI
Rashmi Saluja is in the middle of a fierce takeover battle with the Burmans. She contends that the allegations on her by SEBI and the ED don’t hold ground
BUSINESS
'You can't undervalue your own company': Religare's Rashmi Saluja questions ED & SEBI on ‘baseless allegations’
Rashmi Saluja, Executive Chairperson, finds herself amidst a storm with recent raids by the Enforcement Directorate and allegations from SEBI. Saluja says she is being targeted and reiterates that the Burmans' offer price undervalues the company. She adds that the Burman vs Saluja battle is inappropriate and affirms her commitment to continue building value for the company.
BUSINESS
Acquisition of India Cements to save a 'failing firm': UltraTech Cement tells CCI
The Aditya Birla Group-owned cement maker told the CCI that the proposed deal won't have any adverse impact on competition.
BUSINESS
Sebi seeks details of ‘side letters’ from AIFs: Sources
The purpose of the exercise to ascertain whether some ‘side letters’ or private agreements being offered by AIFs to a select few is putting other investors to disadvantage.
BUSINESS
New NFRA rules face opposition from smaller CA firms
NFRA has proposed that group auditors be held responsible for complete financial statements ; CAs seek joint responsibility.
BUSINESS
Government looking East for 12 industrial smart cities, in talks with Singapore, Japan
The government is scouting foreign companies that can set up operations in these smart cities. The focus is on projects that can generate local employment opportunities
BUSINESS
New compounding norms to ease settlement of minor FEMA offences, help avoid ED action
The government increased thresholds for compounding significantly allowing more non-serious FEMA violations to be settled by paying a fine. Filing process also eased now with a single form and online payment option
BUSINESS
PE, VC-driven deals to face enhanced competition scrutiny under new rules
The Competition Commission of India tightens the exemption list under new combination rules amid concerns that the norms will further complicate matters for PE and VC investors, legal experts say.
