BUSINESS
Sebi raids shell companies involved in Rs 300 ‘pump and dump’ scheme across Ahmedabad, Mumbai and Gurugram
Sources said these are one of the biggest raids in Sebi’s history in terms of monetary value.
BUSINESS
Retail investors bet big on turnaround stories in hopes of a jackpot
Tata Motors, Yes Bank, Tata Steel, Vodafone and Suzlon energy are the stocks with highest number of retail investors
BUSINESS
What does proposed stake increase by Zee promoters mean for company, shareholders?
Promoters of Zee have proposed to increase their stake to 18.39 percent by subscribing to warrants worth Rs 2,237 crore, the company told stock exchanges on June 16
BUSINESS
INSCO submits Rs 2.7k crore resolution plan for HGIL; creditors vote today
After a nudge from the Supreme Court, INSCO has now matched the offer of earlier applicant AGI Greenpac whose bid was disqualified by the court
BUSINESS
Family offices stitch together AIF structures in GIFT City to bypass overseas investment hurdles
Regulatory ambiguity around OPI and ODI routes has stalled foreign investments. Several ultra-rich families now eye multi-family office setups to sidestep the roadblock
BUSINESS
AGI asks CCI to cancel green channel approval to INSCO for Hindusthan Glass acquisition
The Supreme Court had, on January 29, cancelled the bid of AGI Greenpac for failing to secure CCI approval for acquisition of Hindusthan Glass & Industries.
BUSINESS
BIS to sue Amazon and Flipkart, seek compensation for non-certified goods
BIS conducted raids at various warehouses of Amazon and Flipkart on March 19
BUSINESS
Turn chartered accountants into whistleblowers: ICAI’s solution to Sebi’s corporate fraud problem
ICAI has formed a special committee to suggest proposals that can help in early detection of corporate fraud
BUSINESS
PwC former chief Shyamal Mukherjee moves Supreme Court against firm
The case involves a dispute about retirement dues which Shyamal Mukherjee says are payable to him
BUSINESS
Debt Recovery Tribunal bars Gensol promoters from sale or transfer of assets
In an order issued on Wednesday, the tribunal has also asked the court appointed officer to take possession of mortgaged EVs of Blu Smart.
BUSINESS
RBI duty-bound to consider Shapoorji Pallonji's concerns regarding Tata Sons: Former CJI Lalit to SP Group
While Tata Sons has been making an effort to secure exemption from RBI’s mandatory listing norm, the Shapoorji Pallonji Group, a shareholder, has been pushing for a listing.
BUSINESS
Indian food and consumer regulators calling out brands to nudge large companies towards compliance
Food and consumer laws have limited penalty powers, which may not be enough of a deterrent for companies, say legal experts
COMPANIES
CCPA may ask Zomato, Swiggy to revise cancellation policies
Currently, a customer loses about 90% of the order value in case of cancellation of the order
BUSINESS
Sebi probing Yes Bank disclosures regarding SMBC deal
On May 9, Yes Bank announced signing of a share purchase agreement between SMBC and Yes Bank along with the investors of the domestic lender.
BUSINESS
Antfin’s Rs 2.1k crore share sale in Paytm will be exempt from capital gains tax
On May 13, Antfin sold 2.54 crore shares of Paytm at an average price of Rs 824.6 a share
BUSINESS
India’s domestic defence equipment capable of new-age warfare but pvt participation should increase: Experts
India’s domestic defence industry has seen a sharp increase in output since 2015. The total value of indigenously produced equipment in FY24 was Rs 1.3 lakh crore, 174% higher than in FY15.
BUSINESS
Ant fin willing to give upto 6% discount for Paytm stake sale
The Alibaba group entity will sell 4% of its stake in Paytm on Tuesday; Floor price set at Rs 809.75 apiece.
BUSINESS
Companies, suppliers examine Force Majeure as India-Pakistan tensions escalate
Companies are ascertaining which part of their supply chain could be impacted and how Force Majeure is worded in the contracts related to high risk supply chain
BUSINESS
Companies issue safety advisories, ask employees to work remotely wherever possible
Manufacturers who have plants in Punjab, Rajasthan and Gujarat, which border Pakistan, have issued detailed dos and don’ts and also advised factory managers to follow the security protocol
BUSINESS
Legacy FPIs in Bajaj Finance staring at possible tax shock over bonus shares
The tax impact of FPIs arises from the capital gains tax rules and grandfathering provision, introduced in 2018, that brought back long-term capital gains (LTCG) tax on listed equities.
BUSINESS
Wall Street firm Jane Street faces NSE probe for certain F&O trades
The issue involves certain trades where the firm reversed its trading position in a very short span of time
BUSINESS
India’s big tech to find it more expensive to settle CCI cases
CBDT ends tax rebate on settlement fee paid by companies for violation of CCI and SEBI rules. The settlement amount will now be taxed at 25.17% for corporates, say experts
BUSINESS
Hero Motocorp to relinquish special rights in Ather following IPO
Hero Motocorp is a key investor in Ather with 37.2% stake and currently has special privileges including information rights
BUSINESS
Indian exporters face compliance challenges with RoDTEP annual filing
The annual returns require details like duties paid on transport of the goods along with duties paid on electricity while manufacturing the product which are difficult to provide, say market experts.
