BUSINESS
Samsung moves High Court to extricate itself from Amazon, Flipkart anti-trust probe
Samsung claims that the cloning of employee phones during the 2022 search and seizure operation was illegal and asks the court to restrain CCI from using the evidence so collected.
BUSINESS
CCI files petition in Supreme Court against delaying tactics of e-commerce sellers on Amazon, Flipkart
The case is likely to settle the position on two key powers of CCI: search & seizure and expanding the ambit of probe, say legal experts.
BUSINESS
Zee may have to take fresh call on Goenka salary after he withdraws MD bid, say governance experts
In the run-up to the AGM in which shareholder voted against his appointment to the board, Goenka withdrew his nomination for MD’s position and said he would continue as CEO
BUSINESS
How retail investors of Zee blocked proposal to reappoint Punit Goenka as director
Even though 52 percent institutional voters supported the resolution, bulk of the retail voted against it
BUSINESS
Here's what Sebi’s proposed tweaks to angel funds mean for Indian investors
Sebi has proposed the concept of accredited investors, linked to net worth for angels looking to put money in Indian startups through various angel networks
BUSINESS
CCI probe exceeds mandate: e-retailers on Amazon, Flipkart argue before Karnataka HC
A single bench of the Karnataka HC, which is headed by Justice Hemant Chandangoudar, is hearing the case.
BUSINESS
Adani Group disclosed US bribery probe for the first time a year after FBI raided Sagar Adani
The first disclosure was made in March 2024 when Adani Green was raising $409 million in debt funding
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
