BUSINESS
Advent International to buy controlling stake in Eureka Forbes for approx Rs 4,400 crore
This transaction will be Advent's fifth consumer buyout in India. The deal is also expected to help Shapoorji Pallonji Group (SPG) in significantly deleveraging its balance sheet.
BUSINESS
Sonu Sood's house in Mumbai 'surveyed' by Income Tax Department
The IT department officials were conducting the survey at his residence since the morning.
BUSINESS
Mumbai EOW files 5th chargesheet in NSEL scam against Jignesh Shah, associates
NSEL founder Shah, his family members, confidantes and associates have been accused of trying to lure brokers to the commodity exchange by promising high returns
BUSINESS
NCLT directs Videocon group promoters, former key executives to furnish affidavit detailing assets
The NCLT has issued the order on a petition filed by the Ministry of Corporate Affairs (MCA) under Section 241& 242 of the Companies Act, 2013.
BUSINESS
MCA to apply to NCLT to attach assets of Videocon Industries to maximise recovery
Ministry of Corporate Affairs identifies assets worth Rs 5,000 crore. However, banks are getting only 4.15 percent of their total outstanding. Ministry is in the process of identifying more assets, say sources.
BUSINESS
NSE to take steps to curb fat-finger trades, unusual price movements in options
A four-step confirmation process implemented for futures is proposed to be introduced in the options segment
BUSINESS
GST Intelligence busts fake companies, arrests mastermind
The Mumbai Zonal unit of GST Intelligence, the investigation wing of GST, has arrested Santosh Doshi.
IPO
SEBI holds Adani Wilmar IPO due to investigation against Adani Enterprises
Market regulator has "kept in abeyance" the 4,500-crore initial public offering of the agro-commodity company due to an investigation against Adani Enterprises, which is under the lens for foreign portfolio investments.
BUSINESS
IFSCA does pilot run of International Bullion Exchange
The exchange will be the gateway for bullion imports into India and all bullion imports for domestic consumption shall be channelised through the exchange, says International Financial Services Centres Authority chairman Injeti Srinivas.
BUSINESS
Baba Ramdev’s Ruchi Soya receives SEBI approval to launch FPO
More than half the amount raised will be used to pare the company's huge debt burden. The FPO will help the company comply with SEBI’s minimum 25 per cent public shareholding norm in a listed entity
BUSINESS
Proxy firm SES raises concerns over Apollo Hospitals’ plan to sell pharmacy business to subsidiary
SES concerns pertain to conflict of interest in the related-party transaction, valuation discovery, and interests of minority shareholders.
BUSINESS
BSE clarifies price curbs for small stocks apply for minimum of 30 days
The stock exchange reduced the minimum period from 90 days and said the restrictions would affect only companies with a market capitalisation of less than Rs 1,000 crore
BUSINESS
SAT order indecisive on Carlyle deal to buy controlling stake in PNB Housing Finance
Both the parties can move the Supreme Court against SAT's decision. The Competition Commission of India had, on August 4, given its nod for the proposed Rs 4,000 crore investments by Carlyle Group and other investors in PNB Housing Finance.
BUSINESS
Brookfield-backed IndoStar Capital seeks time to meet minimum public shareholding norms
IndoStar Capital Finance missed the June 2021 deadline and plans to comply with the requirement in the next three to six months
BUSINESS
JSW Energy ties up with Australian firm to produce green hydrogen
Green hydrogen is part of JSW Energy’s plan to adopt innovative technologies like offshore wind and battery energy storage
BUSINESS
Shilpa Shetty, Raj Kundra and their company Viaan Industries fined Rs 3 lakh by SEBI in insider trading case
Raj Kundra, Shetty and Viaan have been fined for a three-year delay in the disclosure of an allotment of preferential shares
BUSINESS
SEBI panel exploring if SPACs can be introduced in India: Chairman Ajay Tyagi
The SEBI chairman also said companies should not treat disclosures as checkboxes to tick.
BUSINESS
Cement demand to increase on housing, infrastructure projects: UltraTech Chairman Kumar Mangalam Birla
As India’s cement industry seeks to make a comeback this year after shrinking last year on account of the pandemic, UltraTech Cement is gearing up by expanding its production capacity.
BUSINESS
Franklin Templeton: Supreme Court says SAT direction of Rs 250 crore deposit is “fair”
SAT had found the SEBI penalty on FT MF as ‘excessive’ as it did not account for the expenses borne by the fund house on managing the six wound-up schemes.
BUSINESS
Fertiliser plant in pipeline, will increase production capacity to 1.35 million ton: Arun Misra of Hindustan Zinc
India’s largest zinc producer is expecting worldwide production to grow at about 3-3.5%, whereas in India, a growth between 7-10% is expected.
BUSINESS
DGGI arrests CFO of Urja Global in input tax credit case fraud case
Krishan Kumar Bansal, Director of Microlyte & CFO of Urja Global, along with Yogesh Goyal (Director Urja Global) and Amit Dua (Director of NYX India) were arrested on Friday for "knowingly committing offences" under Section 132(1)(b) and 132(1)(c) of the CGST Act, 2017 which are cognizable and non-bailable offences.
BUSINESS
Markets in new era with domestic listing of tech startups: SEBI chairman Ajay Tyagi
The success of IPOs from new-age tech companies will attract more funds and help create a new ecosystem of entrepreneurs and investors, SEBI chairman Ajay Tyagi said
BUSINESS
Retail investors participation rises in securities mkt on low interest rate, ample liquidity: Sebi Chief
Speaking at NISM's second annual capital markets conference, Tyagi said retail investors' interest in the Indian securities market has increased from 2020-21 onwards.
BUSINESS
SEBI justifies intervention in PNB Housing-Carlyle deal, citing need for independent valuation
The regulator told the Securities Appellate Tribunal that it had to step in before the EGM to protect the interests of minority shareholders
