For years they tiptoed around each other but now the groups led by billionaires Mukesh Ambani and Gautam Adani will for the first time be in direct competition when they later this month participate in the auction of airwaves capable of providing fifth generation or 5G telecom services. But the rivalry between the two politically [...]
The CBI has arrested Executive Director of Power Grid Corporation of India B S Jha and five officials of Tata Projects, including its Executive VP Deshraj Pathak and Assistant VP R N Singh, in connection with alleged bribery to favour the private company, officials said on Thursday. The probe agency had conducted searches on Wednesday [...]
Reliance Retail Ltd on Wednesday announced its long-term partnership with Gap and plans to bring back the iconic American fashion brand to India. "Through a long-term franchise agreement, Reliance Retail has become the official retailer for Gap across all channels in India," said a joint statement. Earlier, Gap Inc had a franchise business relationship with [...]
E-commerce major Amazon has alleged that independent directors of Future Retail failed to exercise their statutory duties and their conduct and attitude raise substantial questions on accountability, transparency and fairness regime for corporate governance in India. In a strongly worded letter to Future Retail's independent director on July 4, Amazon has also raised objection to [...]
Mortgage lender HDFC Ltd on Tuesday said it has partnered with software firm Salesforce to support the company's growth priorities. HDFC wanted to build the next generation of integration backbone, to easily connect backend and frontend systems including Salesforce, the mortgage firm said in a statement. Mulesoft with its innovative API-led integration approach and low [...]
Reliance Power (RPower) shareholders have turned down a special resolution to monetise its assets during the annual general meeting held on July 2. All special resolutions are required to be approved by 75 per cent or more votes of shareholders. A BSE filing by the company showed that 72.02 per cent of votes were cast [...]
Edelweiss Broking on Tuesday said it will raise up to Rs 300 crore through the public issuance of non-convertible debentures to support working capital requirements. The issue will open on July 5 and close on July 26 with an option of early closure, the company said in a statement. The public issue of secured redeemable [...]
Britannia Industries' shareholders have voted against a resolution to authorise the board to make investments, give loans and provide guarantees of up to Rs 5,000 crore in the AGM concluded last week. The special resolution for approval to increase limits for making investments, loans, Special guarantees and security was "not Passed with requisite majority," said [...]
Gold loan-focussed Non-Banking Financial Company (NBFC) Muthoot Finance on Monday said it has received an approval from Reserve Bank of India (RBI) to open additional 150 branches across the country. The non-bank lender plans to open these branches across southern and northern parts of the country, a release said. "As the economy gradually recovers, the [...]
Edtech firm Byju's said on Monday that it has completed payment that was due for the acquisition of Aakash Educational Service and received majority of USD 800 million fund which it announced in March. The company is estimated to have acquired Aakash Educational Services Limited for around USD 950 million. "Our fundraising efforts are on [...]
