Airports Authority of India (AAI) has requested the government to waive the compulsory dividend payment requirement for the financial year ended March 2022, in lieu of the waiver of Air India's dues done prior to the sale of the carrier. State-owned AAI, which is in the red mainly after the impact of the coronavirus pandemic, [...]
The National Company Law Appellate Tribunal (NCLAT) on Monday rejected Amazon's plea challenging the decision of fair trade regulator CCI to suspend the approval for the e-commerce major's deal with Future Coupons. A two-member bench comprising Justice M Venugopal and Ashok Kumar Mishra, upheld the findings of the Competition Commission of India (CCI) and directed [...]
Chinese technology conglomerate Tencent has bought stake worth USD 264 million (about Rs 2,060 crore) in Flipkart from its co-founder Binny Bansal through its European subsidiary, according to official documents. Singapore-headquartered e-commerce firm Flipkart has operations in India only. Bansal holds around 1.84 per cent stake in Flipkart after selling part of his stake to [...]
Quick Trading and Investment Advisors LLP and Vipul D Modi have settled with market regulator Sebi in case pertaining to alleged insider trading in the shares of Religare Enterprises after paying settlement amount totalling Rs 2.43 crore. Individually, Vipul D Modi paid Rs 22.31 lakh towards settlement charges, while Quick Trading remitted Rs 2.21 crore [...]
The Abu Dhabi Investment Authority (ADIA) has picked up a 20 per cent stake in IIFL Home Finance for Rs 2,200 crore, a statement said. The Abu Dhabi sovereign wealth fund will make the investment through a wholly-owned subsidiary, said IIFL Home Finance, which is among the largest affordable housing financiers with assets under management [...]
Reddy's Laboratories on Thursday said its subsidiary has inked a pact with US-based Olema Pharmaceuticals Inc to research, develop and commercialise novel small molecule inhibitors of an undisclosed oncology target. Olema and Aurigene Discovery Technologies, a wholly-owned unit of Dr Reddy's Laboratories, have inked an exclusive global licence agreement in this regard. Under the terms [...]
Farm machinery and construction equipment maker Escorts on Thursday said it has received requisite approvals for changing its name to Escorts Kubota Ltd. The name change comes in the wake of Japan's Kubota Corporation increasing its stake in Escorts to 44.8 per cent by subscribing to new equity shares and through an open offer to [...]
Global full-stack content platform Pepper Content on Thursday said it has raised USD 14.3 million (Rs 110 crore) in its Series A funding round led by Bessemer Venture Partners. The round also saw the participation from Tanglin Venture Partners, Lightspeed, Titan Capital, and seasoned global operators like Gokul Rajaram, Ritesh Agarwal, Abhinav Sinha, Ankur Nagpal, [...]
The Enforcement Directorate has attached a Cessna jet worth about Rs 31 crore under the anti-money laundering law as part of its probe against former CMD of Bhushan Power and Steel Limited (BPSL) Sanjay Singal and others in connection with alleged bank loan fraud, officials said on Thursday. The aircraft, a Cessna 525 A CJ [...]
Sebi has let off Tata Motors Ltd with a warning to be "more careful" in its future dealings in the securities market, saying any adverse orders passed against the company at this stage may not practically serve any purpose for the events accrued over 18 years ago. Apart from Tata Motors Ltd (TML), the market [...]
