Former chairman and managing director of Religare Enterprises Limited (REL) Sunil Godhwani has been arrested in connection with a 2020 case related to fraud worth Rs 800 crore, police said on Tuesday. Godhwani, who was already in judicial custody in a case registered by the Economic Offences Wing of the Delhi Police for allegedly misappropriating [...]
Markets regulator Sebi has ordered attachment of bank accounts as well as share and mutual fund holdings of Rose Valley Hotels and Entertainment Ltd and its then directors to recover investors' dues totalling over Rs 1,000 crore. This recovery proceeding has been initiated against them to recover Rs 1,006.70 crore collected by the company through [...]
Ace cricketer Mahendra Singh Dhoni has picked up stake in drone start-up Garuda Aerospace, the company said on Tuesday. Garuda Aerospace is promoted by its founder-CEO Agnishwar Jayaprakash and has over 300 drones and 500 pilots operating in 26 cities. Prime Minister Narendra Modi had unveiled drone manufacturing facilities by the company recently. Dhoni was [...]
Describing winning the bid for acquiring a majority stake in Odisha-based Neelachal Ispat Nigam Ltd (NINL) as "crucial" for the company's growth trajectory, Tata Steel on Tuesday said it provides enablers to go well beyond the 40 MTPA (million tonne per annum) target. Tata Steel arm - Tata Steel Long Products (TSLP)- had in January [...]
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery [...]
Essar Oil and Gas Exploration and Production Ltd (EOGEPL) on Tuesday said coal seam gas (CBM) output from its Raniganj East block in West Bengal has crossed 0.8 million standard cubic meters per day and is on track to triple the production in 24-30 months. The company was previously handicapped by a lack of a [...]
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The [...]
Investment management firm Anicut Capital on Tuesday said it has raised Rs 110 crore to acquire equity stakes in startups across sectors. This is the first close for the Rs 500-crore Anicut Opportunities Fund I. The fund will be deployed to take stakes in up to 15 growth stage companies, as per an official statement. [...]
Anand Mahindra, the eclectic chairman of the Mahindra Group makes rounds every now and then with his acclaiming but sometimes critical tweets. Similarly, the shares of the Mahindra Group companies have been in the limelight due to their impressive Q4 results. Here are three companies which have their ex-dividend dates approaching in the near future. [...]
Mitsubishi Electric Corporation on Tuesday said it will invest about Rs 220 crore (3.1 billion yen) in its Indian subsidiary to set up a new factory in Maharashtra. The new factory will be set up near Pune in Maharashtra. Its subsidiary Mitsubishi Electric India will manufacture inverters and other factory automation (FA) control system products, [...]
