The Karnataka High Court on Monday extended the stay on the Enforcement Directorate's (ED) order of freezing Rs 5,551 crore in the bank accounts of Xiaomi India. Justice S G Pandit extended the stay till June 1, with the hearing of the case posted to that day. The ED froze Xiaomi's accounts on April 29 [...]

Maruti Suzuki India (MSI) on Monday said it will acquire an equity stake of 12.09 per cent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their [...]

Tata Power and Tata Motors have collaborated to develop a 7 MWp solar rooftop project at the latter's passenger vehicle plant in Chikhali, Pune. This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which 10 MWp has already been installed, a company statement said. The [...]

Digital payments firm Paytm expects that the issue of RBI ban on its subsidiary Paytm Payments Bank to onboard new customers would be resolved in 3-5 months after the clearance by the banking regulator to the processes being put in place. Paytm group chief financial officer Madhur Deora told PTI on Sunday that the RBI [...]

The board of IT services major Infosys has approved the reappointment of Salil Parekh as Chief Executive Officer (CEO) and Managing Director of the company for five more years, till March 31, 2027, according to a regulatory filing. This is based on the recommendations of the Nomination and Remuneration Committee (NRC) and subject to the [...]

As the unrelenting heat wave sweeps across major parts of the country, demand for cooling products such as refrigerators, air conditioners, coolers and fans has shot up and sales have more than doubled this summer season, according to a report by Tata group consumer electronics goods retailer Croma. As per Croma's 'Unboxed Summer 2022' report, [...]

Digital financial services firm One97 Communications, which operates under Paytm brand, on Saturday said it has formed a joint venture general insurance company in which it has committed to invest Rs 950 crore over a period of 10 years. The proposal to set up joint venture firm Paytm General Insurance Limited (PGIL) was approved by [...]

Indraprastha Gas Ltd, the nation's largest CNG retailer, will invest about Rs 8,000 crore in the next five years to expand the city gas network of CNG stations and pipelines, taking environment-friendly fuel to household kitchens and factories, the company's Managing Director Sanjay Kumar said on Friday. Indraprastha Gas Ltd (IGL) currently has major operations [...]

Hackers and fraudulent customers have stolen Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a police complaint lodged by the payment gateway company. In his complaint to the South East Cyber Crime Cell lodged on May 16, Razorpay's Head of Legal Disputes and [...]

Markets regulator Sebi has declared the highest bidder for a land parcel belonging to Ramel Industries for a bid value of Rs 4.3 crore, as part of its efforts to recover investors' money. The bidding took place on February 24 for the land parcel in West Bengal, the Securities and Exchange Board of India (Sebi) [...]

Parle Agro, a beverage company which owns popular brands such as Frooti and Appy, has urged the government to extend the deadline to implement the ban on plastic straws for the next six months. The government's ban on single-use plastics, including plastic straw, is going to be effective from July 1, 2022. Terming it as [...]

Reserve Bank of India (RBI) on Friday said its board has approved a dividend payment of Rs 30,307 crore to the government for the fiscal ended March 2022. The board approved the transfer of Rs 30,307 crore as surplus to the central government for the accounting year 2021-22 while deciding to maintain the Contingency Risk [...]

Consumer protection regulator CCPA on Friday said it has issued notices to cab aggregators Ola and Uber for unfair trade practices and violation of consumer rights. The Central Consumer Protection Authority (CCPA) has given 15-days time for these two companies to reply to the notices. "We have issued notices to both Ola and Uber. Most [...]

Ride-hailing app Uber India on Thursday said it has, over the past few weeks, raised fares to cushion drivers from the impact of rising fuel prices across many cities in India. The company said it always strives to make driving with Uber a viable and attractive option for drivers, and added that "the recent hike [...]

With an aim to provide a holistic picture of all borrowings and the status of encumbrance on the assets of listed entities, capital markets regulator Sebi on Thursday came out with a new format for disclosing security cover to stock exchange and debenture trustee. Also, the regulator has put in place obligations of listed entity [...]

Regulator IRDAI on Thursday asked motor insurance providers to discontinue advertisements showing services, like free pick up and drop of vehicle, which are not part of the insurance cover. General insurance companies enter into service agreements with motor workshops/garages for the purpose of providing motor insurance claim services for repair of accident vehicles. IRDAI said [...]

India Advantage Fund S4 I on Thursday offloaded 18.11 lakh shares of Go Fashion (India) Ltd, which owns women's clothing brand Go Colors, for Rs 190 crore through an open market transaction. According to bulk deal data available with BSE, ICICI Venture through its fourth private equity fund -- India Advantage Fund S4 I sold [...]

Akasa Air's launch of services is likely to be delayed further as the airline is expected to receive its first aircraft only in June or July, according to a senior DGCA official. The carrier, backed by ace investor Rakesh Jhunjhunwala, initially planned to start operations in June and then postponed the plan to July. A [...]

Bajaj Allianz Life Insurance on Thursday said it has declared a bonus of Rs 1,070 crore for its policyholders in the fiscal ended March 2022. The company has announced the bonus for the 21st consecutive year. The life insurer said those having participating policies which are in-force for the full sum assured as of March [...]

Within a fortnight of laying off 200 employees, edtech firm Vendantu has further fired 424 employees from the company citing tough external environment and fear of recession. Vedantu, after laying off 200 employees, had shared it's plan of hiring 1,000 employees this year. "Today I am writing about one of the toughest decisions we had [...]

Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May [...]