The country's largest mortgage lender HDFC on Thursday said it has invoked 50 lakh pledged shares of Ansal Housing as part of recovery of its outstanding dues from the developer. Ansal Housing is engaged in the business of construction and development of residential townships and commercial complexes. "For the purpose of recovery of part outstanding [...]

The CBI has filed a charge sheet against Hanung Toys and Textiles Ltd and others including its promoters and directors for allegedly defrauding a consortium of 12 banks under Punjab National Bank to the tune of Rs 2040.63 crore, officials said Thursday. Besides promoters and directors Ashok Kumar Bansal and Anju Bansal, the agency has [...]

The recent lockdowns in China have adversely impacted Tata Motors' supply chains as its suppliers are unable to deliver products and it could be forced to stop production in some or all of its plants if it is unable to ensure the supply of critical parts from the country, according to the company's annual report [...]

Reliance Industries-backed Viacom18 on Wednesday said its platforms have become one of the largest sporting destinations in India following the acquisition of digital rights of IPL for the seasons from 2023 to 2027. On Tuesday, BCCI had announced that India digital rights for IPL were acquired for Rs 20,500 crore by Viacom18, which also won [...]

Agrochemical major UPL Ltd on Wednesday said it has acquired 100 per cent stake in Punjab-based Kudos Chemie through its wholly-owned subsidiary in a bankruptcy resolution process. The National Company Law Tribunal (NCLT) Chandigarh bench gave its approval to UPL's resolution plan submitted under the Insolvency and Bankruptcy Code (IBC) for revival of Kudos Chemie, [...]

Indian Overseas Bank (IOB) on Wednesday said its board has approved raising of up to Rs 1,000 crore equity capital through issuance of shares via various modes. The board approved the capital plan of the bank for 2022-23, IOB said in a regulatory filing. It approved issuance of equity shares to a maximum of Rs [...]

Capital markets regulator Sebi on Wednesday sent notices to stock exchanges BSE and NSE asking them to pay over Rs 5 crore in a case related to Karvy Stock Broking Ltd (KSBL) and warned of attachment of assets and bank accounts if they fail to make the payment within 15 days. The notices came after [...]

The Adani Group has gained the most in terms of value in the six months to April 2022, with a 88.1 per cent jump to Rs 17.6 lakh crore, a report said on Wednesday. In comparison, billionaire Mukesh Ambani's Reliance Industries -- which houses nearly all its ventures -- saw a 13.4 per cent rise [...]

Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources. The company is said to be in talks with officials of several state governments, including Andhra Pradesh, Maharashtra, Gujarat, Telangana and Karnataka, to set up an additional manufacturing [...]

PNB Housing Finance on Tuesday said its board has approved raising up to Rs 2,000 crore by issuing bonds on a private placement basis. The housing finance company, promoted by the city-headquartered Punjab National Bank (PNB), was looking to raise equity capital worth Rs 4,000 crore and struck a deal with joint-venture partner Carlyle Group, [...]

The country's largest lender SBI has raised its deposit and lending rates following the Reserve Bank's repo rate hike last week. SBI said interest rates have been raised by 0.20 per cent on domestic term deposits of below Rs 2 crore for select tenors. The revised interest rates on retail domestic term deposits (below Rs [...]

Competition Commission of India on Tuesday said it has approved the proposed acquisition of the entire shareholding of AirAsia India Ltd by Air India Ltd. The proposed combination envisages the acquisition of the entire equity share capital of AirAsia (India) Pvt Ltd by Air India Ltd (AIL), an indirect wholly-owned subsidiary of Tata Sons Pvt [...]

Bajaj Auto on Tuesday said Shekhar Bajaj has tendered his resignation as a non-executive director of the company due to health reasons. The resignation is with effect from June 30, 2022, the company said in a regulatory filing. Shekhar Bajaj is the chairman and managing director of Bajaj Electricals since 1994. PTI

Shriram City Union Finance on Tuesday said it will raise up to Rs 300 crore by issuing debt securities on a private placement basis. The banking and securities management committee of the company at its meeting held on June 14 has approved issuance of principal-protected market-linked non-convertible debentures (PP-MLD) for an amount of Rs 50 [...]

The stock of Bajaj Auto on Tuesday declined by 5 per cent after the company said its board has deferred a decision on its proposed share buyback. Shares of the company tanked 5.06 per cent to settle at Rs 3,684.40 apiece on the BSE. During the day, it tumbled 7.13 per cent to Rs 3,603.75. [...]

LIC has increased its stake in non-banking finance company Capri Global Capital, to over 7 per cent from 5 per cent earlier, during the February-June period with an investment of over Rs 221 crore, the state-owned insurer said on Tuesday. LIC's shareholding in Capri Global Capital has increased from 88,58,348 equity shares to 1,24,00,000 equity [...]

Zydus Lifesciences on Tuesday said its chairman Pankaj R Patel has been appointed as a part time non-official director in the central board of the Reserve Bank of India (RBl). The Appointments Committee of the Cabinet (ACC) has approved the proposal of appointment of Patel for a period of four years from the date of [...]

Direct-to-consumer firm Mensa Brands on Tuesday said it has acquired the wearables brand Pebble for an undisclosed sum, marking its foray into the smart wearables segment. This will strengthen Pebble's online footprint and amplify its marketing and branding efforts to become a household digital brand, Mensa Brands said in a statement. "In the fast growing [...]

Volvo Car India on Tuesday said it has set up solar power panels at community and primary health centres in Haryana and Uttar Pradesh. The automaker has set up the panels at Jewar in Gautam Buddh Nagar district in UP, Kheri Kalan in Faridabad and Bhorikalan and Bhangrola in Gurugram districts of Haryana. The company [...]

PTI French energy supermajor TotalEnergies will acquire a 25 per cent stake in Adani Group's green hydrogen producing venture, the company said on Tuesday. In a statement, Adani group said it has entered into a new partnership with the French firm to jointly create the world’s largest green hydrogen ecosystem. "In this strategic alliance, TotalEnergies [...]

Srei Equipment Finance on Monday said its administrator has received a report from the transaction auditor about certain fraud transactions in FY20 and FY21, bearing a monetary impact of over Rs 3,025 crore on the Srei group. The Reserve Bank had, in early October last year, superseded the boards of Srei Infrastructure Finance Limited (SIFL) [...]

Zydus Lifesciences on Monday said its Rs 750 crore-share buyback offer will commence on June 23 and close on July 6. The drug firm, earlier known as Cadila Healthcare, has fixed July 15, 2022 as the last date for the settlement of bids on stock exchanges which may even happen early, as per a regulatory [...]

Foreign lender HSBC India on Monday announced that it will lend USD 250 million to startups in the country. The bank did not specify the timeframe for disbursal of the amount The lending will be done to high-growth, tech-led startups in the third largest startup ecosystem in the world, the lender said in a statement. [...]

Crompton Greaves Consumer Electricals Ltd on Monday said it plans to raise long-term funds up to Rs 925 crore through the issuance of non-convertible debentures on a private placement basis. The board of directors of the company at its meeting held on Monday also approved the buyback of rated, listed commercial paper aggregating to up [...]

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 [...]