CATEGORIES

Nirav Modi claims he has no funds to pay UK court fines

NIRAV MODI, fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, has claimed that he has no funds and is resorting to borrowing money to pay the court-ordered legal costs amounting to more than £150,000.

Vedanta Resources downgraded by Moody's amid debt concerns

MOODY'S INVESTOR SERVICE has downgraded the corporate family rating (CFR) of London-based Vedanta Resources (VRL) and senior unsecured bonds issued by the company over increasing risk in refinancing debts. The development follows a February report by S&P Global Ratings that the liquidity of VRL hinges on its fundraising abilities and the next few weeks would be crucial for the company.

26% FDI CAP NOT APPLICABLE: OTTS free to stream TV news channel content

News channels already subject to govt's FDI norms

Bombay HC gives relief to taxpayers on recovery proceedings

IN A MOVE that will help taxpayers till the GST Tribunal is set up, the Bombay High Court has said they can get relief from recovery proceedings if they file a declaration of intent to appeal against the order of the revenue authorities.

Rate change unlikely for PPF, Sukanya schemes in Q1FY24

MAY not THE GOVERNMENT increase the interest rates on the popular Public Provident Fund (PPF) and Sukanya Samriddhi Account schemes for the April-June FY24 quarter, keeping it unchanged for 12 quarters in a row.

Larger economic pact with India this year: Australian PM

Modi, Albanese agree on greater cooperation in defence, trade

BANK ENTERS FDIC RECEIVERSHIP: Regulators shut Silicon Valley Bank

SILICON VALLEY BANK collapsed into Federal Deposit Insurance Corp (FDIC) receivership on Friday, after its long-established customer base of tech startups grew worried and yanked deposits.

Tata Motors' engineering unit files papers for IPO

TATA TECHNOLOGIES, A subsidiary of Tata Motors, has filed draft papers with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO), making it the second Tata Group company intending to tap the capital markets in 2023.

IIP growth inches up to 5.2% in Jan

THE INDEX OF industrial production (IIIP) grew 5.2% on year in January, thanks to creditable performance by the mining, electricity and capital goods sectors and a favourable base effect that is yet to wane. However, consumer durables output contracted even on a shrunken base.

HUL names Jawa to succeed Mehta

Incumbent MD CEO to retire after a decade at helm

GROUP SEEKS LENDERS' APPROVAL: Adani may sell 4-5% in Ambuja for $450 mn

THE ADANI GROUP is looking to sell 4-5% stake in Ambuja Cement for about $450 million as part of plans to pare debt and restore investor confidence in the conglomerate.

Sebi to reward informants for providing tips on defaulters

With an aim to recover fines from elusive offenders, capital markets regulator Sebi on Thursday introduced a reward system for up to Rs 20 lakh to informants for sharing information.

Chandresh Nigam leaves Axis MF, B Gopkumar to take charge in May

'House of Debt' author Ashish Gupta joins as CIO

Ram Chandra Poudel is new Nepal president

Before being elected as the President, Ram Chandra Poudel served as Nepal's Deputy Prime Minister, cabinet minister, and Speaker. His election comes amid political turmoil in the country.

Biden unveils $6.9-trn budget, raising capital gains tax to 40%

Aims at cutting deficit nearly $3 trillion over the next decade

Jio unit bags US-based Mimosa for $60 million

Mimosa's acquisition will further accelerate Jio's innovation and leadership in the production of telecom network products.

Rules for invasive gadgets likely under Digital Act, draft in April, says MOS IT

Rules for invasive gadgets likely under Digital India Act; draft to come in April: Chandrasekhar

IndiGo appoints Mark Sutch as chief commercial officer for global cargo business

Mark brings with him 25 years of airline industry experience across different verticals, including extensive cargo experience.

MTNL merger: BSNL unions urge govt to resolve legacy issues first

While the merger process is expected to take some years, the proposal is to merge the operational business of MTNL with BSNL.

Campa returns in three new flavours

Brand launched in three new flavours - Campa Cola, Campa Lemon and Campa Orange

FCI sells 3 MT wheat since Feb 1

0.54 MT sold on Thursday, market prices near MSP.

Reporting norms under PMLA tightened

Definition of non-profit entities expanded

Trai's caller ID faces privacy test

2017 SC RULING, DATA BILL KEY HURDLES

Byju's arm Aakash in talks to raise $250 mn

Byjus acquired Aakash in 2021 in a cash and stock deal worth $950 million, which also gave a large cash exit to Aakash’s key investor Blackstone.

Lenskart nears $500-mn ADIA deal

Abu Dhabi wealth fund investment to value startup at over $4 bn

RBI steps in as short-term rate hits 4-year high

Central bank infusion to pre-empt liquidity tightness, say experts

Sebi tightens norms on buyback via stock exchange route

On the margin requirement for deposits in an escrow account, Sebi said the escrow account shall consist of cash and/or other than the cash.

Bad reviews, decent box office for TJMM

BOLLYWOOD HOPES STAY AFLOAT

Using analytics to check tax evasion

Greater Mumbai civic body uses SAS solution to collect property tax

Loan recovery in MFI sector may improve going ahead: Experts

Loan portfolio of MFIs rose 43.4% y-o-y to ₹1.2 trillion as on December 31, 2022