BUSINESS
SEBI fines Venugopal Dhoot, two others on charges of insider trading
In its order, the SEBI has imposed Rs 25 lakh fine each on Dhoot and Electroparts (India) Pvt Ltd (erstwhile Shree Dhoot Trading and Agencies Ltd), and Videocon Realty and Infrastructures Ltd for possible insider trading and volume manipulation. Based on the findings of the investigation, the SEBI initiated adjudication proceedings in the matter and issued show cause notice to all the promoter entities.
IndiGo, American Airlines ink codeshare agreement
In aviation parlance, a codeshare agreement allows airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. Accordingly, the agreement on 29 of IndiGo's domestic routes in India will provide a wider travel option for American Airlines' customers arriving on the carrier's new Bengaluru and Delhi flights.
49 IT companies from Kerala to take part in Dubai GITEX
Besides this, 19 startups from the Kerala Startup Mission will also participate in the event. A majority of the IT companies are from the Technopark in Thiruvananthapuram, while the rest are from the IT parks in Kochi and Kozhikode. Kerala IT Parks CEO John M. Thomas said that the state will organise a special business-to-business meet for expatriate industrialists and entrepreneurs to explore global market opportunities.
Tourism, ease of doing business must be addressed by removing SEIS cap & restoring scrip rates
It has made reference to the SEIS entitlement through duty credit slips through notification no: 29/2015-20, dated September 23, which will bring some relief to the cash-starved tourism enterprises after almost 18 months of severe Covid-19 pandemic. However, it has raised two requests for urgent amendments in the notification.
DHFL case: No bail for wife, daughters of Yes Bank founder Rana Kapoor
In her detailed order rejecting their bail pleas, Justice Bharati Dangre observed that the petitioners are accused of committing serious offences which have "resulted in serious dent to the financial health of the state" and defrauding the public at large. The court further said that such "heinous" offences seem to be on "occurring in plenty", leading to "stultifying overall growth of the nation".
NCLT clears decks for transfer of Future Group retail assets to Reliance Retail
NCLT dismissed Amazon's application on the ground that it is premature and there's no prejudice caused in the conduct of shareholders and creditors meeting to consider the Scheme since it will open Amazon for raising objections when the Scheme is filed for final approval by NCLT after the shareholders and creditors give the go ahead.
Toyota Kirloskar Motor to raise prices from October
According to the auto manufacturer, the hike has been necessitated to partially offset the increase in input costs. "The overall price increase has been tapered down considering the impact on our valued customers. "As a customer-centric company, we remain committed to cater to the ever-evolving needs and requirements of our customers by consciously minimising the impact of rising costs on consumers," it said.
Yogi govt mulls setting up wine producing units
Taking a cue from the Nashik model of wine manufacturing, senior officials of the excise department recently met the wine manufacturers association to discuss ways of establishing a wine industry in Uttar Pradesh. Nashik in Maharashtra has emerged as the centre of Indian wine production.
Centre looks to announce winning bid for Air India next month
Sources indicated that tentatively October 15 has been kept the date for announcing the winning bid for Air India while the financial bids received for the carrier may be opened anytime this week. Centre on September 15 received multiple financial bids for divestment of Air India. Accordingly, Tata Sons and industrialist Ajay Singh in his personal capacity are believed to have submitted financial bids for Air India.
Listed fund inflows rise in August
Of the inflows, $824 million came from non-ETF category. Over the past few months, fund flows were largely dominated by ETFs. According to the brokerage, India-dedicated funds saw outflows of $165 million broken down into $74 million of ETF outflows and $91 million of non-ETF outflows, while GEM (global emerging markets) funds saw inflows of $1.1 billion broken down into $208 million of ETF inflows.
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