BUSINESS
CarTrade Tech acquires OLX Autos' India biz for Rs 537 crore
In a filing with the Bombay Stock Exchange (BSE), CarTrade Tech said it will buy 100 per cent of Sobek's shares and is making the purchase "to provide synergistic benefits to the existing businesses of CarTrade Tech" CarTrade Tech said the acquisition is in furtherance of the strategic objectives of the company to undertake investments that provide synergistic benefits to its existing businesses.
Adani-Hindenburg row: SEBI files observations on SC-appointed Expert Committee in apex court
In its application, the market regulator has sought "appropriate orders" from the apex court when the latter hears the case on Tuesday. Notably, all the offences under the SEBI Act (except offence under section 11C (6), SCRA Act and Depositories Act), the SEBI can initiate prosecution without any period of limitation.
Direct tax collections rise 15% to Rs 5.17 lakh crore in 2023-24
Direct tax collection, net of refunds, stood at Rs. 4.75 lakh crore which was 15.87 per cent higher than the net collections for the corresponding period of last year. This collection is 26.05 per cent of the total budget estimates of direct taxes for 2023-24.
Expression of Interest sought for Go Airlines; will Wadia Group bid for it?
Top officials of Go Airlines had told IANS that the Wadia Group is interested in continuing with the airline business. The Wadia Group had approached the National Company Law Tribunal (NCLT) voluntarily to protect their leased planes from being repossessed in May 2023.
SAT refuses to stay SEBI order on Subhash Chandra, Puneet Goenka in Zee Enterprises matter
SEBI had pointed out in its reply in the matter of Zee Enterprises to SAT that Chairman Emeritus and Managing Director and CEO of this large listed company have diverted public money to private entities.Subhash Chandra and Punit Goenka had moved SAT against the SEBI order.
Foxconn withdraws from JV for chip manufacture, Vedanta to go ahead
Foxconn was supposed to execute a $19.5 billion semiconductor joint venture with metals to oil conglomerate Vedanta. Foxconn and Vendanta had signed a MoU in 2022 to establish semiconductor and display production parts in Gujarat, the home state of PM Modi.
C, say sources
The Registrar of Companies (ROC) Bengaluru merely conducted a preliminary inquiry under section 206 of the Companies Act, 2013, which empowers the registrar to call for any further information, explanation, or document related to a company.
Kal Airlines refutes claims of settlement talks with SpiceJet
The Kal airlines, in a statement, said that it has come to its knowledge that a statement purportedly issued by the spokesperson of SpiceJet Ltd has been circulating among certain sections of the media that SpiceJet Ltd is in talks with Kalani Pvt. Ltd. for an amicable settlement.
India to surpass US to become world's 2nd largest economy by 2075: Report
India is presently the world's fifth-largest economy, trailing Germany, Japan, China and the US. "Over the next two decades, the dependency ratio of India will be one of the lowest among regional economies," said Santanu Sengupta, Goldman Sachs Research's India economist.
Brokers fear industry turmoil after SEBI’s harsh retrospective order on IIFL Securities
Though, Securities Appellate Tribunal (SAT) has suspended the order, the harsh order by SEBI has created panic among industry players, who fear that orders of this magnitude is coming for them that will destroy the industry. A promoter of a large broking firm said: “The SEBI order against IIFL seems to be a clear-cut instance of punishment grossly exceeding the violation and retrospective in nature.”
Don't Miss
Advertisement