BUSINESS
Will recall e-scooters if found faulty: Ola's Bhavish Aggarwal
In an interaction with journalists at the state-of-the-art Ola FutureFactory at the Pochampalli town here, Aggarwal said that the company is making sure that each and every scooter goes through stringent tests on all fronts, especially the battery which is an all-crucial part, and the company will not hesitate in recalling batches if any scooter is found to be faulty.
Indonesia's export ban for palm oil may have cascade effect on India's edible oil prices
India imports roughly 80 lakh tonnes of palm oil from Indonesia, Malaysia and Thailand annually. Of the approximate six lakh tonnes per month import, almost three lakh tonnes come from Indonesia, according to Solvent Extractors' Association (SEA). Although the export ban will be effective five days later, it has already created a buzz in the Indian market with traders wary of the impending shortfall and price hike.
Entire industry not tainted, those in trouble 'bad apples': Anarock Chairman
Recently on March 25, the National Company Law Tribunal (NCLT) declared Noida-headquartered realty major Supertech Ltd as insolvent while admitting a plea filed by the Union Bank of India (UBI) over non-payment of its dues. "The cases being referred to are from times before the implementation of regulations such as RERA," Puri said.
The Case Against Ambience: Why Raj Singh Gehlot is in jail
The observation came to light during the recent hearing of the bail plea of Raj Singh Gehlot, Chairman of the Ambience Group of Companies, who was arrested by the ED on charges of allegedly defrauding the banks which granted Rs 810 crore loan. Denying bail to Gehlot, the court also noted that the loan amount disbursed by the bank was siphoned off through certain entities, which have been found to exist only on papers.
Supertech stares at insolvency amid heat of twin-tower demolition
It advertised extensively and the firm was among the top in the real estate sector. Then in 2020 came the Covid pandemic, which turned everything upside down and created an unprecedented crisis for the real estate industry. As things begin to normalise, it seems normalcy has reached beyond the reach of Supertech with the company receiving a twofold blow.
Real estate barons betrayed people's trust, pulled down a growth sector
The real estate landscape in the region suffered multiple blows as leading names of the trade were mired in scandals in the recent past and some of them even landed in jail. This is a story of how real estate barons have played with the system, betrayed people's trust and created multiple crises.
Elon Musk responds to B'luru man who tweeted 'he was not founder of Tesla'
The tech billionaire recently reiterated a few points about Tesla's early days in a set of tweets following a post from Vaibhav Sisinty, the CEO and founder of GrowthSchool, reports Teslarati. Sisinty posted a "reminder" that Musk was not the founder of Tesla, and he simply acquired the company. It did not take long before the Tesla CEO decided to correct the narrative and provide some new insights on Tesla's early days in the process.
Rising oil prices, inflation to hit India's smartphone market in 2022
"Oil prices in India are at an all-time high and wholesale inflation remains elevated, at 14.6 per cent in March. Volatility in foreign exchange rates and higher operational costs due to inflation will, in turn, put further pressure on vendors to maintain profitability," said analyst Sanyam Chaurasia.
Centre mulling policy to promote manufacturing of patented drugs
Addressing a media conference ahead of 7th edition of India Pharmaceutical and Medical Devices Conference 2022, scheduled from April 25 to 27, along with Minister of State for Chemicals and Fertilisers Bhagwanth Khuba, he said that to make India self-reliant in the manufacturing of key materials and products and to reduce dependence on other countries, they identified several APIs and started their manufacturing in the country itself.
Markets close on a negative note
The BSE's 30-scrip Sensex closed at 57,197.15 points, down by 714.53 points or 1.23 per cent. It opened at 57,531.95 points and touched a high of 57,689.86 points and a low of 57,134.72 points. The stocks that gained were Mahindra and Mahindra, Maruti, ITC, Asian Paints, HCL Technologies, and Bharti Airtel.
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