Despite the issue being flagged in many quarters, a large number of vacancies in the company law tribunals remains unfilled, resulting in a slowing of the process of insolvency resolution. This was highlighted by the Supreme Court while ordering the liquidation of grounded Jet Airways. “One another serious issue pertaining to the functioning of the
RITES Ltd, the engineering consultancy arm of Indian Railways, is aiming to increase the ratio of export in total revenue from under 1% now to 20-25% in the next three years and sustain it at that level, chairman and managing director Rahul Mithal told FE. “In the past 9-10 months, we’ve received orders worth Rs
India has the option to take up the matter of sanctions on 24 companies by the US with the World Trade Organisation (WTO) or International Court of Justice (ICJ) but is is more likely to engage in direct diplomacy with Washington to address its concerns, according to a report. Th country may seek exemptions for
While residential property sales saw a decline in Q3 of 2024, office leasing is going strong in top cities of the country. Anshul Jain, chief executive, India, Southeast Asia and APAC tenant representation, Cushman & Wakefield, shares his outlook for different property segments in an interaction with Raghavendra Kamath. What is the outlook on office
The ministry of coal has terminated the coal block development and production agreement on the Banai- Bhalumunda coal block with JSW Steel due to non-payment of performance security, the termination order available on the ministry’s website showed. As a result, the Rs 100-crore bid security submitted by the Sajjan Jindal-led steelmaker stands forfeited as damages
Vedanta Limited on Friday released its fiscal second quarter earnings report with profit at Rs 5,603 crore in comparison to a loss of Rs 915 crore posted during the corresponding quarter of FY24. It reported revenue from operations at Rs 37,171 crore, down 3.6 per cent as against Rs 38,546 crore during the second quarter
An investigation by India’s antitrust body found food delivery giants Zomato and SoftBank-backed Swiggy breached competition laws, with their business practices favouring restaurant chains listed on their platforms, documents show. Zomato entered into “exclusivity contracts” with partners in return for lower commissions, while Swiggy guaranteed business growth to certain players if they listed exclusively on
Aditya Birla Fashion and Retail Ltd (ABFRL) released its fiscal second quarter earnings with a loss of Rs 214.70 crore in comparison to a loss of Rs 200.34 crore recorded during the corresponding quarter of previous year. It posted revenue from operations at Rs 3,643.86 crore, registering a growth of 12.9 per cent as against
Fast-moving consumer goods (FMCG) companies are asking for a separate law to govern beauty and personal care (BPC) products, saying current regulations under the Drugs and Cosmetics Act 1940 impede growth. At present, the making of soaps, skin care, hair care, oral care and cosmetic products, much like drugs, is regulated under a system of
E-commerce major, Amazon, is exploring the possibility of spinning off its India operations and listing it, according to industry sources. The company, which is the second largest player in the e-commerce sector, behind Flipkart, has initiated preliminary talks with investment banks to assess the feasibility of such a move, sources added. According to a report
Budget carrier SpiceJet on Monday announced that its founder and promoter, Ajay Singh, through Spice Healthcare, a promoter group entity, will infuse `294.09 crore into the airline. This would be done through the conversion of 131.4 million warrants into an equal number of equity shares. This strategic move will increase the consolidated shareholding of the
Quick commerce platform Zepto will start selling Apple products, including the latest iPhone 16e, on its platform this week, according to people with direct knowledge of the development. The assortment will have iPads, Apple Watches and AirPods, among other accessories. This comes just two weeks after its rival Blinkit announced it would start delivering other
The planned imposition of the claimed reciprocal tariffs on imports by the Donald Trump administration will impact Tata Motors and Samvardhana Motherson International (SAMIL), research and rating agency Moody’s said on Monday. Vehicle exports to the US are limited at around 3% of total exports for India. However, auto parts suppliers and luxury carmakers selling