Corporate News

Totally disillusioned with your lackadaisical attitude: Kishore Biyani to Amazon

Totally disillusioned with your lackadaisical attitude: Kishore Biyani to Amazon

New Delhi: Kishore Biyani, Future Coupons and Future Corporate Resources have said that totally disillusioned and fed up with Amazon's lackadaisical attitude, they were left with no option but to accept the offer from Reliance.This communication to Amazon is a response to their notices and addressed...

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Centre mulls 'bad bank', PSB privatisation for Budget FY22

Centre mulls 'bad bank', PSB privatisation for Budget FY22

New Delhi: The Union Government is considering several policy measures for the Indian banking sector, including setting up of a bad bank and privatisation of few state-run banks.A bad bank is a bank set up to buy the bad loans and other illiquid holdings of another financial institution. Even though...

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Hemisphere Properties' prime real estate to be monetised for Rs 19,000 cr

Hemisphere Properties' prime real estate to be monetised for Rs 19,000 cr

New Delhi: Hemisphere Properties, the company demerged with the surplus land of VSNL (now Tata Communications Ltd), has announced that the value of its land parcels which can be monetised is to the tune of Rs 19,000 crore based on current circle rate prices.At its annual general meeting held on Tues...

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Future Retail scheme not impeded, Amazon contravened FDI, FEMA rules

Future Retail scheme not impeded, Amazon contravened FDI, FEMA rules

New Delhi: A Delhi High Court verdict clearly shows that the Future Retail Limited (FRL) board resolution of selling out to Reliance has been found to be fine and it is therefore aligned to the company law and other relevant provisions.The takeaway from the verdict is that it seems there are no impe...

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Wipro to takeover IT operations of German firm in $700m deal

Wipro to takeover IT operations of German firm in $700m deal

Bengaluru: Global software major Wipro on Tuesday announced that its is taking over the IT operations of German food services firm Metro AG in a $700 million (Rs 5,171 crore) deal."As a part of the transaction, Wipro will take over the IT units of Metro AG - Metro-Nom - in Germany and Metro Systems ...

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Air India employees to invest 1 lakh each to get Maharajah out of his misery

Air India employees to invest 1 lakh each to get Maharajah out of his misery

New Delhi: The employees of debt-laden Air India seem to have promised themselves of bringing the ailing national air carrier to life. A group of 209 employees from Air India have reportedly bid for managing the national carrier.  Each employee is expected to contribute Rs 1 lakh for the bid. T...

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German power equipment maker Senvion sells its India operations

German power equipment maker Senvion sells its India operations

New Delhi: Power equipment maker Senvion GmbH has entered into contractual agreements to sell 100 per cent of its Indian operations, Senvion India, to Dubai-based fund GREDHCL (Global Renewable Energy Development Holding Company Limited).Senvion had previously ringfenced the Senvion India business, ...

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63 moons to challenge SEBI order on STP Gate Services

63 moons to challenge SEBI order on STP Gate Services

New Delhi: 63 moons technologies on Friday said it would challenge the SEBI order, which rejected its renewal application for providing STP Gate Services, and take appropriate legal action in the higher judiciary forum.Expressing disbelief at the SEBI order rejecting the approval for providing STP G...

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Vistaar Finance raises $ 30mn from Dutch bank FMO

Vistaar Finance raises $ 30mn from Dutch bank FMO

Bengaluru: Leading MSME lender Vistaar Finance on Tuesday said that it has raised $30 million (approximately Rs 221 crore) External Commercial Borrowing (ECB) from the Dutch entrepreneurial development bank FMO.This is the second line of funding from FMO to Bengaluru-based Vistaar which has now rais...

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UFlex: Making plastic look healthy, wealthy and wise

UFlex: Making plastic look healthy, wealthy and wise

It’s one thing to talk about how plastic is environmentally degrading and the other thing to remain in the business of sustainable plastic making significant returns. For UFlex Group, plastic is not a bad word, but a word that has epitomized its over three decades of existence.  The desi firm w...

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