Company law tribunals have 14 days to admit or reject an insolvency case, but official data shows that not one application was admitted in this period. A discussion paper by the Insolvency and Bankruptcy Board of India lays down the time taken for admission of Section 9 applications (to start insolvency proceedings) in the last … Read more
The Union Cabinet on Wednesday approved deregulation of sale of domestically produced crude oil in a bid to remove irregularities and boost revenue. Briefing the media on the decisions take by the Cabinet, minister Anurag Thakur said that the move will ensure marketing freedom for all exploration and production (E&P) companies. The provision will come … Read more
Warren Buffett’s Berkshire Hathaway plowed another $44 million into Occidental Petroleum, boosting its bet on the oil-and-gas firm to about $9 billion. With the purchase of another 794,389 shares of Occidental Petroleum Corp for about $55.40 each, the conglomerate now holds nearly 16.4% stake in the Houston, Texas-based oil firm. In a regulatory filing, Berkshire … Read more
Airbnb is making permanent its ban on parties at homes listed on the site for short-term rentals. The San Francisco company believes the ban has worked, saying Tuesday that reports of parties at listed properties have dropped 44% from a year ago. More than 6,600 guests were suspended last year for related violations, Airbnb said. … Read more
Pharma company Cipla has agreed to acquire an additional stake for nearly Rs 26 crore in digital tech company GoApptiv Private to raise its shareholding to 22.02 per cent, the company said on Monday. The investment will be made in equity shares and Compulsorily Convertible Preference Shares and is likely to be completed within 30 … Read more
Ports-to-energy conglomerate Adani Group has forayed into copper manufacturing with tying up of finances from public sector lenders for a 1 million tonnes a year unit at Mundra in Gujarat. “Kutch Copper Ltd (KCL), a subsidiary of Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for production of refined copper with … Read more
Airlines will watch for passenger response during the lean months of July-September Airlines will watch for passenger response during the lean months of July-September With the rise in fuel prices, domestic and international airfares have witnessed surge by up to 50% in the past few months, according to data from online portals. A ticket for … Read more
The five million smart meter tender issued by Reliance Infrastructure’s BSES Limited has received interest from close to 18 companies, company executives have said. Among the firms that have come forward during the Expression of interest (EoI) round are leading Indian companies such as HPL, Secure Meters, Adani Transmission, L&T. Finland-based Wirepas, EDF France, Enel … Read more
Cyber-security researchers have unearthed a new enterprise-grade Android spyware called ‘Hermit’ that is being used by the governments via SMS messages to target high-profile people like business executives, human rights activists, journalists, academics and government officials. The team at cyber-security company Lookout Threat Lab uncovered the ‘surveillanceware’ that was used by the government of Kazakhstan … Read more