NEW DELHI: Mutual funds have added a whopping Rs 3.15 lakh crore to their asset base in 2019 on the back of robust inflows in debt schemes and measures taken by regulator Sebi for boosting investor confidence. The asset under management (AUM) of the industry rose by over 13 per cent (Rs 3.15 lakh crore) … Read more
With an intention to reduce non-banks business risks and focus on boosting credit growth, Reserve Bank of India (RBI) has asked banks to reduce their stake in insurance companies to 30%. The limit is 50% for NBFCs holding stakes in the insurance companies. Banks may get 3-5 years to implement this rule As per the … Read more
With three Indian co-founders, cloud-computing firm Nutanix, which opened to a blockbuster initial public offering on Nasdaq three years ago, is looking to bet big on government clients in India, said a senior executive. Nutanix is the leader in the hyperconverged infrastructure (HCI) business, and sees significant opportunity in “state and Centre and defence” areas … Read more
KEC International (KEC) is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has presence in the verticals of Power Transmission and Distribution, Railways, Solar, Civil, Smart Infrastructure and Cables. The Company is currently executing infrastructure projects in 30 countries and has a footprint in 100+ countries (includes EPC & Supply). It is the … Read more
How do you unscramble an egg called Tata Sons? The second law of thermodynamics says orderly things gradually turn more chaotic, and there’s no going back, no separating yokes from whites. But the appeals judge of India’s corporate law arbiter thinks he can reverse time. Or so it would appear from his order declaring that … Read more
Mystery around Yes Bank’s future fails to die down… Over last few months everyone including investors, analysts, consumers and competitors are equally confused as to the future of Yes Bank. Lender’s capital raising plan is also passing through uncertainties and there are speculations on whether Yes Bank is an acquisition target, which has been denied … Read more
Forget Black Friday or Cyber Monday. Travis Kalanick is having the sale of the century. The Uber Technologies Inc. co-founder unloaded $350 million more of stock this month, bringing his proceeds to more than $2.1 billion since a share lockup ended November 6. The 43-year-old’s remaining stake in the ride-hailing company now constitutes about a … Read more
Citing regular board approvals for various inter-corporate loans, former CG Power Industrial Solutions’ non-executive chairman Gautam Thapar has refuted allegations of fund misuse amid alleged governance lapses coming under the regulatory scanner, according to documents submitted by him to the government. In a 36-page submission to the corporate affairs ministry early November, Thapar, who was … Read more
Previously, on SEBI instructions the depositories had transferred back securities worth Rs 2000 crore to their rightful owners. The lenders (Bajaj Finance, ICICI Bank, HDFC Bank, IndusInd Bank) had then approached the Securities Appellate Tribunal (SAT) challenging the transfer as the subject securities were pledged with them by Karvy. SAT further directed the lenders to … Read more