Indian corporates in general consider shareholders approvals to be a mere formality. With their direct and indirect control over the ownership and the consequent control over the voting, many try to get away with questionable resolutions suiting promoters’ own interests. However, with increasing shareholders’ awareness and activism, it’s becoming increasingly difficult for many of them. … Read more
The Central Consumer Protection Authority (CCPA) on Monday barred hotels and restaurants from levying service charge automatically or by default in bills. It will be completely up to the customers to pay any amount as tip and eateries cannot directly or indirectly levy any charge more than the rate of food items. “Hotels, restaurants can’t … Read more
On Saturday i.e., July 2, 2022 as per reports only 55% of Indigo’s flights could operate on time. Reason – Significant number of cabin crew members took sick leave. As per industry sources – majority of IndiGo’s cabin crew members who took sick leave had gone for Air India’s recruitment drive. This event should not … Read more
Chinese automaker Great Wall Motor has been planning to enter the Indian market since 2020 but now becomes one of the biggest casualties of New Delhi’s increased scrutiny of investments from Beijing. China’s Great Wall Motor has shelved plans to invest $1 billion in India and laid off all employees at its operations after failing … Read more
Terming cryptocurrencies a “clear danger”, Reserve Bank of India (RBI) governor Shaktikanta Das on Thursday said anything that derives value based on make-believe, without any underlying, is just speculation under a sophisticated name. “While technology has supported the reach of the financial sector and its benefits must be fully harnessed, its potential to disrupt financial … Read more
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
How the Reliance (RIL) empire gets divided between the three siblings has been a hotly debated topic over the last few years. Many attribute the unprecedented fund raising of about Rs 1.65 lakh crore in 2020 to be the 1st step in that direction. Funds were raised from a multitude of reputed global strategic and … Read more
TTK Healthcare Limited (THL) has launched sexual pleasure ecommerce platform Love Depot. There are already some start-ups active in this field but given the regulatory uncertainty and social taboos associated with the subject, not much has been done so far. In terms of potential – I doubt anyone will have concerns. I guess the key … Read more