The National Company Law Tribunal (NCLT) has approved the Rs 201.89 crore resolution plan proposed by Kalyan group firm Kalyan Toll Infrastructure for the Lanco group’s Bengaluru-Hoskote-Mulbagal toll road project.
Tech companies’ Covid war rooms are working around the clock as the number of distress calls from employees seeking help — many of whom have been infected by the coronavirus — have increased.
Vaccination of at least half of the country’s population is key for the revival of the pandemic-hit economy, Rajiv Kumar, vice-chairman of government think tank NITI Aayog, said at a webinar organised by industry body MCCI. “We have the capability of vaccinating them in the next few months,” Kumar said.
Insurance Regulator and Development Authority of India (Irdai) has told insurers to communicate their cashless approvals for Covid-19 claims within an hour of submission of the request by the hospital and ensure that patients get discharged soon.
Passenger vehicle sales more than doubled from a year ago, rising to 291,000 units in March, according to SIAM data. Two-wheeler sales were at 1.5 million units, compared with 867,000 last year.
Edtech major Byju’s is set to be the most valued startup in India amid the pandemic, toppling SoftBank- and Alibaba-backed Paytm, which is valued at $16 billion. Byju’s is in advanced stages of talks to raise another $150-200 million from UBS Group, after which it is expected to be valued at around $16.5 billion, a person aware of the matter said.
Markets regulator Sebi on Wednesday said that each fund house should pay at least 20% of salary, perks, non-cash compensation net of income tax, NPS, PPF, etc, to their top executives in units of the mutual fund (MF) schemes they’re working for.
Soft drink and ice cream companies that were beginning to cash in on improving rural sales have suddenly found themselves staring at a unique roadblock: Gram panchayats.
Days after the oil ministry sought a response to a plan to carve up ONGC’s functional sections into a separate company and sell stake in major producing fields, India's largest state-run explorer has said it is eyeing foreign partnerships for prospecting in unexplored basins but critical issues needed to be addressed before looking at changing the company’s structure.
Markets regulator Sebi on Wednesday penalised edtech company Aptech Rs 1 crore for non-disclosure of price sensitive information in a case dating back to mid-2016. The order relates to Aptech’s entry into the pre-school segment as a business venture and the company’s failure to impose a no-trading rule by its insiders when the negotiations were on.
As coronavirus infections rip through India, companies — both big and startups — are pitching in with everything from setting up makeshift hospitals to airlifting oxygen concentrators to making donations to procure medicines and ambulances.
After delivering strong March quarter results, Apple has said that the company is very pleased with its growth story in India, as iPhone sales, along with iPads and Macs, continue to rise in the country.
Group chairman emeritus Ratan Tata’s half-brother Noel Tata, who is MD at Tata International, will be relinquishing his executive responsibilities at the company this November when he turns 65. He, however, will continue as the non-executive chairman of Trent, Voltas and Tata Investment Corporation.
The Indian Banks’ Association (IBA) has identified 102 corporate bad loans, totalling to Rs 2 lakh crore, where the amount outstanding in each is over Rs 500 crore. They include loans in a variety of industries.
The US has begun consultations on easing some of the patent and other intellectual property rights rules for Covid vaccines and drugs as the issue was flagged by PM Narendra Modi during his interaction with American president Joe Biden on Monday.
Further, it said the gross domestic product (GDP) of South Asia is expected to rebound to 9.5 % this year, following a contraction of 6 % in 2020, before moderating to 6.6 % next year (2022), it said.
Food delivery startup Zomato, backed by Ant Group, has filed for an initial public offering of up to Rs 8,250 crore ($1.11 billion), draft papers submitted to the market regulator showed on Wednesday.
The Asian Development Bank (ADB) projects India’s gross domestic product (GDP) will rebound strongly by 11.0% in fiscal year (FY) 2021-22 ending on March 31, 2022, due to continued economic recovery boosted by increased public investment, vaccine rollout, and a surge in domestic demand. The forecast assumes that vaccines are deployed extensively across the country.
The White House is considering options for maximizing global production and supply of Covid-19 vaccines at the lowest cost, including backing a proposed waiver of intellectual property rights, but no decision has been made, press secretary Jen Psaki said on Tuesday.
In a big show of solidarity, numerous American businesses have stepped up to join India’s fight against the unprecedented pandemic crisis. The US Chamber of Commerce and CEOs from over 40 companies have set up a US public-private partnership called Global Task Force on Pandemic Response: Mobilising for India, to provide India with critical medical supplies.
The family of deceased Samsung Electronics chairman Lee Kun-hee said on Wednesday it will pay more than 12 trillion won ($10.78 billion) in inheritance taxes for the estate of the late patriarch.
Australia on Tuesday announced a temporary ban on direct passenger flights from India following a massive surge in coronavirus infections. Prime Minister Scott Morrison said the suspension would remain in place until at least May 15 due to "clearly present" risks of travel from India, leaving thousands of Australians stranded.
Cognizant CEO Brian Humphries received a total compensation of $13.8 million in 2020, according to the company's 2021 proxy statement filing on the US SEC. It's less than the $15.9 million he received in 2019.
In a show of solidarity, CEOs of some 40 top American companies have come together to create a global task force to mobilise resources to help India fight the battle against Covid-19.
IT services companies are lending a helping hand to their employees to cope with the health challenge thrown by the second wave of the pandemic. Infosys said that employees who have contracted or are recovering from Covid will get 21 days of additional paid leave.
The Reserve Bank of India has said in its ‘State of the Economy’ report that the resurgence in Covid infections, if not contained in time, risks protracted restrictions and disruptions in supply chains and consequent inflationary pressures. The RBI’s warning comes at a time when prospects of regional lockdowns have increased with rising cases of the disease.
Reliance Industries Ltd and its partner BP Plc of UK on Monday announced the start of production from the second set of new discoveries the two are developing in the eastern offshore KG-D6 block.
Google chief executive Sundar Pichai and his Microsoft counterpart Satya Nadella on Monday pledged support to India amid the ongoing coronavirus crisis in the country
DXC Technology said it will hire 7,000 from campuses across the country this year — 56% higher than the 4,500 it had recruited last year. The move comes as IT services companies continue to ride the wave of high demand from clients wanting to digitally transform their businesses.
In 2020-21, HCL signed 58 new large deals with a total contract value (TCV) of $7.3 billion, an 18% increase over the previous year. In an interview with TOI, HCL CEO and president C Vijayakumar spoke about the demand outlook.
In China's commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay.
HCL Technologies has offered a skill-based allowance of 25-30% of their CTC (cost-to-company) to about 16,000 employees. “These are skills where customers are paying a premium and we are passing it on to the employees. Over the years the number of people who qualify for this allowance has seen a steady increase..,” said Apparao V V, chief HR officer.
The Centre on Sunday moved in with a fresh set of measures aimed at immediately increasing medical oxygen supply by over 20%, while seeking to set up 551 dedicated medical oxygen generation plants at public health facilities across district headquarters, using funds from PM-Cares.
The Shapoorji Pallonji (SP) Group filed for a review on Saturday of the Supreme Court verdict in its minority shareholder oppression case against Tata Sons. The move came on the last day to file such an appeal.
The agriculture ministry is coordinating with the state governments to facilitate and ensure that harvesting and allied activities are not disrupted due to the pandemic, a senior official told ET.
Farmers are harvesting rabi (winter) crops sown in the 2020-21 crop year (July-June). Wheat is the main rabi crop. Releasing the latest data, the Agriculture Ministry said: "As a result of the proactive steps taken, harvesting of rabi crops is on schedule and timely procurement is also being ensured for the benefit of the farmers."
"A K-shaped global economic recovery...appears plausible. Most countries will take years to attain pre-pandemic income levels," said a joint report 'Responding to the COVID-19 Pandemic: Leaving no Country Behind' by the ADB, UNDP and the UNESCAP.
The nature of queries raised by stakeholders includes medical delivery boys not permitted to travel by local train for delivery of medicine (Mumbai), seeking permission for manufacturing, transporting and dispatching packed food (Mumbai), and does agriculture services come under essential services.
The importers will be required to fill up the 'pre-intimation for prompt clearance of COVID related items' form giving details of the bill of entry number, airport/port of import, and description of goods and end-use in COVID-19 treatment/relief operations, among others.
"In order to contain the virus spread, many states have imposed restrictions. This could affect exports and the worst impacted would be MSMEs (micro, small and medium enterprises).
For now, Prime Minister Narendra Modi is shunning a nationwide lockdown and encouraging states to keep their economies open. And for that reason, economists are signaling risks to their forecasts, but not tearing them up all together just yet.
Serum Institute of India, which makes the most used Covid-19 vaccine in the country, on Saturday defended pricing Covishield vaccine at 1.5 times the initial rate, saying the earlier price was based on advance funding and now it has to invest in scaling up and expanding capacity to produce more shots.