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Give Zee  reasonable time to reply to Invesco’s plea

MUMBAI : The National Company Law Appellate Tribunal (NCLAT) on Thursday said Zee Entertainment Enterprises Ltd should be given reasonable and sufficient time to file a response to Invesco’s plea for convening a special shareholders’ meeting. This development brings relief to Zee, whose counsel had expressed unhappiness with the National Company Law Tribunal (NCLT)’s 5 …

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Lenders are prepared to face Srei Group debt crisis: Amitabh Chaudhry

MUMBAI : The financial system will be able to absorb the shock from the Reserve Bank of India’s (RBI’s) decision to supersede the boards of two companies of Srei Group, according to Axis Bank managing director and chief executive officer Amitabh Chaudhry. In an interview, Chaudhry said Axis Bank, one of the lenders to Srei, …

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‘Infosys leads in ESG norms, Axis Bank best in transparency in disclosures’

Infosys has best environmental social and governance (ESG) practises while Axis Bank has better transparency in disclosures and reporting standards among Indian companies, according to ESGRisk.ai part of Acuité Group company. The ESG rating agency reviewed top 500 listed companies across 55 industries. According to the review, Infosys Limited also stands out in overall ESG …

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Cloud kitchen startup becomes third India unicorn born this week

Rebel Foods Pvt has become at least the third Indian startup to achieve a billion-dollar valuation this week after securing $175 million in a funding round led by the sovereign wealth fund Qatar Investment Authority. Existing investors Coatue Management and Evolvence Group joined the funding at a $1.4 billion valuation for the Mumbai-headquartered company, which …

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Independent directors, audit committees key to preventing fraud: SFIO

NEW DELHI : Independent directors on the board of directors of companies and audit committee are key to steering enterprises clear of discrepancies in the nature of fraud, according to Keshav Chandra, Director of Serious Fraud Investigation Office (SFIO).  Speaking at a conference on corporate frauds, governance and risk management organized by the Confederation of …

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Piramal group to demerge financial, pharma biz into separate listed entities

MUMBAI : Billionaire Ajay Piramal-led Piramal Enterprises Ltd on Thursday announced a major restructuring of its business with plans to demerge its financial services and pharmaceuticals businesses into two separate listed entities. The pharmaceuticals business will get vertically demerged from Piramal Enterprises and consolidated under Piramal Pharma Ltd (PPL), the group said in a statement. …

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P&G elevates Sundar Raman as global CEO of fabric and home care division

NEW DELHI : American packaged consumer goods company Procter & Gamble has named Sundar Raman as the global CEO of the company’s fabric and home care division, which includes brands such as Ariel, Tide, Ambipur and Downy. Raman succeeds Shailesh Jejurikar who was elevated as the company’s chief operating officer earlier this year as part …

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Realty firm Puravankara accelerates digitisation with IBM, SAP

BENGALURU: IBM Corp on Thursday said real estate firm Puravankara Ltd is collaborating with IBM Global Business Services (GBS) to fuel tech-led innovations in its operations by adopting RISE with SAP. Through this partnership, Puravankara will reinvent its processes for superior business outcomes. IBM will integrate thSAP Cloud environment with the real estate firm’s cloud …

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Paytm in talks with ADIA, BlackRock for IPO stakes

India’s Paytm is in talks with sovereign wealth funds and financial firms to become anchor investors in its upcoming blockbuster initial public offering, according to people familiar with the matter.  State-backed wealth investors Abu Dhabi Investment Authority and Singapore’s GIC Pte are among those weighing bidding to participate in the IPO, the people said, asking …

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