Companies News

Look out circulars issued by CBI against Bhushan Power and Steel chairman, wife

The Immigration authorities at all airports and entry-exit points across the country will have to inform the CBI if Singhal and his wife attempt to leave the country.

Sebi restrains Hotel Leela from selling properties to Brookfield

In its letter to Hotel Leelaventure, Sebi said it has received representations from ITC, which has moved the National Company Law Tribunal (NCLT) against Hotel Leelaventure alleging “oppression and mismanagement”.

Alleging ‘oppression’, ITC moves NCLT against Hotel Leelaventure

ITC, which has a 7.92 per cent stake in Hotel Leelaventure, has objected to a transaction involving the sale of properties by the latter to Brookfield.

GCMMF warns of ‘dent to Amul brand’ as Dudhsagar Dairy threatens to exit

Notably, the development comes on the eve of the Lok Sabha elections in Gujarat, where the milk cooperatives have considerable political clout and are run by politicians.

Volkswagen moves Supreme Court against NGT’s Rs 500 crore fine

While directing Volkswagen to pay the fine within two months, NGT on March 7 had said that the funds will be utilised towards improving air quality in the NCR of Delhi and other highly polluted areas.

Blackstone to buy packaging firm Essel Propack for around $460 million

Blackstone said it will initially buy 51 per cent from Ashok Goel Trust at Rs 134 per share and will eventually do an open offer to acquire an additional 26 per cent stake at Rs 139.19 per share.

GAIL emerges highest bidder for IL&FS wind power plants

The bidding process to these assets, having 12 sites spread across seven states, was launched in November last year.

Adani Group wins projects across coal, gas, highways in competitive bidding

Sources close to the company said it is aggressively bidding for projects in logistics, mining, energy, construction and agro commodities to diversify the portfolio.

Tesla to shrink board to seven directors from 11

Tesla said its directors reviewed the composition of the board "focusing on a phased streamlining of the size of the Board to allow it to operate more nimbly and efficiently."

Airtel’s Rs 25K-crore rights issue to open on May 3

The company said the capital infusion will help it continue investments in future roll-outs to build large network capacity and create content and technology partnerships to ensure the strong customer experience.

Hyundai hires former Carlos Ghosn ally Jose Munoz as global COO, Americas head

Munoz is the latest foreign executive to be brought in to a South Korean automaker dominated by lifelong loyalists, as heir-apparent Euisun Chung strengthens control of the conglomerate chaired by his aging father.

Reliance Industries net profit rises 9.8% to Rs 10,362 crore in Q4

Revenue increased by 19.4 per cent to Rs 154,110 crore from Rs 129,120 crore in the same period of last year. However, on a standalone basis, RIL’s net profit was down 1.6 per cent at Rs 8,556 crore in the fourth quarter.