Companies

Corporate affairs ministry eases rules for board meetings conducted through virtual mode

June 17, 2021 6:03:39 pm

Amid the coronavirus pandemic resulting in the shift from physical meetings to virtual ones, the Ministry of Corporate Affairs (MCA) has amended rules pertaining to 'meetings of board and its powers' under the Companies Act, 2013.

TCS, Infosys, Wipro, HCL, Tech Mahindra, Cognizant to slash 3 million jobs by 2022 due to automation: Report

June 17, 2021 3:51:47 pm

Based on average fully-loaded employee costs of USD 25,000 per annum for India-based resources and USD 50,000 for US resources, this will release around USD 100 billion in annual salaries and associated expenses for corporates, the report says.

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Kotak Mahindra Life Insurance arm expects to incur up to Rs 275 crore loss in June qtr

June 17, 2021 3:35:34 pm

"Due to increased claims and higher mortality related provisioning arising on account of the second wave, the company expects to incur a loss for the quarter ended June 2021 in the estimated range of Rs 225-275 crore on shareholder's account," Kotak Mahindra Life Insurance Company said in a regulatory filing.

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IKEA enters Bengaluru with eCommerce and mobile shopping app

June 17, 2021 3:07:48 pm

IKEA already has online presence in Hyderabad, Mumbai, Pune, Ahmedabad, Surat, and Vadodara.

Microsoft names CEO Satya Nadella as chairman

June 17, 2021 8:11:42 am

Satya Nadella, who took over as CEO in 2014 from Steve Ballmer, has been instrumental in scaling up its business including billion-dollar acquisitions like LinkedIn, Nuance Communications and ZeniMax.

BrowserStack rises to $4 bn in value with $200-mn funding

June 17, 2021 3:01:32 am

Founded in 2011 by Ritesh Arora and Nakul Aggarwal, the firm runs offices in Mumbai, New York, Dublin and San Francisco.

JLR drives in new Range Rover Velar in India tagged at Rs 79.87 lakh

June 16, 2021 3:34:41 pm

The new Velar is available in the R-Dynamic S trim with 2-litre petrol and diesel powertrains.

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Easy Trip Planners posts Q4 net profit at Rs 30.46 crore

June 15, 2021 5:21:25 pm

Revenue from operations was up 82.06 per cent to Rs 57.44 crore during the quarter under review as against Rs 31.55 crore in the corresponding quarter of the previous fiscal, Easy Trip Planners said in a BSE filing.

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BMW S 1000 R motorcycle launched in India at Rs 17.9 lakh

June 15, 2021 4:45:45 pm

The second generation BMW S 1000 R is being imported as a completely built-up unit (CBU) and can be booked at all BMW Motorrad India dealerships from Tuesday onwards, the group said in a statement.

The Amazon that customers don’t see

June 15, 2021 3:52:53 pm

For months, Ann Castillo, a polite, get-it-done physical therapist, had been alerting the company that her husband, who had been proud to work for the retail giant, was severely ill. The responses were disjointed and confusing. Emails and calls to Amazon’s automated systems often dead-ended.

Rishi Sunak drawn into in-law Narayana Murthy Amazon tax dispute: Report

June 15, 2021 11:05:43 am

Following the report, the office of UK Chancellor of the Exchequer Rishi Sunak, who is son-in-law of Murthy, was forced to comment.

Franklin Templeton MF senior officials, trustee fined Rs 15 crore; AMC to move SAT

June 15, 2021 3:13:53 am

The regulator has slapped a fine of Rs 3 crore on Franklin Templeton Trustee Services Pvt Ltd and Rs 2 crore each on Sapre and chief investment officer Santosh Kamat.

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See-saw for Adani Group stock, denies freeze on a/c of investors

June 15, 2021 1:19:39 am

The shares recovered partially after the group companies denied the news reports and informed stock exchanges that the demat accounts in which these foreign funds hold their shares were not frozen.

A $43 billion jump in Gautam Adani’s fortune is fraught with many risks

June 11, 2021 3:39:15 pm

Gautam Adani’s net worth of $76.7 billion got a boost from a 330% jump in Adani Total Gas Ltd., a 235% rise in his conglomerate’s flagship Adani Enterprises Ltd. and a 263% increase in Adani Transmission Ltd. this year.

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WazirX money-laundering probe: Yet to receive ED notice, compliant with all laws, says crypto exchange

June 11, 2021 9:18:30 pm

According to an ED statement, it initiated FEMA investigation on the basis of the ongoing money-laundering investigation into Chinese-owned illegal online betting applications.

Elon Musk shows off Tesla’s fastest car yet – Model S Plaid

June 11, 2021 10:50:31 am

Musk said the Model S Plaid has a range of roughly 400 miles per charge, a top speed of 200 miles per hour and can go from 0 to 60 mph in under 2 seconds. The cost: roughly $130,000, according to the company’s website.

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Sebi’s order to not impact existing schemes, says Franklin Templeton

June 10, 2021 4:32:44 pm

In an e-mail dated June 8 to investors, Franklin Templeton AMC President Sanjay Sapre said Sebi's order does not impact the current monetization process of the six debt schemes under winding up being undertaken by the liquidator.

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JLR drives in new F-PACE in India tagged at Rs 69.99 lakh

June 10, 2021 4:17:57 pm

The model comes with various features like an new 28.95 cm curved glass HD touchscreen infotainment system, 3D surround camera, Meridian audio System among others.

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Tata Digital to acquire majority stake in 1MG

June 10, 2021 1:23:47 pm

Tata Digital said e-pharmacy, e-diagnostics and tele-consultation are critical segments in this ecosystem and have been among the fastest growing segments in this space, as this sector enabled access to healthcare through the pandemic.

BharatPe acquires Payback India

June 10, 2021 12:48:12 pm

This is the first-ever acquisition by BharatPe and will make Payback India a wholly-owned subsidiary of BharatPe, a statement said.

Faltering for years, Ford is showing signs of a revival

June 10, 2021 10:45:59 am

Ford is trying to concentrate on making vehicles that stand out rather than the generic sedans and compacts that U.S. automakers made in the recent past and have largely discontinued.

CBI books Avantha Group promoter over Yes Bank ‘fraud’

June 10, 2021 7:32:34 am

The complaint is part of the FIR registered by CBI on June 2. The agency on Wednesday conducted searches at 14 locations spread across Delhi-NCR, Lucknow, Secunderabad and Kolkata and claimed to have recovered “incriminating documents and digital evidence”.

Franklin Templeton investments were like loans, says Sebi; AMC moves SAT

June 10, 2021 9:50:00 am

On Monday, Sebi barred the fund house from launching any debt scheme for 2 years, and asked it to disgorge Rs 512.5 crore for violation in connection with the shutting down of six debt schemes last year. It has imposed a penalty of Rs 5 crore on the AMC.

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Hyundai Alcazar bookings open

June 9, 2021 5:39:24 pm

The premium SUV which will come in 6 and 7 seater options can be booked either at the company's dealerships or online with a down payment of Rs 25,000, the company said in a statement.

Mercedes-Maybach GLS 600 4MATIC launched in India: Priced Rs 2.43 crore onwards

June 9, 2021 3:38:00 pm

Mercedes-Benz Maybach SUV GLS 600 launched: The GLS 600 4MATIC is the first-ever SUV in the Mercedes-Benz's ultra-luxurious 'Mercedes-Maybach' range. It is the only second Maybach model to be rolled out in the Indian market, following the Mercedes-Maybach S-Class.