Mukesh Ambani bails out Anil Ambani, Jet runs into more troubles, Hostile takeover of Mindtree- Weekly Digest #80

Monday- 18th March 2019 Mukesh Ambani helped his brother Anil from imprisonment by paying money owed by him to Ericsson. The bailout came in critical time as Tuesday was the deadline for Anil’s RCom to clear ₹580 crore due to the Swedish equipment maker. L&T has bought a 20.32% stake in Mindtree for ₹3,269 crore …

Mallya’s assets under dispute, US withdraws duty benefits to India, Nifty reclaims 11K – Weekly Digest #79

Monday- 4th March 2019 Two shareholders of UTI AMC, SBI and LIC have sought more time from the SEBI to divest their stake in the asset manager, but SEBI has declined them an extension of time. Last year, the SEBI introduced a cross-holding limit in mutual funds to eliminate potential conflicts of interest. Zomato Media, …

India-Pak tensions escalate, SEBI probes NSEL Scam, ED carryout raids against Kochhar – Weekly Digest #78

Monday- 25th February 2019 The income tax department has revived its demand that Cognizant provide documents related to the bribes it had paid to Tamil Nadu government officials to secure approvals for a building. Cognizant had voluntarily disclosed to the US SEC in 2016 the payment of bribes after it uncovered the 2014 payments in …

SC Warns Anil Ambani, Sachin Bansal Invests in Ola, RBI Funds the Government – Weekly Digest #77

Monday- 18th February 2019 The RBI to pay ₹28,000 crore as interim dividend to the government, which will help the Center meet its revised budget estimates and polish its fiscal credentials ahead of the general elections. With this interim transfer, the government will get a total ₹68,000 crore from the central bank in the current …

ZEE Chairman dramatic letter, More troubles for Chanda Kochhar, Over 200 hotels exit Oyo- Weekly Digest #75

Monday- 21st January 2019 The RBI has outlined norms for private parties to apply for the development of retail payment systems such as IMPS, UPI and others. It has said that it could allow multiple entities to set up payment systems in India to encourage competition as there are very few players at present. In …

A second whistle for SunPharma, RIL sets another benchmark, Jet Airways- Etihad Tussle- Weekly Digest #74

Monday- 14th January 2019 Talks among Jet Airways and partner Etihad Airways over a possible rescue are stuck over several stipulations by the former for making any further investment. Etihad has refused to pledge its shares as collateral against loans to the Indian carrier. VBL is in talks to acquire PepsiCo’s bottling, sales and distribution …