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, …

Jet Airways ownership diluted, Yes Bank comes clean, Economic measures against Pak- Weekly Digest #76

Monday- 11th February 2019 The parliamentary standing committee on IT refused to meet representatives of Twitter India, insisting that CEO Jack Dorsey would have to appear before it in 15 days. The committee has insisted on meeting someone who can be held accountable for Twitter’s actions in India. The government is aiming to raise ₹5,316 …

TCS ₹16k Cr. Buyback, HDFC’s India’s largest QIP, Jio to raise money from bonds- Weekly Digest #63

Monday- 11th June 2018 The government has said that it wants NCLT and NCLAT to work through the summer, without a break, to resolve the corporate insolvency cases that have been piling up. The move was sparked by the NCLAT posting a vacation notice on its website announcing a break from June 1 to July 1. Supply …

Rcom-Ericsson Settlement, Air Asia woes worsens, ICICI investigates Chanda Kochhar- Weekly Digest #62

Monday- 28th May 2018 HUL is suing Kwality Ltd claiming sole rights over Kwality Walls, the brand used for HUL’s ice creams. The Calcutta High Court directed Kwality Ltd to not use the original writing style of Kwality Walls for any of its dairy products, but continue to use its currently operational registered trademark KDIL’S …

SBI cuts lending rate, Rupee hits a 3-year high, CDB withdraws insolvency proceedings against RCom- Weekly Digest #59

Monday- 1st January 2018 China's e-commerce giant Alibaba to acquire a minority stake in logistics company XpressBees for an estimated amount of $100 million as it looks to break into Indian markets to compete with global rival Amazon, and homegrown rival Flipkart. BoB failed to sell bad loans amounting to ₹2,300 crore due from Bhushan Steel and …

Bankruptcy proceedings, TATA Group to acquire Air India, IHH withdraws from Fortis- Weekly Digest #45

Monday- 19th June 2017 Sensex closed at a record high of 31,311 points and Nifty at 9,657 points as RBI asked lenders to start bankruptcy proceedings against big defaulters. It has raised the hopes of a speedy resolution to the bad loans issue. The Income tax department has demanded all dividends due to Cairn Energy Plc from …

Wipro lays off staff, Mallya Arrest and Release, Mistry’s woes continue- Weekly Digest #41

Monday- 17th April 2017 A senior official of the Finance Ministry said that after SBI merger, the government is looking to adopt a similar roadmap for other state-run lenders such as PNB and BoB including raising fresh capital and restructuring policies. Citi has pointed out to the Finance Ministry that global banks and funds are taking …