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The auditing firm Deloitte offered a qualified opinion on the financial statements of Adani Ports & Special Economic Zone and highlighted three transactions, including recovery from a contractor mentioned in the Hindenburg report. Deloitte Haskins & Sells LLP noted transactions with three entities in the auditors’ report on the audit of the fourth quarter and […]
The Adani Group stocks extended gains on Tuesday to the third consecutive session with flagship Adani Enterprises scoring the best with 10% gains. It was followed by Adani Wilmar which shot up nearly as much. All ten Adani stocks were trading in the green in early trade. This is significant as shares of Adani Group […]
The Supreme Court-appointed expert committee stated that Sebi’s investigation into suspected irregularities in money flows from offshore organizations into the conglomerate has “drawn a blank” and that it cannot draw any regulatory conclusions regarding the stock price increases of Adani Group. The six-member panel, however, asserted that there was evidence of a build-up in short […]
Byju’s Alpha, a prominent Indian tech company, is facing accusations from lenders of concealing $500 million (41 billion INR) amidst a legal battle for control of the company. The lenders made their claim during a court hearing in Delaware, where Byju’s Alpha is being sued over ownership rights. The lenders argue that a previous default […]
British telecom company Vodafone announced today that it will eliminate 11,000 positions over the next three years as its new CEO Margherita Della Valle looks to create a “simpler” business model as it anticipates little to no earnings growth for the next fiscal year. In order to “increase our commercial agility and free up resources,” […]
Google, Intel, Microsoft, Meta, Amazon and a host of other firms had recently decided to downsize their workforce to navigate a challenging macro-economic environment. And now, Amazon, after firing 10,000 staffers, has gone to the extent of announcing that its employees won’t get a hike this year. The company has however agreed to offer promotions, […]
LinkedIn, a business professionals-focused social media network owned by Microsoft Corp., announced on Monday that it would eliminate 716 jobs due to waning demand and close its China-specific job application. Although LinkedIn, which has 20,000 employees, has seen quarterly revenue growth over the past year, it has joined other major technology companies, including its parent, […]
Rocked by recent allegations of accounting wrongdoings, operating shell companies in tax havens, inflating share values by giving a misleading picture of revenues, and round-tripping funds, the Adani Group was linked to case studies of corporate misgovernance. While the group vehemently contested the Hindenburg report, which detailed the charges, it emphasised commitment to openness and […]
Adani Ports and Special Economic Zone Ltd (APSEZ) has announced the sale of its Myanmar Port for a total of USD 30 million. The sale, which was initially announced in May 2022, included certain Condition Precedents (CPs) such as the completion of the project and approvals for the smooth conduct of business by the buyer. […]
Sankalp Recreation, the losing bidder in the race to acquire Rajesh Lifespaces’ hotel business in Mumbai, has filed a petition with the National Company Law Tribunal (NCLT) opposing lenders’ decision to hand over the hotel to the Rare ARC-Naman Group consortium. In its petition, the Ahmedabad-based company has alleged that the consortium was given a “back […]
Nexus Select Trust is planning to enter the capital markets on 9 May with a Rs 3,200 crore REIT (Real Estate Investment Trust) IPO at a price band of Rs 95 to 100 per unit. The IPO consists of a fresh issuance of units aggregating up to Rs 1,400 crore and an offer for sale […]
Reliance MET City, Haryana’s integrated smart city with the fastest rate of growth in North India, had a prosperous fiscal year in 2022–23. The city’s horizons were expanded this year with the addition of more than 450 companies, including numerous brands from seven different countries, and more than 2,000 residential lots that were sold for […]
The Reserve Bank of India (RBI) has become one of the top five gold buyers in the March quarter, according to bullion market experts. As central banks look to diversify their reserves amid economic uncertainties, the RBI has increased its gold reserves to just under 800 tonnes. The bank acquired about 10 tonnes of gold […]
Short seller Hindenburg’s report which sent ripples across global markets in January, alleging market manipulation by the Adani Group at the expense of investors’ risk, is currently under SEBI probe. The market regulatory board has sought a six-month extension to follow up, in particular, “12 suspicious transactions for possible violations related to mis-representation of financials, […]
The Bank of India has announced that Rajneesh Karnatak has been appointed as the Managing Director and Chief Executive Officer. Rajneesh Karnatak has more than 29 years of experience. Before being appointed executive director of Union Bank of India on October 21, 2021, he served as chief general manager of Punjab National Bank. He has […]
Ahmedabad, the largest city in the state of Gujarat, is quickly emerging as the next Silicon Valley of the country. With a thriving startup ecosystem, a large pool of skilled talent, and Tech Entrepreneurs, Ahmedabad is rapidly becoming a hub for innovation and technology. Different companies now looking Best IT company in Ahmedabad to take […]
Weekends are usually meant for a light read. Or it’s perhaps time to get to the last chapter of a novel that has consumed you. Or immerse ourselves in badminton, laughter yoga and beach football. But if a US carmaker becomes a talking point on weekends, there must be something deeply intriguing about the story. […]
In connection with an investigation into possible foreign exchange violations, the Enforcement Directorate stated on Saturday that it has searched the Bengaluru office and residential premises of Ed-tech giant BYJU’s CEO Raveendran Byju and seized ‘incriminating’ documents and digital data. The recent raids on three different locations—two business and one residential—took place in accordance with […]
The Raipur entrepreneur, investor and passionate traveller behind “ROLBOL – Rest of Life, Best of Life” shared about his journey as speaker at TEDx AIIMS Raipur and connected deeply with the audience. Every day the world notices the uprise of an individual or a professional coming from different communities, backgrounds, and societies of the world. […]
Mahindra & Mahindra (M&M) is launching a new range of pick-up trucks under the Bolero Maxx brand. Addressing a news conference in Ahmedabad on Tuesday, M&M’s strategy head Rajeev Mehta said the new model comes with an improved engine, wider cabin, enhanced cargo space and several Web enabled features that will allow owners to plan […]
