Tatas now have to accept the LoI, post which the Share Purchase Agreement will be signed The government on Monday issued a letter of intent (LoI) confirming the sale of its 100% stake in loss-making Air India to Tata Group for ₹18,000 crore, a senior official said. Last week, the government had accepted an offer by Talace Pvt Ltd, a […]

While the NCLT is hearing a petition filed by Invesco demanding convening of an extraordinary general meeting (EGM), Zee had approached the NCLAT seeking more time to reply to the petition. The National Company Law Tribunal (NCLT) on Friday gave Zee Entertainment Enterprises Ltd time till October 22 to file its reply to a plea by its minority shareholder Invesco, […]

The pandemic will cost aviation USD 201 billion in losses before we return to profitability in 2023, says Willie Walsh The global aviation industry will lose USD 201 billion between 2020 and 2022 due to the COVID-19 crisis before returning to profitability in 2023, said Willie Walsh, Director General of global airlines body IATA. "We are past the deepest point […]

On September 22, Zee Entertainment and Sony Pictures Networks India had announced their mergers, which will create the country’s largest media company Zee Entertainment Enterprises Ltd on Friday said its board has rejected the request of shareholders, Invesco and OFI Global China Fund, to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of Managing Director Punit […]

Dr. Pawan Goenka is driving an unusual public-private partnership, informing and helping finetune policy changes Before the pandemic started, the major players in India’s room air conditioner market had no plans to invest in larger manufacturing operations, relying instead on convenient imports of over 80% of finished ACs. Over the past week, despite COVID-19 denting AC sales, global brands like […]

Balasundaram Radhakrishnan, who is currently Director, Manufacturing, Ford India Pvt Ltd (FIPL) has been appointed to the role of transformation officer of the company. Weeks after declaring stoppage of vehicle production in India, American auto major Ford on Friday announced a leadership change in its operations in the country with Anurag Mehrotra, currently President and Managing Director of Ford India, […]

Following a successful decade as Mastercard CEO, Ajay Banga had moved to the executive chairman role in February this year to facilitate a smooth transition Ajay Banga, one of the topmost Indian-American corporate leaders, and a strong advocate of India-US relationship, would retire from Mastercard at the end of the year, the global credit card company has said. Announcing retirement […]

While the company declined to comment on the legal fee issue, traders body CAIT claimed that Amazon spending 20% of its revenue on lawyers was questionable. U.S. e-commerce giant Amazon, which is said to be investigating alleged bribes paid by its legal representatives in India, spent a staggering ₹8,546 crore or $1.2 billion in legal expenses for maintaining a presence […]

Approximately 28% of the surveyed Amazon sellers claimed they would be launching new products this festive season. At least 86% of sellers who participated in a survey expect an increase in sales this year. More than 50% of them are hopeful of a 25% growth compared to last year, while one in four sellers anticipate doubling their business through festive […]