NEW DELHI: The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Videocon’s former chairman and MD Venugopal Dhoot for defaulting on loans of Rs 6,158 crore, as a personal guarantor of two group companies.Admitting a plea from State Bank of India (SBI), NCLT said Venugopal Dhoot has “committed defaults in repayment…
Congressmen Steven Horsford (D-Nev.) and Max Miller (R-Ohio) re-introduced their Digital Asset Protection, Accountability, Regulation, Innovation, Taxation and Yields (PARITY) Act late last month, seeking to update how the U.S. addresses crypto and taxes. Congress is going to address taxes (in general) in the coming months, and crypto may end up part of this. It’s…
MUMBAI: Life Insurance Corporation of India on Monday approved a 1:1 bonus share issue, a move that will double its paid-up equity capital and is expected to improve stock liquidity and retail participation, while leaving its financial strength unchanged. The board, at its meeting on April 13, cleared the bonus on a record date to…
MUMBAI: The Reserve Bank of India (RBI) continues to classify Tata Sons as a core investment company (CIC) in the upper layer, according to its latest NBFC list released on April 10, keeping the Tata Group‘s holding company within the ambit of potential listing requirements. In FY24, Tata Sons applied to the RBI to voluntarily…
NEW DELHI: In what could give a political handle to TMC, SC on Monday observed a person born in India has the right to be on electoral roll and the right to vote to elect a government. A part of the bench led by CJI Surya Kant, Justice Joymalya Bagchi said, “Somewhere we are getting…
BENGALURU: A majority of Nvidia’s 10,000 India-based employees have received CEO Jensen Huang’s one-time special stock grant, with payouts ranging from over Rs 5 lakh to as much as Rs 1 crore over the grant period, according to data from US-based salary tracker 6figr. The “Jensen Special Grant”, rolled out in 2024, is a one-time…
MUMBAI: Nadir Godrej will step down as chair of Godrej Industries Group (GIG) on Aug 13 upon turning 75, moving to chairman emeritus. His nephew, Pirojsha Godrej (46), will take over as GIG chair in a planned generational transition. Valued at $20 billion, GIG spans FMCG, real estate, financial services, agriculture, and chemicals. It is…
NEW DELHI: Parliament is on the verge of making history, PM Narendra Modi said on Monday ahead of the Lok Sabha and Rajya Sabha taking up his govt’s bills to implement women’s reservation in legislatures from 2029, as he expressed confidence amid demurring voices from Congress and its allies that the opposition will back the…
Circle Internet (CRCL) CEO Jeremy Allaire offered his clearest public response yet to growing criticism over how the stablecoin issuer handles illicit funds, saying it does not freeze wallets unless there is a formal legal basis to do so. Speaking on stage at a press conference in Seoul, Allaire positioned USDC, the second-largest dollar-pegged stablecoin,…
NEW DELHI: Two tankers carrying Iranian crude have reached Indian ports, marking the first such deliveries since May 2019. According to ship-tracking data from Kpler, Felicity, a very large crude carrier carrying about two million barrels of oil, anchored off Sikka on Gujarat’s coast late on Sunday. A second tanker, Jaya, also carrying a similar…
