City Delhi Financial News

₹100 crore to Sun Group chairman and former promoter of the airline Kalanithi Maran, according to the direction of the Delhi high court on the arbitral award. On Monday, the airline paid ₹77.5 crore and committed to clear the remaining amount of ₹22.5 crore within a day, as the counsel appearing for Maran refused to accept a cheque that was submitted in the HC, and instead requested SpiceJet to transfer the amount via RTGS. On 24 August the Delhi high court had ordered SpiceJet to pay ₹100 crore as part of the arbitration award to Maran by 10 September.

Christian Dior SE has leased nearly 3,320 sq ft retail space from Reliance Industries in its Jio World Plaza in Mumbai’s business district Bandra-Kurla Complex (BKC) for a term of 9.5 years The global brand already operates stores in key Indian cities including Mumbai, Delhi, and Bengaluru. Interestingly, Louis Vuitton that controls the brand Christian Dior also recently leased space at Jio World Plaza to set up its biggest store in India. The company has leased the space through its subsidiary Christian Dior Trading India at monthly rentals of Rs 21.56 lakh, or Rs 650 per sq ft based on minimum monthly guaranteed sum or net revenue share, whichever is higher, showed the documents accessed through FloorTap.com. The licensee Christian Dior Trading India will have a lock-in period of 36 months and the lease will be operational until May 2032. ET’s email query to Reliance Industries and Christian Dior Trading India remained unanswered. The agreement includes a clause to escalate rentals by 7.5% from 19th month till 42nd month and thereafter 15% every 36 months. Christian Dior Trading India has also paid a security deposit worth over Rs 1.39 crores and this will also witness an escalation of 15% every 36 months. Several global luxury brands have set their sights on the burgeoning Indian market and are either forming alliances or entering directly to get a bigger slice of it. India, being the fastest growing economy in the world, is expected to witness significant growth in the number of millionaires in the next few years.

Raghav Chadha on Tuesday condemned DMK leader Udayanidhi Stalin's remark on the Sanatan Dharma, but said statements made by some «small» leader from any party cannot be considered the official stand of the INDIA bloc. «I am from Sanatan Dharma. I condemn and oppose such statements. Such kind of statements should not be made.

airport during his return. The India visit was far from smooth for the Canadian delegation as it came amidst the rough patch in Indian-Canada relations due to Canada's non-committal and soft stand on anti-India activities in various parts of Canada. In a bilateral meeting with Justin Trudeau, PM Modi expressed strong concerns about anti-India activities in Canada.

Rajasthan recording the highest inflation rate at 8.6%, easing from 9.7% in the previous month, whereas Delhi had the lowest rate at 3.1%. However, Rajasthan was not the only state to record high inflation, as three others, Haryana, Telangana and Odisha, also noted 8%+ numbers. Rajasthan and Telangana are among the five states headed for election later this year. An ET analysis shows that 13 of 22 states for which data was available recorded a higher number than the national average of 6.8%--a worse situation than last month when 12 states had recorded higher than national average inflation. Economists indicate that states taking measures to supply subsidized tomatoes had something to do with inflation variances across states. “Delhi has lowest at 3% with the state taking measures of supplying tomatoes at subsidized prices to the people contributing to this low number,” said Madan Sabnavis, chief economist, Bank of Baroda. Further analysis indicates that two of the 22 states recorded an increase in retail prices as inflation declined across the country.

CBI informed a Delhi court on Tuesday that the requisite sanctions to prosecute former railway minister Lalu Prasad in a case related to an alleged land-for-job scam has been received from authorities concerned. The agency told Special Judge Geetanjali Goel that the sanction with respect to the three other accused was still awaited.

G20 Summit, where India flagged the presence of Khalistani extremists in Canada, Prime Minister Narendra Modi was given an open death threat by Gurpatwant Singh Pannun at an event in Canada just as Canadian PM Justin Trudeau left for his country. The chief of the banned US-based Sikhs for Justice (SFJ) outfit, Pannun, was speaking at a referendum organised in Surrey, Vancouver at the Guru Nanak Singh Gurudwara on September 10. In his address, he openly threatened of ‘political death’ of PM Modi, Union Home Minister Amit Shah, and EAM S Jaishankar in India.

Supreme Court on Tuesday extended till September 25 the interim bail of former Delhi minister Satyendar Jain in a money laundering case. A bench of Justices AS Bopanna and Bela M Trivedi granted the relief to Jain after Additional Solicitor General SV Raju made a request for adjournment. Senior advocate Abhishek Singhvi, appearing for Jain, also agreed to defer the matter. The top court then postponed the matter to September 25 after extending the interim bail of the senior Aam Aadmi Party (AAP) leader. It also directed another accused Ankush Jain to be released on interim bail for four weeks on medical grounds noting that his child has to undergo surgery. The top court had on May 26 granted interim bail to Jain for six weeks for spinal surgery, saying a citizen has a right to receive treatment of his choice in a private hospital at his own expense.

₹100 crore to Sun Group chairman Kalanithi Maran as per the Delhi High Court's order regarding the execution of an arbitral award. On Monday, SpiceJet had presented a cheque for ₹37.5 crore to Maran in court. However, Maran's counsel had declined it and requested SpiceJet to make a bank transfer.

₹100 crore to Kalanithi Maran as per the Delhi High Court's directive, resolving a long-standing dispute between the airline and its former promoter. The Supreme Court on Monday sternly ordered the SpiceJet chairman Ajay Singh to make a payment of $500,000 towards a Credit Suisse installment by September 22 and an additional $1 million for a defaulted amount. In case, the company fails to make the payment there will be ‘drastic action’, hinting that he might face imprisonment at Tihar jail.

Sufiya Sufi's incredible journey from a baggage handling officer at the IGI airport in Delhi to a world-renowned ultra-runner is a testament to determination and resilience. Sufiya, who has earned five Guinness World records, including a remarkable 4,000 km run from Kashmir to Kanyakumari in just 87 days, has defied all odds to achieve her dreams. For Sufiya, running is more than just a sport; it's a form of therapy that allows her to shed the burdens of everyday life.

Justin Trudeau and his delegation have departed from Delhi on Tuesday afternoon as the technical issue with his aircraft has been resolved. Trudeau was scheduled to leave the national capital after the G20 summit on Sunday, but were stranded here due to the technical issue with the aircraft. The Canadian prime minister's office said in a statement that the plane has been cleared to fly, earlier on Tuesday. «The technical issue with the plane has been resolved. The plane has been cleared to fly.

G20 summit on Sunday, were stranded in the national capital due to the technical issue with the aircraft. "The technical issue with the plane has been resolved.

Supreme Court on Tuesday adjourned for four weeks the hearing on a plea filed by former JNU student Umar Khalid seeking bail in a case lodged under anti-terror law UAPA over his alleged involvement in the conspiracy behind the northeast Delhi riots of February 2020. A bench of Justices Aniruddha Bose and Bela M Trivedi said the matter requires a detailed hearing. «In this matter, we will have to go document-by-document.

Stock market today: India has been at the center of the global political and economic discourse for some time now. As the fastest growing large economy in the world, India is viewed with respect among the comity of nations. According to IMF, India will contribute 15 percent to the global GDP growth this year.

₹5 lakh. The announcement came as a surprise during the launch event of the 'One Week One Lab' program by CSIR-National Institute of Science Communication and Policy Research (CSIR-NIScPR).

upcoming Cricket World Cup 2023 has been building up for some time. Fans across India are hoping that ‘conservative’ India can lift the trophy after 12 years on home soil. India triumphed over Sri Lanka in the 2011 Cricket World Cup.

The MCX October gold futures were trading up by Rs 35 or 0.06% from the Monday closing price at Rs 58,965 per 10 gram on the MCX while the December Silver futures were trading at Rs 72,160 per kg, higher by Rs 218 or 0.30%. On Comex, Gold futures were trading at $1,946 per troy ounce on Tuesday, down by $1.20 or 0.06% while Silver futures were at $23.445, higher by $0.062 or 0.270%. The October Gold futures had ended with gains of Rs 40 or 0.07% per 10 gram at Rs 58,938 on Monday while the December Silver futures closed lower at Rs 71,940, down by Rs 377 per kg or 0.53%. Expert Anuj Gupta, Head Commodity & Currency, HDFC Securities said that the market was awaiting the US economic data and FOMC decision on interest rates, later this month while adding that profit booking in dollar index from higher levels was also the reason why gold is steady. «For trading gold may trade between $1,910 to $1,930 levels and on the MCX it may trade between Rs 58,500 and Rs 59,300 levels with broadly mixed trend,» he added.. Prithviraj Kothari, MD & CEO of RiddiSiddhi Bullions Limited (RSBL) said that a higher-than-expected monthly reading may encourage hawkish Fed bets and further weigh down on gold.

Westlife is set to enthrall fans in India as the band travels to the country for its much-anticipated "The Wild Dreams" Tour this November. The global best selling pop band, consisting of Nicky Byrne, Kian Egan, Shane Filan and Mark Feehily, will perform live in Mumbai, Bengaluru, Delhi as part of the India leg of the «The Wild Dreams» Tour. The show is brought to India by BookMyShow Live. The tour will kick-off at the Members Enclosure, RWITC, Mahalaxmi Racecourse, Mumbai on November 24, followed by Embassy International Riding School Ground, Bengaluru on November 25 and culminate at the Jawaharlal Nehru Stadium in New Delhi on November 26, 2023. «India has always held a special place in our hearts. We are so excited to share The Wild Dreams tour with all of our fans in India. Get ready for an unforgettable night of music and memories with us!» Westlife said in a statement. During the concerts, the group is expected to perform their greatest hits including «Swear It Again», «If I Let You Go», «Uptown Girl» and «Hello My Love» as well as fresh pop anthems such as «Star Light» and «Alone Together» from the 2021 special-edition studio album «Wild Dreams», released to critical acclaim. The global pop sensation kicked off the tour in 2022 performing across the UK, including a sold-out headline show at London's iconic Wembley Stadium.

The release of a paper that synthesised separate recommendations by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) to coordinate measures to stop crypto assets from undermining macroeconomic and financial stability was advanced by about a month so that G20 members could form their assessment on that before the Leadership Summit on September 9-10, he said. The paper, released on September 7, has endorsed regulation of crypto assets, instead of a blanket ban, saying the prohibition could be «costly and technically demanding to enforce». It, however, acknowledged that widespread adoption of crypto assets «could undermine the effectiveness of monetary policy, circumvent capital flow management measures, exacerbate fiscal risks, divert resources available for financing the real economy, and threaten global financial stability». While the paper's recommendations could serve as global baseline standards for crypto regulations, it has left the scope for countries to put in place additional restrictions based on their perception of risks.The Delhi G20 declaration lauded the synthesis paper, which included a road map for supporting a «coordinated and comprehensive policy and regulatory framework taking into account the full range of risks». «Our finance ministers and central bank governors will discuss taking forward the road map at their meeting in October 2023,» it added.

₹62.5 crore to Kalanithi Maran on Monday, and is planning to clear the remaining ₹37.5 crore within a day, to comply with a 24 August Delhi high court order in connection with the arbitral award. In a separate development earlier in the day, the Supreme Court ordered the debt laden airline to settle dues to Credit Suisse by 22 September. The SC also warned SpiceJet and its promoter Ajay Singh, for not complying with its order in the case of defaults to Credit Suisse.