City Delhi Financial News

Vedanta: Foxconn Technology Group has pulled out of its joint venture with Vedanta Ltd which had planned to invest $20 billion in India for setting up a semiconductor fabrication unit, display unit and semiconductor assembly and testing unit. The 60:40 partnership could have set up the country’s first semiconductor manufacturing unit under the $10 billion government-backed financial incentive scheme and was once estimated to be ahead of two other consortia in the fray for getting the sops.

Arvind Kejriwal said there is no threat of flooding in the national capital due to rising water level of the Yamuna on account of record rainfall over two days. Urging the Opposition parties not to indulge in a blame game, the CM said it was not the time to "point fingers" at each other.

New Delhi: A Delhi High Court division bench on Monday heard the appeal filed by the resolution professional (RP) of Go First, challenging an interim order issued by a single bench on 5 July, allowing the lessors to inspect the airline’s fleet, as it would be disastrous for Go First in its efforts to resume operations. Neeraj Kishan Kaul, counsel appearing for the RP, said the order disregarded a proposed resolution approved by Committee of Creditors, and submitted to the Directorate General of Civil Aviation.

ONDC) announced its beta launch in five cities including in Delhi, Delhi surpassed Bengaluru in terms of retail orders on July 9 with 8,304 orders over Bengaluru's 7,048 orders, and the network cumulatively got more than 35,000 retail orders in a day. Sources said this was the scenario despite the rains in the capital because of the weekend push by buyer applications like Magicpin and Paytm with themes like Super Sundays. ONDC had gone beta live on July 5 in Mumbai, Delhi NCR (including Noida, Gurgaon and Faridabad), Chennai, Hyderabad and Kolkata post scaling seller density in these cities.

Roposo is collaborating with ecommerce player Shopify to help 10,000 entrepreneurs set up online stores over the next two years, and support them in product sourcing, order fulfilment and payments. Roposo offers livestream shopping along with entertainment on its platform. It is a business unit of Glance, a subsidiary of InMobi.

Supreme Court on Monday issued notice to the Centre on a plea filed by the Delhi government, challenging the services ordinance promulgated by the central government on May 19 that gave overriding powers to the lieutenant governor in transfers and postings of civil servants in Delhi. A bench of Chief Justice of India DY Chandrachud and justice PS Narasimha ordered that lieutenant governor VK Saxena be impleaded as a respondent in the case.

US Embassy in India on Monday announced that VFS Global will be temporarily closed for the visa application processes — appointment booking, calls, and fee payments from July 12 to July 14. VFS in a statement said that they are migrating to a new platform and will resume their services on July 15. Taking on twitter, US Embassy said «Attention visa applicants! Our customer service center VFS is migrating to a new platform and will be temporarily closed for calls, fee payments, and appointment booking from July 12-14.

Yamuna water level, flowing above the danger mark of 205.33 metres, in Delhi was recorded at 205.76 at 8 pm on Monday, the latest data from the flood control department said. According to the flood bulletin, the water level at the Old Railway Bridge was recorded at 205.76 at 8 pm. As per officials, the «orange alert» mark is 206 metres, at which the evacuation process for people living in the Yamuna floodplain area gets started.

By Mayank Bhardwaj and Sumit Khanna

US embassy mentioned that visa application process- appointment booking, calls, and fee payments-- will be resumed from 15 July.  US Embassy in India took to their Twitter handle, “Attention visa applicants! Our customer service center VFS is migrating to a new platform and will be temporarily closed for calls, fee payments, and appointment booking from July 12-14. These services will resume on July 15." VFS Global is the world's largest outsourcing and technology services specialist for governments and diplomatic missions.

New Delhi: s the legal battle between low-cost carrier SpiceJet and its former promoter drags on, the Maran Group have stated that there is no question of an amicable settlement with the airline.  "....There is no question of an amicable settlement with SpiceJet Ltd in view of the matter having reached finality by virtue of the order dated July 7, 2023, of the Honorable Supreme Court of India," a statement from Marans Group firm KAL Airways said.  The Maran Group issued the clarification on reports of amicable settlement between the Marans and SpiceJet, following the Supreme Court order dated 7 July. The apex court directed budget airline SpiceJet to pay the entire arbitral amount of ₹380 crore to former promoter Kalanithi Maran in their legal dispute, a development which may impact the debt-laden carrier further.  A bench presided over by Chief Justice D Y Chandrachud and comprising Justice P S Narasimha dismissed SpiceJet’s plea seeking additional time to pay the ₹75 crore to Maran and KAL Airways, as directed by the apex court on 13 February.

Supertech's Chairman RK Arora to Judicial Custody till July 24, 2023. He was recently arrested by the Enforcement Directorate in connection with a money laundering case and was on ED remand. On Monday, RK Arora was presented before Delhi's Patiala House Court's judge Additional Sessions Judge Devender Kumar Jangala after his remand period.

The Delhi High Court on Monday set aside an order issued by the Indian Embassy to Sweden and Latvia revoking the Overseas Indian Citizen status of Ashok Swain. Noting that the February 8, 2022, order stated nothing other than that it was being issued exercising the powers of Section 7(D)(e) of the Citizenship Act, a single-judge bench of Justice Subramonium Prasad set it aside and directed the MHA, MEA and the Embassy to pass a detailed order explaining the reasons for exercising its power under the said section.

Delhi High Court has said. Justice Najmi Waziri, while dealing with a petition by a landlord challenging the dismissal of his plea by a lower court for eviction of his tenant, also said it cannot be assumed that the wife is subservient to her husband and is obliged to disclose to or share with her husband details of all her finances. «A wife is neither an appendage of nor an adjunct to her husband.

National Law University Delhi has introduced an academic initiative called Eklavya, which is a “Research Affiliate” programme. The programme embodies the belief that educational institutions should adopt an inclusive approach, enabling eager learners to explore their thirst for knowledge without restrictions. The Eklavya pedagogical model aims to enhance a comprehensive approach to legal education, emphasising the notion that the university should provide open spaces to accommodate the scholarly aspirations and interests of individuals who may not be formally affiliated with the institution, according to an official release.

New Delhi:  The Central Bureau of Investigation (CBI) today said it arrested the Chairman and Managing Director (CMD) of Tirupati Infraprojects Pvt. Ltd, Jag Mohan Garg, in a bank fraud case amounting to  ₹289.15 crore to a consortium of banks, the agency said in a statement.   The Investigation agency registered a case on 25 May 2022 against the said private company, its CMD, Directors, Guarantors and public & private persons on a complaint filed by the consortium of banks led by Bank of India, Union Bank of India, Canara Bank, Bank of Baroda & UCO Bank.  The agency in the statement added that the consortium of said banks led by Bank of India had granted Term Loan of ₹300 crore to the borrower company between year 2009 and 2014 for construction of a Hotel in Paschim Vihar, New Delhi, alongwith commercial spaces.

heavy rain which led to tree felling and waterlogging. “Trees were uprooted at 13 locations in Delhi due to heavy rain.

New Delhi: Diwan Arun Nanda has stepped down from the chairmanship of Rediffusion after 50 years of being at the helm. Nanda, who has stepped down due to his age and health, will be replaced by Sandeep Goyal. Goyal, who will also continue in his role as the managing director, has worked directly under Nanda for years.

New Delhi: As Go First draws up plans to resume flight operations, preparations are also underway to find a suitable new owner for the low-cost carrier. The airline's resolution professional Shailendra Ajmera on Monday invited expressions of interest for Go First, registered as Go Airlines (India) Limited.  The last date for the submission of expressions of interest is 9 August, a company advertisement stated.

Indian metrological Department (IMD) has issued red alert for the state. The weather department has also said that very heavy rainfall activity is likely to reduce from tomorrow, Tuesday. The torrential rains are likely to reduce in pace for the next three days.

The Supreme Court on Monday sought the Centre's stand on a plea filed by the Delhi government challenging the constitutionality of the ordinance on control of services. A bench comprising Chief Justice D Y Chandrachud and Justices P S Narasimha issued notice to the government and asked senior advocate Abhishek Singhvi, appearing for the AAP government, to amend its plea and add the Lieutenant Governor as party in case.