City Delhi Financial News

Some other restaurant chains said they are taking a hit on profit due to skyrocketing prices, while ecommerce platforms said sales of tomato replacements such as puree have more than doubled. Wholesale prices of tomatoes have shot up about 288% in a month to now touch ₹140 a kg in some states, as pest/virus attacks and hot weather have impacted production in many areas, according to Nomura economists.

Supreme Court Friday directed cash-strapped SpiceJet to pay the entire arbitration award of ₹380 crore to its former promoter Kalanithi Maran in a share transfer dispute, saying business must be carried out with «commercial morality». While refusing to grant more time to the airline to make payments of ₹75 crore to Maran, a bench led by Chief Justice DY Chandrachud said that «this is a luxury litigation...Which Supreme Court in the world will hear these arguments?» SpiceJet had sought two more months to pay as the airline was facing financial constraints. On February 13, the Supreme Court directed SpiceJet to pay ₹75 crore against Maran's claim of ₹362.49 crore in interest dues within three months under the 2018 arbitration award.

taxiway and a fourth runway will boost Delhi Airport’s capacity by next summer, senior officials of the airport management company said today. While a fourth runway will increase the number of air traffic movements per hour, an elevated taxiway connection will allow the aircraft to vacate the runway faster and shorten its taxiing time. Delhi Airport, operated by GMR Infra is the country’s largest airport and handles around 75-80 aircraft movements per hour.

Greater Noida West has emerged as a shining star in the real estate landscape of the National Capital Region. Strategically located near Noida and Greater Noida, this region, consisting of a cluster of prime sectors, has proven to be a goldmine for investors and buyers alike. The existing and proposed developments in Greater Noida West have significantly piqued the interest of potential buyers, investors, and developers.

In the second quarter of 2023, Delhi’s residential demand (active searches) increased 17.7% QoQ, according to Magicbricks’ flagship PropIndex Report (April-June 2023).

BBC, Wikimedia Foundation and US-based digital library Internet Archive through the Union Ministry of Law and Justice after noting that they were foreign entities and thus subject to rules formulated under the Hague Convention. Additional District Judge (ADJ) Ruchika Singla was hearing a criminal complaint filed by BJP leader Vinay Kumar Singh seeking to restrain them from publishing or broadcasting a documentary on the 2002 Gujarat riots or any other material defamatory to the Rashtriya Swayamsevak Sangh (RSS) and the Vishva Hindu Parishad (VHP).

Information Technology Rajeev Chandrasekhar reiterated on Friday. The Minister, who was speaking on the sidelines of the inauguration of the 6 MV Medical Linear Accelerator (LINAC) System, developed and deployed by Sameer (Society for Applied Microwave Electronics Engineering & Research) in Chennai, said States were authorised to regulate gambling but not online gaming.

Delhi High Court on Friday sought Additional Solicitor General Chetan Sharma's assistance in a PIL challenging the government's power to frame online gaming rules in its recent Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Amendment Rules, 2023. Noida-based Social Organisation for Creating Humanity said that the Constitution of India gives the state government exclusive powers to legislate on the issues of betting and gambling, and, therefore, the Rules are beyond the legislative competence of the central government.

Enforcement Directorate has informed that they have attached ₹52 crore worth of assets to former Delhi deputy chief minister and Aam Aadmi Party (AAP) leader Manish Sisodia his wife and some other accused in the Delhi excise policy-linked money laundering case. The development comes a day after Manish Sisodia moved Supreme Court for bail in CBI and ED cases related to alleged irregularities in the Delhi Excise Policy case. ED informed that a provisional order has been issued under the Prevention of Money Laundering Act to attach among others immovable properties (worth ₹7.29 crore) comprising two assets of Manish Sisodia and his wife Seema Sisodia, land/flat of another accused Rajesh Joshi (director of Chariot Productions Media Pvt Ltd.) and land/flat of Gautam Malhotra.

gold prices fell by ₹110 to ₹59,240 per 10 grams in Delhi on Friday. The price of the precious metal for 10 grams had previously traded at ₹59,350. Likewise, the price of silver fell by ₹600 to ₹71,500 per kilogram.

Jyotiraditya Scindia recently shared a video where he was seen interacting with the staff of an eatery near Gwalior, Madhya Pradesh. Amid loud chants of «long live Jyotiraditya Scindia», the minister was seen interacting with the cooks at the restaurant and taking the blessings of an elderly woman.

Akasa Air, India’s newest airline, has further enhanced its domestic connectivity by starting direct flights between Mumbai and Kolkata from July 7, 2023 onwards. The airline will connect Kolkata with three destinations, including Bengaluru, Mumbai, and Guwahati, and has also ramped up its frequency between Delhi and Ahmedabad with two daily flights.

Silver also plunged by Rs 600 to Rs 71,500 per kilogramme. «Gold edged lower on Friday, with spot gold prices in the Delhi markets trading at Rs 59,240/10 gram, down by Rs 110 per 10 gram,» Saumil Gandhi, Senior Analyst — Commodities at HDFC Securities, said.

₹380 crore to the airline's former promoter Kalanithi Maran in a seven-year-old share transfer dispute. In June, the Delhi High Court had ordered the airline to pay ₹380 crore to Maran of the Sun Group. The court had also directed the airline to furnish details of its assets within four weeks.

Upcoming professional Twenty20 cricket league in the US, Major League Cricket (MLC) has signed media rights partnership in India with Viacom18 Media Private Limited’s sports network. The league, operated by American Cricket Enterprises (ACE) and sanctioned by USA Cricket, will be covered on OTT platform JioCinema and broadcast television coverage on Sports18, beginning July.

IPL version of the much talked about Impact Player Rule will be used in the Syed Mushtaq Ali T20 Trophy (SMAT) beginning October 16. The Impact Player was introduced in SMAT last season but it had to be brought in by or before the 14th over and had to be named before the toss. However, this will change from next season as like the IPL, teams will be allowed to name four substitutes besides the playing eleven before the toss. Out of the four substitutes, only one can be used as an Impact Player by either team. The rule was approved at the BCCI Apex Council meeting in Mumbai on Friday. «Both teams are allowed to use one Impact Player per match. It is, however, not compulsory,» read one of the guidelines on the rule. Impact Player was used widely by the 10 IPL teams but the introduction of it divided opinions. Australian captain Ricky Ponting and Delhi Capitals head coach had said that it almost negated the role of an all-rounder in the side. «It actually almost negates the role of allrounders in the game now. So unless they're absolutely world-class and they're getting picked either as a batsman or as a bowler, not sort of a bits and pieces guy, then I don't think you'll see many, many teams this year actually use the guy that might bat at seven and maybe bowling over or two. Because you don't need those guys anymore,» Ponting had said.

Delhi's Rouse Avenue Court on Friday issued summons to BJP MP and outgoing Wrestling Federation of India (WFI) chief Brij Bhushan Sharan Singh and Vinod Tomar after taking cognisance of the chargesheet in the case of sexual harassment allegations by wrestlers. The court has listed the matter for July 18, 2023. Earlier this week, the court had sought a response from the «victim» and the complainant on the final report filed by Delhi Police seeking cancellation of a case against Singh for alleged sexual harassment of the minor wrestler.

Delhi's Rouse Avenue Court summons MP Brij Bhushan Sharan Singh and Vinod Tomar after taking cognisance of the chargesheet in the case of sexual harassment allegations by wrestlers. The court has listed the matter for July 18.

Shinde met Deputy CM and senior BJP leader Devendra Fadnavis late on Thursday night, sources said. The meeting came days after Shinde denied that his Shiv Sena MLAs were uncomfortable with the inclusion of Ajit Pawar and 8 Nationalist Congress Party (NCP) legislators in the state cabinet and claimed that he would remain as the chief minister until 2024. The Maharashtra cabinet now has 29 ministers with the entry of NCP leaders on Sunday.

Reliance owned Viacom 18 bagged media rights for broadcasting the first ever edition of Major League Cricket (MLC) on Friday, the company said in a release. While the details of the deal were not mentioned, the Reliance flagship announced that the coverage will be on multiple platforms including live streaming on JioCinema and broadcast television coverage on Sports18.

B L Kashyap & Sons, one of the leading civil, engineering and construction company, expects a 24% growth in revenue to Rs1300 crore in FY25, led by commercial and government projects. The firm has secured new orders worth Rs 700 crore in the last six months, including the redevelopment of the railway in railway project at Bijwasan from the Railway land development authority, Embassy business hub phase II and Nzuri business park in Pune. “There has been robust growth in order intake during the year and a substantial jump in order book position at the end of the financial year, clearly giving strong visibility of earnings in the coming years.