City Kolkata Financial News

17.08 / 19:45

Aware awards REC BHEL challenges REC's plea for HEL insolvency

Bharat Heavy Electricals has challenged an insolvency petition filed against West Bengal-based coal power producer Hiranmaye Energy, as it will «stall» BHEL's efforts to enforce a ₹388.4 crore arbitration award against the company. BHEL has filed an application before the Kolkata bench of the National Company Law Tribunal (NCLT), seeking cancellation of the insolvency petition filed by REC.

17.08 / 19:39

UPS Seal Emami may seal AMRI sale to Manipal Group this month

Emami Group expects to conclude the sale of its hospital business, AMRI Hospitals, this month to Manipal Group for about '2,400 crore, after months of negotiations and legal battles, said industry executives. About '1,650 crore of the proceeds of the deal will be utilised for servicing the existing debt of AMRI Hospitals which will make the business completely debt-free, the executives told ET on condition of anonymity. The balance proceeds will help the promoters reduce their share pledge in the flagship fast-moving consumer goods (FMCG) company Emami to almost 18% from 33%, they said.

17.08 / 19:39

Landmark Platform Stealth country President Murmu launches advanced stealth frigate INS Vindhyagiri in Kolkata

Murmu launched INS Vindhyagiri at Garden Reach Shipbuilders & Engineers Ltd (GRSE) in Kolkata. West Bengal Governor CV Ananda Bose and state Chief Minister Mamata Banerjee were also present at the programme. President Droupadi Murmu said that India is poised to become the third largest economy in the world and the launch of INS 'Vindhyagiri' will strengthen Indian navy and help India become «Atmanirbhar Bharat» through indigenous ship-building.

17.08 / 18:05

Racing Enterprise Emami Group aims to complete AMRI Hospitals sale to Manipal Group this month: report

Emami Group aims to complete the sale of AMRI Hospitals this month to Manipal Group for about ₹2,400 crore, said a report by Economic Times on Thursday. The report citing industry executives said that about ₹1,650 crore of the proceeds of the deal will be utilised for servicing the existing debt of AMRI Hospitals.

17.08 / 16:55

Merit Dadheech Infra case: NCLAT upholds insolvency proceedings; flags delay by NCLT in pronouncing verdict

NCLT order allowing the initiation of insolvency resolution proceedings against Dadheech Infrastructures. While upholding the National Company Law Tribunal's ruling in the case, the NCLAT also flagged that «unreasonable and unexplained delays in delivering verdicts are not desirable». The NCLT had reserved its order in December 2022 and pronounced the order only in June this year.

17.08 / 15:47

Platform Mobile social Average user spends below Rs 100 on online gaming, Rs 200-400 on OTT: Survey

online gaming and Rs 200-400 on over-the-top (OTT) platforms, according to a report by technology and policy think tank Esya Centre. Published in a working paper of IIM Ahmedabad, the survey outlines that users spend the maximum time about 194 minutes a day on social media, compared to 46 minutes on online gaming and 44 minutes on OTT.

17.08 / 11:03

Citi FIVE Platform Enterprise Stealth Indian President Murmu launches INS ‘Vindhyagiri’ in Kolkata, 6th ship under ‘Project 17 Alpha’ of Indian Navy

Vindhyagiri has been named after the mountain range in Karnataka. In Kolkata, President Murmu was received by West Bengal Governor CV Ananda Bose, who along with Chief Minister Mamata Banerjee were also present on the INS ‘Vindhyagiri’ launch occasion. INS ‘Vindhyagiri’ is an advanced stealth frigate, or warship.

17.08 / 10:11

Citi Digital Platform Action Mobile social electronic Users spend less than ₹100 a month on gaming: Report

₹100 a month and less than an hour a day on online gaming. On OTT platforms, the amount was far more, between ₹200 and ₹400 a month. The paper by Rajat Sharma and Vikash Gautam titled ‘New-Age Digital Consumption: A Survey of Social Media, OTT Content and Online Gaming’ also outlines that policy concerns around unwanted user actions, especially in online gaming, which are not supported by user time-spend or money-spend data.

17.08 / 08:51

Citi Provident VISA Aware TCS country US immigration: EB5 visa awareness roadshow in your city. Check dates, other details

real estate investments across the country. Attendees will have the opportunity to meet one-on-one with the USIF Team and a seasoned immigration attorney from Donoso & Partners LLC, who has substantial experience with EB-5 matters.

17.08 / 07:33

Citi Lowe's show track Affordability Mumbai High home loan rates hits affordability; Mumbai becomes unaffordable: Report

real estate consultant released its 'Affordability Index' for the top eight cities for the first six months of the 2023 calendar year. The index tracks the EMI (Equated Monthly Instalment)-to-income ratio for an average household. It indicates the proportion of income that a household requires, to fund the EMI of a housing unit in a particular city.

16.08 / 19:41

resolution Srei twins resolution plan: Authum appeals against NCLT order

Authum Investment & Infrastructure, the losing bidder in the takeover battle for the Srei twins, has appealed against the National Company Law Tribunal (NCLT) order approving the resolution plan of the National Asset Reconstruction Co (NARCL). Also, in a new twist, the Mumbai-based NBFC has increased its offer for the Kolkata-based companies by another Rs 450 crore, people familiar with the matter said.

16.08 / 18:35

MET Action Assurant Jadavpur University ragging, death case: Nine students, ex-students held

Jadavpur University and three former students in a case of ragging and death of a student. Two students and a former student were arrested earlier. All 9 have been remanded to police custody till August 28.

16.08 / 18:35

Aware Anti-ragging laws in India need an upgrade

Less than a week earlier, an 18-year-old BA Bengali (honours) student of Jadavpur University (JU) in Kolkata 'fell' from the hostel balcony and died a day later. Nine current and former students have been arrested in connection with the death, and a case of murder and conspiracy has been registered after allegations of ragging emerged. This is murder — of a member of India's much-vaunted youth — and must be treated as such.

16.08 / 18:33

Provident Merit Action Injustice show NCLAT asks RBI to respond to Srei ex-promoter co’s petition

NEW DELHI : The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked the Reserve Bank of India (RBI) to respond in three weeks to a petition filed by Adisri Commercial, the former promoter of Srei Infrastructure Finance, against an earlier order issued by the tribunal. On 8 October, 2021, the Kolkata bench of the National Company Law Tribunal (NCLT) had admitted Srei into the corporate insolvency process, and an NCLAT bench In December 2022 rejected Adisri’s plea challenging the NCLT order.

16.08 / 11:17

Provident Merit Action Injustice show NCLAT seeks RBI response on plea of former promoter of Srei Infra Finance

RBI) to submit in three weeks their response on a plea by Adisri Commercial, the former promoter of Srei Infrastructure Finance, against an earlier NCLAT order. The NCLAT had rejected an earlier plea by the company challenging the insolvency order passed by the Kolkata bench of National Company Law Tribunal (NCLT) on 8 October 2021. In their plea, the promoters had submitted that substantial injustice was caused to Srei and its shareholders by the Kolkata NCLT’s October order which admitted the company into insolvency.

16.08 / 06:43

Mobile Is it a bank holiday today in Maharashtra for Parsi New Year?

In Maharashtra, banks will work only for remaining three days as banks witnessed two back to back holidays on August 15, and 16. Banks across India were closed on August 15 on the occasion of the 77th Independence Day. In August, state-wise holidays include Tendong Lho Rum Faat, Independence Day, Parsi New Year (Shahenshahi), Tithi of Srimanta Sankardeva, First Onam, Thiruvonam, Raksha Bandhan, Raksha Bandhan/Sree Narayana Guru Jayanthi/Pang-Lhabsol.

16.08 / 06:43

Aware Action Celebrity Shell track Gaming apps converting earnings to crypto, Rs 700 crore moved out of India, reveals GST probe

cryptocurrency and the utilization of networks of shell companies. As per a ToI report, at the center of one of the largest such networks under investigation stands Parimatch, a Cyprus-based group, that even engages in advertising during local sports leagues on television. The Directorate General of Goods & Services Tax Intelligence (DGGI) in Mumbai has recently managed to uncover and dismantle one such network linked to Parimatch.

15.08 / 16:39

Citi Twitter stage cricket Registration begins for ICC Men’s Cricket World Cup 2023 tickets

ICC Men's Cricket World Cup 2023 tickets to secure their spot at experiencing the joy of cricket in the one-day format. The International Cricket Council (ICC) took to X, formerly known as Twitter to announce the registration for World Cup 2023 tickets.

15.08 / 15:39

COST Target Apollo’s hospitals biz to drive growth, but cost pressures may rise

₹4,418 crore. Apollo’s mainstay hospitals business saw 13% growth. The other segme-nts, Apollo Health and Lifestyle Ltd (AHLL) and Apollo HealthCo continued to improve.

15.08 / 08:17

Twitter performer social song dance Let's rise above divisions for better, brighter INDIA: Mamata Banerjee

Mamata Banerjee on Tuesday called for rising above divisions, casting aside differences, for a better and brighter INDIA. In a post on X, formerly known as Twitter, the Trinamool Congress supremo laid stress on the word INDIA, the name of the opposition bloc forged to take on the BJP in next year's Lok Sabha elections. «The chapters of our history are written in courage and resilience.

15.08 / 01:17

UPS Illumina Celebrity independence day India gears up for 77th Independence Day celebrations| In Pics

From Kolkata to Ranchi, popular monuments illumina... moreFrom Kolkata to Ranchi, popular monuments illuminated in the tricolour ahead of the 77th Independence Day celebrations.

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