City Mumbai Financial News

National Company Law Tribunal in Mumbai has dismissed the Bank of Maharashtra’s application to initiate insolvency resolution proceedings against the personal guarantors of Gopal Krishna Oil Tech Industries Pvt. Ltd. The bankruptcy court, while dismissing the application observed that the lender had approached the tribunal beyond the period of the limitation. The division bench of Justice VG Bisht and a technical member Prabhat Kumar, while dismissing the lender’s application observed that the guarantees issued by personal guarantors stood invoked on April 3, 2018, and the amount due from the personal guarantees (PGs) became due and payable within 60 days from the date of receipt of the notice and becomes in default of the nonpayment of the amount stated in the notice after expiry of 60 days.

Mumbai: Congress leader Rahul Gandhi on Thursday took on Prime Minister Narendra Modi over his apology after a statue of the warrior king Shivaji at Malvan in Maharashtra's Sindhudurg district collapsed last month. Gandhi, who was in Sangli for a Congress party programme, said the collapse of the statue was an «insult» to the memory of Chhatrapati Shivaji and that the PM should apologise to every person in Maharashtra for the incident.

Ola S1 Pro can take advantage of a direct discount of ₹5,000, applicable in a wide range of locations, including Karnataka, Gujarat, Odisha, Maharashtra, Madhya Pradesh, Kerala, and Chhattisgarh. Other cities where this discount can be availed include Bengaluru, Mumbai, Delhi NCR, Jaipur, Nagpur, Nashik, Kolkata, Chandigarh, and more.The S1 X (4 kWh variant) and S1 X+ are also part of the festive price cuts, with a similar ₹5,000 markdown.

shevala (dragon stalk yam) a wild stalk is made into a meaty, spicy curry and phodshi (safed mulshi), a wild grass, cooked with coarsely ground chana dal into a delectable sabzi. Both dishes are family favourites, the recipes for which are culinary heirlooms, passed down through generations. “We wait the whole year for these vegetables to show up in the market.

Sebi employees on Thursday gathered around the headquarters of the markets regulator in Mumbai and staged a silent protest demanding the withdrawal of Wednesday's statement blaming «external forces» for the protest and also sought the resignation of their boss Madhabi Puri Buch. After The Economic Times reported that Sebi officials made an unprecedented complaint to the finance ministry last month and accused the top leadership of fostering a toxic work culture, the regulator issued a press release on Wednesday evening saying that HRA (house rent allowance) issues of staff are being misguided by external elements to target credibility of Sebi and its leadership.

Prestige Estates Projects Ltd has raised Rs 5,000 crore by selling equity shares to institutional investors through private placement. The company had on August 29 launched its Qualified Institutional Placement (QIP) to raise funds. In a regulatory filing on Wednesday, Prestige Estates informed that a fundraising committee of the board approved the allocation of 2,98,68,578 equity shares at an issue price of Rs 1,674 apiece to eligible institutional investors.

For the first time ever, India’s real estate market has been categorized as ‘transparent’ by the Global Real Estate Transparency Index, compiled by property advisory JLL every two years. Mint explains the index and India’s position. Launched in 1999, and conducted every two years, it categorizes real estate markets into five tiers—highly transparent, transparent, semi-transparent, low transparency and opaque.

strike by Maharashtra State Road Transport Corporation (MSRTC) employees was called off on late Wednesday evening following government's assurance of a salary hike, union leaders said, providing a relief to passengers planning travel during the ensuing Ganesh festival. An action committee of trade unions representing employees of the state-run corporation announced an end to the strike after a meeting with Chief Minister Eknath Shinde, who agreed to give a Rs 6,500 per month hike in basic salary to MSRTC staffers, fulfilling their main demand. The hike will come into effect retrospectively from April 2020, said a release from the Chief Minister's Office (CMO). «We are calling off our agitation as the chief minister has assured a salary hike to MSRTC employees,» Sandeep Shinde, a leader of the Maharashtra ST Kamgar Sanghtana, told PTI, after the meeting with Shinde.

Ganesh Chaturthi, one of the most significant Hindu festivals, will be observed on Saturday, September 7, 2024. The festival, celebrated with great fervor across India, marks the birthday of Lord Ganesha, the deity of wisdom and prosperity. Devotees engage in various rituals, including Puja and offering Bhog, to seek the blessings of Lord Ganesha for a prosperous and obstacle-free life.

Sebi chief Madhabi Puri Buch. In an X post on September 4, Mumbai Congress took note of Sebi's «internal rot». It is shocking to see Sebi's internal rot exposed by its own employees, the post read. «Allegations of a 'toxic work culture' under Madhabi Puri Buch, with accusations of shouting, fear-driven policies, and regressive practices, raise serious concerns,» it further said.

reading glasses. Mumbai-based Entod Pharmaceuticals announced the final approval for PresVu eye drops, with plans to launch the product in the domestic market in the first week of October.

Ventive Hospitality, a joint venture between the world's largest private equity firm Blackstone Group and Pune-based Panchshil Realty, is looking at filing a draft prospectus for an initial public offering in the next couple of weeks, according to sources close to the development. The JV, which could be the largest international multi-brand hotel owner in India by Ebitda, plans to raise around ₹2,500 crore through a fresh issue of shares.

Oberoi Hotels pastry chef Kainaz Messman, had launched the sale process in January, after its private equity backer ICICI Venture decided to exit its investment. The company appointed investment bank Arpwood Partners to line up buyers. “The real negotiations will begin now.

Mint has reviewed the company’s policy. According to the policy named “Rhythm," employees are categorised into three sections - those who have to work from the office five days a week, those who work at client office locations, and those with a hybrid work setup who have to work from an LTIMindtree location for at least two days a week. Employees are mapped into these categories based on the nature of the work and business requirements.

IndiGo on Monday has started to operate 35 flights from the new building of the Terminal 1 of Delhi’s Indira Gandhi International Airport, reported TOI. Operations from the terminal were smooth, said officials. IndiGo and Spicejet have now partially shifted their operations at T1. «Flight operations were smooth after 35 IndiGo departures were shifted to the new T1 from Monday,» said an airport official.

Mumbai airport have faced significant disruptions due to ongoing conflicts between two rival unions, affecting baggage handling and causing delays for passengers. The dispute centers around the allocation of wheelchair attendant jobs, a highly coveted task among airport loaders.

AIPL plans to take the rental portfolio to nearly 5 million sq ft with multiple retail and office complex under construction, a senior executive said. Majority of the company’s commercial project are in Delhi-NCR while some are in Punjab as well. The company currently operates 1.4million sq ft and by Q2 2025, two projects, AIPL Statement and AIPL Autograph having total leasable area of 3.5 million sq ft would be ready.

How To Become Famous, to become successful, “some people… need to get attached, to the… mood of the nation." Salim-Javed did that with their angry young man. As the actor Sharat Saxena recalls: “It was the 70s… The anger and the fire that burned inside this hero was the same fire that raged within every young man." This is where the documentary peaks on this concept and then moves on. However, Akhtar offers this disclaimer: “We were unaware of all this while writing." A nice segue could have explained how the term ‘angry young man’ emerged.

Raymond Ltd. is looking to list its apparel and real estate units by the end of 2025 as the founders look to boost shareholder value. The group, which oversees a motley mix of businesses ranging from engineering, aerospace to fashion and realty, will have three listed entities by next year, after Raymond Lifestyle Ltd. starts trading in Mumbai on Thursday and the real estate unit gears up for a 2025 listing, Chairman Gautam Hari Singhania said in an interview.

AP Dhillon's house on Victoria Island in Canada's Vancouver, leading the singer to assure fans that he is safe. This incident occurred soon after Dhillon released a music video featuring actor Salman Khan. Rohit Godara, a member of the Lawrence Bishnoi gang, has claimed responsibility for the shooting, accompanied by death threats to the singer. «I'm safe, My people are safe. Thank you to everyone who reached out to me. Your support means everything,» AP Dhillon stated on Instagram. The shooting incident involved two locations in Canada — Victoria Island and Woodbridge, Toronto, according to an unverified post purportedly made by Rohit Godara. He claimed he targeted Dhillon's house due to the singer’s collaboration with Salman Khan in a music video.

Mumbai: The demand for ‘crisis consultants’ is on the rise, as companies scramble to address regulatory diktats, cybersecurity scares and climate events, according to consultants and lawyers who spoke with Mint. A person from a Big 4 consulting firm, who requested not to be named, said the firm is looking to have close to 2,000 people in its crisis team, more than double the current strength. Experts said that the time to resolve a crisis has shrunk from three-four weeks to a few days currently, as teams have access to AI and data solution methods for quick resolution.