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The buyer, which had already completed their operational due diligence and agreed head of terms for the transaction, will continue to pursue other funding options, the trust said in a stock exchange notice today (21 November). In June, the SOHO board said that it had agreed heads of terms on a portfolio sale at an aggregate value in excess of £20m, with completion expected prior to the release of the interim results in September. However, the date for the expected completion of the deal was moved to November to allow for enough time for the buyer's debt funder to «finalise their proce...

Subscribe to enjoy similar stories. Two whistleblower complaints flagging financial impropriety at a small New York Stock Exchange-listed company marked the start of a two-year probe by the US government into the Adani group.

BEML on Thursday said it has secured an order worth Rs 246.78 crore from Central Coalfields Ltd (CCL) for the supply of rear dump trucks which are used in mining operations. As part of the order, BEML said it will supply 48 BH60M rear dump trucks, along with spares, and also provide after-sales service support. «BEML has secured a substantial order worth Rs 246.78 crore from Central Coalfields Limited (CCL),» it said. The trucks have been developed in-house with features like a 360-degree rear camera for comprehensive visibility and improved safety, an automatic fire suppression system for emergency preparedness, and an auto lube system to ensure seamless maintenance, BEML said in a statement.

The offer will consist entirely of a fresh issuance of 40,86,400 equity shares, each with a face value of Rs 10, via the book-building route.

Ajmal Kasab was given a fair trial in our country, the Supreme Court on Thursday remarked and indicated it may set up a courtroom inside Tihar Jail for the trial of Yasin Malik in a kidnapping case. A bench of Justices Abhay S Oka and Augustine George Masih was hearing a CBI plea against the September 20, 2022 order of a Jammu trial court that directed Malik, serving life term in Tihar jail, to be produced before it physically to cross-examine the prosecution witnesses in the kidnapping case of Rubaiya Sayeed, daughter of politician Mufti Mohammad Sayeed. The bench, however, remarked, «How will cross-examination be done online? There is hardly any connectivity in Jammu… In our country, a fair trial was given even to Ajmal Kasab and legal assistance was given to him in the high court.» The bench told Solicitor General Tushar Mehta, representing the CBI, to take instructions on the total number of witnesses in the case.

Adani Enterprises, which plunged 20% on Thursday after billionaire Gautam Adani and seven others faced charges in the United States in a multibillion-dollar bribery and fraud scheme, were among the top largecap picks of mutual funds last month. Mutual funds added around 46 lakh shares of Adani Enterprises in their portfolio in October as the number of shares went up from 2.5 crore in September to around 2.96 crore, according to a report by Nuvama Alternative & Quantitative Research. Adani Enterprises Quant Mutual Fund added around 66.61 lakh shares of this stock whereas Invesco Mutual Fund sold around 7.57 lakh shares of Adani Enterprises.

Subscribe to enjoy similar stories. A Chinese ship that sailed over two severed data cables in the Baltic Sea around the time they were cut has been stopped by the Danish navy as part of an international investigation into what police say is a possible act of sabotage.

Chief of Staff position, sparking widespread criticism online. The posting shared on Goyal's X account, specified that candidates would need to pay Rs 20 lakh for the first year of the role, with no salary offered during this period. The Rs 20 lakh payment, however, would be directed as a donation to Feeding India, Zomato’s non-profit initiative. Additionally, Zomato pledged to contribute Rs 50 lakh to a chosen charity by the candidate.

Sensex and Nifty 50, opened in the red on Thursday, weighed down by declines in Adani stocks following the indictment of Adani Group’s billionaire chairman in New York, over his alleged involvement in a multibillion-dollar bribery and fraud scheme. The BSE Sensex was trading 765 points, or 1%, lower at 76,813. The Nifty50 was down 218 points, or 0.93%, trading at 23,299 around 9:42 am.

Subscribe to enjoy similar stories. Some countries have greeted Donald Trump’s election with despair. In India, the dominant feeling is hope.

Gautam Adani, the billionaire chair of Indian conglomerate Adani Group and one of the world's richest people, has been indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme, U.S. prosecutors said on Wednesday. Authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain solar energy supply contracts expected to yield $2 billion of profit over 20 years. According to an indictment, some conspirators referred privately to Gautam Adami with the code names «Numero uno» and «the big man,» while Sagar Adani allegedly used his cellphone to track specifics about the bribes. Prosecutors also said the Adanis and another executive at Adani Green Energy, Vneet Jaain, raised more than $3 billion in loans and bonds for that company by concealing the corruption from lenders and investors.

direct mutual fund distributors like Groww grab market share, traditional offline financial distributors are increasingly searching for their own technology stack to remain relevant and grow. Chennai-based AssetPlus and Gurugram’s ZFunds are tapping into that opportunity. They are working with these offline agents, providing them with a technology stack to help them offer the best investment advice and products to their clients. Venture funds are opening up to backing them too. According to two people in the know, ZFunds is in talks with Elevation Capital to lead a Rs 25 crore equity funding round, which will be its first institutional funding round.

Vedanta Resources (VRL) plans to raise $1.2 billion in the near term through senior unsecured notes to refinance existing debt and improve its financial position. The company is in talks with investors to raise $500 million in the coming weeks through a bond issue to partly refinance $606 million of outstanding 13.875% notes maturing in 2028. This is a re-tap of the bonds raised in September and the instrument is likely to be priced around 10.2%, where the bond is trading.

security checks, officials told ET. IGI Airport will build a separate, temporary enclosure for passengers stranded due to the take-off delays — expected in fog season this winter — as the Centre tweaks a key security-related rule to ease the pain of travellers and airlines. The proposed changes to the security protocol will allow the airlines to optimally use slots at India’s busiest aviation hub, saving critical time in a season when foul weather often drastically shortens effective operating hours.

Adani Green Energy, India's largest private sector renewable power company, on Wednesday raised $600 million through a 20-year bond, sources close to the development told ET. This issue comes a month after the group postponed a $1.2-billion bond offering as some investors differed over pricing of the instruments. ET reported on Monday the company would be raising $600 million through a bond issuance.

Subscribe to enjoy similar stories. A perceived small change by the market regulator to strengthen the index derivatives framework may have a larger-than-anticipated impact on option trading volumes when it is applied on Thursday for the first time at the expiry of the weekly Nifty options contracts, market experts said.

Subscribe to enjoy similar stories. State-run Energy Efficiency Services Ltd (EESL) plans to sell its 49% stake in IntelliSmart Infrastructure Pvt. Ltd, its joint venture with National Investment and Infrastructure Fund Ltd (NIIF) for smart metering and digital solutions, two people aware of the development said.

U.S.-China Economic and Security Review Commission has raised alarms about China's military capabilities, suggesting that the nation poses a significant threat to US interests in the Indo-Pacific region. The comprehensive 793-page document, which draws from both classified and unclassified sources, indicates that China's military might now has the potential to outmatch U.S. forces in a future regional conflict. The report highlights that Beijing's military expansion over the past two decades has focused on developing a formidable arsenal of missiles, ships, aircraft, and advanced systems designed for potential conflicts in the Indo-Pacific. «It warns that, as result, US. forces and bases in the region would face a significant threat from the [People’s Liberation Army] in any regional contingency involving treaty allies and/or security partners, and the outcome of any such conflict is far from certain.» Despite the evident military advancements, the report notes that while China is bolstering its military readiness, it does not currently believe that an armed conflict is imminent. “There is ample evidence that China’s armed forces are enhancing their general military preparedness, but little evidence they are mobilizing for an imminent conflict at this time,” the report states.

One of the world’s richest people has been indicted in the U.S. on charges he duped investors in a massive solar energy project in India by concealing that it was being facilitated by an alleged bribery scheme

The founder of Archegos Capital Management, a hedge fund, has been sentenced to 18 years in prison for his conviction in a securities and market manipulation fraud that prosecutors say cost global investment banks billions of dollars