Top headlines: Apple's India plans, raw material crunch for vax maker, and more

Apple to soon make iPhone 12 in India, shift 7-10% of capacity from China

iPhone 12, according to sources in the know, will be manufactured at the Hon Hai Precision Industry (Foxconn) facility in Tamil Nadu — both for the domestic as well as well as the export market. The unit also manufactures iPhone 11, which is the bestseller in India, as well as iPhone XR. Read more

Suspension of IBC proceedings may not be extended beyond March 24

With just about a fortnight left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely. An extension may not be economically desirable as it hampers the restructuring prospects for stressed companies, according to senior officials. Also, it would be a challenge to amend the law in such a short time. Read more

Inside Ola's mega factory, India's potential answer to Elon Musk's Tesla

Bhavish Aggarwal-led Ola Electric's Rs 2,400 crore unit is equal to about 378 football fields and is being built at record-breaking speed to become the world's largest two-wheeler plant. When compared to Elon Musk’s Tesla Gigafactory in Nevada, US, Ola's factory building is about two-thirds of that. Read more

Raw material shortage may affect scaling up of Covishield production

The shortage of raw materials may affect the scaling up of the production of the Oxford-Astra­Ze­neca (Covishield) vaccine by the Pune-based Serum Institute of India (SII). SII, the world’s largest vaccine maker by volume, is currently producing around 67-70 million doses of Covishield vaccine per month. Read More
 

Share of women in boardrooms up for eighth year in a row, shows data

Men held three independent director posts for every similar office occupied by a woman, according to the latest data. This is a significant improvement over March 2013 when men held 18.7 posts for every one held by a woman. Read more

Govt proposes to hike in LIC's authorised capital to Rs 25,000 cr

The government has proposed to significantly increase the authorised capital of Life Insurance Corporation of India (LIC) to Rs 25,000 crore to facilitate its listing slated for the next fiscal. Currently, the paid-up capital of the life insurance company with over 29 crore policies is Rs 100 crore. Starting with an initial capital of Rs 5 crore in 1956, LIC has an asset base of Rs 31,96,214.81 crore. Read more
 

Post-pandemic reality: Ad rates go up by 10-15% for IPL's 14th edition

 

The 14th edition of the Indian Premier League (IPL) starts April 9, and the excitement surrounding the T20 tournament is growing. Broadcaster Star Sports has raised ad rates for the IPL by 15-20 per cent this year, compared to last year. Digital and mobile-led products and services have strengthened their presence, with smartphone player Vivo returning as the title sponsor of the tournament. Read more

Cairn wants India to pay $1.4 bn, shareholders to seek enforcement

Cairn has already moved courts in the US, UK, Netherlands, Canada, France, Singapore, Japan, UAE and Cayman Islands to get the December 21 international arbitration tribunal award registered and recognised - the first step before it can seek seizure of the Indian government assets such as bank accounts, payments to state-owned entities, aeroplanes and ships in those jurisdictions, in case New Delhi does not return the value of the shares seized and sold, dividend confiscated and tax refund stopped to adjust a Rs 10,247 crore tax demand raised using retrospective legislation. Read more