 "News digest: Govt cracks the whip on LLPs, India's first monorail, and more")
After targeting over 200,000 shell firms, govt is trying to weed out LLPs
After striking over 200,000 ‘shell’ firms off the records, the government is now trying to weed out limited liability partnerships (LLPs).
The Ministry of Corporate Affairs has sent notices to 7,775 LLPs for not filing annual returns for at least two consecutive years, according to officials. Read More
Piramal plans big splash in consumer products biz, eyes Rs 10 bn revenue
With its non-compete agreement with Abbott ending next month, Piramal’s consumer products division has drawn up elaborate plans to expand its existing portfolio as well as acquire brands that have the potential for over-the-counter (OTC) switches.
OTC business plans are part of the company’s broader strategy to enter the domestic pharmaceutical formulations market. Read More
Govt to pump Rs 113 bn into 5 PSBs to meet regulatory capital requirements
The government has decided to infuse Rs 113 billion into five public sector banks, including Punjab National Bank, to help them meet regulatory capital requirements, according to sources.
The capital infusion will be part of the Rs 2.11-trillion recapitalisation plan for public sector banks announced by the government last year. Read More
UTI AMC board clashes over appointment of managing director and CEO
The stand-off between principal shareholders of UTI Asset Management Company (AMC) has escalated over the appointment of managing director (MD) and chief executive officer (CEO).
The largest shareholder, T Rowe Price group, wants current chief Leo Puri to continue, while the other four domestic shareholders led by Life Insurance Corporation (LIC) are keen on appointing a new CEO. Read More
India's first monorail in Mumbai goes off track, idle for past one year
India's first monorail, which came up in Mumbai at Rs 25 billion, has been lying abandoned and unused since last year - a fact that may dampen the enthusiasm for experimenting with different forms of rail-based urban transport system.
Industry experts observe that though such advanced transit systems have great utility, Indian cities may not be ready for them. Read More
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%