The Bombay High court on Tuesday temporarily restrained Zee Entertainment Enterprises' top investor Invesco from calling a shareholder meeting. More on that story in out top headlines this evening.
Indian AMCs log highest-ever profit in FY21
Indian asset management companies (AMC) logged their highest-ever net profit this financial year when equity markets surged, investments flowed and expenses fell.
Companies reported combined profits of Rs 6,859 crore for the 12-month period ended March 2021, according to data compiled by mutual fund tracking firm Value Research. The amount was 31 per cent higher than Rs 5,232 crore in the last financial year. Read more
Relief for Zee Entertainment founders
In a reprieve to the founders of Zee Entertainment Enterprises, the Bombay High Court today restrained Zee from holding the extraordinary general meeting of its shareholders which was called by its largest shareholder, Invesco. Zee had sought injunction against Invesco's request to call a shareholders meeting to oust its present MD and CEO, Punit Goenka, and appoint six of its nominees on the company’s board. Read more
Nearly 65% of infrastructure projects delayed by Covid-induced lockdowns
As many as 563 central sector infrastructure projects, comprising 65 per cent of the total 862 having definite timelines, were running behind schedule as on October 1 this year due to Covid-induced lockdowns in states and delays in land acquisition among other factors, official data showed. The projects taken up for monitoring cost at least Rs 150 crore.
On the other hand, only 287 projects, accounting for 33 per cent of the total, had time overruns. Only 12 projects were ahead of schedule. Read more
No bail for Aryan Khan yet
The Bombay High Court will continue on Wednesday hearing on a bail plea filed by Aryan Khan, Bollywood actor Shah Rukh Khan's son, arrested in a case of alleged seizure of narcotic drugs from a cruise ship off the Mumbai coast earlier this month.
Aryan Khan's lawyers Mukul Rohatgi and Satish Maneshinde argued that the Narcotics Control Bureau (NCB) has no evidence against the 23-year-old, and he was wrongly arrested and has been kept in jail for over 20 days. Read more
Dabur withdraws ad on Karwachauth
Homegrown FMCG player Dabur has withdrawn its advertisement on Karva Chauth showing a lesbian couple celebrating the festival in the ad campaign of its Fem Creme bleach and has issued unconditionally apology.
After facing backlash on social media platforms and also from a politician from the ruling BJP, the company has withdrawn the ad campaign. Read more