Page 3252 - Company News
Oyo to cut about 5,000 jobs in broad overhaul, highest reductions in China
The restructuring in China is in line with the global restructuring exercise announced in January 2020, said sources.
 "Oyo to cut about 5,000 jobs in broad overhaul, highest reductions in China")
Warburg Pincus is looking to exit joint venture with Embassy Group
"Warburg is not happy with the speed with which the land acquisition and development happened in the JV," said sources.
 "Warburg Pincus is looking to exit joint venture with Embassy Group")
IL&FS case: NCLAT rejects Deloitte, KPMG auditors plea against impleadment
The appellate tribunal, however, granted relief to both the auditors and other independent directors by allowing the operation of its earlier interim order passed on July 29, 2019 for two weeks.
 "IL&FS case: NCLAT rejects Deloitte, KPMG auditors plea against impleadment")
NCLAT asks CCI to probe against Flipkart over alleged unfair practices
Earlier, the CCI had absolved e-commerce major Flipkart of unfair practices using its dominant position
 "NCLAT asks CCI to probe against Flipkart over alleged unfair practices")
AGR case: Govt detaches GAIL, Oil India and other PSUs from SC order
Bharti Airtel paid Rs 10,000 crore, with Rs 27,740 crore balance remaining, he said, adding Vodafone Idea has paid Rs 3,500 crore and Rs 49,538 crore remained due
 "AGR case: Govt detaches GAIL, Oil India and other PSUs from SC order")
Culinary Culture to provide Michelin Star-like ranking for Indian chefs
Everstone co-founder Sameer Sain, renowned Chef Gaggan Anand and veteran journalist Vir Sanghvi to create Michelin Star-like rankings for chefs, restaurants.
 "Culinary Culture to provide Michelin Star-like ranking for Indian chefs")
Paytm employee in Gurgaon tests positive for coronavirus: Company statement
The employee had recently returned from a vacation in Italy, one of the worst-hit countries from coronavirus.
 "Paytm employee in Gurgaon tests positive for coronavirus: Company statement")
Stanza Living enters housing for working professionals, commits Rs 150 cr
The firm currently has a combined capacity of 10,000 beds spreading across Bengaluru, Hyderabad, Pune and Coimbatore for this new segment
 "Stanza Living enters housing for working professionals, commits Rs 150 cr")
Cabinet approves proposal for overseas listing of Indian companies
Corporate Affairs Secretary Injeti Srinivas said the Act would have an enabling provision for listed as well as unlisted companies in India to list their shares abroad.
 "Cabinet approves proposal for overseas listing of Indian companies")
SBI Cards IPO subscribed 15.15 times so far on third day of bidding
SBI Cards expects to raise around Rs 10,355 crore through the IPO
 "SBI Cards IPO subscribed 15.15 times so far on third day of bidding")
Companies in India to give average 7.8% salary hike in FY21: Deloitte
The survey found that almost 50% of the companies surveyed are projecting a salary increment of less than 8% for 2020-21 and only 8% companies are expecting to offer pay increases greater than 10%.
 "Companies in India to give average 7.8% salary hike in FY21: Deloitte")
L&T bags significant orders from Oman to develop water infrastructure
The company did not provide the value of the contract, but said the order falls under the 'significant' category
 "L&T bags significant orders from Oman to develop water infrastructure")
GSPC seeks six LNG cargoes for March to November delivery: Report
It is also seeking five cargoes for delivery over April to November, also on a DES basis, in a separate tender that closes on March 4
 "GSPC seeks six LNG cargoes for March to November delivery: Report")
Govt to allow telecom firms to defer payments of future spectrum auctions
Meanwhile, the Department of Telecom is preparing to issue fresh notices to telecom companies asking them how they had calculated their dues linked to AGR
 "Govt to allow telecom firms to defer payments of future spectrum auctions")
Strides Pharma Science gets USFDA nod for generic anti-bacterial capsules
The product is a generic version of Achromycin V Capsules, 250 mg and 500 mg, of Avet Pharmaceuticals (previously Heritage Pharmaceuticals)
 "Strides Pharma Science gets USFDA nod for generic anti-bacterial capsules")
NCLAT dismisses Deloitte, KPMG pleas against impleadment in IL&FS case
A two-member NCLAT bench led by Chairman Justice S J Mukhopadhaya dismissed the pleas of auditors and other independent directors
 "NCLAT dismisses Deloitte, KPMG pleas against impleadment in IL&FS case")
Delhi HC seeks response of Centre, DGCA, IndiGo, on grounding of A320neo
The plea has alleged that despite being aware of "significant technical issues with Airbus A320neo," neither MCA nor the DGCA have taken any concrete steps to ground these aircraft
 "Delhi HC seeks response of Centre, DGCA, IndiGo, on grounding of A320neo")
Coronavirus: Airfares to China, Italy drop by 20-30%, says Yatra.com
Travellers are now looking at alternate foreign destinations from India, such as Sri Lanka and Bhutan for summer travel
 "Coronavirus: Airfares to China, Italy drop by 20-30%, says Yatra.com")
AGR dues paid by telcos to reflect in FY20 revenue receipts: Report
Officials said the amount was not much to have any bearing on the fiscal position
 "AGR dues paid by telcos to reflect in FY20 revenue receipts: Report")
Coronavirus forces Google to cancel its annual developer conference
Google becomes the second FAANG member after Facebook Inc to cancel its conference as the virus, that originated in the Chinese city of Wuhan, spreads globally
 "Coronavirus forces Google to cancel its annual developer conference")