Page 70 - Companies

Sebi resolves 2,838 complaints against firms via SCORES platform in March

A total of 2,838 complaints against companies and market intermediaries were disposed of through Sebi's SCORES platform in March. At the beginning of March, as many as 2,241 complaints were pending and 2,643 fresh complaints were received during the month, the data released by Sebi on Monday showed. The regulator also noted that as of March 2023, 13 complaints were pending for more than three months. These complaints were related to investment adviser, research analyst and takeover/ restructuring. The average resolution time for a complaint was 29 days, it added. In a separate public notice, Sebi mentioned eight entities against whom complaints have been pending for more than three months on SCORES as of March 2023. These entities are Research Guru, Rajiv Kumar Singh (proprietor Elite Investment Advisory Services), Grovalue Financial Services, Ankur Jain, Wealth Factor, Kaushal Mehta, Nestra Capital and Brightcom Group Ltd. SCORES is a grievance redressal system that was launche

Beauty major VLCC appoints Vikas Gupta as CEO with immediate effect

Prior to joining VLCC, Gupta was the CEO of SuperStore by Nykaa. Before that he was the chief customer and marketing officer for Flipkart between 2019-21

Tata Group to set up Air India's new ground handling business: Report

The new company may also include an aviation training academy

Registrar of Companies to crack down on law violators with new reforms

Registrar of Companies expect to conduct a more detailed analysis of transactions involving companies that draw attention due to certain regulatory concerns

Jio Platforms gets Rs 350 crore deal to run NIC's cloud services for 5 yrs

Jio has been selected to enhance NIC's national cloud services and will be deployed at the National Data Centre in Delhi, Pune and Bhubaneswar

Tata Group set to takeover of Wistron's iPhone plant in Bengaluru

India set to get its first homegrown production line for Apple products as Tata Group completes takeover in April

RIL sets sights on frozen food market, takes another bite at dairy

Move aims at competition with Amul, Mother Dairy

Adani Power commences supply to Bangladesh from Godda plant in Jharkhand

Supply was to start in March. However, Bangladesh Power Development Board had sought relief from rising imported coal prices. Unit will source coal from Adani-owned Carmichael mine in Australia

Want to make India an engineering and manufacturing hub: Legrand Group CEO

He said Legrand is planning to expand in the country, doubling down on investments and hiring about 500 people this year as well as make acquisitions

CMS Info Systems aims 3 times revenue of Rs 5,000-crore by FY30

It is looking to start new business lines like collection and recover services

South Korea to offer $5.3 bn in financing to domestic EV battery firms

South Korea will extend 7 trillion won ($5.31 billion) in financial support to domestic battery makers over the next five years to help them respond to the United States' Inflation Reduction Act (IRA)

Reliance Capital resolution process deadline likely to be extended again

Deadline for resolution process ends on April 16; matter goes under litigation as one bidder moves court

Not looking to raise funds right now, says Physics Wallah co-founder

Reports surfaced recently that the company was planning to raise $250 million in fresh funding, seeking a $3.3 billion valuation. However, Maheshwari denies that

Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges

Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday

GQG Partners sees $2 billion Adani bet delivering returns over 100%

The Adani Group lost as much as $153 billion in market value after a US short-seller accused the conglomerate of stock-price manipulation

Paytm reports quarterly GMV rise of 40% in Q4FY23, loan disbursal up 253%

The value of total loans disbursed by Paytm jumped 253% from Rs 3,553 crore in Q4FY22 to Rs 12,554 crore in Q4FY23

Iron Pillar raises $129 mn to invest in global cloud firms from India

The venture capital firm said this is the first-ever Series B / C stage fund focused on investing in global cloud software companies from India

Downturn still nascent, it is time for caution, not expansion: Zoho founder

In an exclusive interaction with Business Standard, Sridhar Vembu say the trend of large-scale layoffs in Silicon Valley has now hit Indian shores

Suzuki Motorcycle India announces appointment of Kenichi Umeda as new MD

Suzuki Motorcycle India Pvt Ltd on Tuesday announced the appointment of Kenichi Umeda as its new Managing Director. Umeda succeeds Satoshi Uchida, who has completed his term as the Managing Director of the company, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement. He will be responsible for the further growing and strengthening Suzuki Motorcycle India's position in the Indian and overseas markets. He brings with him over 27 years of valuable industry experience across various global markets, it added. India is an important market for Suzuki. Delivering innovative products and solutions that meet the evolving needs of customers has been the priority for Suzuki Motorcycle India since its inception, Umeda said about his new role.

Credit Suisse in for firestorm as shareholders get last crack at meet

Once-venerable Credit Suisse is heading into a possible firestorm Tuesday as shareholders meet for what is shaping up to be their last crack at managers following a colossal collapse of the bank's stock price over the last decade and as rival UBS is set to gobble up the 167-year-old Swiss lender at a bargain-basement price. In 2007, Credit Suisse shares fetched as much nearly 88 Swiss francs (dollars). Today, they're trading at about 80 cents. As the stock skid worsened and jittery depositors pulled their money, Swiss government officials hastily orchestrated a USD 3.25 billion takeover by UBS two weekends ago. Political leaders, financial regulators and the central bank feared a teetering Credit Suisse could further roil global financial markets following the collapse of two US banks. Crosstown competitor UBS has been known for a more conservative culture after surviving the 2008 financial crisis, thanks in part to a government bailout. The annual general meeting, the first held i