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Venu Srinivasan quits Bai Hirabai Charitable Trust after eligibility objections, Mehli Mistry seeks probe into alleged irregularities and violations of trustee rule Venu Srinivasan has stepped down from the Bai Hirabai Charitable Trust following objections over his eligibility to serve as a trustee. The trust is one of the smaller entities under the umbrella of Tata Trusts. According to the CNBC-TV18 report the objections were raised by former trustee Mehli Mistry, after which Srinivasan chose ...Read More >
India raised aviation turbine fuel (ATF) prices for domestic scheduled carriers across metros from April 1. The government said ATF prices were expected to surge over 100% due to global disruptions, but OMCs passed on only a 25% staggered hike to domestic airlines to limit the impact on fares, while non-scheduled operators and charters bear the full increase.The price of aviation turbine fuel (ATF) for domestic scheduled airlines has been increased across metro cities effective April 1, though t ...Read More >
Mumbai: Former HDFC Bank part-time chairman and independent director Atanu Chakraborty has revealed that his resignation on March 18 was driven by ethical concerns, not personal conflicts. Speaking to CNBC-TV18 on March 30, he clarified that the decision was based on a difference in understanding of values and ethics. Concerns Over Governance and Systems Chakraborty raised serious questions about the bank's governance practices. He said independent directors are responsible not just for review ...Read More >
MUMBAI, March 30 (Reuters) - India's HDFC Bank (HDBK.NS), opens new tab delayed taking action against officials involved in the mis-selling of additional tier 1 bonds to investors in Dubai, Atanu Chakraborty, the former chairman of the lender told CNBC-TV18 in an interview broadcast on Monday. Chakraborty abruptly resigned from the bank's board earlier this month, citing differences over "values and ethics" and triggering a stock selloff and a damage control exercise by the lender. HDFC Bank t ...Read More >
MUMBAI: CNBC has unveiled a refreshed brand identity across its India network, introducing a new logo and visual system that reflects a more modern, digital-first direction. The rebrand was officially revealed at the India Business Leader Awards held in Mumbai on March 14, marking the first public showcase of the updated design at one of the network's most prominent platforms. The overhaul is among the most visible brand updates for CNBC in recent years, aimed at aligning its look and feel wit ...Read More >
Akzo Nobel India shares: Imperial Chemical Industries may sell up to a 9% stake via a block deal. The proposed transaction is estimated at about Rs 1,290.6 crore and is said to be priced at Rs 3,150 per share, a 13.1% discount to the current market price, which could trigger notable stock movement. Shares of Akzo Nobel India are expected to be in the spotlight on Wednesday, December 17, amid reports that Imperial Chemical Industries is likely to offload up to a 9% stake in the company through a ...Read More >
In a major shake-up at the Tata Trusts, Mehli Mistry -- once considered a close confidant of Ratan Tata -- is set to exit the apex charitable bodies after chairman Noel Tata, vice chairman Venu Srinivasan and trustee Vijay Singh declined to approve the renewal of his term, people familiar with the matter said. In a dramatic turn at the Tata Trusts, Mehli Mistry -- once regarded as one of Ratan Tata's closest confidants -- faces potential ouster after chairman Noel Tata, vice chairman Venu Srini ...Read More >
Bhubaneswar: Tata Steel faces a financial challenge in Odisha after local authorities made a demand of Rs 2,411 crore. The office of Deputy Director of Mines, Jajpur, has sent the demand letter to Tata Steel over an alleged shortfall in chrome ore dispatch from its Sukinda Chromite Block for the fifth year of operations, spanning July 23, 2024, to July 22, 2025. Officials have alleged that the company did not meet dispatch obligations at its Sukinda mine under the Mine Development and Producti ...Read More >
Adar Poonawalla exploring bid for RCB? sparks speculation with X post According to a source of CNBC-TV18, Adar Poonawalla, the CEO of Serum Institute of India, was in negotiations with Diageo Plc, the owners of Royal Challengers Bengaluru (RCB), to potentially purchase the Indian Premier League's (IPL) 2025 champion. It is still unclear at this time whether Diageo Plc intends to sell all of its shares in RCB. United Spirits is owned by Diageo Plc. Also Read | 'Senseless and headless chicken m ...Read More >
The Indian rupee (INR) plunged to near its all-time weakest level on Monday, weighed down by sustained foreign portfolio investor (FPI) outflows and strong corporate demand for US dollars. The INR settled at 88.76 against the US dollar, just shy of last week's all-time low of 88.7975 against the greenback. The Indian currency opened slightly higher, but steadily weakened throughout the trading session. India's public sector banks intervened with dollar sales, likely under the guidance of the Re ...Read More >
Aug 20 (Reuters) - Indian miner Vedanta's (VDAN.NS), opens new tab demerger is facing objection from the federal government, CNBC-TV18 reported on Wednesday, after the company received, opens new tab a warning from the markets regulator for non-compliance. Shares of the company fell 2.4% to hit session's low after the report. Vedanta, led by billionaire Anil Agarwal, aims for a sweeping overhaul to carve itself up into multiple separate businesses, in a move aimed at shoring up the group's fin ...Read More >
New Delhi: Dilip Piramal, Chairman of VIP Industries, said on Monday that his family's younger generation isn't interested in running the business. This came right after the company told stock exchanges that promoter group entities are planning to sell a 32 percent stake to a group of private equity investors and others. "We are a family-owned business, and the next generation is not very keen on running it," Piramal told NDTV Profit. "In all our 53 years of existence, VIP has been the market ...Read More >
WeWork India's public issue is back on track. The Securities and Exchange Board of India (SEBI) has removed the coworking major's draft IPO papers from its abeyance list and is now actively re-evaluating the company's DRHP, according to an update on SEBI's website. This development comes more than three months after the regulator had put the listing bid on hold. In SEBI parlance, keeping a DRHP "in abeyance" typically signals a pause pending further clarification, investigation, or regulatory a ...Read More >
New Delhi [India], July 4 (ANI): SpiceJet on Thursday acknowledged that some passengers are currently facing difficulties in reaching the airline's customer care helpline due to intermittent technical issues. The airline said efforts are underway to restore normal functioning as soon as possible. In an official message on X, SpiceJet stated, 'We are currently experiencing intermittent issues with our SpiceJet Customer Care helpline numbers. We assure you that our relevant teams are working to r ...Read More >
Mumbai: Lenders to Vodafone Idea Ltd are worried that the telecom operator which is trying to borrow ₹35,000 crore more may prioritize paying its government debts over its new bank loans, a person aware of the matter said. Their concern centres around the company's ability to sustain loan repayments on the proposed loans if Vodafone Idea has to pay the adjusted gross revenue (AGR) dues to the government. The weakest player in India's telecom landscape has been steadily posting losses since FY17 ...Read More >
New Delhi: In a major move that promises to make air travel more accessible for the common man in India, Zomato co-founder Deepinder Goyal has announced his entry into the aviation industry. According to a report by CNBC TV18, Surbhi Das, co-founder of LAT Aerospace, in her Linkedin post said that the two have been quietly working on a new aviation startup for some time. The motive behind the move is to provide affordable and high-frequency air services to people in smaller cities across the co ...Read More >
Calls for opening up the insurance sector to higher foreign investment limit are getting louder, and necessary legislative steps in this regard could be taken during the ongoing Winter Session of Parliament. The foreign direct investment (FDI) limit in the insurance sector will likely be raised to 100% from 74%, CNBC-TV18 reported on November 26, citing sources who wished not to be identified. The channel also reported that insurance companies will possibly be allowed composite licences, with ...Read More >
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