Category: Business & Economics

While Adi Godrej and his brother Nadir have kept the Godrej industries which has five listed firms and cousins Jamshyd and Smita have got the unlisted Godrej & Boyce and its affiliates as well as a land bank, including prime property in Mumbai, according to a statement issued by the group. The 127-year-old conglomerate Godrej Group has been split between two branches of the founding family, with Adi Godrej (82) and his brother Nadir (73) on one side and their cousins Jamshyd Godrej (75) and Smita Godrej Crishna (74) on…

In a setback to Go First, the Delhi High Court has directed the Director General of Civil Aviation (DGCA) to begin the process of de-registration of aircraft leased to the bankrupt airline. The matter was heard by a bench comprising of Justice Tara Vitasta Ganju. During the hearing, the court disposed the batch of pleas by the lessors and directed the DGCA to process the the deregistration applications filed by these lessors. The lessors involved in the case are – Pembroke Aircraft Leasing 11 Limited, SMBC Aviation Capital Limited, Accipiter…

The RBI has taken decisive action against Kotak Mahindra Bank, barring the institution from onboarding new customers online and issuing fresh credit cards, effective immediately. The decision comes on the heels of significant concerns arising from the RBI’s IT examinations of the bank for the years 2022 and 2023, exacerbated by the bank’s perceived failure to adequately address these issues in a timely manner. According to the RBI’s release, Kotak Mahindra Bank exhibited notable deficiencies in IT inventory management, patch and change management, user access management, vendor risk management, data…

The CAG has formalized a MoU with SAI Bulgaria to fortify international collaboration and bolster the exchange of knowledge. The MoU signed by the respective Supreme audit institutions, heralds a new chapter in bilateral relations, focusing on enhancing cooperation and sharing expertise in the realm of auditing. Girish Chandra Murmu, the CAG of India, voiced his confidence in the partnership, emphasizing its potential to strengthen bilateral ties. Goritsa Grancharova – Kozhareva, Acting President of the Bulgarian National Audit Office, emphasized the importance of leveraging collective expertise to drive continuous improvement…

Air India suspends flights to Tel Aviv amid rising Israel-Iran tensions. Indian carrier suspends flights till April 30, 2024. Air India’s decision aligns with similar actions undertaken by other international carriers amidst the escalating tensions. Air India remains steadfast in its commitment to monitoring the situation closely and adapting its operations accordingly. Air India recommenced flights to Tel Aviv on March 3 after five months. As geopolitical tensions between regional powers Israel and Iran escalate, Air India, a prominent carrier in the Indian aviation landscape, has opted for a proactive…

In the dynamic landscape of India’s employment sector, where challenges like mass layoffs and the integration of generative AI loom large, LinkedIn’s annual compilation of top employers emerges as a guiding light for professionals seeking stability and growth in their careers. This year’s report, unveiled by the professional networking platform, showcases companies that not only weather the storm but also prioritize employee experiences and professional development. Navigating Change: As organizations navigate the tumultuous waters of change, adaptation strategies become paramount. Pooja Chhabria, a career expert at LinkedIn, highlights how leading companies…

Campaigning for the Lok Sabha elections 2024 is in full swing with the voting in the first phase set to begin on April 19. The track record of the government on the issue of economy comes into the spotlight during the general elections. From economic development to mehengai, both the ruling party and opposition address these issues in hopes to get votes in their favour. While Narendra Modi-led National Democratic Alliance (NDA) claims 10 years of strong growth, reforms and development, the Indian National Developmental Inclusive Alliance (INDIA) is hoping…

The Central Board of Direct Taxes (CBDT) has entered into a record 125 Advance Pricing Agreements (APAs) in FY 2023-24 with Indian taxpayers. This includes 86 Unilateral APAs (UAPAs) and 39 Bilateral APAs (BAPAs). This marks the highest ever APA signings in any financial year since the launch of the APA programme. The number of APAs signed in FY 2023-24 also represents a 31% increase compared to the 95 APAs signed during the preceding financial year. With this, the total number of APAs since inception of the APA programme has…

Yoga guru Ramdev and his aide Balkrishna were in  the SC today as it hears the contempt case against Patanjali Ayurved in connection with its misleading ads. Acknowledging Ramdev and Balkrishna’s substantial contributions to the realm of yoga, the bench emphasized the significance of their role. However, the court didn’t shy away from scrutinizing their conduct, questioning why other medical systems were disparaged to highlight the virtues of Ayurveda. Despite expressions of regret and readiness to issue a public apology, the court maintained a cautious stance. In a pivotal session…

LIC has experienced a substantial 59% surge in the value of its investments in Adani Group companies during the fiscal year 2023-24. During the previous fiscal year, LIC found itself under intense scrutiny due to its strategic investment decisions in the Adani Group amidst a charged political atmosphere. According to data from stock exchanges, LIC’s investments in seven Adani Group companies have witnessed a significant upswing, soaring from Rs 38,471 crore as of March 31, 2023, to Rs 61,210 crore by March 31, 2024. The surge in LIC’s investment value…