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News

JioMart’s Jio moment—can the RIL company disrupt Indian retail?

JioMart is a blend of digital and neigbourhood physical retail that makes it easy for customers to place orders and encourages stores to get empanelled with Reliance Retail.

To pay or not to pay? COVID-19 forces a relook at contracts, agreements and deals

Legal firms have been flooded with calls from clients enquiring if they can re-evaluate a deal. Recently, a group of steel traders approached the Mumbai High Court, seeking relief from a contract. They had sourced steel from a South Korean steelmaker. But even before the steel reached Indian shores, COVID-19 ...

Airlines ask leasing companies for rental holiday, but lessors play hard

Lease rentals can make up to 60 percent of an airline’s fixed costs Faced with increasing prospects of an extended lockdown that will restrict flying, airlines in India have reached out to aircraft lessors for a rental holiday.

Yash Birla case to decide status of offshore trusts

The dispute relates to multiple overseas trusts, allegedly holding close to Rs 1,550 crore, where Birla is named as one of the beneficiaries. The HC is hearing a petition filed by Birla challenging a two-year old ruling of the Income Tax Settlement Commission (ITSC) rejecting Birla’s application for settlement on ...

‘Be thorough in extradition requests’: Government to agencies

In a bid to improve India’s record in securing cooperation from foreign jurisdictions, the ministry of home affairs (MHA) has asked all investigation agencies to adhere to international agreements and laws, avoid trivial queries, not be vague, check “dual criminality”, and assurances such as death penalty, prison conditions and terms ...

Wary of fraud, independent directors now probe before they leap

MUMBAI: An independent director who serves on the board of a major insurance company and a bank recently received an offer to join the board of one of India’s largest infrastructure companies.

Punj Lloyd: ICC tribunal allows Punj Lloyd to fight Sirte case – The Economic Times

MUMBAI: The city economic offences wing (EOW) on Thursday arrested a 51-yearold director of a private firm for allegedly cheating UK national Don Ward, founder of London’s Comedy Store…

ED restrains former IL&FS executive Shahzaad Siraj Dalal from selling South Mumbai property – The Economic Times

MUMBAI: The Enforcement Directorate (ED) has restrained Shahzaad Siraj Dalal – the man who took IL&FS overseas and led its ambitious private equity initiative – from selling his property in South Mumbai’s Babulnath area.  

R Venkataramanan: Bombay HC sets aside R Venkataramanan’s defamation process

MUMBAI: In a reprieve to R Venkataramanan, managing trustee of Tata Trusts, the Bombay High Court has set aside the process issued against him by a metropolitan magistrate’s court  

U.K. Approves Extradition Of Former Billionaire Vijay Mallya

MUMBAI: The city economic offences wing (EOW) on Thursday arrested a 51-yearold director of a private firm for allegedly cheating UK national Don Ward, founder of London’s Comedy Store

Ronita Italia Dhanu: I blindly signed on every paper and cheque he asked me to

In the publishing and design industry, Ronita Italia Dhanu is a well-known name. In a career spanning over two decades, she has edited several architecture magazines. Plus, her attractive  

Chinese Hackers: How Chinese hackers pulled off the Italian con job, a Rs 130-crore heist

MUMBAI: A gang of Chinese fraudsters stole $18.6 million (Rs 130 crore) from the Indian arm of Italian company Tecnimont SpA by convincing local managers that the money was needed for an acquisition, in what could be one of the biggest cyber heists in the country.