Category: Business News
ITC plans to invest 20,000 crore.
Calcutta: ITC Ltd. plans to spend 20,000 crore in the next five years to ramp up capacities in fast-moving consumer goods and paper businesses, among others, the company’s chairman and managing director, Sanjiv Puri, informed the shareholders on Friday. Speaking at the 113th annual general meeting of the company, Puri said ITC’s ‘confidence in the…
Byju has been forced into bankruptcy proceedings.
Think and Learn Private Ltd. (TLPL), the parent company of edutech Arm Byju, has been rolled into the bankruptcy resolution process. The National Company Law Tribunal (NCLT) admitted a petition moved by the Board of Control for Cricket in India (BCCI) after the firm defaulted on the payment of 2158 crore.A bench comprising judicial member…
Fitch lowers its outlook on Tata Steel.
New Delhi: Fitch Ratings on Friday revised its outlook on domestic steel major Tata Steel to negative on account of uncertainty surrounding the turnaround of the company’s operations in the UK. However, the expected robust growth in Tata Steel’s India operations and likely earnings before interest, taxes, depreciation, and amortization profits at its Dutch operations…
The administration has denied claims that Byju has been cleared of a financial fraud inquiry.
The Ministry of Corporate Affairs (MCA) refuted the reports, claiming that Byju’s has been cleared of financial fraud in an ongoing investigation by the ministry. As reported by Bloomberg, which was carried out by multiple media platforms, an investigation by the Ministry of Corporate Affairs uncovered lapses in Byju’s corporate governance but did not find…
India’s financial system is stronger; thus banks should avoid taking risks: RBI Governor
Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday that India’s domestic financial system is now in a much stronger position than it was before the country entered the period of the COVID crisis. “The Indian financial system is now in a much stronger position, characterized by robust capital adequacy, low levels of…
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