Suspension of IBC proceedings may not be extended beyond March 24
With just about a fortnight left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely. An extension may not be economically desirable as it hampers the restructuring prospects for stressed companies, according to senior officials. Also, it would be a challenge to amend the law in such a short time. Read more
Inside Ola's mega factory, India's potential answer to Elon Musk's Tesla
Bhavish Aggarwal-led Ola
Electric's Rs 2,400 crore unit is equal to about 378 football fields and is being built at record-breaking speed to become the world's largest two-wheeler plant. When compared to Elon Musk’s Tesla
Gigafactory in Nevada, US, Ola's factory building is about two-thirds of that. Read more
Raw material shortage may affect scaling up of Covishield production
The shortage of raw materials may affect the scaling up of the production of the Oxford-AstraZeneca (Covishield) vaccine by the Pune-based Serum Institute of India (SII). SII, the world’s largest vaccine maker by volume, is currently producing around 67-70 million doses of Covishield vaccine per month. Read More
Share of women in boardrooms up for eighth year in a row, shows data
Men held three independent director posts for every similar office occupied by a woman, according to the latest data. This is a significant improvement over March 2013 when men held 18.7 posts for every one held by a woman. Read more
Govt proposes to hike in LIC's authorised capital to Rs 25,000 cr
The government has proposed to significantly increase the authorised capital of Life Insurance Corporation of India (LIC) to Rs 25,000 crore to facilitate its listing slated for the next fiscal. Currently, the paid-up capital of the life insurance company with over 29 crore policies is Rs 100 crore. Starting with an initial capital of Rs 5 crore in 1956, LIC
has an asset base of Rs 31,96,214.81 crore. Read more
Post-pandemic reality: Ad rates go up by 10-15% for IPL's 14th edition
The 14th edition of the Indian Premier League (IPL) starts April 9, and the excitement surrounding the T20 tournament is growing. Broadcaster Star Sports has raised ad rates for the IPL by 15-20 per cent this year, compared to last year. Digital and mobile-led products and services have strengthened their presence, with smartphone player Vivo returning as the title sponsor of the tournament. Read more
Cairn wants India to pay $1.4 bn, shareholders to seek enforcement
has already moved courts in the US, UK, Netherlands, Canada, France, Singapore, Japan, UAE and Cayman Islands to get the December 21 international arbitration tribunal award registered and recognised - the first step before it can seek seizure of the Indian government assets such as bank accounts, payments to state-owned entities, aeroplanes and ships in those jurisdictions, in case New Delhi does not return the value of the shares seized and sold, dividend confiscated and tax refund stopped to adjust a Rs 10,247 crore tax demand raised using retrospective legislation. Read more
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.