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  • Companies

    Nestle buys Allergan business to expand in medical nutrition

    Swiss food giant Nestle on Monday bulked up its medical nutrition business by buying Allergan's Zenpep, a product for people whose pancreases do not provide enough enzymes to properly digest fats, proteins and sugars. Financial terms of the transaction were not disclosed. Zenpep had sales of USD 237 million in 2018. Allergan's sale of Zenpep, for people with Exocrine Pancreatic...

    • 18 hrs ago
  • Companies

    Air India sale: Bidders to have access to all records in initial stage

    New Delhi: Potential bidders for Air India will have access to draft share purchase agreement and all records of the airline in the initial stage of the disinvestment process itself, according to a bid document. Besides, a due diligence report about the airline would be provided to potential bidders before the request for proposal (RFP) stage. Generally, access to all data...

    • 19 hrs ago
  • Companies

    Urban cooperative banks report nearly 1,000 frauds worth over Rs 220 cr: RBI

    New Delhi: Urban cooperative banks (UCBs) have reported nearly 1,000 cases of fraud worth more than Rs 220 crore in the last five fiscals, according to the Reserve Bank of India (RBI). Responding to an RTI query, the central bank said a total of 181 fraud cases involving Rs 127.7 crore were noticed during 2018-19. A total of 99 and 27 such cases involving Rs 46.9...

    • 19 hrs ago
  • Companies

    Bid doc issued: Government to sell 100 per cent stake in Air India

    New Delhi: The government on Monday announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment with the deadline for submitting expression of interest set as March 17. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per...

    • 22 hrs ago
  • Companies

    Air India privatisation: Employee unions to meet in Delhi

    New Delhi: Various Air India employee unions will meet here on Monday to discuss proposed privatisation of the debt-laden airline, sources said. The meeting was scheduled after the government, earlier in the day, announced sale of 100 per cent stake in Air India as it issued the preliminary bid document for the strategic disinvestment. Representatives of various Air India trade unions...

    • 22 hrs ago
  • Companies

    Tata-Mistry case: SC stays NCLAT order rejecting RoC pleas seeking modification

    New Delhi: The Supreme Court on Friday stayed the National Company Law Appellate Tribunal's order dismissing the Registrar of Companies (RoC) plea seeking modification of its verdict in the Tata-Cyrus Mistry matter. A bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant agreed to hear Tata Sons Pvt Ltd's appeal and issued notice to the...

    • 4 days ago
  • Companies

    HDFC Bank taps Egon Zehnder to identify Aditya Puri's successor

    Mumbai: The HDFC Bank has chosen global executive search firm Egon Zehnder to identify a successor to managing director Aditya Puri, the country's top private lender said on Thursday. Reuters had reported earlier on Thursday that the HDFC Bank board had tapped the global head-hunting firm in a bid to end a boardroom impasse over Puri's successor and zero in on a candidate. Four...

    • 4 days ago
  • Companies

    Operations may be impacted due to bank unions' two-day strike: SBI

    New Delhi: The country's largest lender SBI on Friday said its operations may be impacted to some extent due the proposed two-day nationwide strike beginning January 31. The bank has however made all arrangements to ensure normal functioning in its branches and offices, the State Bank of India (SBI) said in a filing to the BSE. "While Bank has made all arrangements to...

    • 4 days ago
  • Companies

    Not received any Sebi request for further audit in whistleblower case: Infosys

    New Delhi: Infosys on Friday said it has not received any request from Sebi for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet. Sources had said market watchdog Securities and Exchange Board of India (Sebi) is likely to call for a forensic audit of books of Infosys as it continues to...

    • 4 days ago
  • Companies

    US regulator to review recommendation on Fiat Chrysler's complaint against Mahindra

    A US regulator said it will review part of a recommendation made last fall that India's Mahindra and Mahindra Ltd infringed upon the intellectual property rights of Fiat Chrysler Automobiles' Jeep SUV design. The International Trade Commission (ITC) on Wednesday said it would review an administrative law judge's initial determination last November that Mahindra's...

    • 4 days ago

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