Companies

Mukesh Ambani, chairman and managing director, RIL.
(Photo: Reuters)
(Photo: Reuters)

Ex-IL&FS auditors again question NCLT jurisdiction to ban them

  • The corporate affairs ministry has sought a five-year ban on Deloitte and BSR for their failure to do the statutory job properly while they were auditing these group companies
  • Deloitte's counsel argued that Section 140(5) of Companies Act does not apply if the auditors are no longer with a company

This was the third consecutive loss of market share for IndiGo as it had notched up 49.9% in April (Reuters )
This was the third consecutive loss of market share for IndiGo as it had notched up 49.9% in April (Reuters )

Domestic air traffic volume picks up again, inches up 6.2% in June: DGCA data

  • The largest carrier IndiGo continued its market leadership ferrying 5.77 mn passengers in the month, followed by rival SpiceJet with 1.86 mn
  • However, Indigo's market share declined 0.9% to 48.1%, while SpiceJet cornered 15.6% of the traffic volume

The NBFC on Friday reported 2% jump in net profit to  ₹549 crore in the June quarter. Photo: Priyanka Parashar/Mint
The NBFC on Friday reported 2% jump in net profit to 549 crore in the June quarter. Photo: Priyanka Parashar/Mint

L&T Finance to exit 8,660-crore structured finance biz

  • L&T Finance has classified its structured finance and debt capital market as 'defocused' book this quarter
  • L&T Finance said it is looking to focus on core businesses such as rural lending, housing finance and infrastructure finance

Yuki Katsuta, global R&D head at Uniqlo, and group senior vice-president at its parent Fast Retailing.
Yuki Katsuta, global R&D head at Uniqlo, and group senior vice-president at its parent Fast Retailing.

‘Indian customers may drive the next innovation at Uniqlo’

  • Clothes should not have attitude. People should have their individuality, says Yuki Katsuta
  • We are always researching and studying trends... We want to find out what’s the next trend, and what can go on to become the next essential item

This is the single largest foreign investment in an Indian infrastructure vehicle, the company said (Photo: Reuters)
This is the single largest foreign investment in an Indian infrastructure vehicle, the company said (Photo: Reuters)

Canada's Brookfield to infuse 25,215 crore into RIL's tower arm

  • Proceeds from the investment will be used to repay certain existing financial liabilities of Reliance Jio lnfratel
  • This is the single largest foreign investment in an Indian infrastructure vehicle, RIL said

Jet Airways has not flown since 18 April because of funding woes. (Abhijit Bhatlekar/Mint)
Commuters use their mobile phones as they wait at a bus stop with an advertisement of Reliance Industries' Jio telecoms unit, in Mumbai, July 10, 2017. REUTERS/Shailesh Andrade/Files
Commuters use their mobile phones as they wait at a bus stop with an advertisement of Reliance Industries' Jio telecoms unit, in Mumbai, July 10, 2017. REUTERS/Shailesh Andrade/Files

Reliance Jio Q1 net profit rises 46% to 891 crore; ARPU falls to 122

  • Despite larger consumer base across tariff plans, customer engagement improved with higher data usage of 11.4 GB per user per month
  • Jio's subscriber base was at 331.3 million as on 30 June, 2019

Elon Musk.  (Reuters )
A file photo of IndiGo chief executive Ronojoy Dutta
 (Mint)
Last fiscal year, the company reported its first positive free cash flow in a decade (AFP file)
 (Mint file)
India’s additional clean energy investment requirement is of around $80 billion till 2022, growing more than three-fold to $250 billion during 2023-30 (Bloomberg file)
India’s additional clean energy investment requirement is of around $80 billion till 2022, growing more than three-fold to $250 billion during 2023-30 (Bloomberg file)

REC raises $650 million in international bond market

  • The bond issuance by REC followed the $1 billion bond issued by PFC in the international market last month
  • The bond issue comes at a time when power sector lenders are recalibrating their loan portfolio in the backdrop of India’s changing energy mix

 (Reuters)
Bollywood star Salman Khan (Mint file)
Bollywood star Salman Khan (Mint file)

Salman Khan to endorse Somany Ceramics

  • The brand campaign with Khan will come with the tag line ‘Zameen se Judey’ and revolve around the idea, ‘no matter how high you soar or how successful you are, you should always remain grounded’
  • The company is planning aggressive expansion across the country

Dabur India's new chairman Amit Burman. (Pradeep Gaur/Mint)
Dabur India's new chairman Amit Burman. (Pradeep Gaur/Mint)

Amit Burman is new Dabur India chairman

  • Dabur reported a 10.3% jump in consolidated net profit to 363 crore for the first quarter of fiscal 2020
  • Amit Burman had been vice chairman of the company, known for its Real juice brand and Vatika hair oil, since 2007

The investment is part of the group's ongoing  ₹45,000-crore capital expenditure programme (Reuters file)
The investment is part of the group's ongoing 45,000-crore capital expenditure programme (Reuters file)

JSW Steel ramps up tinplate production, takes on Tata Steel

  • The company has invested close to 1,000 crore in its Tarapur unit in Maharashtra to roll out JSW Platina
  • Once all units are operational, JSW Steel will have an installed tinplate capacity of 600,000 tonnes

Ritesh Agarwal, founder and CEO of Oyo. (Photo: Bloomberg)
Lenders have been trying to sell Jet Airways as a going concern for the past five months (Reuters file)
Lenders have been trying to sell Jet Airways as a going concern for the past five months (Reuters file)

Jet Airways lenders vote on proposals for resolution under IBC

  • Resolutions up for vote include a $10-million interim fund infusion into the airline, eligibility criteria for potential bidders and appointment of consultants for valuation of the company’s assets
  • Jet Airways has not flown since 18 April because of funding woes