Author: Legal Parivar

Adani Enterprises, the flagship firm of the billionaire Gautam Adani-led group with diverse interests ranging from new energy to airports and data centers, is gearing up to allocate ₹80,000 crore across its various businesses in the ongoing financial year, as per a senior company executive. The bulk of this planned capital expenditure for the fiscal year 2024-25 will be directed towards the new energy sector and airports, disclosed Saurabh Shah, the deputy chief financial officer, during an analyst call. He emphasized that Adani New Industries Ltd (ANIL) and airports businesses would account for approximately ₹50,000 crore of this capex. ANIL,…

Many people have hobbies and passions that they enjoy in their spare time, whether it’s painting, photography, crafting, cooking, or playing music. What if you could turn these hobbies into a source of income? With the rise of online platforms and the gig economy, there are numerous opportunities to monetize your passions and turn your hobby into a profitable venture. In this article, we’ll explore various ways to monetize hobbies and provide practical tips for success. Conclusion: Monetizing your hobbies and passions can not only provide a source of income but also allow you to pursue your interests on your…

In the realm of housing, one of the most significant decisions individuals and families face is whether to rent or buy a property. Both options have their advantages and drawbacks, and making the right choice requires careful consideration of various factors. In this article, we’ll delve into the key factors to consider when deciding between renting and buying, providing examples to illustrate each point. Conclusion: Renting and buying each offer distinct advantages and drawbacks, and the decision ultimately depends on individual preferences, financial circumstances, and lifestyle goals. By carefully evaluating factors such as financial considerations, lifestyle flexibility, maintenance responsibilities, long-term…

After a bustling week, the primary market is poised to launch one of the most awaited initial public offerings (IPOs) of the year, featuring Go Digit General Insurance. During the preceding week, Dalal Street witnessed three significant mainboard segment IPOs, collectively raising over ₹6,000 crore amidst the ongoing general elections across the nation. In the upcoming week, the market anticipates the opening of six new public issues, comprising one mainboard IPO and five small and medium enterprise (SME) issues. Additionally, approximately 12 new IPOs are slated to make their market debut. Here’s an overview of the IPOs set to launch…

Delhi Chief Minister Arvind Kejriwal is scheduled to convene a meeting with Aam Aadmi Party MLAs in the national capital this Sunday, marking his first interaction with legislators since his release from Tihar Jail following the Supreme Court’s interim bail grant until June 1. In a social media post, CM Arvind Kejriwal outlined his agenda for the day, including an MLA meeting at 11 am, a press conference at the party office at 1 pm, followed by two roadshows in New Delhi and West Delhi Lok Sabha constituencies at 4 pm and 6 pm respectively. Meanwhile, the Aam Aadmi Party…

Thermax Limited announced a consolidated net profit of over 20%, reaching ₹188 crore in the March 2024 quarter, driven by increased revenues. The company disclosed that it had achieved a profit after tax of ₹156 crore in the corresponding period of the previous fiscal year. Furthermore, its consolidated income for the quarter surged to ₹2,818.93 crore compared to ₹2,368.31 crore in the same period last year. The quarter also witnessed a 2% increase in order booking, totaling ₹2,309 crore, up from ₹2,254 crore in the year-ago quarter. The board has proposed a dividend of ₹12 per share for the fiscal…

Bank of Baroda (BoB) anticipates recovering Rs 2,500 crore from its exposure to National Company Law Tribunal (NCLT) accounts, stated Debadatta Chand, managing director and chief executive officer (MD and CEO). Chand emphasized that while their NCLT portfolio remains challenging, they foresee a recovery in the fiscal year 2025. “Our NCLT portfolio is challenging, but we anticipate a Rs 2,500 crore recovery from NCLT accounts out of the total Rs 46,000 crore book in NCLT by FY25,” Chand said during a post-results press conference. As per information provided in the lender’s investor presentation for the year ended March 2024, the…

The Reserve Bank of India (RBI) announced on May 10 that it has levied monetary penalties on Belstar Microfinance and Sundaram Home Finance for regulatory breaches. In a statement, the central bank disclosed that it imposed a penalty of Rs 3.10 lakh on Belstar Microfinance and Rs 1.50 lakh on Sundaram Home Finance. Regarding Sundaram Home Finance, the penalty was imposed due to the company’s failure to conduct periodic updates of KYC for certain customers within the stipulated intervals, as stated in the release. Additionally, Belstar Microfinance incurred the penalty as it delegated decision-making responsibilities for ensuring compliance with KYC…

Foreign institutional investors continued their selling spree in Indian equities on May 10, with net sales amounting to Rs 2,117.50 crore. Conversely, domestic institutional investors displayed a contrasting trend by purchasing equities worth Rs 2,709.81 crore. Provisional data from the exchanges revealed that FIIs engaged in buying equities worth Rs 11,603.33 crore and selling equities worth Rs 13,720.83 crore. Meanwhile, DIIs accumulated shares worth Rs 10,677.79 crore but divested shares worth Rs 7,967.98 crore during the session. On May 10, India’s benchmark Sensex surged by over 260 points, while the Nifty closed above the 22,000 mark, mirroring the positive momentum…

On May 10, ICICI Bank announced the resignation of Bijith Bhaskar, who served as the head of cards, payment solutions, e-commerce ecosystem, and consumer finance within the company. His resignation, effective from May 18, was accepted by the bank as indicated in the exchange filing. Bhaskar, a member of the senior management personnel group, cited personal reasons for his departure and expressed a desire to explore opportunities beyond the bank. According to the filing, he had been with the bank for 21 years.