BUSINESS
Gaming platform MPL logs $149.3 mn losses in FY22, 3 times higher than FY21
According to an Inc42 report, M-League Pte Ltd, the Singapore-based parent company of MPL, saw its revenue from operations increasing just 29 per cent, to $65.6 million in FY22 from $50.8 million in FY21. Total expenses at the gaming company MPL spiked 116.2 per cent to $215 million as advertising and promotional expenses went up 81 per cent (on-year), the report mentioned. Founded in 2018, MPL hosts hundreds of millions of tournaments a month and is trusted by over 90 million registered users across India, Indonesia, Europe, and the US.
Torrent stalls Reliance Capital resolution process
Legal advisors, AZB & Partners for the administrator and Luthra & Luthra for the COC, observed that Torrent and IIHL resolution plans are legally non-compliant with the IBC and other laws. Financial advisors, Deloitte, and KPMG's comparison observed that the upfront cash of Torrent was only Rs 3,750 crore, as against the IIHL's offer of Rs 9,000 crore cash upfront. Torrent's deferred payment of 3 to 5 years is without Torrent Investment's corporate guarantee offered in the first round and at zero interest. Torrent also wants the COC to allow it a charge on the Reliance Capital assets for deferred financing.
Cinemas private property, movie goers carrying outside food, drinks can be regulated: SC
A bench, headed by Chief Justice D.Y. Chandrachud said a cinema hall owner has the right to regulate the entry of food and beverages into the movie hall. The bench, also comprising Justice P.S. Narasimha, said whether to consume what is available is entirely upon the choice of the movie goer and pointed out that viewers visit the hall for entertainment.
Reliance Consumer Products forms JV with 100-yr-old beverage maker Sosyo Hajoori Beverages
The existing promoters, Hajoori family, will continue to own the remaining stake in SHBPL. Sosyo is a heritage Indian brand with around 100 years of legacy in carbonated soft drinks (CSD) and juices. Established in 1923 by Abbas Abdulrahim Hajoori, the company is one of the leading players in the domestic soft drinks market.
Ashneer exhibited 'unruly, threatening behaviour' in AGM: BharatPe
"Ashneer Grover and his wife, Madhuri Jain Grover, joined the AGM with the clear intent to disrupt the proceedings. Throughout the three-hour long meeting, Ashneer exhibited unruly, intimidating and threatening behaviour towards the authorised representatives and employees of BharatPe who were doing their best to fulfil the statutory obligations of the Company," the company spokesperson said in a statement.
Amit Jain offers Rs 5 crore for a pitch on 'Shark Tank India'
But what has grabbed eyeballs of viewers is a pitch for which the sharks offered Rs 5 crore. The promo has raised curiosity levels by not showing the pitch, but one of the judges, CarDekho.com co-founder and CEO Amit Jain, saying: "5 crore 5 per cent." Shaadi.com founder and CEO Anupam Mittal heightens the excitement by adding: "Biggest offer on 'Shark Tank India'."
297 investor complaints resolved in Dec '22: BSE
According to the BSE, it had resolved 297 complaints from investors against 186 listed companies. These resolved complaints include complaints brought forward from the previous periods. Last month, the BSE received 191 complaints against 130 companies.
In terms of numbers, complaints for non-receipt of equity shares head the table.
Crypto winter wipes over 70K Bitcoin millionaires in 2022
According to data by Finbold (as of January 2), the number of Bitcoin millionaire addresses stood at 28,007, representing a drop of about 71.73 per cent or 71,085 addresses from January 2 last year. At the start of last year, the number of millionaire addresses stood at 99,092.
Markets, malls in Pakistan to close by 8:30 pm to save electricity
The Defence Minister said that Prime Minister Shehbaz Sharif has directed the concerned authorities to cut the usage of electricity by all departments of the federal government by 30 per cent. The Prime Minister, according to Asif, also ordered the officials against unnecessary consumption of electricity in offices.
BMW Group India sold 19,263 vehicles in 2022
According to a statement issued by BMW India, a total of 11,981 cars (BMW and MINI) and 7,282 motorcycles were sold last year in India. The BMW Group had logged 37 per cent growth in the sales of BMW cars as compared to the same period last year by delivering 11,268 units.
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