BUSINESS
The Case Against Ambience: Why Raj Singh Gehlot is in jail
The observation came to light during the recent hearing of the bail plea of Raj Singh Gehlot, Chairman of the Ambience Group of Companies, who was arrested by the ED on charges of allegedly defrauding the banks which granted Rs 810 crore loan. Denying bail to Gehlot, the court also noted that the loan amount disbursed by the bank was siphoned off through certain entities, which have been found to exist only on papers.
Supertech stares at insolvency amid heat of twin-tower demolition
It advertised extensively and the firm was among the top in the real estate sector. Then in 2020 came the Covid pandemic, which turned everything upside down and created an unprecedented crisis for the real estate industry. As things begin to normalise, it seems normalcy has reached beyond the reach of Supertech with the company receiving a twofold blow.
Real estate barons betrayed people's trust, pulled down a growth sector
The real estate landscape in the region suffered multiple blows as leading names of the trade were mired in scandals in the recent past and some of them even landed in jail. This is a story of how real estate barons have played with the system, betrayed people's trust and created multiple crises.
Elon Musk responds to B'luru man who tweeted 'he was not founder of Tesla'
The tech billionaire recently reiterated a few points about Tesla's early days in a set of tweets following a post from Vaibhav Sisinty, the CEO and founder of GrowthSchool, reports Teslarati. Sisinty posted a "reminder" that Musk was not the founder of Tesla, and he simply acquired the company. It did not take long before the Tesla CEO decided to correct the narrative and provide some new insights on Tesla's early days in the process.
Rising oil prices, inflation to hit India's smartphone market in 2022
"Oil prices in India are at an all-time high and wholesale inflation remains elevated, at 14.6 per cent in March. Volatility in foreign exchange rates and higher operational costs due to inflation will, in turn, put further pressure on vendors to maintain profitability," said analyst Sanyam Chaurasia.
Centre mulling policy to promote manufacturing of patented drugs
Addressing a media conference ahead of 7th edition of India Pharmaceutical and Medical Devices Conference 2022, scheduled from April 25 to 27, along with Minister of State for Chemicals and Fertilisers Bhagwanth Khuba, he said that to make India self-reliant in the manufacturing of key materials and products and to reduce dependence on other countries, they identified several APIs and started their manufacturing in the country itself.
Markets close on a negative note
The BSE's 30-scrip Sensex closed at 57,197.15 points, down by 714.53 points or 1.23 per cent. It opened at 57,531.95 points and touched a high of 57,689.86 points and a low of 57,134.72 points. The stocks that gained were Mahindra and Mahindra, Maruti, ITC, Asian Paints, HCL Technologies, and Bharti Airtel.
Adani acquires India's largest marine services company Ocean Sparkle
Key activities carried by the company include towage, pilotage, and dredging. With an asset base of 94 owned vessels and 13 third-party owned vessels, OSL is a market leader. OSL is valued at an enterprise value of Rs 1,700 crore with Rs 300 crore of free cash in the company. The company was established in 1995 by a group of marine technocrats with P. Jairaj Kumar as the Chairman and MD, who will continue as the Chairman of the OSL board.
Nicolas Cage tried to build $80 mn film studio, but 'Elon Musk came in'
According to 'Variety', Cage said Tesla CEO Elon Musk came to town and Las Vegas opted to put the money into the Tesla corporation instead of his desired movie studio. Cage lives in Las Vegas, and the city has been the backdrop for some of his films like 'Leaving Las Vegas' and 'Honeymoon in Vegas'. Cage won an Oscar for best actor for his performance in 'Leaving Las Vegas'. "Vegas has been good to me, it really has," Cage said.
Meta COO Sandberg 'threatened' UK outlet from publishing story on her ex-boyfriend
According to a report from The Wall Street Journal, Sandberg put pressure on the Daily Mail not to publish stories about a restraining order filed against Kotick by his former girlfriend. "In 2016 and 2019, Sandberg contacted the digital edition of the Daily Mail (MailOnline), which was reporting on a story that would have revealed the existence of a temporary restraining order against Kotick that had been obtained by a former girlfriend in 2014," the report said late on Thursday.
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