In a first, the business houses run by Mukesh Ambani and Gautam Adani have entered into an investment agreement, under which Reliance Industries Ltd (RIL), controlled by Ambani, will pick up a minority stake in the latter’s Mahan Energen power project. 


In a first, the business houses run by Mukesh Ambani and Gautam Adani have entered into an investment agreement, under which Reliance Industries Ltd (RIL)

Watch: Collaboration between Ambani's RIL and Adani Power

The ED has restituted assets worth Rs 4,025 crore of the erstwhile Bhushan Steel and Power Limited to JSW Steel following approval from the Supreme Court, the federal probe agency said on Saturday.
JSW Steel was the successful resolution applicant to the assets of the insolvent company under the Insolvency and Bankruptcy Code (IBC) of the Corporate Insolvency Resolution Process (CIRP).
These assets were earlier attached by the federal probe agency under provisions of the Prevention of Money Laundering Act (PMLA) in an investigation against Bhushan Steel and Power and its promoters on charges of alleged bank loan fraud and "diversion" of those funds for personal investments.
The Enforcement Directorate (ED) said the restitution of assets worth Rs 4,025 crore was made under Section 8(8) of the PMLA (restitution pending trial), read with Rule 3A of PMLA Restoration of Property Rules.
The apex court gave its approval on this Enforcement Directorate (ED) proposal on Wednesday, the agenc

These assets were earlier attached by the federal probe agency under provisions of the Prevention of Money Laundering Act

Quick commerce firm Zepto has marginally brought down its losses to Rs 1,248.6 crore in 2023-24 from Rs 1,272.4 crore in 202223 , as per data shared by Tofler.
The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal.
Zepto co-founder Aadit Palicha took to LinkedIn to share the results.
"Zepto reduced its absolute losses, with PAT (profit after tax) as a percentage of revenue improving significantly from -63 per cent in FY23 to -28 per cent in FY24," he wrote.
Palicha expressed optimism about continuing this momentum towards profitability and said the company is on track for a profit after tax (PAT) in the near future.
"Despite being only 3 years old, we were able to successfully close a full statutory audit by a Big 4 firm with no financial qualifications and a clean CARO.  This rare achievement for a young startup is the outcome of a governance-focused culture at Zepto and early decision-making that 

The Mumbai-based firm posted a revenue of Rs 4,454 crore in FY24, more than two-fold increase from Rs 2,025 crore in the previous fiscal

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A team of the Enforcement Directorate (ED) was allegedly assaulted by the staff of an offshore casino vessel in Goa, police said on Saturday.
Police on Friday registered a case against the director, two senior staffers of Cruise Casino Pride, and a few others for the incident that occurred on December 12, an official said.
According to the complaint lodged at Panaji police station, the staff of the offshore casino vessel allegedly assaulted Poluri Chenna Kesava Rao, an assistant director of ED, and his team and confined them in a room while they were searching the premises on Thursday afternoon, the official said.
He said casino director Ashok Wadia, senior staffers Gopal Ramnath Naik, Arati Raja and a few others were involved in the assault.
The accused threatened to cause injury to the complainant and his team and wrongfully confined them in a room while they were discharging their lawful duty in an official capacity, a spokesperson from the Goa police said.
He said the ED has a

According to the complaint lodged at Panaji police station, the staff of the offshore casino vessel allegedly assaulted Poluri Chenna Kesava Rao, an assistant director of ED

Hours before the resumption of the farmers' protest march to Delhi from the Shambhu border, the Haryana government on Saturday suspended mobile internet and bulk SMS services in 12 villages in Ambala district to maintain "public peace".
The suspension will remain in force till December 17, according to an order issued by Additional Chief Secretary (Home), Sumita Misra said.
"It has been brought to my notice by additional director general of police, CID, Haryana and deputy commissioner, Ambala that in view of the call for Delhi Kooch given by certain farmers' organisations, there is an apprehension of causing tension, annoyance, agitation, damage of public and private property and disturbance of public peace and tranquillity in the area of districts Ambala," the order said.
Misra said the order to suspend mobile internet in Dangdehri, Lehgarh, Manakpur, Dadiyana, Bari Ghel, Choti Ghel, Lharsa, Kalu Majra, Devi Nagar (Hira Nagar, Naresh Vihar), Saddopur, Sultanpur and Kakru villages i

The suspension will remain in force till December 17, according to an order issued by Additional Chief Secretary (Home)

Stakeholders from the micro, small and medium enterprises (MSME) sought a reduction in GST, technology upgrade, and production-linked incentive scheme benefits for various segments in a pre-Budget meeting with Finance Minister Nirmala Sitharaman on Saturday.
The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1.
Members from the Association of Women Entrepreneurs of Karnataka (AWAKE); Karnataka SC and ST Entrepreneurs' Association; Plant-Based Food Industry Association (PBFIA); Ambala Scientific Instruments Manufacturers' Association (ASIMA); Rajasthan Footwear Manufacturers' Association were among the participants at the meeting.
The All-India Plastics Manufacturers' Association; All India Manufacturers' Association; Gujarat Chamber of Small Industries Association; Federation of Associations of Cottage and Small Industries (based in West Bengal); Federation of Andhra Pradesh Small and Medium Association; and Laghu Udyog 

The meeting aimed to seek inputs and suggestions for the Budget for 2025-26, expected to be presented on February 1

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Watch: Collaboration between Ambani's RIL and Adani Power

In a first, the business houses run by Mukesh Ambani and Gautam Adani have entered into an investment agreement, under which Reliance Industries Ltd (RIL), controlled by Ambani, will pick up a minority stake in the latter’s Mahan Energen power project.

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