CaratLane Trading, now majority owned by the Tata Group’s Titan, has challenged a show-cause notice (SCN) from the Directorate of Enforcement (ED) alleging that it had violated rules between 2011 and 2014 by receiving foreign direct investment (FDI), said people with knowledge of the matter. This predates Titan’s investment in CaratLane. Titan said recently it’s…
Sales at Lifestyle International, the company that runs an eponymous department chain in India, grew 46% in the year to March 2023 to Rs 11,810 crore. According to financials sourced from Tofler, Lifestlye International reported a net profit of Rs 700 crore during 2022-23. This is a 160 % increase from the last financial year….
NEW DELHI: PM Narendra Modi and Chinese President Xi Jinping came together with other heads of state and government at the Brics leaders’ retreat late in the evening Tuesday but suspense remained over whether the two leaders will have a bilateral meeting on the margins of the summit.“PM, alongwith other Brics leaders will deliberate (at…
NEW DELHI: Prime Minister Narendra Modi on Tuesday called for building a resilient and inclusive supply chain, amplifying a pitch that reflects the global wariness over dependence on China as the “factory of the world”.“The Covid pandemic has taught us the importance of resilient and inclusive supply chains. For this, trust and transparency are very…
NEW DELHI: The Republican party’s first presidential debate in the run up to the 2024 elections promises to be a fiery showdown between candidates hoping to be the next nominee. Amid the charged and increasingly divisive political landscape, the upcoming debate will see candidates spar over a spectrum of pressing issues and the discourse will…
NEW DELHI: Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with “mission-mode” reforms being undertaken by his government. Speaking at the Brics Business Forum Leaders’ Dialogue, PM Modialso said India soon will become a $5…
Representative Image New Delhi: Footwear sector revenue is expected to increase by 11 per cent, accompanied by a projected 4 per cent rise in volume according to a report by CRISIL Ratings. The operating margin is expected to grow by approximately 125 basis points to around 9 per cent due to lower raw material prices,…
On August 22nd, Tollywood’s beloved Megastar Chiranjeevi turned 68, and the industry and his fans came together to shower him with love and birthday wishes. While the superstar, born as Konidela Sivasankara Varaprasad, has had a career spanning over four decades, his energy, charisma, and incredible acting prowess continue to awe audiences worldwide. Read Also…
Representative Image Tata group company Titan, which agreed to purchase CaratLane founder Mithun Sacheti‘s stake in the omnichannel jewellery retailer for Rs 4,621 crore, is expected to buy employee stock options (ESOPs) held by CaratLane employees for around Rs 340-350 crore, or approximately $42 million, people aware of the discussions said. The company has around…
The sale of Future Lifestyle Fashions (FLFL) under the corporate insolvency process has run into a roadblock due to a conflict of interest between promoter Kishore Biyani and the forensic auditor appointed by lenders, people aware of the development said. Dilip Dixit had undertaken an assignment for one of the Biyani-promoted company before FLFL was…
