FAMILY PROMOTION
Government eases rules for global sourcing of medical gear
Pavan Choudary, chairman, Medical Technology Association of India (MTAI), termed the move a path-breaking effort by the government towards equitable policy making, spanning the crucial last mile which was uncovered so far.
Promoter selling can cross Rs 1 lakh crore mark as retail investors buy using MFs
With retail investors continuing to be on a buying spree using the mutual fund route, the trend of stake sale by promoters in NSE500 companies looks on track to cross the Rs 1 lakh crore mark.
Promoters to sell a 2.04% stake in Polycab India on Friday
The promoters owned a 65.24% stake in the company as of March 31, 2024. Shares of Polycab have rallied 28% so far this year, compared to a 10% gain in the Sensex.
Why these Chinese working mothers don't want more babies
A woman leading a financial team earning more than her husband, another pursuing a dream to become a civil servant, and a budding influencer aiming to be the family breadwinner are all young mothers in China who have one thing in common: they are raising one child and don't want another, regardless of their husbands' opinions or the government's incentives aimed at addressing an aging population.
Sebi orders Religare to apply for open offer before July 12
Sebi directs Religare Enterprises to obtain approvals from all regulators by July 12 for Burman family's open offer to buy more shares. The regulator's order challenges Religare's management, led by Rashmi Saluja, who opposes the Burmans' bid to increase their stake in the company.
Business families seek legal advice to amend tightly written deeds of family settlement amid global expansion plans
Business families, particularly in India, are increasingly seeking legal counsel to amend rigid Deeds of Family Settlement (DFS) originally drafted decades ago. These deeds, designed to safeguard inheritances, now pose challenges as younger generations seek to expand globally into new sectors like fintech, tech-led consumer businesses, and electric vehicles. Legal experts note that the old deeds lack flexibility for today's globalized and dynamic business environment, prompting families to consider amendments to address issues such as wealth protection, succession planning, and regulatory compliance.
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Who is Sidhartha Mallya's girlfriend Jasmine? Age, love story; know everything here ahead of wedding
Sidhartha Mallya, son of businessman Vijay Mallya, is set to marry his girlfriend Jasmine this week. The couple, who got engaged in October 2023, has been dating for over a year. Jasmine, known for her love for travel and advocacy work, shares a strong bond with Sidhartha, including a mutual passion for the Harry Potter series.
From Ramayana to cricket, management lessons for India’s family businesses
As part of its Family Business Excellence Series launched in Mumbai, TriChambers identified aspects that can help such businesses achieve their highest potential.
Oyo finalises Rs 1,000 crore fundraise from Indian family offices
Oyo fundraise: Hospitality startup Oyo is raising around Rs 1,000 crore from family offices and investors. The fundraise aims to value Oyo at about $2.5 billion, marking a significant decrease from its peak valuation of $9 billion in 2021. Oyo is slated to hold an extraordinary general meeting (EGM) on Tuesday to approve the fundraise.
ED seeks details of police probe in Religare 'cheating case'
The Enforcement Directorate (ED) has reportedly sought details from the Mumbai police regarding its investigation into a cheating case related to the attempted acquisition of Religare Enterprises by the Burman family. The ED is likely to register a money laundering case in connection with this matter. The case, filed by shareholder Vaibhav Gawli, named Dabur group chairman Mohit Burman, his family members, and former REL promoters Malvinder and Shivinder Singh among the accused. JM Financial, the manager of the Burmans' open offer, is also implicated. The Burman family has denied any wrongdoing, stating that the allegations are baseless.
Ayushman Bharat expansion is prescription for nation's health
JP Nadda, new Health Minister, sets agenda for first 100 days including extending Ayushman Bharat scheme to 70+ age group and launching U-Win vaccine portal.
IndiGo promoter offloads 2% stake in Rs 3,367 crore block deal
InterGlobe Enterprises, owned by Rahul Bhatia's family, sold 2% stake in IndiGo for Rs 3,367 crore, marking their first stake sale post IPO.
IndiGo promoter Bhatia family may sell 2% for $394 million
Bhatia Family selling 2% stake in IndiGo for ₹3,292.3 crore through a block deal. First stake sale post IPO. InterGlobe Enterprises selling shares. Lock-up period of 365 days post deal. IGE to invest in hospitality, launching Miiro hotels in Europe.
N Chandrababu Naidu's family's wealth surges Rs 1,225 crore as Heritage Foods shares double in 12 days
Chandrababu Naidu's family's wealth surges with Heritage Foods shares rising over 105%. Naidu's party, Telugu Desam Party, wins big in Andhra Pradesh elections.
Chandrababu Naidu family's fortune up by Rs 858 crore as Heritage Foods stock soars 64% in 5 days
On Friday, shares of Heritage Foods hit a fresh 52-week high of Rs 661.75 on the BSE. On the day before the final phase of polling and the exit polls, the stock had ended at Rs 402.80. The stock gave a stellar show between June 3 and June 7.
VC funds take a shine to new gen’s D2C brands
Direct-to-customer (D2C) startups founded by scions of traditional business families are raking in venture funding across sectors like food, apparel, and wellness. Investors see these entrepreneurs' deep understanding of the business and connections in the supply chain ecosystems as a recipe for modernising legacy businesses.
Bharti AXA-SBI Life sale talks collapse, PEs may throw in hat
The Indian government is monitoring imports of laptops, tablets, and servers, focusing on 27 companies under the Production linked incentive (PLI) scheme 2.0 for IT hardware. The government is preparing to replace the current import management system with an import authorisation mechanism to make the country a global manufacturing hub.
Modern Family: Will there be a reunion or reboot? Ed O'Neill reveals what fans can expect
Amid swirling speculation regarding a potential "Modern Family" reunion or reboot, Ed O'Neill, renowned for his portrayal of patriarch Jay Pritchett, recently offered his perspective on the matter.
Strategies for effective implementation of family business constitutions
This article explores strategies for the effective implementation and bridging the divide between the aspirational ideals outlined in the constitution and the lived reality of day-to-day interactions, long-term strategies, decision-making processes, and familial aspects of harmony and togetherness.
Suits & Sayings: Destination Scanner
ET’s roundup of the wackiest whispers and murmurs in corporate corridors & policy parlours
Religare moves HC over Sebi 'inaction'
Religare has asked the court to direct Sebi to conduct a forensic audit to unearth the facts behind the grievances raised by it and to submit to the court a detailed report on the actions taken by the capital markets regulator.
Tax free settlement of family assets: How Godrej like family arrangement can help in redistribution of wealth among members without capital gain tax
The Supreme Court of India permits re-distribution of wealth using family arrangement among the members of the family. Further using this method eliminates the possibility of the family memebers paying any capital gains tax. The Godrej family recenlty used this process. Read here to know how you too can use family arrangement process.
Cipla promoters to sell up to 2.53% for Rs 2,637 crore
The move, days after the company posted its best annual results, has triggered speculation that more such transactions could be in the offing. The collapse of the $7 billion sale last year after lengthy negotiations had reportedly led to divisions within the family, according to people with knowledge of the matter.
Promoter entities likely to sell 2.5% stake in Cipla worth Rs 2,637 crore: Report
Promoters of drugmaker Cipla are expected to offload 2.53% of their stake in a block deal worth Rs 2637 crore on Wednesday, according to sources.
How family businesses need to combine intuition with data-driven processes for hiring professionals
Infusing external talent to bring fresh perspectives, specialised expertise and strategic insight is imperative to propel the business forward. However, the senior talent acquisition process is not without challenges.
Adani Power shares jump over 7% after Gautam Adani, Rajesh Adani revoke pledged holdings
Shares of India's largest private thermal power producer, Adani Power surged 7.4% to Rs 527 after the company's promoters, Gautam Adani and Rajesh Adani revoked pledged shares worth Rs 8,638 crore.
PFC seeks legal view on Shapoorji Pallonji promoters' Rs 15,000 crore loan ask
State-owned Power Finance Corp (PFC) is seeking legal counsel regarding the approval of a ₹15,000 crore loan to the promoters of the Shapoorji Pallonji (SP) Group, leveraging their 18.37% shareholding in Tata Sons as collateral. Earlier this year, the Mistry family, who are the promoters, proposed obtaining funds from the lender based on cash flows from their real estate business and their Tata Sons shares.
INDIA bloc promoting own family members, while Modi working for poor, backward: Amit Shah
The central government provided houses to 82 lakh beneficiaries and also took a number of other steps for the welfare of the poor, he said. According to the senior BJP leader, the Modi government was providing five kilograms of free ration per person every month to 70-80 crore people in the country. Although the Congress has ruled the country for a long time, it has not done anything for the tribal community, he alleged.
View: Time for hum do, hamare do 2.0?
While demographic and lifestyle changes have led to this global trend, most countries have failed to acknowledge and reward their women for the socioeconomic value of their ability to reproduce. Instead, women feel penalised by being unpaid and unrecognised producers, nurturers and caregivers. And even when they are rewarded, it is often too late. For instance, South Korean construction group Booyoung is offering workers a $75,000 bonus for each baby they produce when the country's fertility rate dropped from 0.78 in 2022 to 0.72 in 2023. The administration has spent $270 bn in incentives since 2006 to improve the birth rate.
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