SRS GROUP
Edelweiss Financial Services shares fall 17% post RBI action on 2 companies
Shares of Edelweiss Financial Services plummeted by 17% on the BSE, hitting a day's low of Rs 64, following a directive from the Reserve Bank of India (RBI). The RBI directed the company to cease and desist from acquiring financial assets due to concerns arising from structured transactions conducted by its group entities.
Rajinikanth bestowed golden visa by UAE government, Thalaiver says he is ‘deeply honoured’
Superstar Rajinikanth was recently honored with a golden visa by the UAE's Department of Culture & Tourism. Expressing his gratitude, the 'Thalaivar' took to social media to thank the government of the United Arab Emirates and his friend MA Yusuff Ali, chairman and managing director of Lulu Group, for this warm gesture.
Piramal can get back 75% at least of Rs 600-cr loan
Piramal plans to conduct a Swiss Challenge on the initial offer and will make an announcement soon. Previously, HDFC had sold a real estate developer portfolio, including Tridhaatu Realty, to Assets Care and Reconstruction Enterprise (ACRE) ARC.
Piramal gets premium for Rs 531 crore residual bad loans
The Piramal Group has sold its bad loans worth ₹531 crore to Omkara Asset Reconstruction Co., including properties like a JW Marriott hotel and a Crowne Plaza unit. The deal was done at a premium, resulting in a profit of over ₹700 crore for Piramal. The loans were initially sold to Omkara ARC in a structured deal, with 15% paid in cash and the rest issued as security receipts.
NFRA slaps 1-year ban, imposes fine on auditor for lapses in SRS Ltd audit
In its order, the audit regulator slapped a fine of Rs 1 lakh on Apoorve Bansal of SVP & Associates, who was the Engagement Quality Control (EQC) reviewer for the statutory audit of SRS Ltd. Besides, Bansal was also debarred for one year from undertaking any audit in respect of financial statements or internal audit of the functions and activities of any company or body corporate, the regulator said in an order on Tuesday.
NFRA imposes fine, debars auditors for 3 yrs for professional misconduct, other lapses in audit of SRS Ltd
An investigation by SFIO had revealed that the company and its group companies had presented financial statements containing false statements of debtors and indulged in the malpractice of round-tripping and layering of transactions resulting in inflated purchases and sales.
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Arcil offers Rs 700 cr for L&T Fin's Xrbia book
Arcil offered ₹700 crore in a combination of cash and security receipts for a portfolio of ₹880 crore, the people said. The ARC's offer would translate into a recovery of 80% for the finance company.
Bankers question NARCL's offer for twin Srei Group companies
The National Asset Reconstruction Company's (NARCL) bid to take over the debt of the twin Srei Group NBFCs is being questioned by some bankers who believe the government-backed bad-loan aggregator, instead of competing with other funds to take over companies, should focus on its mandate: Consolidate bad loans from banks.
Kia to recall 105,000 Rio cars in Russia
The recall affects Kia Rio models assembled between 2013 and 2018 at the Hyundai Motor Group factory in the Russian city of St Petersburg, Russia's federal agency for technical regulation and metrology (Rosstandard) said.
ED attaches over Rs 2,500-crore assets of Haryana-based SRS Group in connection with fraud case
SRS Group, as per information provided on its official website, is a diversified business house with a "strong presence" across multiple sectors that include gold and jewellery, commodities, cinemas, retail, hospitality, financial services, real estate, education and health care.
India registers 26.9 per cent decline in Maternal Mortality Rate since 2013: SRS Bulletin
The ratio has declined from 167 in 2011-2013 to 130 in 2014-2016 and to 122 in 2015-17, registering a 6.15 per cent reduction since the last survey figures of 2014-2016, according to the special bulletin of the Office of the Registrar General.
Andhra Pradesh records highest number of married people: SRS survey
The national average for those who “never married” was 49.5% with 54% males and 44.6% females.
SRS Multiplex business put up for sale
SRS Multiplex, which operates under the SRS Cinemas brand, is a mid-size chain operating in tier-II and III cities in the Delhi-NCR region and northern India.
SRS Cinemas enters Jharkhand with launch of multiplex in Ranchi
Over a time span of 12 years SRS Cinemas has grown from a single theater based to a large, mature player that is now a well-established name in Cinemas.
SRS Group to invest Rs 200 crore in multiplex business
The screens, equipped with technology and innovation, will offer a customised theatre geometry and powerful digital sound system, the company said.
SRS Cinemas launches online ticketing service offering savings on tickets
Currently, over 30 per cent of buyers are opting for online booking, while the company wants to convert the remaining 70 per cent buyers to adopt the digital route.
SRS Cinemas to expand in South, East India; eyes 100 screens
The company said it will invest around Rs 45 crore to Rs 60 crore to set up new properties with a special focus on tier II, II and IV cities in the southern market.
SRS Group plans to open around 300 pharmacies in next 5-7 years
SRS Group, which is foraying into the pharmacy segment, plans to open around 300 drug stores over the next three to five years in the country.
SRS Ltd to invest up to Rs 900 crore in 2 years for expansion
SRS Ltd, which reported a turnover of Rs 3,824.84 crore in the previous fiscal, has presence across various sectors.
After SRSGrocery.com, SRS Group to open 3 more online portals
SRS Group is readying to expand its presence across the country. It plans to launch three more e-commerce portals for pharmacy, jewellery and food soon.
SRS Group embraces Beti Bachao Beti Padhao mission
The best part is that they have effectively integrated the various brands of the SRS Group, wherever possible, to deliver the advantages.
SRS Group forays into online retail
According to the company, the website will have international standards in terms of product range and merchandising, promotions and customer focus.
SRS Cinemas in expansion mode, aims to double screens in 2015
SRS Cinemas, the multiplex chain of SRS Group, is currently in an expansion mode and has earmarked a huge corpus to add more screens to its current portfolio.
SRS Group enters 25th founding year
The multi-domain Rs 5000-crore plus SRS Group is celebrating its 25th Anniversary this year.
How SRS Group became a Rs 4,500-crore business
Our flagship company in entertainment and lifestyle sector, SRS Limited, posted revenues of Rs 2,888 in the last financial year and is listed on the BSE and NSE.
SRS Cinemas in expansion mode, celebrates spirit of womanhood
SRS Group is currently in an expansion mode for its multiplex chain, SRS Cinemas, and will invest about Rs10 crore to add more screens.
SRS Group: How Anil Jindal built his Rs 5000 cr empire with a seed capital of Rs 10 lakh
Launching SRS as a brand and foraying into so many verticals proved to be a challenge. It was a new domain, and we had nothing to fall back on.
SRS Group inaugurates 2.25-lakh sq ft SRS Tower
The technologically-advanced SRS Tower promises to change the skyline of Faridabad
SRS Cinemas plans to add 18 screens by FY 13-end
SRS Cinemas plans to add close to 20 screens to take its total count to 51 screens by the end of this fiscal as it eyes expansion across cities.
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