 "The NCLT reverses approval of the Zee-Sony merger as parties agree to withdraw due to unresolved disputes. Dramatic fallout ensues.")
The National Company Law Tribunal (NCLT) recently approved the withdrawal of its order regarding the merger between Zee Entertainment and Sony Pictures Networks India. This decision follows an agreement between the two companies to resolve their six-month dispute over a failed USD 10 billion merger. The NCLT recalled its earlier approval from August 10, 2023, ...
 "Regulatory reports expose Samsung and Xiaomi’s collusion with Amazon and Flipkart, breaching antitrust laws and harming competition in India.")
Recent investigations by India’s Competition Commission have found that major smartphone brands like Samsung and Xiaomi colluded with Amazon and Flipkart to break antitrust laws. Reports indicate that these companies engaged in exclusive product launches and prioritized selected sellers, harming competition and local retailers. Both Amazon and Flipkart allegedly favored preferred sellers, offering them discounts ...
 "India’s import tax hike on edible oils aims to support struggling farmers, dramatically impacting global prices amid election pressures.")
India has increased import taxes on crude and refined edible oils by 20 percentage points to support local farmers facing low oilseed prices. This decision raises the total import duty on palm oil, soyoil, and sunflower oil to 27.5%, significantly impacting the prices of these oils and potentially reducing demand from overseas. The new duties ...
 "Amid escalating tensions, the Houthis threaten maritime safety, targeting vessels and igniting fears of an environmental disaster in the Red Sea.")
A European Union naval mission is working to salvage the Greek-flagged oil tanker Sounion, which has been burning in the Red Sea following attacks by Yemen’s Houthi rebels. The mission aims to create a secure environment for tugboats to assist with the towing operation. Since August 21, the Houthis have targeted over 80 vessels, leading ...
 "Tensions escalate in Bangladesh as thousands protest for minority rights following the ousting of Prime Minister Sheikh Hasina.")
Thousands of Hindus protested in Dhaka and Chattogram, Bangladesh, demanding justice for attacks on their community since the ousting of former Prime Minister Sheikh Hasina on August 5. The demonstrators called for a fast-track tribunal to address violence against minorities and advocated for a dedicated ministry to focus on minority affairs. They expressed their frustration ...
 "LG Electronics plans a .5 billion IPO for its Indian unit, aiming to boost revenue and capitalize on India’s growth potential.")
LG Electronics is planning a potential initial public offering (IPO) for its Indian business, aiming to raise between $1 billion and $1.5 billion. This move could value LG Electronics India Pvt Ltd at around $13 billion. The company has selected major banks like Bank of America, Citigroup, JPMorgan Chase, and Morgan Stanley to manage the ...
 "Congress alleges Sebi Chairperson Madhabi Puri Buch traded sensitive securities worth ₹36.96 crore, sparking a dramatic conflict of interest scandal.")
The Congress party has intensified its criticism of Madhabi Puri Buch, the chairperson of the Securities and Exchange Board of India (Sebi), claiming she traded nearly Rs 36.96 crore in securities while in her position, potentially violating ethical codes. Congress leader Pavan Khera raised concerns about Buch’s investments in foreign funds, including several Chinese ETFs, ...
 "Government raises customs duties on edible oils to boost farmer incomes, while also slashing onion export duties for increased trade.")
The Indian government has announced an increase in customs duties on crude palm and refined sunflower oil, raising them to 20% and 32.5%, respectively. This move is expected to significantly benefit farmers, especially those in key producing states like Maharashtra and Madhya Pradesh, as it will help raise their income. Additionally, the government removed the ...
 "Delhi CM Arvind Kejriwal visits Hanuman Temple for blessings after Supreme Court grants bail amidst ongoing legal troubles.")
Delhi Chief Minister Arvind Kejriwal announced he will visit the Hanuman Temple in Connaught Place today at noon to express gratitude and seek blessings. His visit follows the Supreme Court granting him bail in the Delhi excise policy case, with certain conditions. These include a surety bond of Rs 10 lakh, a prohibition on entering ...
 "Byju’s faces a shocking bankruptcy ruling in the U.S., conflicting with ongoing insolvency proceedings in India, igniting creditor disputes.")
Byju’s, the Indian ed-tech giant, faces a surprising US court ruling that placed its subsidiaries into involuntary Chapter 11 bankruptcy due to non-compliance with creditor demands. This decision impacts companies like Neuron Fuel Inc. and Epic! Creations Inc., conflicting with ongoing insolvency proceedings in India. Byju’s Interim Resolution Professional, Pankaj Srivastava, is seeking to halt ...
