IL&FS has petitioned the NCLT to dismiss Chronos Properties’ plea regarding the BKC headquarters sale. IL&FS argues Chronos, backed by Brookfield, breached deal terms by failing to renew a mandatory performance guarantee for its Rs 1,080-crore bid. The dispute arose after IL&FS sought a revised consideration of Rs 1,296 crore, prompting Chronos to seek a…
India’s service sector surged to a 10-month high in June, fueled by increased new orders and robust overseas demand, particularly from Asian, West Asian, and US markets. This expansion led to job creation for the 37th consecutive month, although the pace slowed slightly from May.
India’s IPO market is regaining momentum, fueled by HDB Financial Services’ successful debut and easing geopolitical tensions. Startups like Meesho are leading the charge, with several others, including Pine Labs and Lenskart, preparing to file. Experts predict primary market fundraising could reach $2.4 billion in July.
Vishnu Manchu’s mythological epic, ‘Kannappa,’ featuring a star-studded cast including Prabhas and Mohanlal, has underperformed at the box office, earning Rs 30.10 crore in its first week. Despite a decent opening, collections dipped over the weekend and sharply declined during weekdays. Low theatre occupancy, particularly for the Hindi version, further contributed to the film’s struggles.
Opposition parties are backing a motion to remove Allahabad High Court Justice Yashwant Varma, according to Union Minister Kiren Rijiju. The move follows the discovery of charred cash at his residence after a fire.
Despite repeated appeals from the Supreme Court collegium, the Union government continues its selective approach to appointing High Court judges, leaving 29 advocates, including five women, in prolonged uncertainty. Some recommendations, dating back over two years, remain unacted upon, contrasting sharply with the swift processing of Supreme Court judge appointments.
Defence ministry has approved acquisition projects worth over Rs 1 lakh crore. The approvals include indigenous construction of mine countermeasure vessels, procurement of quick-reaction surface-to-air missile systems, and intelligence, surveillance, target acquisition & reconnaissance planes. Other projects include semi-submersible autonomous vessels, armored recovery vehicles, and electronic warfare systems to boost India’s defense capabilities.
Defence ministry has approved acquisition projects worth over Rs 1 lakh crore. The approvals include indigenous construction of mine countermeasure vessels, procurement of quick-reaction surface-to-air missile systems, and intelligence, surveillance, target acquisition & reconnaissance planes. Other projects include semi-submersible autonomous vessels, armored recovery vehicles, and electronic warfare systems to boost India’s defense capabilities.
