MITTAL CORPORATION
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The NSE Nifty index closed 93.1 points down at 24548.7
HUL appoints Vivek Mittal as Executive Director, Legal and Corporate Affairs
Hindustan Unilever Limited (HUL) has appointed Vivek Mittal as its new Executive Director of Legal and Corporate Affairs. Mittal, currently Global General Counsel at Dr. Reddy's Laboratories, brings over 25 years of experience and will succeed Dev Bajpai in March 2025. CEO Rohit Jawa expressed confidence in Mittal's ability to lead the legal function's growth.
A&M planning to hire senior execs to expand corporate finance practice
Alvarez & Marsal (A&M) is bolstering its corporate finance team in India, appointing Mohit Khullar as managing director. A&M plans to double its corporate finance staff to 40 professionals within two years, focusing on sectors like healthcare and manufacturing. The firm has previously advised on major deals, including Tata Sons' acquisition of Air India and ArcelorMittal's buyout of Essar Steel.
IBC under scrutiny: RBI's Rao urges better oversight for creditors¡¯ committees
RBI Deputy Governor M Rajeshwar Rao advocated for a mandatory code of conduct for the Committee of Creditors (CoC) in insolvency resolutions. He highlighted issues like prioritizing individual interests over collective ones and disagreements over valuation and distribution. Rao suggested empowering the IBBI to enforce these norms and emphasized the deterrent role of insolvency processes.
Bharti Airtel names Shashwat Sharma MD, CEO
Bharti Airtel has appointed Shashwat Sharma as the CEO, effective January 1, 2026. Current MD and CEO, Gopal Vittal, will transition to Vice Chairman, guiding Sharma in his new role. Vittal will also take on broader telecom responsibilities and join the board of Airtel Africa.
Airtel chairman Sunil Mittal set to get a new deputy, Shashwat Sharma to become new MD & CEO
Bharti Airtel has announced that Shashwat Sharma, the current COO, will become the MD & CEO starting January 1, 2026, as part of the company's planned succession. Gopal Vittal, the current MD & CEO, will be elevated to Vice Chairman and join the Board of Airtel Africa Plc, focusing on group synergies and strategic leadership.
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'Easier' policy for Musk's Starlink: Akash Ambani, Mittal raise concerns at event attended by Modi
At the India Mobile Congress, Akash Ambani of Jio and Sunil Mittal of Airtel raised concerns about easier market access for multinational corporations. They emphasized issues such as local data storage and spectrum auctions. The event highlighted a potential clash with Elon Musk's Starlink and Jeff Bezos's Project Kuiper entering the Indian market.
TV Narendran elected as worldsteel Chairman; second Indian to head global body
Thachat Viswanath Narendran, MD and CEO of Tata Steel, has been elected as the chairman of the World Steel Association. He is the second Indian to hold this position, following JSW Group Chairman Sajjan Jindal. The association also elected Ugur Dalbeler and Leon Topalian as Vice Chairs.
SpaceMantra pulls out resolution plan for Future Lifestyle
SpaceMantra withdraws its ?490 crore bid for Future Lifestyle Fashions days before winning creditors' vote, citing delays and value erosion. Creditors, including lead lender SBI, face hurdles in recovery as the consortium fails to comply with payment obligations, risking only the ?2 crore deposit.
Your income tax payments have boosted govt collections by 53%; how much did companies put in?
Govt income tax collections: The government saw robust tax collections during the first four months of FY 2024-25. This is likely to help government to attain target of lower fiscal deficit. However, the internals of tax collection are worrying at the margin. Barring income tax, all the other components of tax are reporting very muted growth in collection.
Airtel CEO Vittal writes to heads of Jio, Vi, BSNL & Tata Tele, wants cos to share details of corporate connections
Indian telecom operators are exploring collaboration to tackle spam calls and messages. Bharti Airtel CEO Gopal Vittal has suggested sharing corporate connection details among rivals like Reliance Jio and Vodafone Idea to monitor misuse. This initiative follows government directives aimed at reducing unsolicited commercial communications and emphasizes collective responsibility in addressing the issue.
Anupam Mittal praises quality roads in Rajasthan, asks 'Mumbai waalon ne kya paap kiya hai?
Shark Tank India judge Anupam Mittal has criticized Mumbai's road conditions after visiting Rajasthan, praising the latter's infrastructure. His comments have sparked social media discussions, with many agreeing on Mumbai's deteriorating roads. Filmmaker Vivek Agnihotri also criticized the BMC for poor road designs. Efforts to improve Mumbai's roads have yet to show results.
'We need to look beyond the flag of the ship': IFSCA chairperson K Rajaraman
Ship leasing from GIFT City is drawing global attention as India aims to improve its modest 1.4% share of global shipping tonnage. Key companies like Great Eastern Shipping and Reliance have registered, with over 10 ships leased. Challenges include licensing duplicity and the need for reforms in ship registration laws. The IFSCA is actively engaging with stakeholders and ministries to address these issues, aiming to bolster India's ship ownership and strategic fleet growth.
View: An Indian billionaire bets on overcoming UK NIMBYs
Sunil Mittal of Bharti Enterprises praised British Telecom¡¯s prospects following his group¡¯s significant investment in BT Group from Altice UK. Recognizing BT¡¯s existing infrastructure and slow broadband development, Mittal saw potential for substantial returns amid Britain¡¯s urgent need for better connectivity. Drawing from Bharti¡¯s telecom success in India, Mittal believed their experience could help navigate UK¡¯s planning challenges and improve 5G and broadband connectivity. The investment aligns with Keir Starmer¡¯s vision of boosting Britain's infrastructure, with hope that swift and predictable enhancements could follow.
Bharti rules BT waves: Why Sunil Mittal was on Patrick Drahi's speed dial
After years of strategic missteps, operational challenges and a languishing stock, Sunil Mittal will have to add a lot more of his entrepreneurial chutzpah than his $4 bn cheque to ring in a turnaround.
From Jaguar, Hamley's to BT: The colony strikes back as Indian biz royalty takes over Britannica
India is second-largest FDI source for UK; 954 Indian cos generate $65 billion in annual revenues. Conquering the complexities of the Indian market may have been challenging for UK businesses but for their Indian counterparts, the UK has always been a strategic outpost.
Manoj Mittal takes charge as Chairman and Managing Director of SIDBI
He has over 33 years of extensive experience in the Finance sector, including his previous tenures as Managing Director and CEO at Industrial Finance Corporation of India (IFCI) and Deputy Managing Director at SIDBI.
Karnataka: Money laundering probe widens in multi-crore Valmiki corporation case
The role of Additional Director of state Social Welfare Department B Kallesh, who claimed that the officials of the federal agency were pressuring him to name Chief Minister Siddaramaiah, arrested former minister and Congress MLA B Nagendra and the finance department, has also come under an "enhanced scrutiny" after it was gathered that he was recently suspended by the state government on charges of corruption in his department.
Valmiki Corporation Probe: Karnataka HC stays Bengaluru Police FIR against two ED officials
The Karnataka High Court stayed an FIR against two ED officials probing the illegal transfer of government funds for tribal welfare to personal bank accounts. The court criticized the FIR, suggesting it could hinder ongoing investigations, and stressed that investigating government officers in this manner would deter others from working. The case involves alleged funds transfer of Rs 89.
Lower face value to enable more retail investors bond with the best corporates
The Securities and Exchange Board of India (Sebi) last week decided to lower the face value of listed bonds to ?10,000, from ?1 lakh. The regulator had in 2022 reduced the face value of such securities to ?1 lakh from ?10 lakh.
Zee to cut workforce by 15% to reduce costs
Zee had recently fired 50% of its staff at the Technology & Innovation Centre (TIC) in Bengaluru. The company, which incurred an expenditure of ?600 crore on TIC, aims to cut down its expenses by 50%.
View: Lifting veil on corporate political donations via poll bonds throws troubling questions
Electoral bonds data revealed major donors' name, raising concerns about the relationship between money and politics ahead of the upcoming Lok Sabha elections. The disclosure of anonymous electoral bonds sheds light on hidden transactions and highlights the need for transparency in democratic processes.
View: How titles helped the British monarchy thrive
The British TV serials Yes Minister and Yes Prime Minister were a hit in India. Sunil Mittal of Bharti Enterprises received an honorary knighthood, raising questions about Indian citizens accepting British titles post-independence. The British Empire used titles to reward and bind Indian rulers.
It's time to rationalise and repair telecom tariffs: Sunil Mittal, Bharti Airtel
Sunil Bharti Mittal, founder of Bharti Enterprises, receives an honorary Knighthood for his contributions to UK and India business relations. In an interview, Mittal discusses Bharti Airtel, investment in 5G spectrum, rationalizing tariffs, India-UK economic ties, and the challenges faced by India's telecom industry. He says: "We need more investments into fibres, infrastructure and rural areas. Eventually be ready for 6G as well."
Workplace interior design companies see big business in smaller towns
Small-town entrepreneurs are increasingly investing in modern office interiors, leading to a surge in demand for workspace interior companies. Local businesses in cities like Jaipur, Panchkula, and Sonipat are renovating their offices with modern designs, open chambers, and collaboration areas. Startups like OfficeBanao and 91Squarefeet are catering to this demand, offering services for commercial interiors in tier-2 cities. This trend is driven by the ambition of small-town business owners, who seek quality office interiors to enhance productivity and competitiveness.
Corporate India's power brigade turns out in full force at Ayodhya
India Inc's power brigade, including Mukesh Ambani, Sunil Bharti Mittal, Kumar Mangalam Birla, and other prominent business leaders, attended the Ram Temple consecration ceremony in Ayodhya. Notable attendees also included Nishant Pitti, CEO and co-founder of EaseMyTrip, and Zoho CEO Sridhar Vembu.
Megha Engineering, Serum Institute, ArcelorMittal top list of corporates in political funding through trusts, says ADR Report
The BJP received Rs 259 crore or 70.69% of the total donations received by all political parties from electoral trusts. The BRS got Rs 90 crore or a fourth of the total donations received by all parties from all five electoral trusts. Other three political parties including YSR Congress, AAP and the Congress together got Rs 17.40 crore.
Banks seek relaxation in account takeover norms
A bank executive said that the lenders made this representation to the government after widely held internal deliberations among state-run banks. "There are already various checks and balances in place. These guidelines create undue restrictions in normal business dealings," he argued. Former financial services secretary DK Mittal under whose tenure this circular was issued said that this was done after due consultation with all stakeholders.
'Won't endorse that': Sunil Bharti Mittal counters businessman on comparing Lagos with Delhi on safety
Bharti Enterprises Founder and Chairperson Sunil Bharti Mittal on Friday countered a fellow panelist who shared an incident to compare Lagos with Delhi on safety parameters during a session at the B20 summit here. Mittal said Delhi has become a safe place and billions of dollars of investments are being poured in.
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