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Kotak AMC, executives seek settlement in Essel Group debt dispute
The case dates back to the 2019 Essel liquidity crisis, when a sharp fall in Zee Entertainment's share price triggered margin calls on pledged shares securing debt held by six Kotak fixed maturity plans (FMPs). The case relates to Kotak Mutual Fund's six close-ended debt schemes (FMPs), which had invested in zero coupon non-convertible debentures (NCDs) issued by Konti Infrapower & Multiventures and Edison Utility Works, part of the Essel Group, the promoter group of Zee Entertainment Enterprises.
Kotak AMC, executives seek settlement in Essel Group debt dispute
The case dates back to the 2019 Essel liquidity crisis, when a sharp fall in Zee Entertainment's share price triggered margin calls on pledged shares securing debt held by six Kotak fixed maturity plans (FMPs). The case relates to Kotak Mutual Fund's six close-ended debt schemes (FMPs), which had invested in zero coupon non-convertible debentures (NCDs) issued by Konti Infrapower & Multiventures and Edison Utility Works, part of the Essel Group, the promoter group of Zee Entertainment Enterprises.
ICICI Prudential Mutual Fund reduces stake in Entertainment Network India Ltd by over 2% - scanx.trade
ICICI Prudential Mutual Fund reduces stake in Entertainment Network India Ltd by over 2%scanx.trade
PM Modi, Japan PM Takaichi jointly inaugurate Maruti Suzuki's Kharkhoda plant
Prime Minister Modi and his Japanese counterpart inaugurated Maruti Suzuki's expansive new manufacturing facility in Haryana, a significant investment bolstering India's automotive sector. This advanced plant, built with Industry 5.0 technologies and a focus on sustainability, marks a key step in the 'Make in India, Make for the World' initiative. The inauguration occurred during the India-Japan Economic Forum, highlighting deepening bilateral cooperation.
Ola Electric tops Nifty 500 gainers as Delhi EV policy boosts electric two-wheeler stocks
The rally follows the Delhi Cabinet's approval of the new EV Policy on Monday, which will come into effect from July 1. Under the policy, registration of new internal combustion engine (ICE) two-wheelers will cease from April 1, 2028, with only electric two-wheelers eligible for registration thereafter.
Stocks in news: Prime Focus, Groww, GIC RE, Wipro, Nykaa
Indian benchmark indices traded with a positive bias, with the Nifty consolidating near the 24,000 mark and closing near its day's high. Several companies, including Prime Focus, GIC RE, Wipro, Groww, and Nykaa, were in focus due to significant news developments. These ranged from regulatory approvals and successful acquisitions to strategic AI collaborations and expansion into international markets.
Sebi allows AIFs to retain liquidation proceeds beyond fund life
Markets regulator Sebi on Tuesday issued guidelines to permit Alternative Investment Funds (AIFs) to retain liquidation proceeds beyond their permissible fund life under specified circumstances. The regulator also introduced an 'Inoperative Fund' framework for wound-up funds with residual obligations. The move follows amendments to the Sebi (Alternative Investment Funds) Regulations on April 18 aimed at providing operational flexibility to AIFs during the winding-up process and surrender of registration. Under the new framework, AIFs or their schemes may retain liquidation proceeds beyond the liquidation or dissolution period if they have received litigation notices or regulatory demands, obtained consent from at least 75 per cent of investors by value for retaining funds against anticipated liabilities, or need to meet residual winding-up related operational expenses, Sebi said in its circular. The regulator said litigation-related communications could include notices from tax ...
Zee Entertainment approves Rs 2,300 crore capital raise
Zee Entertainment Enterprises Ltd is raising at least Rs 2,300 crore. This capital will fund new business ventures and strategic plans. The company recently secured FIFA media rights until 2034. This move strengthens its balance sheet. Zee is also investing in digital platforms like Bullet and PhantomFX. The fundraising follows a challenging financial quarter for the broadcaster.
ASK Property Fund to raise Rs 3,500 crore for housing-focused debt strategy
ASK Property Fund is launching a new Rs 3,500 crore debt fund. This fund will finance residential projects in key Indian cities like Mumbai, Delhi NCR, Pune, Bengaluru, Chennai, and Hyderabad. The fund aims to support developers with structured financing for mid-segment housing. It will also focus on lender replacement and completing stalled projects.
Apple expands child safety tools as social media bans grow
Apple is enhancing tools for parents to safeguard children online. New features will allow parents to manage app usage, content access, and communication for their kids. This comes as governments worldwide are restricting social media access for minors. These updates aim to help families establish age-appropriate digital protections and healthy online habits.
Sebi classifies 'significant indices' based on Rs 20,000-cr AUM threshold
Sebi has introduced a new framework classifying indices as 'significant' if mutual funds track them with over Rs 20,000 crore in daily average AUM for six consecutive months. This move aims to boost transparency and accountability in index governance. Index providers offering these significant indices must now register with Sebi.
Stock markets can deliver years of zero returns, explains DSP Mutual Fund MD, CEO: Key takeaways for investors
Kalpen Parekh, MD and CEO at DSP Mutual Fund, shared an important insight in his post on social media platform X (formerly Twitter) that all markets can have long periods of zero returns.