The Mumbai bench of the National Company Law Tribunal (NCLT) allowed the company’s operational creditor Connect Residuary to initiate the insolvency proceedings. The operational creditor had approached the bankruptcy court in November last year after the company defaulted on its dues of about Rs 5.37 crore.
New jobs in general staffing - which excludes IT staffing - grew 7.3 per cent in July-September, driven by rise in demand in FMCG, e-commerce, manufacturing, retail, logistics, banking, hospitality, tourism, insurance, infrastructure, said ISF's Flexi Staffing Employment Growth report. On the other hand, new jobs in IT staffing remained under pressure, growing a modest 2.2 per cent in September quarter.
ARCL has offered ₹100 crore to acquire ₹1,241 crore principal outstanding debt of the engineering procurement and construction (EPC) company undergoing insolvency proceedings. Based on the NARCL anchor offer, lenders have invited expressions of interest by October 15 and scheduled e-bidding on October 31.
This development comes amid lower debt and rapid growth in business for the ports-to-energy conglomerate helmed by Asia's richest man Gautam Adani.
There was a 20% increase in the number of harassment complaints received by Nifty 50 companies in FY22 compared with the year-ago period, data from the latest available annual reports showed.
There was a 20% increase in the total number of harassment complaints received by Nifty 50 companies in FY22 compared with the year-ago period, data from the latest available annual reports showed. However, the number of reported cases continues to be lower compared with the pre-pandemic times.
The former employee who raised the complaint had alleged that between November 2003 and March 2008, the company deducted salaries of around 30,000 employees with the assurance of issuing them shares of L&T but instead, according to the complaint, it issued them redeemable preference shares of L&T Welfare Co, a unit of L&T, the official said.
The World Economic Forum on Tuesday announced the addition of 11 factories and industrial sites, including three from India, to its Global Lighthouse Network. From India, the additions are pharma major Cipla's Indore facility, Dr Reddy's Laboratories' Hyderabad facility and the Mondelez facility in Sri City.
