The Kanpur-based group is being probed by the CBI and the ED in connection with the alleged swindling of Rs 3,695 crore of loan funds.

Bank of India, Bank of Baroda, Oriental Bank of Commerce, Allahabad Bank, Union Bank of India, and Bank of Maharashtra have jointly lent close to Rs 4,000 crore to the two Rotomac Group companies.

The court considered the facts and found that he was not entitled for interim bail on the said grounds.

The total outstanding amount, according to the agency, is approximately Rs 3695 crores. The agency had sealed the office and house of Vikram Kothari’s residence, in New Delhi.

The agency filed a chargesheet in the special court Lucknow dealing with Rs 456.63 crore loan of Bank of Baroda as the probe into remaining amount is continuing, officials said, adding that more chargesheets would be filed in the case

It alleged that these assets were the "proceeds of crime" of the illegal act of money laundering.

Special CBI judge M P Chaudhary fixed June 21 for next hearing of the case.

The offer comprises a fresh issue aggregating up to Rs 330 crore and an offer for sale of up to Rs 120 crore.

Shaw will feature in a line of exclusive limited edition stationery, inspired by and with inputs from him.

Complicated manufacturing and investment needs may have a role in keeping new players out of the business.

The company had also brought the Classmate Pulse Selfie notebooks, allowing personalisation of notebooks with a selfie on the cover.

The court allowed a day's transit remand for both the accused, who were arrested on Thursday for alleged default on loan repayment.

Rotomac violated FEMA rules and worked for interest rate differential in local and foreign currency in the guise of trade without having any genuine business transactions.

Earlier, the loan default was estimated at over Rs 800 crore but scrutiny of documents by CBI revealed that the amount is much larger.

Though the business is a precarious one, bookstores are here to stay as long as there are readers driven by a compulsion to read, say leading booksellers in the capital.

"We have 2,200 exclusive dealers or retailers and therefore what has worked well for us is this exclusive chain right from manufacturing to the consumer."

PwC, Microsoft, KPMG & EY to help business turn profitable by next fiscal.

As part of this association, "Parryware sanitaryware and faucets will be used for all Patanjali's upcoming projects across India," the company said in a statement.

The company is present in built-in kitchen appliances and claims to be the number three brand in the country.

Sebi shall also appoint an independent audit firm for conducting a detailed forensic audit of the books of accounts of Ricoh for the financial year 2012-13 onwards till date, the cost of which shall be borne by Ricoh.

"Some part of Kurl-on's business did get cannibalized with the opening of IKEA's first store in Hyderabad, but it is not a cause of worry," Sudhakar Pai, Chairman and MD, Kurl-on says.

Kalra was earlier associated with HSIL as Senior Vice President – Sales. Prior to joining HSIL, Kalra has held leadership positions at Sintex Industries, Somany Ceramics, and Pidlite Industries.

Shares of the New Jersey-based home furnishing retailer fell about 3 percent in mid-day trade.

According to the notification, companies that make phones priced at ₹15,000 and above and which make a cumulative investment of ₹1,000 crore over four years, starting with ₹250 crore in the first year, will qualify for an incentive of 6% for the first two years, followed by 5% for the next two and 4% in the fifth year..

Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.

Products such as laptops, smartphones and printers have become crucial for those working from home, while household appliances like washing machines, ACs, TVs and vacuum cleaners are now more important than ever for households.

There are another more than 30,000 microwave ovens, AC and washing machines which needs repair at a time when Indians are locked indoors and doing household chores themselves due to the lockdown.

​​Individually, each brand is seeking more clarity and approval on the guidelines. The guidelines say that we would have to open in a phased manner. All brands are gearing up to open up, wherever, it will be permitted," CEAMA President Kamal Nandi said.

Samsung has created an ecommerce platform in partnership with Benow.in along with mobile phone retailers across the country that will allow them to sell and deliver smartphones. Offline stores are also being used to fulfil orders placed on Samsung’s e-store for television and appliances.

The company plans to make investments of around Rs 210 crore on infrastructure development of the facility over the next four years.

Most consumer durables companies in India rely on imported components. Poor input supplies since January and later closure of factories, malls, shops and offices due to the lockdown hit consumer demand badly.

"Sales and profits of set products business, including smartphones and TVs, are expected to decline significantly as COVID-19 affects demand and leads to store and plant closures globally," Samsung said in a statement.

Both LG and Samsung have opened bookings for various products on their websites for limited periods and are offering gifts of up to Rs 10,000 on pre-bookings made during the lockdown period. LG has opened pre-bookings till May 15 and Samsung by May 8.

The company had recently contributed Rs 15 crore to PM CARES Fund.

Other markets account for approximately 27.9 per cent of Dubai's imports, a statement released here by organisers of Paper Arabia 2013.

About a fourth of the corrugated box makers in the country are in danger of shutting down over the next few months as they are unable to pass on cost pressures to their clients.

Documentation solutions firm Xerox today announced the appointment of Ashraf ElArman as Managing Director of its Indian unit, effective June 22.

At Myntra, Kamal was heading different verticals including logistics, operations excellence and the training function, where he built the in-house logistics team and scaled it to include more than 3500 people, spread across 80 plus towns and delivering over 100,000 packets a day.

While the financial terms of the acquisition, which was completed last month, were not shared, sources privy to the developments said the deal valued Print Bazaar at Rs 8-10 crore.

The boy topped Forbes' list of "Highest-Paid YouTube Stars 2018" with an impressive earning of USD 22 million.

"The company will invest another Rs 15 crore in another three months. The factory is close to Chennai port, thereby facilitating easy exports to our buyers abroad. We are happy to inaugurate our third manufacturing facility in India and production has already begun ,” said John Baby, chief executive officer (CEO), Funskool.

Reliance Retail’s marquee label operator Reliance Brands is the India master franchisee for Hamleys, which reputedly has its origins in the world’s oldest toy store in London that was opened in 1881.

Reliance Brands has completed acquisition of 100 per cent stake of Hamleys Global Holdings (HGHL) through a special purpose vehicle company set up in United Kingdom for cash consideration of GBP 67.96 million, Reliance Industries said in a BSE filing Thursday.

The startup plans to use the funds raised to focus on building unique phygital interactions, new product developments and expand its retail presence from 15 countries to more than 30 countries

The world’s largest publicly traded toymaker, which has licenses for popular franchises such as “Frozen” and the “Avengers,” said US goods produced in China could drop to about 50% by the end of 2020, from just under two-thirds currently.

More than two years after filing for bankruptcy, Toys 'R' Us has managed to make a comeback with the support of a competitor, just in time for the holiday season. The iconic toy brand has relaunched its website, shortly after US retail chain Target announced a partnership with the defunct brand's parent company Tru Kids Brands.

Hanung Toys and Textile Ltd owes Rs 2,300 crore from a consortium of 15 lenders led by state-owned PNB, which alone has exposure of Rs 599 crore.

​​H​​anung Toys and Textiles Ltd (borrowing account) dealing with the bank since 2008 had availed various credit facilities under consortium arrangement wherein, Karnataka Bank was one of the member banks, it said in a regulatory filing.

Imports account for almost 85 per cent of the total toys' demand in the country and only the remaining 15 per cent of the sale is met by the domestic manufacturers, according to the industry.

Myntra has launched toys from the stables of Hot wheels, Funskool, Lego, Barbie and Simba on its platform.