February 2024 – Page 29

Add to cart: Is Flipkart buying Dunzo?

Cash-strapped Dunzo is also backed by Alphabet's Google. In October 2023, Quick commerce platform Dunzo’s co-founder Dalvir Suri quit the company at a time when the startup was facing a funding crunch, delayed payments to employees and layoffs. (Image source: Unsplash and Justdial)

While talks are still ongoing, complexities surrounding Dunzo’s ownership structure are posing a challenge for the two parties to come to an understanding over a deal, reports indicate.

The wait is over. Visionaries – Bengaluru Edition is here!

The Visionaries programme for CXOs and executives provides an unparalleled view and deep insights into how the best and brightest function in complex times.

After the stellar success of the first edition, Storyboard18’s Visionaries initiative goes to the innovation capital of India, Bengaluru. Celebrate the leaders, innovators and growth drivers on February 28.

Mahindra’s Classic Legends, maker of Jawa, plans to take BSA bikes deeper into the UK

Mahindra & Mahindra (M&M) announced on December 13, 2023, that, in collaboration with external investors, it will infuse Rs 875 crore into Classic Legends Pvt Ltd (CLPL). (Representative Image: Guruprasath Chandrasekaran via Unsplash)

Classic Legends is the owner of brands such as Jawa, Yezdi, and BSA, operating in India’s rapidly expanding premium motorcycle segment.

Amazon targets value-seeking Indian consumers with new vertical, Bazaar

The World Trade Centre, which has served as Amazon India’s headquarters since the company’s inception, houses 18 of its 30 floors, accommodating around 5,300 employees.

Amazon Bazaar has started on-boarding sellers, asking them to list unbranded fashion and lifestyle products.

Tarun Chhabra to be Nokia’s country manager; replaces Sanjay Malik

The firm, in a statement, said Chhabra will continue in his role of head of mobile networks market India in addition to assuming India country manager responsibilities.

Tarun Chhabra will be replacing Sanjay Malik who retires on March 31.

HC rejects Reebok’s plea seeking conversion to Limited Liability Company

The Registrar further said that various prosecutions have been filed by the Serious Fraud Investigation Organization (SFIO) against Reebok for offences under the Companies Act and the Indian Penal Code (IPC). (Image source: Unsplash)

The Delhi High Court upheld the RoC’s rejection of Reebok India’s conversion to Limited Liability Company.

Layoffs: Nokia India to cut 250 jobs as part of cost-cutting exercise and restructuring plan in India

In October 2023, Nokia had decided to reduce its cost base and increase operational efficiency and the programme is expected to lead to a 72,000 – 77,000 employee organisation compared to the 86,000 employees. (Image source: Moneycontrol)

The company also announced Tarun Chhabra as the new Country Manager for India. Chhabra will be replacing Sanjay Malik who is to retire on March 31.

Zee Entertainment faces fresh woes as SEBI uncovers $240 million discrepancy

The market regulator has highlighted that the allegations in the July 2022 show-cause notice will be subsumed with the findings of the further investigation carried out by SEBI.

As per reports, this figure is roughly ten times larger than SEBI’s initial estimates, raising concerns about financial irregularities within Zee.

Yum Restaurants may sell entire stake in Devyani International for Rs 815 crore

As of December 30, Yum Restaurants India held 5 crore shares in Devyani International. Yum Restaurants India had bought a 4.41 percent stake in Devyani International in September 2021 after which it had maintained its stake in the company. (Image source: YouTube)

Devyani International is the largest franchisee for Yum Brands which operates KFC, Pizza Hut, and Taco Bell in India and the sole franchisee for Costa Coffee.

NCLT restrains Star India from stopping Essel-backed Siti Network’s TV signals

Star had issued a disconnection notice to Siti on January 25 for non-payment of outstanding subscription dues, requiring the platform to make the payment within three weeks or face disconnection, as per reports. (Image source: Justdial)

Star-Siti wars continue, but the NCLT has granted interim relief to Siti.