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1 Minute-Read

Family-run businesses make substantial CSR investments: Report

Family-run businesses make substantial CSR investments: Report

According to the latest India Philanthropy Report 2025, the top four business families in India — Tatas, Ambanis, Adanis, and the Birlas — were responsible for 20% of the total CSR contributions made by family-owned or family-run companies in FY2023-24

Staff Writer

India's social spending is seeing steady growth, primarily driven by the public sector, the latest India Philanthropy Report 2025 by Bain & Company in collaboration with Dasra noted.

However, despite being the fifth-largest economy globally, India is facing a significant funding deficit in the social sector, which is anticipated to increase over the next five years.

According to the latest India Philanthropy Report 2025, the top four business families in India — Tatas, Ambanis, Adanis, and the Birlas — were responsible for 20% of the total corporate social responsibility (CSR) contributions made by family-owned or family-run companies in the fiscal year 2023-24. On average, the top four families contributed between Rs 800 crore to Rs 1,000 crore per family group, ranging from Rs 200 crore to Rs 1,500 crore.

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India nears 11 crore credit cards amid HDFC, SBI, ICICI leading the expansion race

India nears 11 crore credit cards amid HDFC, SBI, ICICI leading the expansion race

Major banks in India are aggressively expanding their credit card portfolios as the market anticipates stabilisation in unsecured loans

Staff Writer

In January, major Indian banks aggressively expanded their credit card portfolios, accounting for nearly 90% of all new cards issued, according to data from the Reserve Bank of India (RBI). HDFC Bank, SBI Cards, and ICICI Bank were the top issuers contributing to a year-on-year growth of 9.5% in the total number of credit cards in India, now standing at 10.89 crore, The Economic Times reported.

The industry added 8.2 lakh new credit cards in January, led by HDFC Bank with 3 lakh cards, followed by SBI Cards (2.4 lakh) and ICICI Bank (1.8 lakh).

Despite the surge in card issuance by major banks, smaller institutions remained cautious, issuing only 1 lakh new credit cards. This caution is attributed to rising delinquencies and the RBI's stringent risk-weight regulations.

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Technology

Delhi HC orders Amazon to pay Rs 340 crore in trademark infringement case

Delhi HC orders Amazon to pay Rs 340 crore in trademark infringement case

In 2020, Lifestyle Equities CV initiated a trademark infringement lawsuit against Amazon Technologies and others, alleging that they used a deceptively similar mark on apparel and other products sold on their platforms

Staff Writer

The Delhi High Court has awarded Lifestyle Equities damages of $39 million, approximately Rs 340 crore, after ruling that Amazon infringed upon its 'Beverly Hills Polo Club' trademark.

The order was passed by Justice Prathiba M Singh, and a detailed copy is awaited. According to a report in Bar and Bench, in 2020, Lifestyle Equities CV initiated a trademark infringement lawsuit against Amazon Technologies and others, alleging that they used a deceptively similar mark on apparel and other products sold on their platforms.

Specifically, it was claimed that Amazon Technologies was manufacturing and selling products under the brand 'Symbol' with the infringing mark, and Cloudtail India was also involved in the sale of these products on the Amazon.in marketplace.

The High Court initially granted an interim injunction on October 12, 2020, restraining Amazon and others from using the infringing logo and directing Amazon Seller Services to remove the infringing products from their platform.

Amazon Technologies did not appear in court and was proceeded against ex-parte. The interim injunction was confirmed and made absolute, the report added. In 2023, Cloudtail India expressed willingness to accept a decree of injunction and proposed a settlement involving damages, but mediation was unsuccessful. Cloudtail acknowledged using the infringing mark from 2015 to July 2020, with revenue from infringing products amounting to Rs 23,92,420 and a profit margin of approximately 20 per cent.

The report stated that Cloudtail's counsel argued that damages should be solely its responsibility, citing an Amazon Brand License and Distribution Agreement that placed liability on Cloudtail for any breaches.

However, Lifestyle contended that the infringing mark was not part of this agreement and that both Amazon and Cloudtail should be held liable. The court acknowledged Cloudtail's admission of liability but emphasised that Lifestyle could not be denied the opportunity to seek damages from Amazon. Based on the undisputed sales figures provided by Cloudtail, the court decreed the suit in favour of Lifestyle against Cloudtail, awarding damages of Rs 4,78,484, representing 20 per cent of the revenue from infringing products.

The court recognised Amazon Seller Services' role as an intermediary and their compliance with its directions. Since no substantive relief was sought against them, and they agreed to remove any future listings of infringing products, they were removed from the list of parties involved.

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UltraTech Cement bets Rs 1,800 crore on wires and cables, eyes December 2026 launch

UltraTech Cement bets Rs 1,800 crore on wires and cables, eyes December 2026 launch

The cement manufacturer's board has approved the plan under its building products division, reinforcing the company’s strategy to position itself as a complete building solutions provider

Staff Writer

UltraTech Cement, India’s largest cement manufacturer, announced its foray into the wires and cables business with an initial capital expenditure of Rs 1,800 crore over two years.

The company aims to commence operations in this segment by December 2026, with a production facility set to be established in Bharuch, Gujarat.

The move is positioned as an extension of UltraTech’s presence in the construction value chain. Kumar Mangalam Birla, chairman of the Aditya Birla Group, stated, “We intend to expand our presence in the construction value chain through our foray in the cables and wires segment, which aligns with our vision of providing comprehensive solutions to our end customers in the construction sector.” UltraTech’s board has approved the plan under its building products division, reinforcing the company’s strategy to position itself as a complete building solutions provider. The company plans to leverage its extensive manufacturing expertise and strong customer connections to deliver high-quality wires and cables.

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Technology

Swiggy CEO Rohit Kapoor highlights qualities for ideal new hires

Swiggy CEO Rohit Kapoor highlights qualities for ideal new hires

The head of Indian online food delivery company emphasises resilience, drive, authenticity, and character in hiring, focusing on intrinsic personal qualities over technical skills

Staff Writer

Rohan Kapoor, head of Swiggy Food Marketplace, has shed light on the key attributes he seeks in potential employees, underlining a focus on resilience, drive, authenticity, and strong character.

During a recent appearance on the Josh Talks Podcast, Kapoor articulated his belief that hiring transcends mere technical proficiency; it is more about nurturing individuals who embody these core qualities.

He stated emphatically, "Hiring is more art than science. You can have all the checklists in the world, but at the end of the day, teams aren’t built on bullet points, they’re built on people," highlighting his philosophy that effective teams are constructed around people, not just qualifications. Resilience stands out as one of the primary traits Kapoor prefers, reflecting his conviction that it is a predictor of how candidates will manage adversity in their professional roles. Kapoor said that the ability to navigate personal and professional challenges is indicative of a candidate's capacity to perform under pressure. Alongside resilience, the drive remains a critical attribute. Kapoor emphasised that while skills can be imparted, the intrinsic hunger and ambition that fuels an individual's success cannot be taught.

"You can teach skills, but you can’t teach drive. You can hand someone an opportunity, but you can’t make them hungry for it. And in an interview, you can almost always tell in the first few minutes," Kapoor remarked, pointing to the immediacy with which genuine motivation becomes evident. Authenticity also plays an essential role in Kapoor's hiring criteria. He stressed that within the first few minutes of an interview, it is usually apparent whether a candidate is genuine or projecting a façade. He values honesty and sincerity, as they often correlate with a candidate’s ability to blend well within a team. Kapoor’s approach diverges from conventional hiring practices that rely heavily on checklists and qualifications, instead valuing real human connections and interpersonal dynamics.

In addition to the aforementioned qualities, Kapoor places significant weight on character, believing it is equally as important as competence. He asserts that great teams are built on a foundation of strong character. This perspective suggests that while technical competence is necessary, it is the ethical and moral fibre of individuals that ultimately drives team success and cohesion.

Kapoor's approach positions character as a non-negotiable trait in his hiring decisions, underscoring the importance of personal integrity and ethical conduct. Kapoor's insights, shared via platforms like Instagram, reinforce his belief that successful teams are anchored by robust personal attributes rather than merely technical skills.

His hiring philosophy advocates for a balance, where the intrinsic qualities of resilience, drive, authenticity, and character are seen as the bedrock of high-performing teams. This perspective invites a broader industry reflection on how hiring practices can evolve to prioritise personal qualities alongside technical abilities, potentially leading to more cohesive and effective teams.

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Corporate

SEBI slaps Rs 5.05 cr penalty on Indian Clearing Corporation Ltd. for regulatory lapses found during audit

SEBI slaps Rs 5.05 cr penalty on Indian Clearing Corporation Ltd. for regulatory lapses found during audit

During the inspection, non-compliance with key regulatory provisions, particularly in cybersecurity and disaster recovery, was noted

Staff Writer

The Securities and Exchange Board of India (SEBI) has levied a fine of Rs 5.05 crore on the Indian Clearing Corporation Ltd (ICCL) for various violations.

The violations included submitting the Network Audit Report to SEBI without Governing Board comments and not maintaining correct and up-to-date asset inventory, as well as incorrectly classifying mission-critical servers. SEBI's Quasi Judicial Authority, G Ramar, referenced the Dr. Bimal Jalan Committee's report on ‘Review of Ownership And Governance Of Market Infrastructure Institutions (MIIs)’ from November 2010 in the order issued on February 25. ICCL, established in 2007 as a wholly owned subsidiary of BSE Ltd, underwent an inspection by SEBI for the period of December 1, 2022, to July 31, 2023. During the inspection, non-compliance with key regulatory provisions, particularly in cybersecurity and disaster recovery, was noted.

The main allegations include:

* Failure to adhere to the Cyber Security and Cyber Resilience Framework

* ICCL neglected to maintain an up-to-date inventory of IT assets, including software assets and criticality classification.

* Despite conducting the required audit, ICCL did not promptly address cyber audit observations within the specified timeframe. 

* Failure to meet System and Network Audit Requirements ICCL submitted the Network Audit Report to SEBI without input from management or the Board.

While the ICCL Board later claimed to have resolved all audit observations, SEBI discovered unresolved IT asset inventory issues. Non-compliance with Business Continuity Plan (BCP) and Disaster Recovery (DR) Guidelines: The configuration of primary servers (PDC) and disaster recovery servers (DRS) did not align, in violation of SEBI's requirement for a one-to-one correspondence. The committee report stated: "These institutions (i.e., stock exchanges, depositories and clearing corporations) are systemically important for the country’s financial development and serve as the infrastructure necessary for the securities market. These institutions are collectively referred to as Market Infrastructure Institutions (MIIs)… They are, therefore, ‘vital economic infrastructure’.

The recent financial crisis has shown the importance of financial institutions to economic stability."

The regulator asked ICCL to pay the penalty within 45 days of receiving its order.

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Corporate

RIL to invest Rs 50,000 crore in Assam in five years: Mukesh Ambani

RIL to invest Rs 50,000 crore in Assam in five years: Mukesh Ambani

Advantage Assam Summit 2:0: Mukesh Ambani said that in the previous summit in 2018, Reliance had committed to an investment of Rs 5,000 crore in the state but it was buoyed to Rs 12,000 crore

Staff Writer

Reliance Industries Ltd; (RIL) Chairperson Mukesh Ambani said that the conglomerate would quadruple its investment to Rs 50,000 crore over the next five years. He said that they would establish an artificial intelligence data centre, world-class hubs of compressed biogas, mega food park, a seven-star Oberoi Hotel, and double the number of Reliance Retail stores.

“Reliance will establish an AI-ready Data Center in Assam. With this, students will benefit from AI-assisted teachers. Patients will benefit from AI-assisted doctors. Agriculture will benefit from AI-assisted farmers. And AI will help Assam’s youth to learn from home and earn from home,” said Ambani in the Advantage Assam 2.0 Investment and Infrastructure Summit. Ambani said that in the previous summit in 2018, Reliance had committed to an investment of Rs 5,000 crore in the state but it was buoyed to Rs 12,000 crore.

Reliance will make Assam a hub of clean and green energy, including nuclear energy in line with the government’s new policy. “Reliance will build two world-class hubs of Compressed Biogas, or CBG, over wasteland in Assam. These will produce 8 lakh tonnes of clean biogas annually, enough to fuel 2 lakh passenger vehicles every day,” he said.

The conglomerate will also set up a Mega Food Park, hence adding value to the abundant agricultural and horticultural produce of Assam. “We have already set up a world-class bottling plant in Assam for Campa and an independence range of packaged drinking water,” said Ambani. Reliance will also double the number of Reliance Retail stores in the country from around 400 to over 800 stores in the next five years, he said. “To boost the high-end hospitality economy in Assam, Reliance will build a luxurious, seven-star Oberoi hotel in the heart of the state,” he said. These five initiatives will create tens of thousands of direct and indirect employment opportunities for the youth in Assam.

Reliance Foundation, with its ‘Swadesh’ stores, would collaborate with the state government to promote ‘Green Gold’ or bamboo, and the centre of the famous silk industry, Sualkuchi. Ambani said that Prime Minister Narendra Modi brought Assam and the Northeast from the periphery to the centre of India’s developmental map, heralded a new era of connectivity revolution, and made technology the main driver of development in the state.

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1 Minute-Read

Tata, Bharti groups finalising merger of DTH businesses Tata Play, Airtel Digital TV: Report

Tata, Bharti groups finalising merger of DTH businesses Tata Play, Airtel Digital TV: Report

Airtel is expected to hold 52-55 per cent of the combined entity, while Tata Play shareholders, including Walt Disney will hold 45-48 per cent

Staff Writer

The Tata and Bharti groups are reportedly nearing the finalisation of a merger between their direct-to-home (DTH) businesses, Tata Play and Airtel Digital TV. This merger comes as audiences are gradually moving away from DTH to digital platforms.

According to a report in The Economic Times, the merger will take place through a share swap, which will increase Airtel’s non-mobile revenues.

As per the report, Airtel will hold more than 50 per cent in the combined entity. Airtel is expected to hold 52-55 per cent of the combined entity, while Tata Play shareholders, including Walt Disney will hold 45-48 per cent. Airtel’s senior management is expected to run the entity, while Tata is expected to keep two seats on the board, the report added. Both sides are expected to announce the terms of agreement soon. The due diligence will commence after that. Both the operations are reportedly being valued at around Rs 6,000-7,000 crore. The two entities had a total 35 million paid subscribers as of September 2024, and the FY24 revenues exceeded Rs 7,000 crore.

With the deal, Airtel will get access to Tata Play’s 19 million homes. The deal would be the second major transaction in the DTH sector in about a decade, following the Dish TV-Videocon d2h merger in 2016.

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Beyond

Chanda Kochhar makes comeback with a new role, launches podcast ‘Journey Unscripted’

Chanda Kochhar makes comeback with a new role, launches podcast ‘Journey Unscripted’

Former ICICI Bank chief says, she is is "open to everything” at the moment and that this podcast can lead to bigger things

Staff Writer

Former ICICI Bank chief, Chanda Kochhar, who was ousted from the role following allegations of loan fraud, is now easing into a new role – that of a podcaster.

She launched her YouTube podcast series, ‘Journey Unscripted with Chanda Kochhar’ earlier this month. Kochhar told Hindustan Times, who first reported on this, that she believes people’s journeys are a “huge source of learning”.

She said that understanding how people deal with situations can be a huge source of learning that she wants to take to a larger set of people. The banker, who is out on bail at present along with her husband, is awaiting the resolution of their case. She told the news daily that she is “open to everything” at the moment and that this podcast can lead to bigger things. She said she does the research and chooses the guests herself, and aims to do three podcasts a month.

Her first guest on the show was Harsh Mariwala, founder and chairman of Marico. Her second guest will be an actor but she refused to disclose the name. Chanda Kochhar’s podcast has been executed and produced by The Salt Inc, an independent content and design agency, with a focus on technology. The banker, 63, who was recruited by ICICI Bank in 1984, went on to become its MD and CEO in 2009. Kochhar was one of the most celebrated names in the industry, was also named one of the 100 most powerful women by Forbes in 2010. She was awarded the prestigious Padma Bhushan, as well as several international awards. However, it all came apart when the Central Bureau of Investigation launched a preliminary inquiry into allegations of loan fraud in 2017.

She was accused of misusing her role as the bank’s head to issue loans worth Rs 3,250 crore to Videocon Group of Industries. In 2019, CBI in its FIR stated that Kochhar was part of the sanctioning committee that disbursed Rs 300 crore to Videocon promoter Venugopal Dhoot, and the company finally defaulted on it. The CBI accused Kochhar of being part of a quid pro quo between Dhoot, her husband Deepak Kochhar, and herself. Videocon reportedly invested Rs 64 crore in Deepak Kochhar’s company NuPower Renewables a day after Rs 300 crore loan was cleared for Videocon.

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Corporate

Adani Group reports ₹58,104 crore in tax contributions for FY24, up 24.7% from last year

Adani Group reports ₹58,104 crore in tax contributions for FY24, up 24.7% from last year

The reports cover tax contributions from seven listed entities, including Adani Enterprises, Adani Ports & SEZ, Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, and Ambuja Cements

Staff Writer

Adani Group has disclosed a total tax contribution of ₹58,104.4 crore for the financial year 2023-24, marking a 24.7% increase from ₹46,610.2 crore in FY23.

The figures were released as part of the group's Tax Transparency Reports, underscoring its commitment to governance and accountability.

The reports cover tax contributions from seven listed entities, including Adani Enterprises, Adani Ports & SEZ, Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, and Ambuja Cements. Additionally, tax data from NDTV, ACC, and Sanghi Industries—held by these companies—is included. Adani Group has disclosed a total tax contribution of ₹58,104.4 crore for the financial year 2023-24, marking a 24.7% increase from ₹46,610.2 crore in FY23. The figures were released as part of the group's Tax Transparency Reports, underscoring its commitment to governance and accountability.

The reports cover tax contributions from seven listed entities, including Adani Enterprises, Adani Ports & SEZ, Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, and Ambuja Cements. Additionally, tax data from NDTV, ACC, and Sanghi Industries—held by these companies—is included.

Adani Group stated that voluntary tax disclosures aim to enhance transparency, build stakeholder trust, and align with global best practices. The full reports are available on each company’s website.