CCD owner found dead; body recovered
A day after he went missing under suspicious circumstances, VG Siddhartha, the owner and founder of the largest coffee chain in India, Cafe Coffee Day (CCD), has been found dead. Siddhartha's body was finally recovered around 6:50 am on Wednesday morning. He was missing from the Netravati dam site in Karnataka since Monday evening. As per his driver, he got off from his car near a bridge in Kotekar on the Netravati River near Mangalore around 6.30 pm on Monday and did not come back.
CBI books Rolls Royce in corruption case
The CBI has booked London-based Rolls Royce in a corruption case for allegedly paying over Rs 77 crore as commission to an agent to win contracts from public sector undertakings HAL, ONCG and GAIL during 2007-11, officials said Tuesday. The action comes after a five-year-long inquiry by the agency initiated on the basis of a complaint from the Defence Ministry which had received a letter about the engagement of Singapore-based Ashok Patni and his company Aashmore Pvt Ltd by Rolls Royce, they said.
Parliament clears amendments to companies law
Parliament on Tuesday cleared amendments to the companies law that will tighten norms pertaining to CSR spending for corporates, strengthen enforcement provisions and help declog National Company Law Tribunal. Rajya Sabha passed the Companies (Amendment) Bill, 2019 was passed by voice vote on Tuesday and the legislation would replace ordinance issued by the corporate affairs ministry.
MTNL to merge with BSNL? Telecom ministry approves revival plan, claims report
The Telecom Ministry has given its consent for the merger of the loss-making state-owned Mahanagar Telephone Nigam Ltd (MTNL) with Bharat Sanchar Nigam Ltd (BSNL). The move is a part of a revival plan approved by the ministry. Following the merger, MTNL would be converted into a subsidiary of BSNL. The merger would be carried out after resolving issues such as human resources, the Hindu BusinessLine reported. As per a memo approved by Telecom Minister Ravi Shankar Prasad, a joint committee will be set up to monitor the whole process over the next 18 months.
Flipkart opens first offline space; 1,800 sq ft experience centre launched in Bengaluru
Flipkart has made its first move into the offline space by opening an experience store in Bengaluru. The company's first Furniture Experience Centre is spread across nearly 1,800 sq ft and would offer a touch and feel experience to the customers in the fast-evolving online furniture market, as mentioned by the company in a statement. According to the company, this is a step towards helping customers understand the vast selection of furniture offered by Flipkart and increase awareness around the seamless buying and installation experience it offers.