Purbalee Dutta

The Enforcement Directorate (ED) has provisionally attached over 132 acres of land belonging to Dhirubhai Ambani Knowledge City in Navi Mumbai, valued at ₹4,462.81 crore, as part of its probe into alleged fund diversion by the Anil Dhirubhai Ambani Group. Earlier in the day, the agency also seized the Ambani family residence in Mumbai’s Pali Hill, the Reliance Centre in Delhi, and several properties across eight cities in connection with investigations into Reliance Home Finance and Reliance Commercial Finance. Reliance Infrastructure clarified in a filing that business operations, shareholders, and employees remain unaffected, adding that Anil Ambani has not been…

Hindustan Unilever Ltd (HUL) announced that it has received approval from the National Company Law Tribunal (NCLT) to demerge its ice-cream business into a separate entity, Kwality Wall’s (India) Ltd (KWIL). The Mumbai bench of NCLT approved the Scheme of Arrangement under Sections 230–232 of the Companies Act. This restructuring aligns with Unilever’s global Growth Action Plan (GAP), which aims to spin off its ice-cream division globally. As part of the plan, HUL will transfer all its ice-cream brands—Kwality Wall’s, Cornetto, Magnum, Feast, and Creamy Delight—to KWIL. HUL shareholders will receive one share of Kwality Wall’s for every HUL share…

Shares of Motilal Oswal Financial Services Ltd. fell nearly 8% on Wednesday, October 29, following SEBI’s proposed changes to brokerage fee norms. The market regulator, in its draft regulations released Tuesday evening, suggested lowering the cap on brokerage commissions paid by mutual funds. Under the proposal, brokerage fees on cash market trades would drop from 12 basis points to 2 basis points, while fees on derivatives transactions would be reduced from 5 basis points to 1 basis point. Pratik Gupta of Kotak Institutional Equities told CNBC-TV18 that if implemented, the move could significantly affect small and mid-sized brokers, emphasizing that…