The Patiala House Court on Tuesday extended the Enforcement Directorate custody of three Vivo-India executives by two days. The executives are being investigated for money laundering in connection with the Chinese smartphone maker and others. The three accused, including the interim CEO, were freshly arrested by the Enforcement Directorate (ED) in an ongoing investigation related […]
China has pledged to provide consular protection and assistance to two Chinese employees of smartphone maker Vivo who were recently arrested by Indian authorities. The foreign ministry spokesperson, Mao Ning, emphasised China’s firm support for Chinese companies in safeguarding their lawful rights and interests. He urged India not to discriminate against Chinese companies and expressed […]
DOMS Industries onboarded Saumitra Prasad as its new Chief Marketing Officer (CMO). Prasad shared the news on this LinkedIn post stating, “I’m happy to share that I’m starting a new position as Chief Marketing Officer at DOMS Industries Limited!” His extensive experience in the Fast-Moving Consumer Goods (FMCG) sector spans over 25 years. Before joining […]
Flipkart, the ecommerce marketplace, has unveiled FlipTrends 2023 — a view into India’s online shopping landscape. The FlipTrends Report offers insights into the evolving preferences and behaviour of Indian online shoppers, based on Flipkart’s understanding of over 500 million registered users. Riding the wave of the festive season, consumer sentiment remains positive across the country, […]
The Rouse Avenue Court has sought a report from Tihar Jail Authorities in regard to an application moved by Hariom Rai, Managing Director of Lava International against shifting him to a separate jail in Tihar. ED recently arrested Chinese national Guangwen Kuang, Lava International’s MD Hariom Rai Nitin Garg and Rajan Malik under a different […]
Coffee chain Third Wave Coffee Roasters has reportedly laid off approximately 120 employees as part of a restructuring initiative, following its recent fundraise. According to media reports, mid- and senior-level personnel across various departments, including business development, design, sales, marketing, supply chain management, and strategy teams, have been affected. The restructuring involves retaining only two […]
Toy manufacturer Hasbro on Monday said that it will be reducing its workforce by approximately 1,100 jobs, constituting 20 per cent of its employees, as the challenges in the toy industry persist through another holiday season. The company revealed the layoffs in a memo to employees, as reported by The Wall Street Journal. These job […]
Manu Ahuja, Managing Director and CEO of Jubilant Industries died on Saturday, according to a BSE exchange filing, adding that “Ahuja’s sudden and unexpected passing away will be an irreparable loss to JACPL and all the Directors and Employees of JACPL convey deep sympathy, sorrow, and condolences to his family.” “We regret to inform you […]
Sleep solutions company Duroflex has appointed Sridhar Balakrishnan as its group CEO, it announced in a press release on Thursday. In the past, Balakrishnan has served Marico as its COO for 17 years, as President of Star India and as CEO at ACC Cement. Commenting on his appointment, Mathew Chandy, CMD, Duroflex said, “Sridhar’s wealth […]
Enforcement Directorate has filed its main Prosecution Complaint (Chargesheet) in connection with a Prevention of Money Laundering Act (PMLA) case connected to the Chinese mobile phone company Vivo in Delhi’s Patiala House Court. The chargesheet was filed against Chinese national Guangwen Kuang, Andrew, the MD of Lava International Hariom Rai, and two other individuals Nitin […]
