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Mumbai, Actor <keyword id="2104801" type="General" weightage="20" keywordseo="kartik-aaryan" source="Orion">Kartik Aaryan</keyword> is set to star in filmmaker <keyword id="3778" type="General" weightage="20" keywordseo="karan-johar" source="Orion">Karan Johar</keyword>'s upcoming home production, the makers announced on Wednesday. The untitled film will be directed by Sandeep Modi of "The Night Manager" fame. A <keyword id="62161" type="General" weightage="20" keywordseo="dharma-productions" source="Orion">Dharma Productions</keyword> and Balaji Telefilms Ltd presentation, the movie is a Dharma Productions project. It is produced by <keyword id="1732860" type="General" weightage="20" keywordseo="hiroo-yash-johar" source="Orion">Hiroo Yash Johar</keyword>, Karan Johar, Apoorva Mehta, Shobha Kapoor, <keyword id="18583728" type="General" weightage="20" keywordseo="Ektaa-R-Kapoor" source="Orion">Ektaa R. Kapoor</keyword>. Karan Johar shared the announcement in an Instagram post on the occasion of Aaryan's 33 birthday. This film is scheduled to be released on August 15, 2025. "Kickstarting today with some special news on a special day!! Extremely thrilled to announce @dharmamovies &amp; @balajimotionpictures coming together for a film helmed by the exceptionally talented @sandeipm. "I find myself elated to also announce the supremely talented @kartikaaryan as our lead for this story that will unfold in cinemas on 15th August, 2025!!!!" the 51-year-old filmmaker wrote. He also extended birthday wishes to Aaryan and expressed his desire to collaborate with the actor again. "Kartik, happy birthday to you...may our collaboration only grow from strength to strength from hereon and never cease to create magic on the big screen," he said. In 2019, it was announced that Aaryan and Karan Johar would work together on "Dostana 2". Two years later, the makers said they will be recasting for the movie amid rumours about differences between the producer and the actor.

Kartik Aaryan to headline Karan Johar's next film production

The <keyword id="48485" type="General" weightage="50" keywordseo="bombay-high-court" source="Orion">Bombay High Court</keyword> on Thursday refused relief to actor <keyword id="6357860" type="General" weightage="100" keywordseo="anushka-sharma" source="Orion">Anushka Sharma</keyword> and disposed of her petitions challenging orders passed by the state Sales Tax department demanding tax for assessment years between 2012 to 2016 under the <keyword id="16042124" type="General" weightage="50" keywordseo="maharashtra-value-added-tax-act" source="Orion">Maharashtra Value Added Tax Act</keyword>. A division bench of <keyword id="9774337" type="General" weightage="50" keywordseo="justices-nitin-jamdar" source="Orion">Justices Nitin Jamdar</keyword> and <keyword id="9265938" type="General" weightage="50" keywordseo="abhay-ahuja" source="Orion">Abhay Ahuja</keyword> said the actor had the alternate remedy of filing appeal against the orders under provisions of <keyword id="601688" type="General" weightage="50" keywordseo="maharashtra-value-added-tax" source="Orion">Maharashtra Value Added Tax</keyword> (MVAT) Act. <keyword id="445" type="General" weightage="90" keywordseo="sharma" source="Orion">Sharma</keyword> had filed four petitions challenging four orders passed by the Sales Tax department levying tax for assessment years 2012-13, 2013-14, 2014-15 and 2015-16 under the Act. "Why should we entertain the petitions when the petitioner (Sharma) has a full fledged remedy of appeal available under the Act? Statutory provision is available," the bench said. The court, while disposing of Sharma's petitions, directed her to file appeal before the Deputy Commissioner of Sales Tax (Appeals) within a period of four weeks. Under the Act, when a person files appeal, he or she will have to deposit 10 per cent of the tax amount levied by the department. As per the Sales Tax department, Sharma was the "first owner of copyrights" on her performances at awards functions or stage shows, and, therefore, liable to pay sales tax when she received income from them. As she "transferred" this <keyword id="15456337" type="TOPIC" weightage="60" keywordseo="Copyright" source="TOPIC" sourcekeytype="business,investopedia" meta.keywordsubtype="null" meta.msid="92982198" meta.seopath="c/copyright" meta.entityname="Copyright" meta.hostid="153" meta.entityid="copyright">copyright</keyword> to the producers of such events for a fee, it was akin to a sale, the Sales Tax department contended. Sharma's contention is an actor who performs in a film, advertisement or a stage/TV show cannot be called a creator or producer, and, hence, she or he does not own a copyright on the same. The court said all the issues raised by Sharma in her petitions can be decided by the appellate authority. "The authority will go into all the issues and conduct a detailed inquiry. If we sit to decide this, then every <keyword id="16987535" type="General" weightage="20" keywordseo="mvat-act" source="Orion">MVAT Act</keyword> matter will come here," the court said. The department had sought for the petitions to be dismissed and cost be imposed on Sharma as she had an alternate remedy available under the MVAT Act. According to Sharma's petitions, during the concerned period she performed in films and at award ceremonies as part of a tri-party agreement with her agent <keyword id="15841112" type="General" weightage="50" keywordseo="yashraj-films-pvt-ltd" source="Orion">Yashraj Films Pvt Ltd</keyword> and producers/event organisers. The assessing officer levied sales tax not on film consideration but on product endorsements and anchoring at award functions, holding that Sharma had transferred her performer's rights, her petitions said. For Assessment Year 2012-13, the sales tax demand, inclusive of interest, was Rs 1.2 crore on Rs 12.3 crore consideration and for 2013-14, it was Rs 1.6 crore on a consideration of Rs 17 crore. The sales tax department passed the orders between 2021 and 2022. Sharma is known for her roles in films like "PK", "Rab Ne Bana Di Jodi", "Sultan" and "Zero", among others. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/spicejet-cmd-ajay-singh-takes-over-as-the-president-of-industry-body-assocham/articleshow/99115277.cms">SpiceJet CMD Ajay Singh takes over as the president of industry body Assocham</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/sebi-directs-top-100-listed-firms-to-clarify-market-rumours-from-oct-1/articleshow/99115234.cms">SEBI directs top 100 listed firms to clarify market rumours from Oct 1</a>

Anushka Sharma gets no relief from Bombay HC on pleas against sales tax demand

The <keyword id="19905108" type="General" weightage="20" keywordseo="ministry-of-defence" source="keywords">Ministry of Defence</keyword> has sanctioned over Rs 300 crore through its <keyword id="20416767" type="General" weightage="100" keywordseo="technology-development-fund" source="keywords">Technology Development Fund</keyword> (TDF) to create an ecosystem aimed at enhancing capabilities in cutting-edge technology and promoting '<keyword id="20460685" type="General" weightage="20" keywordseo="aatmanirbharta" source="keywords">Aatmanirbharta</keyword>' in defence, an official statement said on Thursday. The Technology Development Fund (TDF) scheme is a flagship programme of the Ministry of Defence, executed by <keyword id="19948662" type="General" weightage="20" keywordseo="drdo" source="keywords">DRDO</keyword> under the '<keyword id="20018809" type="General" weightage="20" keywordseo="make-in-india" source="keywords">Make in India</keyword>' initiative. Under this initiative, the government provides grants-in-aid to Indian industries, including <keyword id="19910977" type="General" weightage="20" keywordseo="msmes" source="keywords">MSMEs</keyword> and <keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">startups</keyword>, as well as academic and scientific institutions, for the development of defence and dual-use technologies that are currently not available in the Indian defence industry. With these initiatives, the Ministry aims to engage private industries, especially MSMEs and startups, to foster a culture of design and development in military technology and support them with grants-in-aid. The TDF seeks to enhance the capacity and capability of Indian industries for the design and development of defence technologies in the country. It aims to create an R&amp;D ecosystem where industry and academia work together to meet the current and future requirements of the Armed Forces and the defence sector. The government aims to achieve 'Aatmanirbharta' in defence technology by building a robust defence manufacturing ecosystem in the country. The <keyword id="19910956" type="General" weightage="20" keywordseo="defence-ministry" source="keywords">Defence Ministry</keyword> on Wednesday highlighted several successful startups benefiting from the scheme. Pune-based startup <keyword id="22281521" type="General" weightage="20" keywordseo="Combat-Robotics" source="keywords" meta.keywordsubtype="org" meta.entityname="Combat Robotics" meta.hostid="153" meta.entityid="Combat Robotics">Combat Robotics</keyword>, with the help of the scheme, has successfully developed an innovative simulator for <keyword id="20146841" type="General" weightage="20" keywordseo="unmanned-vehicles" source="keywords">unmanned vehicles</keyword>. This multi-domain simulator supports unmanned ground vehicles (UGVs), unmanned underwater vehicles (UUVs), unmanned surface vehicles (USVs), and unmanned aerial vehicles (UAVs), serving as an excellent development tool for agencies working on autonomous systems. Another Pune-based defence equipment startup, ChiStats Labs Private Limited, is developing virtual sensors for aero gas turbine engine health monitoring, which helps to increase the operational reliability and longevity of the engines. The system is built on modern artificial intelligence/machine learning (AI/ML) technologies. Bengaluru-based NewSpace Research and Technologies Pvt. Ltd., under the project titled 'Autonomous Drone as First Responder for Search and Report Operations in Enclosed/Indoor Environments', has created a cutting-edge UAV capable of exploring indoor environments under various conditions, including zero light. The success of this project will open up various applications, including search and rescue operations, surveillance, industrial inspections, environmental monitoring, and hazardous environment exploration, contributing significantly to technological advancements in unmanned aerial systems, the Ministry added. The technology has been developed under the technical guidance and mentorship of CAIR, Bengaluru.

Defence ministry allocates Rs 300 cr for technology development fund to promote Make in India products

With emission and fuel efficiency norms getting tighter, <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>'s largest car maker <keyword id="6363602" type="General" weightage="50" keywordseo="maruti-suzuki-india-ltd" source="Orion">Maruti Suzuki India Ltd</keyword> expects to have only hybrid (mild and strong), flexible fuel, compressed natural gas (CNG), electric, bio-fuel powered vehicles, said a senior official. As a result, pure petrol powered cars may not figure in the company's portfolio of cars in a decade. Already the company has stopped rolling out diesel powered cars. <keyword id="44883" type="General" weightage="100" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword> is also focusing on growing its sport utility vehicle portfolio and the market share in that segment. "Pure petrol powered cars may not be there in the company's product line up, say in 10 years time as the emission and fuel efficiency norms are getting tighter," Shashank Srivastava, Senior Executive Director, Marketing &amp; Sales told IANS. He said the new Corporate Average Fuel Economy or Efficiency (CAFA per cent) norms may come into place in 2032. Unlike the norms for the tailpipe emissions, the CAFA% norms are for a carmaker's entire portfolio. More the fuel efficiency of a car, the less the tailpipe emissions. As there is a limit on achieving higher fuel efficiency with the current technology, companies are looking at alternatives. While electric vehicles are one option, it is not viable for the entire automotive segment in India in the short term owing to issues like availability of charging infrastructure, vehicle price and its payback period and others. The other option is rolling out vehicles powered by mixed fuel -- ethanol plus petrol, hybrid, flexible fuel, CNG and the like. Be that as it may, Maruti Suzuki is gearing up for unveiling its first midsize petrol-electric hybrid SUV on July 20. The vehicle will be rolled out in two variants-mild and strong. The car will be produced at the <keyword id="6374528" type="General" weightage="50" keywordseo="toyota" source="Orion">Toyota</keyword> <keyword id="298641" type="General" weightage="50" keywordseo="kirloskar-motor-pvt-ltd" source="Orion">Kirloskar Motor Pvt Ltd</keyword>'s plant in Karnataka's Bidadi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-a-little-over-11000-people-in-the-last-six-months/articleshow/92541036.cms">11,000 and counting — that’s how bad startup job losses are after Ola, Byju’s &amp; 22 others cut costs</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/indias-shehnai-the-musical-instrument-made-famous-by-ustad-bismillah-khan-seeks-a-gi-tag/articleshow/92692131.cms">India's Shehnai, the musical instrument made famous by Ustad Bismillah Khan, seeks a GI tag</a>

Maruti Suzuki to discontinue petrol-powered cars in 10 years

<ul><li><keyword id="7567" type="PERSON" weightage="20" keywordseo="Virender-Sehwag">Virender Sehwag</keyword>’s activewear and sportswear brand, ‘<keyword id="11783780" type="UNKNOWN" weightage="20" keywordseo="VS-by-Sehwag">VS by Sehwag</keyword>’, announced its foray into the online and e-commerce world on August 3.</li><li>On the back of a strong omnichannel presence and his huge fan following, the hard hitter is eyeing to acquire five million customers by 2026. He is also aiming to become a Rs 100 crore brand in 3 years.</li><li>We talk to the man behind the brand and India’s cricketing legend, Virender Sehwag to trace VS by Sehwag’s journey, challenges of finding your own space in a cluttered market when you are competing against international brands like Adidas, Nike and Puma, focus areas for H2 2021, marketing strategy and larger vision for the brand.</li></ul>Launched in March 2020, right before the global pandemic hit India, cricketing legend Virender Sehwag’s athleisure brand, VS by Sehwag, has been able to carve a niche for itself in a highly competitive and volatile market. The one-year-young VS by Sehwag is competing against international mega-brands like Adidas, Reebok, Nike and Puma and sportswear brands by former colleagues MS Dhoni, Yuvraj Singh and Virat Kohli. Sehwag spoke to us about the challenges he has faced in his new role as an entrepreneur, finding his own space in an otherwise cluttered market where his competition is against international brands, his focus areas for H2 2021, similarities and differences between running a business and cricket, marketing strategy and his larger vision for the brand. <div type="Video" msid="85043648" hostid="261" title="Virender Sehwag on future of sportswear category and journey of his athleisure brand VS by Sehwag" dataSource="BUSINESSINSIDER" thumbUrl="https://denmark.timesinternet.in/cmslite/api/app/images.jpg?msid=85043648"></div> While international players have a big head start, Sehwag is confident that at his attractive price range, no competitor will be able to beat him. He is looking at diving into the mass market by offering affordable price points to consumers in Tier II and III cities. “My USP is that our products are ‘#uncompromised’ with quality and price. Some people have to compromise with quality or compromise with money, but if you buy VS, you won’t compromise with anything. There’s a gap in the segment; it was either a big brand with quality products and too steep a price or a lesser brand at a lower price band, with subnormal quality- in either case shoppers had to compromise on one factor or the other. There is competition everywhere. Even when I was playing cricket, I was competing against my team players to score more runs than them. But if you offer the best price and quality, there’s no competition for you. There are so many other brands and good luck to them on meeting my price and quality offering,” Sehwag told Ad and Media Insider. He said that his brand pays close attention to quality as well, inspecting the design and durability of each product till a piece of fabric or kit does not feel ‘3D ready’ to him. He also said that his humble, middle-class upbringing and mindset is translated into his brand because he believes that India is a price-oriented country and it is easier to attract consumers at a lower price with long-lasting products. “If I offer the same quality product at 499 or 599, which usually costs you around Rs 3000-4000, consumers will buy my product and come again for its quality,” said Sehwag. According to <a href="https://www.ccfgroup.com/newscenter/newsview.php?Class_ID=600000&amp;Info_ID=20170221031">CCFGroup,</a> nearly 80% of India’s sportswear market is dominated by global brands like Adidas, Reebok, Nike and Puma, with others such as Under Armour, Fila and Lotto, domestic multi-brand sportswear retailers like Planet Sports and Royal Sporting House, and emerging local players, collectively battling for the remaining 20%. Between the four big sports brands, Adidas had a 45% market share in 2017. Now, with his foray into the e-commerce world, Sehwag is eyeing to acquire five million customers by 2026. Sehwag has already started ramping up the brand’s portfolio by adding over 30 new products to its existing 50 stock keeping units (SKUs) across categories like Tracks, T-Shirts, Jackets and Shorts and VS Gear- a range of Cricket Bats, Gloves and Pads. VS is also about to launch three stores this month in Vadodara (Gujarat), Kolhapur (Maharashtra) and Sultanpur (Uttar Pradesh) and has appointed distributors in Delhi, Faridabad, Bhopal, Indore, Sri Ganganagar and Kanpur. The brand’s first store was launched in Ahmedabad and it had added two more stores in the same city subsequently. It was unveiled under the aegis of <keyword id="11791176" type="UNKNOWN" weightage="20" keywordseo="viru-retail-pvt-ltd-">Viru Retail Pvt. Ltd.</keyword>, a joint-venture between Sehwag owned World of Viru Pvt. Ltd. and Stitched Textiles Pvt. Ltd. “We couldn’t open more stores due to the pandemic but now, we will open 5 stores outside of Gujarat in the next 40 days,” said Sehwag. As an entrepreneur, Sehwag says that he likes to play it safe unlike cricket, which is a game of risks. He said, “As a cricketer I could take risks but as an entrepreneur, I am more responsible because I have responsibilities on my shoulders to deliver the best quality products.” <cmsannotation type="cmsannotation" annotationid="Future of sportswear category and VS by Sehwag" text="Future of sportswear category and VS by Sehwag">Future of sportswear category and VS by Sehwag</cmsannotation> From 1997 when Sehwag started playing to today, he feels that the sportswear market hasn’t changed much apart from the fact that consumers have more disposable income today and they are willing to spend extra for quality products. After the pandemic, the sports world and the fashion industry have become more closer knit than ever before. Jogger pants and sports or polo t-shirts can be seen sported by everyone from young millennials to CEOs over Zoom calls. India’s sportswear market is also rapidly catching up with the wider global fitness trends. It is driven by improving lifestyle, urbanisation, growth of e-commerce and increasing focus on health. According to data and analytics company GlobalData, the Asia-Pacific (APAC) sportswear market is projected to grow at a compound annual growth rate (CAGR) of 9.4% from $189.8 billion in 2020 to $297.8 billion in 2025, outpacing global growth. With this growing demand for athleisure in everyday fashion and on the back of a strong expansion plan in untapped markets, VS by Sehwag is aiming to become a Rs 100 crore brand in 3 years. Sharing his focus areas for H2-2021, Sehwag said, “We are looking at focusing more on digital marketing. I would also leverage my digital fan following to attract new customers. This year, I would focus on increasing more awareness. And to attract other sports personalities, I would be focusing on offering quality products at a reasonable price. So, in the next 3-5 years, my target is to reach at least 5 million customer base and achieve Rs 100 crores in revenue through Omni-channel retail, over the next 3 years. Considering the kind of fan following I have, I feel this target is achievable.”

Virender Sehwag’s athleisure brand, VS by Sehwag aims at achieving Rs 100 crores in revenue over the next 3 years; here’s Sehwag’s roadmap for FY22

<ul><li><keyword id="11645539" type="UNKNOWN" weightage="20" keywordseo="laqshya-event-capital">Laqshya Event Capital</keyword> has launched a division that will work on creating original content around its event IPs.</li><li>‘Event Originals’ will be mainly created for <keyword id="1245953" type="ORGANIZATION" weightage="20" keywordseo="OTT">OTT</keyword>, digital, film and other mainstream platforms.</li><li>Along with the content vertical, Laqshya Event Capital’s IP’s will also introduce interactive digital extensions, gamified options and other experiential digital formats for its popular IPs.</li></ul>Laqshya Event Capital (LEC) has announced its expansion with the introduction of a new business vertical called ‘Event Originals’. This vertical will see creation of original fiction and non-fiction content connected to IPs owned by LEC. This move has made the company the first mover in the space of event IPs to produce original content on a solid scale. ‘Event Originals’ will be mainly created for OTT, digital, film and other mainstream platforms. Laqshya Event Capital has joined hands with Mango People Media, a production house with a series of successful web series and producer of Taapsee Pannu’s next feature film, Rashmi Rocket. This collaboration will co-create content slates across different genres for Event Originals. An ambitious and soon to be launched IP that will cater to the southern Indian music community will also be produced as a non-fiction format series. Covering music-rich landscapes of southern India, the series will feature famous celebrity mentors and rising singing talent across Tamil, Telugu, Malayalam, and Kannada languages. Leading the company onto this brave new path is Laqshya Event Capital’s newly appointed CEO <keyword id="11645537" type="UNKNOWN" weightage="20" keywordseo="shyam-chhabria">Shyam Chhabria</keyword>, previously the COO and Head of Branded Content at the company. Shyam has previously made his mark with iconic IPs and spearheaded content models and formats across brands including Vh1 Supersonic, VIU India, <keyword id="510158" type="COMPANY" weightage="20" keywordseo="Viacom18-Media-Pvt-Ltd">Viacom18 Media Pvt Ltd</keyword>, <keyword id="462698" type="ORGANIZATION" weightage="20" keywordseo="Times-Television-Network">Times Television Network</keyword>, Balaji Telefilms &amp; NDTV Media. Speaking about the vision of expansion, Shyam Chhabria, CEO, Laqshya Event Capital said, “This move is in line with our vision to build well-rounded, 360 degree IPs. We want to build innovative and high converting content that audiences can relate to and brands can associate with. We aim to deliver customised and personalized customer experiences that are united whether offline or online. With this expansion in content, our goal is to create offerings for a wide spectrum of audiences, which will help us solidify our existing communities and play a role in developing new communities.” Elaborating on the expansion, Deepak Choudhary, Founder and Director, Laqshya Event Capital said, “We are celebrating eight years of being in the event industry and what better way to mark this milestone than to introduce new verticals. In the past eight years, we have had major success with our on-ground events and when the pandemic hit, we were able to seamlessly transition to virtual events. Today, we are confident to step into the world of digital content and hope to conquer this space with our original and innovative, IP led content creations. We’re also thrilled to have an ace brand strategist like Shyam leading Event Capital as CEO on this new path. He has led major innovations across events and content and is sure to add immense value to our new avatar” Along with the content vertical, Laqshya Event Capital’s IP’s will also introduce interactive digital extensions, gamified options and other experiential digital formats for its popular IPs. Since its inception in July 2013, LEC has successfully managed large format live event IPs across verticals such as music, education, fashion and lifestyle catering to experiences curated for different demographics, including kids and millennials. As more and more people look for stay-at-home entertainment, LEC is now gearing up to enthral audiences with its original mainstream show IPs.

Laqshya Event Capital introduces new vertical to create original fiction and non-fiction content connected to its IPs

As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani Group, are on the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The <keyword id="17234676" type="General" weightage="50" keywordseo="resolution-professional-of-future-retail-ltd" source="Orion">Resolution Professional of Future Retail Ltd</keyword> (<keyword id="658389" type="General" weightage="80" keywordseo="frl" source="Orion">FRL</keyword>), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters. Some of the other players who had submitted EoIs include <keyword id="17234674" type="General" weightage="50" keywordseo="whsmith-travel-ltd" source="Orion">WHSmith Travel Ltd</keyword>, Sahara Enterprises, Century Copper Corp, Greentech worldwide, <keyword id="1726468" type="General" weightage="50" keywordseo="harsha-vardhan-reddy" source="Orion">Harsha Vardhan Reddy</keyword>, J C Flowers Asset Reconstruction Pvt Ltd, Pinnacle Air Pvt Ltd and <keyword id="17234675" type="General" weightage="50" keywordseo="universal-associates" source="Orion">Universal Associates</keyword>. Except for Bommidala Enterprises, an Andhra Pradesh-based manufacturer of tobacco products, all companies have been included in the final list. Bommidala Enterprises indicated that it will not be submitting a resolution plan. Earlier this month, the Mumbai-based NCLT bench granted FRL an extension of 90 days till July 15, 2023, for concluding the Corporate Insolvency Resolution Process (CIRP). On March 23, 2023, creditors of FRL invited new EoIs whereby prospective buyers can bid for the debt-ridden firm "as a going concern or individual cluster or a combination of clusters of its assets", as it failed to attract a resolution plan in more than four months. Earlier, it had received EoIs and finalised 11 prospective bidders, including Reliance and <keyword id="15486694" type="General" weightage="50" keywordseo="april-moon-retail" source="Orion">April Moon Retail</keyword>, but could not get a resolution plan despite two extensions in the deadline for submissions. The Committee of Creditors had provided two options in the EoI, for which the last date for submission was April 7, 2023. In the first option, the Prospective Resolution Applicant (PRA) could bid for the acquisition of FRL as a whole, including its shareholding interest in the subsidiaries. Under the second option, FRL's business has been distributed into five clusters and PRAs can bid for "any individual cluster or any combination of clusters". "Having regard to the complexity and scale of operations of FRL, the resolution professional has, in consultation with and prior approval of the <keyword id="230701" type="General" weightage="50" keywordseo="coc" source="Orion">CoC</keyword> of FRL, categorised the business of the corporate debtor in five clusters," as per the new EoI. CIRP was initiated against FRL by its lender Bank of India following loan defaults. Under the Insolvency &amp; Bankruptcy Code, EoI was invited from prospective bidders on October 4, 2022. FRL operated multiple retail formats in both the hypermarket supermarket and home segments under brands such as Big Bazaar, Easyday, and Foodhall. At its peak, FRL was operating more than 1,500 outlets in nearly 430 cities. It was part of the 19 Future group companies operating in the retail, wholesale, logistic and warehousing segments, which were supposed to be transferred to Reliance Retail as part of a Rs 24,713 crore deal announced in August 2020. However, lenders had rejected the takeover of the 19 Future group companies, including FRL, by Reliance amid a legal challenge by Amazon. Last year in August, stock market regulator Sebi ordered a forensic audit of the accounts of FRL for the financial years 2019-20, 2020-21 and 2021-22. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/vedanta-resources-cuts-gross-debt-by-usd-1-billion/articleshow/99731225.cms">Vedanta Resources cuts gross debt by USD 1 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/five-popular-investments-under-80c-in-2023-24/articleshow/99732870.cms">5 popular deductions you can claim under Section 80C in 2023-24</a>

Future Retail insolvency process: 48 cos selected as eligible prospective bidders

The Comptroller and Auditor General (CAG) has pointed out that many renowned <keyword id="143" type="UNKNOWN" weightage="100" keywordseo="Bollywood">Bollywood</keyword> actors haven’t complied with service tax norms when receiving payments from producers. The list of actors include <keyword id="6354583" type="UNKNOWN" weightage="20" keywordseo="Salman-Khan">Salman Khan</keyword>, <keyword id="6357861" type="UNKNOWN" weightage="20" keywordseo="Ranbir-Kapoor">Ranbir Kapoor</keyword>, Ajay Devgn, Riteish Deshmukh and <keyword id="2180" type="UNKNOWN" weightage="20" keywordseo="Arjun-Rampal">Arjun Rampal</keyword> and the revenue skipped is more than Rs 50 crore. "During the examination of records of Salman Khan, Arjun <keyword id="2182" type="PERSON" weightage="20" keywordseo="rampal">Rampal</keyword>, Ritesh <keyword id="6359159" type="UNKNOWN" weightage="20" keywordseo="Vilasrao-Deshmukh">Vilasrao Deshmukh</keyword> and Vishal (Ajay) <keyword id="32994" type="PERSON" weightage="20" keywordseo="devgan">Devgan</keyword> in in the Mumbai service tax commissionerates, we observed from the agreements between producer and actors that the producers, being service recipients, agreed to provide for and bear expenses relating to arrangement of the services for travel, lodging and boarding of the make-up artist, hair stylist and spot boy ," the ET learnt from reports. The auditor duly noted that these services fall in the ambit of additional consideration directly and inextricably linked to the services provided by assesses. Non-inclusion of the additional consideration during 2013-14 to 2015-16 resulted in non-payment of service tax by the actors. When this was pointed out to the service tax aut horities, the department said it has issued show cause notice to Deshmukh and notices were being issued in the case of Devgn and Rampal. "Reply in the case of Salman Khan was awaited," CAG observed, according to ET report. In case of actor Ranbir Kapoor, the CAG said, "We noticed two instances where for the same film shot in India and abroad, the payment to artist for the portion shot abroad was arranged from foreign companies, thereby the service was made to look as export of service with no tax liability." "Ranbir Kapoor acted in the movie ' Ae Dil Hai Mushkil' produced by <keyword id="4854211" type="ORGANIZATION" weightage="20" keywordseo="dharma-productions-pvt-ltd">Dharma Productions Pvt Ltd</keyword>, shot both in India and New York. He received a consideration of Rs 6.75 crore from a foreign company , ADHM Films Ltd., (UK) based in London for film shot in UK and did not pay service tax of Rs 83.43 lakh treating the same as export of services," the auditor pointed out.

These Bollywood stars didn't pay service tax amounting to revenue loss of Rs 50 crore

<ul><li><keyword id="10367993" type="COMPANY" weightage="20" keywordseo="studio-bodhi">Studio Bodhi</keyword> has strengthened its <keyword id="10367994" type="UNKNOWN" weightage="20" keywordseo="regional-content-slate">regional content slate</keyword>. </li><li>It has announced 10 originals across Tamil, Bengali and Marathi in 2021.</li></ul>With radical changes in the last couple of years, the digital landscape has diversified and evolved briskly, thus widening the scope for content players in the OTT space to experiment. The acceleration in the rate of content adoption and growing demand for content in native languages, has led to an increase in the appetite for <keyword id="6157640" type="UNKNOWN" weightage="20" keywordseo="regional-content">regional content</keyword> consumption. With an aim to capture this increasing potential and strengthen their position in the regional space, the promoters of Bodhi Tree Multimedia with the backing of <keyword id="10367991" type="COMPANY" weightage="20" keywordseo="sumukha-capital">Sumukha Capital</keyword> have announced the launch of Studio Bodhi, a joint venture under the aegis of <keyword id="10367990" type="COMPANY" weightage="20" keywordseo="sumukha-bodhitree-pvt-ltd-">Sumukha Bodhitree Pvt. Ltd.</keyword> to cater to the ever-growing need for content across the country. The combined forces will develop exclusive original IPs to meet the growing demand of qualitative entertainment. In view of unlocking the next wave of regional growth with high-scale content, the studio will produce unique content in multiple languages across genres for the burgeoning OTT market. With eminent writers and directors on board, Studio Bodhi has 10 projects at different stages of production and will continue to work on numerous IPs in the near future. The studio is currently working towards producing a rich slew of original offerings in languages such as Tamil, Bengali and Marathi in 2021 and further expanding into Telugu, Punjabi and Malayalam by 2022. Speaking on the launch of Studio Bodhi, Mautik Tolia, Managing Director, Bodhi Tree Multimedia, said, “Content today is region agnostic with good rooted stories transcending all barriers and can travel across the world. This content studio will prove to be a game changer in this space. Content consumption has witnessed an upsurge across all genres with regional content gaining momentum. Recognizing this growing demand in regional content, Studio Bodhi is our earnest endeavor to further widen our horizon to build a vast range of successful digital series to cater to every audience palate. Studio Bodhi will mark our foray into the regional OTT space starting with exciting shows across various regional languages like Marathi, Bengali, Tamil, Telugu and further expand to other regions in the coming year. Over the past few months, with projects at various stages of development, we have diligently worked towards acquiring best of talents to put together a team together which we believe will deliver compelling content. With our new venture, we are looking forward to explore different genres and narrative styles.” Commenting on Studio Bodhi, Santosh Kanodia, Founder, Sumukha Capital, a division of <keyword id="10367992" type="COMPANY" weightage="20" keywordseo="sumukha-group">Sumukha Group</keyword> said, “We are committed to investing ₹200 Crores in the entertainment industry ventures in the coming years. We recognize the need gap for regional content that is produced at top notch quality standards and feel this has the potential for exponential growth. The lineup is extremely exciting and the ambition is to move to producing a slate of 10 originals every year.” With projects greenlit in multiple languages, Studio Bodhi aims to nurture the ecosystem with content that is relevant for regional consumers and make regional content mainstream.

Studio Bodhi is India's first OTT focused regional content studio

<ul><li>On the basis of strong advance bookings, Elara Capital expects a strong opening with earnings of ₹20-22 crore over the weekend.</li><li>The science-fiction movie has been made at a massive budget of ₹410 crore.</li><li>Over the last few months, multiplexes like PVR and Inox have lost 30-35% of their advertisement business after the dismal performance of the latest Bollywood movies.</li></ul>With two days to go for its release, the mega budget movie <keyword id="7397576" type="General" weightage="20" keywordseo="Brahmstra" source="Orion">Brahmāstra</keyword> is off to a flying start, say business analysts. PVR has said that over one lakh tickets have been pre-booked for the coming weekend. “Finally, some relief for the industry. received #Brahmāstra *day-wise data* (advance booking) of a leading multiplex chain. Observations say that tickets sold are at 11,558 which is a very positive start, since advance opened at select locations only,” <a href="https://twitter.com/taran_adarsh/status/1565973786368675841?t=OJ1okV-x7JlFgPVi5qq65g&amp;s=19">tweeted business analyst </a>Taran Adarsh. On the basis of strong advance bookings, Elara Capital expects a strong opening with earnings of ₹20-22 crore over the weekend. “The lifetime box office (collection) for the film is estimated to be in a wide range of ₹130-200 crore, basis the strong advances,” says a media note by the brokerage firm. However, the science fiction movie as it’s being called, has been made over a massive budget of ₹410 crore and even if the upper end is breached it will earn only half of what was spent on its making. The movie is bankrolled by Karan Johar owned Dharma Productions along with Starlight Pictures, Prime Focus and Star Studios. The movie stars Ranbir Kapoor and Alia Bhatt and is the first of the franchise of three movies. “Brahmastra is the first sci-fi based Hindi franchise, and augurs well, as audiences want to watch large scale content in cinemas with visual effects. The film has seen strong acceptance/advances in the premium format screens (Imax, 3D etc), given the nature of content,” said Karan Taurani of Elara Capital. Word-of-mouth publicity But even for the movie to earn ₹200 crore, it would need a lot of good reviews that would bring the audience to the theatres. “We believe a positive word of mouth and audience acceptance can help the film breach the upper end. It will be tough to provide any concrete estimates unless we get to know reviews, as most recent estimates have been revised downwards post reviews. Hope it’s the other way round (positive side) for Brahmāstra as it’s a very large franchise movie and Hindi Box Office desperately needs a hit movie,” says Taurani. However, if the movie turns out to be a hit, it could rake in the moolah for theatre owners who have been hurt by the dismal performance of the much-hyped recent film releases – <keyword id="4632769" type="General" weightage="20" keywordseo="Liger" source="Orion">Liger</keyword> and <keyword id="14924108" type="General" weightage="20" keywordseo="Lal-Singh-Chaddha-" source="Orion">Lal Singh Chaddha.</keyword> “A film like Brahmāstra can provide support (to) ticket prices and spend-per-head growth too, as the film is available in multiple premium formats – average ticket price and spend per head have been 15-25% higher than pre-Covid levels until last quarter for multiplex chains,” said Taurani. The movie will be released in 3D, IMAX 3D and 4DX 3D formats across theatres, this Friday. Moreover, since it’s dubbed in multiple languages, it can bring in 15-20% of the business from regional markets too. Over the last few months, multiplexes like PVR and Inox have lost 30-35% of their advertisement business after the dismal performance of the latest movies. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/retailtech-startup-daalchini-raises-4-million/articleshow/94045971.cms">Retail-tech startup Daalchini raises $4 million in a round led by Unicorn India Ventures</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-paynearby-partner-to-take-banking-to-rural-and-remote-areas/articleshow/94050937.cms">Axis Bank, PayNearby partner to take banking to rural and remote areas</a>

Brahmāstra hits the advance booking bulls eye but needs word of mouth publicity

New Delhi, Mar 25 () India's oil production fell 6.4 per cent in February as a decline in output from fields operated by private firms negated a rise in production from ONGC fields. Crude oil production at 2.39 million tonnes in February was 6.41 per cent lower than 2.56 million tonnes output in the same month a year back, according to official data released by the oil ministry here. State-owned Oil and Natural Gas Corp (ONGC) reported a 4.64 per cent rise in production at 1.67 million tonnes as output from its offshore fields saw a pick-up. However, fields operated by the private sector firms reported a 32.6 per cent drop with those in Rajasthan seeing a sharp 32.3 per cent lower production. Rajasthan fields operated by Vedanta Ltd was lower because of "shutdown during February 5 to 29, for major plant maintenance activities," the ministry said. Crude oil production by Oil India Ltd (OIL) in February was 13.13 per cent lower at 240,260 tonnes. Natural gas production dipped almost 9 per cent to 2.2 billion cubic meters as ONGC logged over 4 per cent lower output on the back of a drop in output from eastern offshore fields. The ministry said ONGC's lower gas output was due to "less gas production from Vasistha/S1 wells in eastern offshore due to sand incursion issues." Also, output was less than planned from Bassein field and Daman Tapti block. India's nearly two dozen refineries produced 7.38 per cent more petroleum products at 21.82 million tonnes on back of higher output from Reliance Industries' twin refineries at Jamnagar in Gujarat. During April-February, oil production was almost 6 per cent lower at 29.4 million tonnes. ONGC reported a 2.2 per cent lower output at 18.8 million tonnes. Gas production in the first 11 months of current fiscal was 4.2 per cent lower at 28.7 bcm. Refinery throughput in April-February was almost flat at 240 million tonnes. ANZ DRR

India's oil production in Feb dips 6.4 pc on lower pvt sector output

<keyword id="6420486" type="General" weightage="100" keywordseo="ndtv" source="Orion">NDTV</keyword>'s share price rose 5 per cent, hitting the upper circuit in opening trade on Wednesday, a day after the <keyword id="76451" type="General" weightage="80" keywordseo="adani" source="Orion">Adani</keyword> group launched a hostile bid to take over the media house. The stock climbed 5 per cent to Rs 384.50 -- its upper circuit limit as well as 52-week high -- on the <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> after beginning the trade on a positive note. The company's market capitalisation climbed Rs 117.99 crore to Rs 2,478.92 crore on the BSE. On the NSE, it jumped 4.99 per cent to Rs 388.20 -- its upper circuit limit as also the one-year peak. After declining in opening trade, the 30-share benchmark <keyword id="6484188" type="General" weightage="50" keywordseo="sensex" source="Orion">Sensex</keyword> was trading 87 points higher at 59,118.24 points in late morning trade. In a move that has significant ramifications for the media landscape, billionaire <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword> on Tuesday launched a hostile bid to take over NDTV, first with an indirect acquisition of 29.18 per cent stake in the broadcaster followed by an offer to buy out a further 26 per cent controlling stake. On Tuesday, the owners of <keyword id="201523" type="General" weightage="50" keywordseo="new-delhi-television-ltd" source="Orion">New Delhi Television Ltd</keyword> (NDTV), a popular news channel, said they were completely unaware of the takeover until Tuesday, and that it was done without their consent or any discussion. Three Adani group firms - Vishvapradhan Commercial Pvt Ltd (VCPL) along with AMG Media Networks and Adani Enterprises Ltd - have come out with a public announcement for the offer under the Sebi norms. The open offer to acquire an additional 26 per cent or 1.67 crore equity shares in NDTV is worth nearly Rs 493 crore. The offer price is Rs 294 per share, 19.71 per cent lower than the closing price on Tuesday. NDTV's share price, which has risen more than 300 per cent so far this year, closed at Rs 366.20 apiece on BSE on Tuesday. If the open offer is successful, the Adani group will have more than 55 per cent stake in NDTV. As the Adani group looks to boost media investments as part of an ambitious expansion plan, a group firm first acquired a company that in the past was linked to rival billionaire <keyword id="3820" type="General" weightage="50" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>. The particular company had loaned Rs 250 crore to NDTV in 2008-09 and the Adani group firm now exercised the option to convert that debt into 29.18 per cent stake in the news channel company. Subsequently, it has launched an open offer for another 26 per cent stake, the group said in a statement on Tuesday. "AMVL's wholly-owned subsidiary VCPL holds warrants of RRPR Holding Pvt Ltd (RRPR) entitling it to convert them into a 99.9 per cent stake in RRPR. VCPL has exercised warrants to acquire 99.5 per cent in RRPR," it said. Such acquisition will result in VCPL acquiring control of RRPR. "RRPR is a promoter group company of NDTV and holds a 29.18 per cent stake in NDTV," the statement said. On Tuesday, NDTV said the exercise of the right by VCPL was executed without any input of the company or its founders. In an internal communication to its employees on Tuesday, NDTV said, "the developments of today are entirely unexpected for NDTV, and for Radhika and Prannoy". "We are in the process of evaluating the next steps, many of which involve regulatory and legal processes," it added. The bid for NDTV will be the Adani group's most high-profile bet in the media sector where Ambani already has a sizeable presence through Network18, which runs a bouquet of channels, including news channel CNN-News18 and business channel CNBC-TV18. Last year, Adani Media Ventures Ltd (AMVL), the media arm under the group's flagship Adani Enterprises Ltd, had acquired the digital business news platform Quintillion Business Media Pvt Ltd (QBM). NDTV had a revenue of Rs 421 crore with an EBITDA of Rs 123 crore and a net profit of Rs 85 crore in FY22, with negligible debt. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/top-five-gmail-features-to-get-more-productive/slidelist/93746021.cms">Top five Gmail features to get more productive</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/policy/economy/news/this-financial-metric-explains-how-the-indian-economy-will-take-some-time-before-it-is-back-on-track/articleshow/93746079.cms">This financial metric explains how the Indian economy will take some time before it is back on track</a>

NDTV stock hits upper circuit on Adani group takeover bid

Sanjay Gupta, <keyword id="2853478" type="POSITION" weightage="20" keywordseo="Sr-General-Manager">Sr. General Manager</keyword> and Group <keyword id="6411847" type="POSITION" weightage="20" keywordseo="head">Head</keyword>, Marketing, <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword> Motor India Ltd, has moved on from the company. Multiple sources close to the development has confirmed the news to Ad Age India. 
 Gupta has now joined a Gurgaon-based <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> firm <keyword id="626993" type="COMPANY" weightage="20" keywordseo="M3M-India">M3M India</keyword> as the <keyword id="113363" type="POSITION" weightage="20" keywordseo="Chief-Marketing-Officer">Chief Marketing Officer</keyword>. He had joined Hyundai in April 2014. Prior to this, he was associated with <keyword id="106888" type="CITY" weightage="20" keywordseo="Toyota-Kirloskar-Motors">Toyota Kirloskar Motors</keyword> as GM, Marketing from 2008 to 2014. 
 Gupta has been in the auto industry for more than two decades and served various marketing roles. Prior to Toyota Kirloskar, he was associated with <keyword id="1774706" type="COMPANY" weightage="20" keywordseo="Honda-Motorcycle-Scooter-India-Pvt-Ltd">Honda Motorcycle &amp; Scooter India Pvt Ltd</keyword>, <keyword id="2853477" type="UNKNOWN" weightage="20" keywordseo="Shriram-Automotive-Products-Ltd">Shriram Automotive Products Ltd</keyword>, <keyword id="2853476" type="UNKNOWN" weightage="20" keywordseo="GE-Motors-India-Ltd">GE Motors India Ltd</keyword>, to name a few.

Hyundai India’s Group Marketing Head Sanjay Gupta Quits

<keyword id="6494266" type="General" weightage="20" keywordseo="Imagine-Marketing" source="Orion">Imagine Marketing</keyword> – the parent company of earwear brand <keyword id="53189" type="General" weightage="20" keywordseo="boAt" source="Orion">boAt</keyword> and electronics manufacturing firm <keyword id="753025" type="General" weightage="100" keywordseo="dixon-technologies" source="Orion">Dixon Technologies</keyword> – on Tuesday announced a 50:50 joint venture to manufacture wireless audio products. Both the companies will come together to co-invest in the evolving Indian mobile accessory market, thereby paving the way towards 'Make in India' in this category. "Ramping up domestic production will significantly help in enhancing India's share in the global markets contributing to the vision of an Aatmanirbhar Bharat. It will also give an impetus to build in- house design capabilities and to develop lifestyle-oriented products to delight our 'boAtheads'," Sameer Mehta, Co-founder and Chief Product Officer, Imagine Marketing Pvt. Ltd, said in a statement. The joint venture is an important milestone in boAt's journey to establish a manufacturing base in India. The association will enable the companies to meet the evolving needs of customers by delivering high-quality and aspirational lifestyle-focused hearable solutions, backed by quality manufacturing and robust R&amp;D. "Through our partnership, we aim to provide boAt with a faster ability to scale up manufacturing in India with our low-cost structure, high quality and superior execution track record. We strive to develop innovative products with boAt for not only the discerning Indian consumers but also for global markets," Atul B. Lall, Vice Chairman and Managing Director, Dixon Technologies Limited, added. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/sony-wf-1000xm4-tws-earbuds-review/articleshow/88898120.cms">Sony WF-1000XM4 review — The finest of all truly wireless earbuds</a>

You Searched For "dharma productions pvt ltd" and got 14 results

Kartik Aaryan to headline Karan Johar's next film production

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Anushka Sharma gets no relief from Bombay HC on pleas against sales tax demand

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Defence ministry allocates Rs 300 cr for technology development fund to promote Make in India products

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Maruti Suzuki to discontinue petrol-powered cars in 10 years

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Virender Sehwag’s athleisure brand, VS by Sehwag aims at achieving Rs 100 crores in revenue over the next 3 years; here’s Sehwag’s roadmap for FY22

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Laqshya Event Capital introduces new vertical to create original fiction and non-fiction content connected to its IPs

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Future Retail insolvency process: 48 cos selected as eligible prospective bidders

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These Bollywood stars didn't pay service tax amounting to revenue loss of Rs 50 crore

BI India Bureau

Studio Bodhi is India's first OTT focused regional content studio

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Brahmāstra hits the advance booking bulls eye but needs word of mouth publicity

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India's oil production in Feb dips 6.4 pc on lower pvt sector output

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NDTV stock hits upper circuit on Adani group takeover bid

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Hyundai India’s Group Marketing Head Sanjay Gupta Quits

AdAge

boAt and Dixon Technologies form joint venture to manufacture wireless products in India

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