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The Enforcement Directorate (ED) after conducting raids at multiple locations belonging to <keyword id="714947" type="General" weightage="50" keywordseo="payment-gateways" source="Orion">payment gateways</keyword> i.e <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> and PayU in connection with a case of Chinese Loan apps, asked Paytm to freeze certain amounts from a few Merchant IDs (MIDs). Sources said the raids were conducted in Mumbai, Delhi, Gurugram, Lucknow and <keyword id="6354925" type="General" weightage="50" keywordseo="kolkata" source="Orion">Kolkata</keyword>. The ED has not given any official comment on the matter. On September 3, raids were conducted at the premises belonging to online payments gateways including <keyword id="14887233" type="General" weightage="50" keywordseo="razorpay-pvt-ltd" source="Orion">Razorpay Pvt Ltd</keyword>, Cashfree Payments and <keyword id="14887232" type="General" weightage="50" keywordseo="paytm-payment-services-ltd" source="Orion">Paytm Payment Services Ltd</keyword>. A Paytm spokesperson said that as part of the ongoing investigations of a specific set of merchants, the ED has sought information regarding such merchants to whom we provide payment processing solutions. "These merchants are independent entities, and none of them are our group entities. We are, and will continue to, fully cooperate with the authorities, and all the directive actions are being duly complied with," said the Paytm spokesperson. The ED has instructed Paytm to freeze certain amounts from the Merchant IDs of a specific set of merchant entities (as mentioned by the ED in its press release). "None of the funds which have been instructed to be frozen belong to Paytm or any of our group companies. As we have mentioned before, ED continues to seek information about certain merchants from various payment service providers, and we have shared the required information," the Paytm spokesperson said. What is the case? The case is based on 18 FIRs registered by the Cyber Crime Police Station, Bengaluru City, against numerous persons for their involvement in extortion and harassment of the public who had availed small loans through the mobile apps being run by those entities. "During enquiries, it had emerged that these entities are operated by Chinese persons. The modus operandi of these entities is that by using forged documents of Indians and making them dummy directors of those entities, they are generating proceeds of crime," the ED said. The ED had said that it has come to its notice that the entities were conducting their suspected business through various Merchant IDs/Accounts held with Payment Gateways/banks. The premises of Razorpay Pvt Ltd, Cashfree Payments, Paytm Payment Services Ltd and entities controlled/operated by Chinese persons were covered in the search operations. "During the search operations, it was noticed that the said entities were generating proceeds of crime through various Merchant IDs/Accounts held with Payment Gateways/banks and they are also not operating from the addresses given on the <keyword id="6355225" type="General" weightage="50" keywordseo="mca" source="Orion">MCA</keyword> website/registered address and having fake addresses. An amount of Rs 17 crore has been seized in merchant IDs and bank accounts of these Chinese persons-controlled entities," the ED official had said. Meanwhile, a Razorpay spokesperson had said "Some of our merchants were being investigated by law enforcement about a year and a half back. As part of the ongoing investigation, the authorities requested additional information to help with the investigation. We have fully cooperated and shared <keyword id="167905" type="General" weightage="50" keywordseo="kyc" source="Orion">KYC</keyword> and other details. The authorities were satisfied by our due diligence process." The search operations are in progress. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/weight-gain-during-the-pandemic-is-increasing-the-incidence-of-pcos-in-women/articleshow/94202794.cms">Weight gain during the pandemic is increasing the incidence of PCOS in women</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-top-75-brands-are-worth-393-billion-thats-11-of-indias-gdp/articleshow/94203813.cms">TCS is India's most valuable brand worth $45.5 billion: Kantar</a>

ED asks Paytm to freeze certain amounts from few merchant IDs after raids (Ld)

Buildings are not just passive sub-units of our cities—mere places to dwell in or seek protection from the elements. They are spaces where we live, work, produce, and transact; they are living parts of the larger universe. Hence, when we talk about smart infrastructure, transport, healthcare, education or governance, smart buildings cannot be far behind. Yet, the building sector has remained largely unaffected by the advances in technology that have transformed nearly every aspect of our lives. Smart buildings are structures that intelligently integrate different technologies to optimize energy efficiency and security for inhabitants. In recent years, building owners are paying attention but buildings are still associated with ‘premium’ real estate projects. However, far from being a luxury for a privileged few, smart buildings can be an obvious and natural solution to the challenges faced by our crowded cities, where rampant construction is putting a strain on power and water delivery systems, and giving rise to environmental and public safety concerns. <a href="https://www.businessinsider.in/India-is-set-to-witness-a-housing-boom-worth-1-3-trillion-and-it-would-CHANGE-the-economy-like-never-before/articleshow/58590215.cms" data-type="tilCustomLink" target="_blank">As per CLSA India Pvt. Ltd., India will add 60 million new homes between 2018 and 2024. </a> Commercial real estate projects are also expected to grow robustly soon. While this speaks volumes about India’s economic growth, there is a flip side as well. Buildings are ravenous consumers of resources. Globally, buildings consume an estimated 42% of all generated electricity, with the lion’s share going to residential buildings. In India, the relevant figure is around 30%, but this is rapidly rising, says a report by The <keyword id="401803" type="ORGANIZATION" weightage="20" keywordseo="Energy-and-Resources-Institute">Energy and Resources Institute</keyword> (<keyword id="6366057" type="ORGANIZATION" weightage="20" keywordseo="TERI">TERI</keyword>). The report adds that the Indian buildings sector consumes roughly 12% of all fresh water, and generates wastewater of around 22,900 million liters per day. Buildings are also responsible for environmental damage. In the US, for example, residential and commercial buildings account for 39% of CO2 emissions in that country. These emissions are primarily due to the fossil fuels used to generate electricity used in homes and offices. As a fast-developing economy, chances are India isn’t too far behind. As commercial and residential buildings, multiply rapidly in Indian cities, they create additional pressure on power and water supply systems, driving up tariffs for end consumers and increasing carbon footprint. Challenges like these make the case for smart buildings even more compelling. So, let’s look at some of the ways in which smart buildings can help cities defray some of the above costs. 
	
	
	
	
	
	
	
	
	
	<div type="image" title="here-are-some-of-the-technologies-that-are-making-cities-smarter" msid="61778792" hostid="261"></div>



















 Energy consumption Lighting, air-conditioning, and appliances are the main power guzzlers in buildings today. Monitoring them manually is next to impossible, but technology provides some answers. Smart buildings use sensors and the Internet of Things (IoT) technology to gather data on how and where power is being used, and take automatic decisions to optimize those functions: for e.g., by dimming or turning off lights when a room is empty, adjusting the AC’s temperature per the weather outside, or switching to alternate power (e.g. a microgrid or solar grid) to reduce reliance on the main grid. Smart building technology can also be configured to alert residents or management to wastage of electricity or water (for e.g. a TV or water sprinkler) and enable them to turn off the equipment remotely. Aggregated over months and years, these savings can translate into significant benefits for residents and building owners. Efficiency Smart buildings have single-point tools and controls that allow facilities managers to gauge the performance of equipment in the building, and take immediate action to address malfunctions or concerns. This reduces downtime and enhances the efficiency and lifespan of the equipment. Smart buildings can also be equipped with efficiency features like smart parking, which provides real-time data on available parking, eliminating wastage of fuel; and in-house water recycling, which drives down the cost of water usage within the premises. Health &amp; Environment Every <keyword id="188" type="LOCATION" weightage="20" keywordseo="Diwali">Diwali</keyword>, the plunging quality of air in India’s metros leads to widespread public health concerns. Similarly, water-borne illnesses in the monsoon are a regular phenomenon. Seasonal health hazards like these cause significant medical expenditure and result in workplace absenteeism, which can hit productivity and economic activity. However, sensors installed in smart buildings can constantly monitor air or water quality, and send alerts to residents whenever quality is seen to deteriorate, enabling the latter to take preventive action. Smart buildings are also more environmentally-friendly than regular buildings. Since they regulate and optimize devices like air-conditioners, smart buildings typically cause lower emissions of ozone-depleting greenhouse gases. Security and safety One of the biggest advantages of smart buildings is that they are far more secure than conventional buildings, with features like intruder detection, access control, and video surveillance, which make it very difficult for outsiders to infiltrate the premises. Breaches are promptly captured by the system and relayed to the authorities. The smart building’s security software also integrates with the residents’ personal devices, allowing them to remotely monitor their homes on their smartphones, minimizing chances of loss due to theft or robbery. Even as the government emphasizes the need for technological interventions in everything from transportation to payments, the shift towards smart buildings is inevitable. With all their advantages, smart buildings will play a huge role in helping our towns and cities become sustainable, safer, and future-ready. Honeywell is helping create smarter, greener, safer, and more efficient buildings across India with its range of products, software, and technologies that are found in over 150 million homes and 10 million buildings worldwide.To know more please visit <a href="https://www.facebook.com/Honeywell.India/" target="_blank">Honeywell India</a>. (Disclaimer: This piece is Sponsored by Honeywell)

Why smarter buildings are becoming an economic necessity

Travelling around the wonderland that is India is a thrilling experience, especially when fast-moving super <keyword id="168020" type="UNKNOWN" weightage="100" keywordseo="expressways">expressways</keyword> are right here to ensure some wonderful on-the-road vacations. Of course there are business travellers who are in a hurry to reach their destinations and <keyword id="2053038" type="UNKNOWN" weightage="100" keywordseo="Super-fast-expressways">super fast expressways</keyword> minus traffic snarls suit them down to the ground. But then, you can be one of those away on a leisure trip and looking forward to a fast and panoramic drive on your way to a new city. Either way, the expressways of India won’t disappoint you. As we mentioned before, expressways are controlled-access highways like the freeways or motorways or autobahnen in the US and Europe, essentially designed for high-speed traffic. As of now, most of the expressways in India are 6-8 lane toll <keyword id="6358996" type="PERSON" weightage="100" keywordseo="roads">roads</keyword> and cover a total distance of nearly 1,208.19 km. 
 
Last month, we brought you <a href="http://www.businessinsider.in/8-Super-ExpresswaysIn-North-India-That-Fulfil-Your-Need-For-Speed/articleshow/29486214.cms">8 super expressways</a> in North India that fulfil your need for speed. And this time, we move to the West and the North-west of the country where some more picturesque drives await us. However, the <keyword id="52840" type="UNKNOWN" weightage="100" keywordseo="sea-links">sea links</keyword> and the <keyword id="2053055" type="UNKNOWN" weightage="100" keywordseo="Coastal-expressways">coastal expressways</keyword> will come up in our next article. So grab a coffee, get a map and read on. By the time you are through, you could be checking the map and picking out the spots where you want to go first. As the Turkish playwright <keyword id="1981629" type="UNKNOWN" weightage="60" keywordseo="Mehmet-Murat">Mehmet Murat</keyword> ildan has said: Some roads are so beautiful that you know not whether you travel on the road or the road travels in you! 
 
Image: Thinkstock Photos/Getty Images

Open Roads Return: 6 Super
Expressways In West & North-west India

New Delhi, Nov 15 () A day after it posted a staggering Rs 50,921 crore loss for the September quarter, Vodafone Idea on Friday said it believes the government is aware of the "tremendous stress" being faced by telcos and wants a healthy sector with three private and one public operator.
 In a post-earnings investor call, Vodafone Idea CEO Ravinder Takkar said the company has been engaging "very positively" with the government and that its discussions on telecom stress began even before the AGR ruling was pronounced by the Supreme Court.
 "In our engagements...the response of the government has been very consistent. They said they want this sector to be healthy, it is a very strategic sector, too important for the country, too important for Digital India vision...Secondly, they have said to us that they want to see three private players and one public sector player in this sector," Takkar said.
 The company believes the Centre is looking at a "comprehensive solution" for the sector with an aim to restore the industry's health, he said.
 "We hope to hear something from them very soon," he added.
 On a specific question on minimum tariff fixation, Takkar said he did not wish to speculate on how floor price mechanism can be implemented.
 "We know it is in the purview of the regulator and government and it can be implemented...We know it has been done in certain other countries in the region, but I don't want to speculate on what they would implement or how they would implement," he said.
 Vodafone Idea Ltd (VIL) plans to monetise its 11.15 per cent stake in Indus Towers on completion of the Indus Towers-Bharti Infratel merger, and is also exploring options to monetise nearly 160,000 kms of intra-city and inter-city fibre as well as data centre.
 Akshaya Moondra, chief financial officer of VIL, said the company continues to remain engaged with its financial creditors but asserted that there is no acceleration of payment which has happened.
 "From time to time, some banks have requested us if we could pre-pay them any amount...we have declined that. We continue to remain engaged with all our financial creditors but there is no acceleration of payment that has happened," he said.
 On vendor finance, Moondra said the company has strong vendor partners and that "they are already supporting us through vendor financing route".
 Vodafone Idea on Thursday reported a consolidated loss of Rs 50,921 crore -- the highest ever loss posted by any Indian corporate -- for the September quarter on account of liability arising out of the Supreme Court's order in the adjusted gross revenue (AGR) case.
 The Supreme Court, last month, ruled in favour of the government and directed telecom companies, including Vodafone Idea, to pay dues as demanded by the Department of Telecom.
 Vodafone Idea has said its ability to continue business will depend on relief sought from the government and positive outcome of the legal option it has (filing of a review petition).
 It said the company, through the Cellular Operators Association of India (COAI), has made representations to the government to provide relief to the telecom sector.
 This includes request to not press for the AGR liability payment and grant waivers, not levying spectrum usage charges (SUC) on non-licenced revenue, reduction of licence fee and SUC rates and use of GST credit for payment of government levies.
 The industry body has requested the government to allow payment to be made in installments after some moratorium, and grant a moratorium of two years for the payment of spectrum dues beyond April 1, 2020 up to March 31, 2022. MBI ABM

Believe govt is aware of telcos' stress; wants to see 3 pvt, 1 public sector player: Voda Idea CEO

<ul><li> As part of the merger, <keyword id="3660661" type="General" weightage="80" keywordseo="clix-capital" source="Orion">Clix Capital</keyword> Services will also need to take on Suryoday <keyword id="6382595" type="General" weightage="20" keywordseo="small-finance-bank" source="Orion">Small Finance Bank</keyword>’s gross bad loans worth ₹381 crore. That's nearly a quarter of Clix Capital’s own net worth.</li><li>Both the entities are into completely different lines of business. <keyword id="9295768" type="General" weightage="20" keywordseo="Suryoday-SFB" source="Orion">Suryoday SFB</keyword> is essentially a micro-lender, while Clix Capital is a non-banking financial company that is into MSME and consumer lending.</li><li>Besides Clix Capital getting an indirect banking licence, the deal would help Suryoday SFB diversify its loan book and strengthen its digital presence.</li></ul>AION Capital-backed Clix Capital Services Pvt. Ltd., a non-bank lender, has been out in the market to acquire a banking licence since last year. After a failed attempt to acquire distressed Lakshmi Vilas Bank in November last year, it has now set its eyes on another bank ⁠— Suryoday <keyword id="3896843" type="General" weightage="20" keywordseo="small-finance-bank-ltd" source="Orion">Small Finance Bank Ltd</keyword>. The proposed merger, according to a source directly aware of the development who spoke on condition of anonymity, is in advanced stages, with Centrum Capital acting as an advisor to the deal. The development was first <a href="https://www.business-standard.com/article/companies/clix-capital-suryoday-sfb-in-merger-talks-deal-in-advanced-stage-121091300045_1.html">reported</a> by Business Standard on Sep. 13 that said, citing unnamed sources, that both parties were engaged in due diligence for the transaction. Even as the deal would help micro-lender turned banker Suryoday to expand its loan book, the deal comes at a heavy price for Clix Capital. This, as the Gurugam-based non-bank lender will also have to absorb Suryoday’s gross bad loans worth ₹381 crore. That's nearly a quarter of Clix Capital’s own net worth. The cost of the merger, and its own deteriorating asset quality due to the pandemic, will be over and above that. But experts are divided on the benefits of the merger. “There are no visible synergies between Suryoday SFB and Clix Capital, as both have completely different business models,” said <keyword id="12088598" type="General" weightage="20" keywordseo="anand-dama" source="Orion">Anand Dama</keyword>, research analyst at brokerage firm Emkay Global Securities. “The only plausible explanation for the deal is that it would help Clix Capital indirectly acquire a banking license, while Suryoday will be able to diversify its lending portfolio. But a regulatory approval for the deal could be an arduous task,” he said. There are others who believe Clix Capital will benefit from both cheaper capital, thanks to the banking licence, and new set of borrowers. After the deal was reported, Suryoday SFB’s stock jumped almost 20% to close at Rs 179.40 apiece on the BSE on Monday. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/7252296"></div>]]></cdata></div> <cmsannotation type="cmsannotation" annotationid="What’s On The Table?" comment="subhead" text="What’s On The Table?">What’s On The Table?</cmsannotation> Suryoday SFB is essentially a micro-lender with close to 68% of its loan book worth ₹4,004 crore dedicated to providing micro-loans to women in urban and semi-urban areas, under the joint liability group model. Clix Capital, on the other hand, is mainly into small business and consumer lending that form 82% of its loan book worth ₹4,249 crore. The proposed merger, said Siji Philip, senior research analyst at Axis Securities, may mean a riskier loan book with possible pressure on asset quality metrics, which would need to be resolved over time. “If a deal fructifies, it would also mean that the combined loan book of Suryoday and Clix Capital could face asset quality headwinds and more clarity is awaited on this front. Besides, the merger will create a loan book comprising microfinance from Suryoday, and MSME (micro, small and medium enterprises) and consumer finance from Clix, which have been some of the heavily impacted segments during the pandemic,” she said. As of June 30, Suryoday reported gross non-performing assets at 9.5% of its total advances, while it wrote-off loans worth nearly Rs 79 crore. Its GNPA in the quarter ended March, too, was largely the same at 9.4%. “Delinquency in the portfolio increased due to the impact of the second Covid wave. Collections were difficult in the majority of the places across the country in April and May which led to increased PAR (portfolio-at-risk),” said <keyword id="11017591" type="General" weightage="20" keywordseo="baskar-babu-ramachandran" source="Orion">Baskar Babu Ramachandran</keyword>, managing director and chief executive at the bank during its earnings con-call on Aug. 12. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-table" data-src="visualisation/7252787"></div>]]></cdata></div> Compare that to Clix Capital, which had gross NPA at 3.37% as on March 31, or about Rs 143 crore, as per a June 29 <a href="https://www.careratings.com/upload/CompanyFiles/PR/12072021061939_Clix_Capital_Services_Private_Limited.pdf">note</a> by Care Ratings. The asset quality numbers as on June 30, 2021 were not available in public domain for Clix Capital. <cmsannotation type="cmsannotation" annotationid="The Road Ahead" comment="subhead" text="The Road Ahead">The Road Ahead</cmsannotation> As the contours of the deal get worked out, combining Suryoday and Clix Capital may even help the two entities build a more resilient loan book, said Hemindra Hazari, an independent banking analyst. “Suryoday SFB would need to expand its loan offerings beyond microfinance to build a more resilient loan book, and a deal with Clix Capital would help it do just that,” he said. Besides helping with loan book diversification, the merger would also help Suryoday improve its digital capabilities and lower its operating costs, said Philip. Whereas Clix, said Hazari, will be able to take advantage of lower cost of funds available to a bank. “At a time when non-bank lenders are struggling with liquidity constraints, a merger would go a long way in bringing down the cost of funds,” he said. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-table" data-src="visualisation/7252363"></div>]]></cdata></div> So far, Suryoday, focused on Maharashtra and Tamil Nadu, has expanded its book into commercial vehicles, affordable housing and small business loans. But since a bulk of its business is unsecured micro-loans, its asset quality has remained weak. Clix, however, managed to shrink its stressed corporate loan book to 18% as of fiscal 2021, compared to 27% in fiscal 2020. But despite being more efficient with its lending, the cost of capital has increased to 4.53% of total assets, as against 1.23% in the previous fiscal. The credit costs, Care Ratings said in its July note, inched up mainly due to higher provisioning costs amid the pandemic that affected the businesses of its underlying MSME and retail borrowers. The deal, said Hazari, is borne more out of need than synergy between the two lenders. “Though the Reserve Bank of India has been conservative in granting banking licences to NBFCs, acquiring or merging with a bank has become a convenient backdoor entry for some. For Clix, this is a similar opportunity, even if it means absorbing the bad loans of another bank,” he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/online-pharmacy-startup-pharmeasy-is-looking-to-hire-200-engineers-in-hyderabad-pune-and-delhi-before-the-ipo/articleshow/86168091.cms">Online pharmacy Startup PharmEasy is looking to hire 200 engineers in Hyderabad, Pune and Delhi before the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/how-to-take-screenshots-on-windows-10-8-and-7/articleshow/86168223.cms">How to take screenshots on Windows 10, 8 and 7</a>

Clix Capital's urge to be a bank must be too intense for it to merge with Suryoday

<ul><li>The deal, announced in September last year, has received the <keyword id="139820" type="General" weightage="80" keywordseo="competition-commission" source="Orion">Competition Commission</keyword> of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s nod. </li><li>The deal remains subject to applicable regulatory and other approvals, <keyword id="353090" type="General" weightage="80" keywordseo="zeel" source="Orion">ZEEL</keyword> said.</li><li>The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and <keyword id="6358540" type="General" weightage="100" keywordseo="sony" source="Orion">Sony</keyword> LIV) and two film studios (<keyword id="3415325" type="General" weightage="50" keywordseo="zee-studios" source="Orion">Zee Studios</keyword> and Sony Pictures Films India). </li></ul> The Competition Commission on Tuesday gave its conditional approval to the mega-merger deal between Sony and <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> that will create one of the largest media groups in the country. The deal, announced in September last year, has received the Competition Commission of India's nod after the regulator accepted "voluntary remedies" proposed by the parties, sources close to the development said. In a tweet, the watchdog said it has cleared the deal with certain modifications. CCI said it has approved the "amalgamation of <keyword id="1417408" type="General" weightage="50" keywordseo="zee-entertainment-enterprises-limited" source="Orion">Zee Entertainment Enterprises Limited</keyword> (ZEEL) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (<keyword id="55015" type="General" weightage="80" keywordseo="cme" source="Orion">CME</keyword>), with certain modifications". Details about the proposed modifications could not be immediately ascertained. CCI had issued show cause notices to the parties after it initially concluded that the deal could have an adverse impact on competition, the sources said. Subsequently, the parties proposed voluntary remedies, which have been accepted by the regulator, they added. ZEEL said CCI has granted the approval in phase-1 after evaluating the official legal and economic submissions made by the company. Most of the deals get cleared by CCI in phase-1 and only if there are serious concerns then the deal concerned is put up for public scrutiny under phase 2. "Considering the immense value which the proposed merger will generate for all its stakeholders, the company has offered the necessary remedies in accordance with the regulator's guidelines," ZEEL said, adding that further details are awaited. On September 7, the National Company Law Tribunal (NCLT) had advised the company to convene and conduct the meeting with its shareholders on October 14 to seek their approval for the proposed merger. The deal remains subject to applicable regulatory and other approvals, ZEEL said. In a separate statement, Sony Pictures Networks India said it is delighted to receive CCI approval for the merger. "We will now await remaining regulatory approvals to finally launch the new merged company. The merged company will create extraordinary value for Indian consumers and eventually lead the consumer transition from traditional pay TV into the digital future," it said. Culver Max Entertainment Private Limited was earlier known as Sony Pictures Networks India Pvt Ltd. Deals beyond certain thresholds require the approval of CCI, which keeps a tab on unfair business practices and also promotes fair competition in the marketplace. Both parties had entered into a definitive agreement for the deal in December last year and the proposed merger has already received approval from stock exchanges NSE and BSE. ZEEL, in September 2021, said it has entered into a non-binding term sheet with SPNI to bring together their linear networks, digital assets, production operations and programme libraries. The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and Sony LIV) and two film studios (Zee Studios and Sony Pictures Films India), making it the largest entertainment network in India, ZEEL said in September last year. Under the deal, there will be amalgamation of ZEE and BEPL with CME. Besides, preferential allotment of certain shares will be made by CME to Sunbright International Holdings Limited, earlier known as Essel Holdings Limited, and Sunbright Mauritius Investments Limited, according to a release issued by CCI. CME is an indirect wholly-owned subsidiary of Sony Group Corporation (SGC). CME has several general entertainment channels, film, sports and kids' entertainment channels in India. SonyLIV is CME's digital entertainment video service which provides OTT services in India and international markets. CME reaches out to over 700 million viewers in India and is available in 167 countries. BEPL is an indirect wholly-owned subsidiary of SGC and a part of the SGC Group. It is broadly engaged in the acquisition of rights for motion pictures, events and other TV cont ent; and in generating advertising revenue from the telecast of TV content. ZEE is a media and entertainment company, with presence across the segments of broadcasting, digital content, movies, music and live entertainment, spread over 190 countries, as per the release. ZEE5 is the company's digital entertainment video service which provides OTT services in India and international markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-to-begin-beta-trial-of-5g-in-four-cities-on-dussehra-with-unlimited-data/articleshow/94645577.cms">Reliance Jio to begin beta trial of 5G in four cities on Dussehra with unlimited data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-950-billionaires-asia-outnumbers-all-other-regions-forbes/articleshow/94644883.cms">With 950 billionaires, Asia outnumbers all other regions: Forbes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/15-ott-releases-to-watch-this-festive-season-starring-madhuri-dixit-hasan-minhaj-and-more/articleshow/94640843.cms">15 OTT releases to watch this festive season starring Madhuri Dixit, Hasan Minhaj and more</a>

Competition Commission gives conditional approval to Sony-Zee merger deal

Wellness Forever Medicare Ltd, a leading retail pharmacy and wellness network, has filed draft red herring prospectus (DRHP) with markets watchdog Sebi for an initial share sale. The size of the Initial Public Offering (IPO) of the company, backed by <keyword id="242973" type="General" weightage="20" keywordseo="Serum-Institute" source="Orion">Serum Institute</keyword>'s <keyword id="383467" type="General" weightage="20" keywordseo="adar-poonawalla" source="Orion">Adar Poonawalla</keyword>, is likely to be in the range of ₹1,500-1,600 crore, according to merchant banking sources. Apart from a fresh issue worth up to ₹400 crore, there will be an Offer for Sale (OFS) wherein shares will be offloaded by promoters — Ashraf Mohammed Biran, Gulshan Haresh Bakhtiani and Mohan Ganpat Chavan — and other shareholders. The proceeds from the fresh issue will be utilised for funding capital expenditure for setting up of new stores as well as incremental working capital requirements, repayment/ pre-payment of borrowings and for general corporate purposes, according to the Draft Red Herring Prospectus (DRHP). The OFS will include sale of up to 1.60 crore equity shares. Around 7.20 lakh shares each will be on offer by Biran and Bakhtiani. Besides, Chavan will offload up to 1.20 lakh shares and up to 144.85 lakh shares by other existing shareholders. IIFL Securities, Ambit Pvt Ltd, DAM Capital Advisors Ltd, and HDFC Bank are book running lead managers to the issue. In recent months, there has been a flurry of activities in the IPO market that also coincided with the stock market touching new peaks. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/here-is-a-list-of-ipos-likely-to-open-in-october-2021/slidelist/86693916.cms" data-type="tilCustomLink">From PolicyBazaar to Adani Wilmar -- Here is a list of IPOs likely to open in October</a> <a href="https://www.businessinsider.in/business/startups/news/top-earners-at-ritesh-agarwal-led-oyo-as-per-its-drhp/slidelist/86682750.cms" data-type="tilCustomLink">OYO’s Ritesh Agarwal took home ₹1.6 crore in FY2021 — here are the top earners in the IPO-bound company</a> <a href="https://www.businessinsider.in/politics/world/news/biden-floats-2-trillion-price-tag-social-spending-package-pushing-for-cuts-to-salvage-his-economic-plans/articleshow/86697537.cms" data-type="tilCustomLink">Biden floats $2 trillion price tag social spending package, pushing for cuts to salvage his economic plans</a>

Adar Poonawalla-backed pharmacy chain Wellness Forever files for IPO

<ul><li>Havells celebrates Valentine’s Day with its unique #StopMeriGroomingPeAssuming Campaign.</li><li>With the latest digital campaign, Havells aims to reach out to its audience with key message of stopping assumptions and judgements made basis people’s appearance and grooming.</li></ul> Ahead of Valentine’s Day, <keyword id="116610" type="General" weightage="20" keywordseo="havells-india" source="Orion">Havells India</keyword> Limited, announced its latest digital campaign urging customers to take a stand against public assumptions associated with personal grooming. The campaign titled #StopMeriGroomingPeAssuming, set to continue till 15th February 2022 is live on Havells’ official Facebook, Instagram, and Twitter pages. Conceptualized by the agency <keyword id="7278856" type="General" weightage="20" keywordseo="82-5-Communications" source="Orion">82.5 Communications</keyword> Pvt Ltd., the campaign features <keyword id="2618061" type="General" weightage="100" keywordseo="vicky-kaushal" source="Orion">Vicky Kaushal</keyword> and <keyword id="89958" type="General" weightage="80" keywordseo="shraddha-kapoor" source="Orion">Shraddha Kapoor</keyword> who share their perspective around personal grooming, self-worth and social validation. Kickstarting with a series of digital films on various social channels, the campaign focuses on bringing alive the personality of today’s millennial that are rooted in self-worth and strength of personality rather than social validation. Themed around ‘Personal grooming vs Public Assuming’ the quirky and youthful films featuring Vicky Kaushal and Shraddha Kapoor representing today’s youth who make this point in a light-hearted, quirky and fun manner, with the final sign off ‘#StopMeriGroomingPeAssuming.’ Commenting on the campaign, Ravindra Singh Negi, President- Electrical Consumer Durables, Havells India said, “Today, we live in a world where we often face certain assumptions based on our personal appearance. Through the campaign, we aim to inspire people to change their perspective and thoughts associated with personal grooming and appearance. With youth icons and stars like Vicky Kaushal and Shraddha Kapoor, we want to reach out to the millennial generation and inspire them to create their distinctive style statement and flaunt it to the world against any external validation. Themed around ‘Personal grooming vs Public Assuming’, the campaign urges our audience to take charge of their looks and change the status quo.” The first film of the campaign is live and the brand will launch two films in the coming weeks.

When Vicky Kaushal donned a sari to prove that assumptions shouldn't be based on someone's appearance for Havells' campaign

New Delhi, Jan 14 () French energy giant Total SA's India head Alexis Thelemaque has been appointed as a director on the Board of billionaire Gautam Adani's gas retailing firm Adani Gas Ltd.
The appointment follows Total buying a 37.4 per cent stake in Adani Gas Ltd - the firm that retails gas to automobiles and households for an estimated Rs 5,700 crore.
"The Board of Directors of the company have, by way of circular resolution passed on January 14, 2020, appointed Alexis Thelemaque as an Additional Director (Non-Executive, Non-Independent)," Adani Gas said in a regulatory filing.
Thelemaque, who joined Total Group in France in 1993, is Chairman and Managing Director of Total Oil India Pvt Ltd.
Total, which in August 2018 exited a JV with Royal Dutch Shell in a 5 million tonne liquefied natural gas (LNG) import terminal at Hazira in Gujarat, had in October last year announced the acquisition of the stake in Adani Gas.
This followed by a 50:50 joint venture the two had agreed upon in October 2018 for two LNG import terminals of Adani on the east and west coast of India as well as for setting up of 1,500 petrol pumps in the country over 10 years.
The French firm is the latest energy major seeking to expand its presence in India, which is the world's third-largest and the fastest-growing energy consumer. In August 2019, Reliance Industries said Saudi Arabian Oil Co will buy 20 per cent of its oil-to-chemical business at an enterprise value of USD 75 billion.
As part of the deal, Total will first make an open offer to buy a 25.2 per cent stake in Adani Gas. Depending upon the success in the open offer, it will buy a stake from Adani to take its holding to 37.4 per cent in the company.
Adani family holds a 74.8 per cent stake in Adani Gas and will dilute shares to the public to bring down its holding to 37.4 per cent - at par with Total.
Adani family will sell some stake in the open market to meet the listing norm of keeping public holding at 25 per cent.
Adani Total joint venture (JV), where the two groups hold 50 per cent stake each, is building a 5 million tonne LNG import terminal at Dhamra in Odisha and will potentially hold a 25 to 50 per cent interest in Gujarat government's Mundra import facility.
This JV would also supply 3 million tonnes per annum of LNG to India and Bangladesh.
Adani Gas, wherein Total and Adani would hold 37.4 per cent stake each, is targeting to set up 1,500 CNG stations to retail gas to automobiles and piped cooking gas to 6 million households. It will also set up 1,500 petrol pumps over 10 years.
As part of this partnership, Total will bring its LNG and retail expertise and will supply LNG to Adani Gas. Total and Adani will also establish a joint venture to market LNG in India and Bangladesh. ANZ BAL

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