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Posted On:
14-10-2024

Consumer Protection Authority orders Ola to provide choice to consumers for preferred method of refund

Ola only provided a coupon code which could be used for the next ride without providing a clear choice to the consumer to opt between a bank account refund or a coupon. The Central Consumer Protection Authority observed that to be a violation of consumer rights. The Central Consumer Protection Authority (CCPA) has directed Ola, a leading online ride-hailing platform, to implement a mechanism allowing consumers to choose their preferred method of refund — either directly to their bank account or via coupon — during the grievance redressal process. Additionally, Ola has been instructed to provide consumers with a bill or receipt or invoice for all rides booked through its platform, ensuring greater transparency and accountability in its services. The CCPA observed that the whenever consumer raised any grievance on the Ola app, as part of its no-question-asked refund policy, Ola only provided a coupon code which could be used for the next ride without providing a clear choice to the consumer to opt between a bank account refund or a coupon. It was observed that this violates consumer rights and the no-question-asked refund policy cannot mean that the company incentivises people to simply use this facility for taking another ride.
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Posted On:
14-10-2024

Mukesh Ambani's Reliance Industries eyeing a slice of Karan Johar’s Dharma Productions: Report

Mukesh Ambani-led Reliance Industries aims to strengthen its position in the content production industry through the deal with Karan Johar’s Dharma Productions. Mukesh Ambani-led Reliance Industries is reportedly looking to pick a slice of Bollywood producer and director Karan Johar’s Dharma Productions, known for works such as the recently released Jigra, Rocky Aur Rani Kii Prem Kahaani, Ae Dil Hai Mushkil, Student of the Year, Kapoor & Sons, Yeh Jawaani Hai Deewani, Kal Ho Na Ho, Kabhi Khushi Kabhie Gham, and Kuch Kuch Hota Hai. According to a report in The Economic Times, the conglomerate aims to strengthen its position in the content production industry through the deal. The size of the stake is still unclear. A source told the daily that Karan Johar, who owns 90.7 per cent of Dharma, has been wanting to monetise his stake for a while. However past deals have fallen through due to disagreements over the valuation. Karan Johar’s mother, Hiroo Johar, owns 9.24 per cent. This development comes amid persisting financial challenges for the Hindi film industry amid a slowdown in the number of box office hits. Film production costs have risen while footfalls in theaters have taken a beating, also due to the growing popularity of over-the-top (OTT) platforms that offer a gamut of options from the comforts of one’s home.
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Posted On:
16-10-2024

Samsung Electronics workers call off their 37-day strike in Tamil Nadu after talks with government

According to an announcement from the Tamil Nadu Labour Department, following directives from Tamil Nadu Chief Minister MK Stalin and other officials, representatives from different departments held discussions with relevant stakeholders. Following which, it was agreed to end the strike immediately and resume normal operations. The labour strike at Samsung Electronics' Sriperumbudur unit, which lasted for 37 days, has been called off following extensive discussions with the Tamil Nadu government and management. The agreement reached includes a confirmed wage increase, assurance of no punitive measures against striking employees, and a commitment from workers to refrain from any preemptive actions. While the majority of the demands put forth by the striking workers, under the leadership of the Centre of Indian Trade Unions (CITU), had already been met by Samsung management, the issue of union recognition remained unresolved. Despite this, CITU continued with the strike, pushing for formal acknowledgment of its union status, which is currently pending a court decision.
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Posted On:
16-10-2024

Tata AIA Life nets Rs 25 cr premium since starting policy sale on Neu App

Tata AIA Life on Tuesday said it has netted an annualised premium of Rs 25 crore within three months of starting to distribute policies on the Tata Neu App. Customers can get insurance policies in three clicks on the Tata Group's super app, according to a statement. Mastercard relocates 6,000 technologists and engineers to new Pune facility Payments major Mastercard on Tuesday relocated its team of 6,000 technologists and engineers supporting global operations into a newer facility spread over 5 lakh sq ft in Pune. Pune is home to the largest workforce in the world for the company, which has tech hubs in Arlington, Dublin, New York, St Louis, Sydney, and Vancouver as well, as per a statement.Careedge Careedge assigns maiden ESG rating to ESAF Careedge ESG Ratings on Tuesday said it has assigned its maiden Environment, Social and Governance (ESG) rating to ESAF Small Finance Bank Limited (ESAF). The SFB has been assigned a rating of CareEdge-ESG 2 with an ESG score of 68.1, as per a statement. Birla Carbon Birla Carbon launches its first Asia Post Treatment plant in India Birla Carbon has announced the launch of its first Asia Post Treatment (APT) plant in India.
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Posted On:
17-10-2024

Bikaji Foods to invest Rs 131.01 cr for 53% stake in Hazelnut Factory for QSR segment

Hazelnut Factory Food Products, headquartered in Lucknow and boasts a turnover of Rs 44.85 crore in the fiscal year 2024, specialises in the Food and Beverage (F&B) industry. Snack making company Bikaji Foods International Ltd is set to enter the Quick Service Restaurant (QSR) market by investing Rs 131.01 crore to acquire a 53.02 percent stake in Hazelnut Factory Food Products Private Limited. The acquisition will be done through its wholly-owned subsidiary, Bikaji Foods Retail Ltd (BFRL). Bikaji's investment will result in the acquisition of a 53.02% stake in Hazelnut Factory Food Products, enhancing its Quick Service Restaurant (QSR) business through a "House of Brand" strategy. The acquisition will allow Bikaji to expand its offerings into the premium bakery and patisserie category. Hazelnut Factory Food Products, headquartered in Lucknow and boasts a turnover of Rs 44.85 crore in the fiscal year 2024, specialises in the Food and Beverage (F&B) industry, complementing BFRL's core business focus. Hazelnut Factory currently operates 6 stores in Lucknow and 1 store each in Kanpur & Delhi.
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