Special CBI judge M P Chaudhary fixed June 21 for next hearing of the case.

Rotomac Exports and Rotomac Global, firms promoted by banking-fraud accused Vikram Kothari, will now be auctioned by the bankruptcy court.

The court allowed a day's transit remand for both the accused, who were arrested on Thursday for alleged default on loan repayment.

Rotomac violated FEMA rules and worked for interest rate differential in local and foreign currency in the guise of trade without having any genuine business transactions.

Earlier, the loan default was estimated at over Rs 800 crore but scrutiny of documents by CBI revealed that the amount is much larger.

After Rs 11,360 crore PNB scam , another ace businessman - Vikram Kothari from Kanpur -has been accused of defaulting on repayment of more than Rs 800 crore loans from five government banks

Kohler would enhance its sales network in the domestic markets by having presence in 200 towns in next three years and become a 1,000 store company in next five years.

We will be investing approximately Rs 2-3 crore each in setting up 10 Lacasa stores covering around 40,000-50,000 sq. ft. area till 2020.

The capex for FY'18 is about Rs 300 crore to expand lighting and bathroom fitting plants

The Group has launched a marketing campaign including digital, outdoor, television and cinema to promote the brand, the company said in a statement.

The memory-foam bedding market is projected to be worth Rs 300 crore by next year.

According to the notification, companies that make phones priced at ₹15,000 and above and which make a cumulative investment of ₹1,000 crore over four years, starting with ₹250 crore in the first year, will qualify for an incentive of 6% for the first two years, followed by 5% for the next two and 4% in the fifth year..

Having suffered an unprecedented sales decline of 6-7 per cent in 2019-20, the industry will be up against challenges in both supply and demand sides due to the coronavirus pandemic, Panasonic India and South Asia President and CEO Manish Sharma said.

Products such as laptops, smartphones and printers have become crucial for those working from home, while household appliances like washing machines, ACs, TVs and vacuum cleaners are now more important than ever for households.

Several brands took the decision since both offline and online market is closed leading to piling up of inventory in their warehouses, and several of their plants falling in red zones or in states where permission has not yet been given. Some states like Tamil Nadu, Telangana and Karnataka have also decided to not provide any relaxation to industries till the lockdown ends.

The company plans to make investments of around Rs 210 crore on infrastructure development of the facility over the next four years.

Companies like Panasonic India, Godrej Appliances, Dixon Technologies and Super Plastronics Pvt Ltd said with retail outlets shut there is no point to start production as there is existing unsold inventory of March at warehouses and dealers.

Most consumer durables companies in India rely on imported components. Poor input supplies since January and later closure of factories, malls, shops and offices due to the lockdown hit consumer demand badly.

"Sales and profits of set products business, including smartphones and TVs, are expected to decline significantly as COVID-19 affects demand and leads to store and plant closures globally," Samsung said in a statement.

The company has cut prices anywhere from Rs 2,000 on the smaller screen televisions going up to Rs two lakh on a flagship 85-inch model apart from rolling out long tenure no-cost EMI schemes and bundling offers. It has launched a new 85-inch model at Rs 5.9 lakh bringing down its earlier pricing structure of Rs 10 lakh in this screen size.

The business of fine writing instruments is growing in tandem with other luxury segments in Koramangala and its surroundings.

About a fourth of the corrugated box makers in the country are in danger of shutting down over the next few months as they are unable to pass on cost pressures to their clients.

Documentation solutions firm Xerox today announced the appointment of Ashraf ElArman as Managing Director of its Indian unit, effective June 22.

At Myntra, Kamal was heading different verticals including logistics, operations excellence and the training function, where he built the in-house logistics team and scaled it to include more than 3500 people, spread across 80 plus towns and delivering over 100,000 packets a day.

India’s largest maker of writing & printing paper has been in talks with Nine Dragons for some time now. Discussions are likely to lead to a binding agreement soon, sources said.

"The company will invest another Rs 15 crore in another three months. The factory is close to Chennai port, thereby facilitating easy exports to our buyers abroad. We are happy to inaugurate our third manufacturing facility in India and production has already begun ,” said John Baby, chief executive officer (CEO), Funskool.

Reliance Retail’s marquee label operator Reliance Brands is the India master franchisee for Hamleys, which reputedly has its origins in the world’s oldest toy store in London that was opened in 1881.

With 167 stores across 18 countries, Hamleys gives Reliance Retail a much-needed global footprint.

The startup plans to use the funds raised to focus on building unique phygital interactions, new product developments and expand its retail presence from 15 countries to more than 30 countries

The world’s largest publicly traded toymaker, which has licenses for popular franchises such as “Frozen” and the “Avengers,” said US goods produced in China could drop to about 50% by the end of 2020, from just under two-thirds currently.

Rohan Mathur, senior regional sales manager - South Asia for The Lego Group spoke to ET about the toy industry, company’s India plans and its recent event in Delhi engaging the Indian government to prioritise play.

More than two years after filing for bankruptcy, Toys 'R' Us has managed to make a comeback with the support of a competitor, just in time for the holiday season. The iconic toy brand has relaunched its website, shortly after US retail chain Target announced a partnership with the defunct brand's parent company Tru Kids Brands.

Most consumers tend to go bargain hunting online. For a large part of 2019, luxury mall managers reported that sales were lacklustre. Luxury goods websites, however, managed to buck the trend because of 20-50% lower costs on their sites. But at the moment, watch companies do not seem to be finding too many takers in tier-2 and 3 towns.

Twelve tons of the gel will be produced as soon as this week.

Giorgio Armani has donated 2 million euros in recent weeks to hospitals around Italy.

Dior, which is also owned by LVMH, the world's biggest luxury goods group, has been making masks since the end of last month for hospital staff.

While many UK companies have utilised the government's furlough scheme, which sees employees paid 80% of their salary, Burberry said it would not rely on government support for jobs in the UK where more than a third of its workers are based.

The drop in consumption by the world's second-biggest gold buyer could limit a rally in global prices.

GJC chairman Anantha Padmanabhan said, “There may be some token booking for gold by individuals for amounts like Rs 5,000 or so. But there will be no big investments in gold as all the shops are closed. The drop in demand will be around 94%.”

On Thursday, gold futures for June on MCX closed at Rs 46,352/10gm. So, in about one and a half years, gold prices in India could gain about 75%. In the international market, gold is currently trading at about $1,750 level.

The 49-year-old, who has been lodged at Wandsworth Prison in south-west London since his arrest last year, appeared before a UK court via videolink.

India’s gross import of rough diamonds had declined by 13.43% to $12.39 billion between April 2019 and February 2020 from a year earlier.

World's gold demand during the first quarter of 2019 stood at 1070.8 tonne, according to WGC's Q1 Gold Demand Trends report.

According to the World Gold Council's (WGC) Q1 Gold Demand Trends report, in terms of value India's the first quarter gold demand fell 20 per cent to Rs 37,580 crore, compared to Rs 47,000 crore in the same period of 2019.

Jewellery demand in the world’s second largest consumer slumped 41% to 73.9 tonnes , thanks to a 25% jump in quarterly average price to Rs 36,874 per 10 gm (ex import duty and GST) and the fallout from Covid 19, the WGC latest global demand trends report shows.

Diamond trade at Surat has come to a halt because of the lockdown. Many workers have also left.

The company will continue to strictly comply with all government rules while reopening and running operations at the store. The company plans to reopen first 50 stores by 10th May, 2020.

On March 24, the company had decided to temporarily close its manufacturing operations at the two units with immediate effect till further notice following announcement of nationwide lockdown to curb spread of coronavirus pandemic.

The body has appealed to Prime Minister Narendra Modi and state chief ministers to facilitate payement of wages to workers for these two months. GEMA president Vijay Jindal also sought intervention of Textile Minister Smriti Irani and Finance Minister Nirmala Sitharaman in the matter.

Once markets are reopened, the industry would also be braving a changing consumer spending behavior and capacity. There could be a major lag before sales begin to pick up. Fashion as a commodity is also perishable. It may be very difficult to sell the loaded inventories in warehouses, and heavy discounts would not be an attractive option at a time of slim profit margins.