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

Though the business is a precarious one, bookstores are here to stay as long as there are readers driven by a compulsion to read, say leading booksellers in the capital.

Readers have placed online orders and bookstores are keeping a track of each order and are hoping to cater to every such customer once the situation gets better.

"We have 2,200 exclusive dealers or retailers and therefore what has worked well for us is this exclusive chain right from manufacturing to the consumer."

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.

Bed Bath & Beyond used to sell Ivanka Trump’s diaper bags in various prints on its vast online store. Suddenly, in March, the listings disappeared.

The company will spend about Rs 90 cr to expand and modernise the plant spread over 17 acres this fiscal, he said.

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.

Sebi shall also appoint an independent audit firm for conducting a detailed forensic audit of the books of accounts of Ricoh for the financial year 2012-13 onwards till date, the cost of which shall be borne by Ricoh.

"Some part of Kurl-on's business did get cannibalized with the opening of IKEA's first store in Hyderabad, but it is not a cause of worry," Sudhakar Pai, Chairman and MD, Kurl-on says.

Kalra was earlier associated with HSIL as Senior Vice President – Sales. Prior to joining HSIL, Kalra has held leadership positions at Sintex Industries, Somany Ceramics, and Pidlite Industries.

Bed Bath and Beyond has been struggling to boost sales in the face of changing consumer preferences towards online furniture retailers such as Wayfair Inc.

Shares of the New Jersey-based home furnishing retailer fell about 3 percent in mid-day trade.

“We plan to rapidly expand our newly launched portfolio of Shower, Beard, Body & Electric trimmers to focus on becoming a one-stop grooming solution for men and women,” Sidharth Oberoi, CEO, LetsShave told ET.

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..

India imports 45% of completely built units of consumer durables from China and it also imports nearly 70% of the components for television, and other consumer durable products. The price increase by suppliers at a time when demand is drastically down has hit the sector hard, said the presentation by Ficci to the government.

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.

There are another more than 30,000 microwave ovens, AC and washing machines which needs repair at a time when Indians are locked indoors and doing household chores themselves due to the lockdown.

​​Individually, each brand is seeking more clarity and approval on the guidelines. The guidelines say that we would have to open in a phased manner. All brands are gearing up to open up, wherever, it will be permitted," CEAMA President Kamal Nandi said.

"The heavy appliances industry will be impacted by a significant loss of up to 60 per cent in March and almost 100 per cent in April. These two months put together contribute close to 25 per cent of the annual revenue," Godrej Appliances Business Head and EVP Kamal Nandi told.

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.

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.

Both LG and Samsung have opened bookings for various products on their websites for limited periods and are offering gifts of up to Rs 10,000 on pre-bookings made during the lockdown period. LG has opened pre-bookings till May 15 and Samsung by May 8.

Major retail chains including Viveks, Shahs, Girias, Vasanth and Co are among the signatories of the letter, which fears job losses might start impacting one lakh of families, besides a steep drop in direct and indirect tax revenues to the state.

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.

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.

Even with Reliance's considerable experience, turning a trophy into a titan isn’t a given.

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.

Reliance Brands will take Hamleys toy stores to the US and Canada to capitalise on the vacuum created by liquidation of one the world’s largest toy store chain Toys R Us.

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.

It has hired Sumeet Yadav, former CEO of South African restaurant chain Nando’s in India, to head Hamleys, according to two people aware of the development.

​​H​​anung Toys and Textiles Ltd (borrowing account) dealing with the bank since 2008 had availed various credit facilities under consortium arrangement wherein, Karnataka Bank was one of the member banks, it said in a regulatory filing.

The Centre, in the Union budget presented by Finance Minister Nirmala Sitharaman, has proposed raising the import duty on toys from 20 per cent to 60 per cent from the next fiscal, saying that the step would support the MSMEs and promote local manufacturing.

Imports account for almost 85 per cent of the total toys' demand in the country and only the remaining 15 per cent of the sale is met by the domestic manufacturers, according to the industry.

Myntra has launched toys from the stables of Hot wheels, Funskool, Lego, Barbie and Simba on its platform.

Sony has roped in brand licensing company Black White Orange to roll out kids’ consumer products

The company has also held discussions with Cupertino based tech giant Apple for what could be the iPhone maker’s second flagship store in the country to be located at Aerocity near IGI Airport, sources said.

BigThinx’s neural networks create a personalised 3D virtual avatar from 2D images for fashion brands and their customers.