Thu, Aug 3, 2023 8:59 PM
Tesla Leases Office Space In Pune Amid Talks Of India Entry
A Flip by Shubhangi Gupta
Hindustan Unilever is reviewing the future of its ice cream division, setting up a committee of independent directors to assess the prospects of the business, following its parent company Unilever’s move to separate its ice cream operations across markets. In a statement released Friday, HUL said the committee will provide recommendations on the best path forward for the ice cream business.
Open Flip
A whistleblower complaint has alleged that Bank of America shared nonpublic information with some investors before it sold roughly $200 million worth of stock for some clients in India, the Wall Street Journal reported on Thursday. A Bank of America spokesperson told Reuters it had found no evidence to support these claims. The whistleblower's complaint was filed in June, according to the report.
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The deadline for Foreign Portfolio Investors (FPIs) to comply with Ultimate Beneficial Ownership (UBO) norms ends on Monday, September 9, failing which fund operators can lose their FPI licence. UBO regulations mandate FPIs to comply with the enhanced disclosure norms regarding ownership, economic interest and control.
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