Sajjan Jindal's Denial Of Sexual Assault Claim, Adani's IANS Takeover And Other Stories From Weekend You Can't Miss

JSW Chairman Sajjan Jindal Denies Rape Allegation

Sajjan Jindal, Chairman of the JSW Group, has strongly denied allegations of rape. In a statement, a representative for Jindal emphasized his commitment to cooperating fully with the ongoing investigation. The statement also requested respect for the family’s privacy during this time.

The allegation was reported at Mumbai’s Bandra Kurla Complex Police Station. According to Indian media reports, the complainant is a 30-year-old woman, and the alleged incident occurred last year.

Jindal’s denial of these allegations comes amid heightened scrutiny, while a JSW spokesperson has referred all requests for comment to the third-party representative handling the matter.

Adani Group Acquires Majority Stake in IANS

The Adani Group has acquired a 50.5% stake in news agency IANS India, marking a significant expansion in the media sector. The acquisition, valued at ₹5.1 lakh, was conducted through Adani Enterprises' subsidiary AMG Media Networks.

The agreement includes operational and management control of IANS, along with the right to appoint all directors to its board.

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Sandeep Bamzai, who holds the remaining stake, reportedly plans to gradually exit the company. This acquisition adds to Adani’s growing media portfolio, which already includes the NDTV broadcasting network and Quintillion Business’s BQ Prime.

The move signifies Adani Group’s increasing influence in the Indian media landscape.

See Also: Adani Enterprises Emerges Top Gainer As Group Ends Volatile Week

Zee Entertainment Requests Merger Extension with Sony

Zee Entertainment Enterprises (ZEEL) has requested an extension for the merger with Sony Group Corporation’s Culver Max Entertainment Private Limited (CMEPL).

The current deadline for the merger is December 21. ZEEL has sent a letter to Sony requesting the extension, with a new date to be decided jointly.The merger has received all key approvals, but differences over the CEO position have caused delays.

Sony is reportedly pushing for NP Singh as CEO, while ZEEL favors Punit Goenka. The merger, once completed, will create a major media powerhouse in India.

Swiggy’s Collection Fee Dispute with Restaurants

Swiggy’s decision to charge a 2% collection fee on orders has sparked a dispute with restaurants. The National Restaurants Association of India (NRAI) has criticized the move, especially during the peak business season in December.

Restaurants are seeking clarity from Swiggy on this new fee. Swiggy claims the fee is for facilitating customer payments on its platform. However, restaurants view it as an indirect increase in commission costs.

The development comes ahead of New Year’s Eve, a significant business day for food delivery platforms.

Sun Pharma and Lupin Recall Drugs in US

Sun Pharma and Lupin are recalling products in the US market due to manufacturing issues, as per the US Food and Drug Administration (USFDA).

Sun Pharma is recalling Liothyronine Sodium Tablets used for treating an underactive thyroid. The recall is due to failed impurities/degradation specifications.

Lupin is recalling penicillamine tablets used for rheumatoid arthritis and Wilson's disease. The recall is due to failed dissolution specifications. Both recalls are classified as Class II, indicating temporary or medically reversible adverse health consequences.

The recalls highlight the tightening quality control measures in the pharmaceutical industry.

Read Next: Ola’s Homegrown ChatGPT Alternative ‘Krutrim AI’ Just Launched: Here’s Everything You Need To Know

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Posted In: EquitiesNewsEducationMarketsGeneralAdani GroupIANSJSW GroupLupinPunit GoenkaSajjan JindalSun PharmaZee Entertainment