News Broadcasting
Network18 transfers Burrp in internal restructure
MUMBAI: In a communique to the National Stock Exchange of India and BSE on 3 July signed by Network 18 company secretary Ratnesh Rukhariyar, the company has disclosed information regarding restructuring of Burrp.
“This has reference to our letter dated 19 April 2017 regarding restructuring of Company’s business of food and restaurant search and recommendation engine operated under the name of Burrp,” the communique stated.
“The company, on 3 July, 2017, has entered into a Business Transfer Agreement with Foodfesta Wellcare Private Limited (FWPL) (a subsidiary of Big Tree Entertainment Private Limited (‘Big Tree’)) for transfer of Burrp undertaking as a going concern on slump sale basis. The transfer will be effective 1 July, 2017,” it added.
Big Tree is an associate and a related party of the Company. Big Tree is also an associate of Reliance Industries Limited, a promoter group company. Big Tree owns and operates the popular ticketing platform ‘Book My Show’ and Burrp will be a natural fit in its portfolio.
“Burrp’s revenue during FY 201.6-17 was Rs. 56.67 lakhs accounting for 0.69% of Company’s turnover. The net worth as on 31•’ March 2017 stood at a negative Rs. 2889.55 lakhs. Considering the insignificant contribution of Burrp to the revenue of the Company and the investments and the focus required to be made, the Company considered and decided to divest Burrp business,” it added.
The consideration for the slump sale is Rs. 6.70 lakhs and has been determined on the basis of valuation carried out by Ernst & Young LLP. The transaction is at arms’ length basis and being a slump sale does not have any impact on the shareholding pattern of the Company.
News Broadcasting
Rising Bharat Summit 2026 spotlights India’s global ascent
PM Modi keynotes two-day event with ministers, diplomats and icons in New Delhi.
MUMBAI: India didn’t just host a summit, it threw a coming-out party for a nation ready to own the global stage. The News18 Rising Bharat Summit 2026, held on 27–28 February in New Delhi, emerged as a high-octane platform for ideas, vision and strategic dialogue, uniting national leadership, global policymakers, industry titans, defence strategists and cultural icons under the theme “Strength Within”.
Prime minister Narendra Modi set the tone with a keynote that framed India’s resurgence as a reclaiming of lost potential built over generations. “In previous industrial revolutions, India and the Global South were merely followers,” he said. “But in the era of Artificial Intelligence, India is a partner in decisions and shaping them.” He highlighted the country’s thriving AI startup ecosystem and the recent AI Impact Summit attended by over 100 nations.
Union minister Piyush Goyal (Commerce & Industry) stressed India’s readiness to scale exports and deepen manufacturing, while Ashwini Vaishnaw (Railways, I&B, Electronics & IT) positioned technology and infrastructure as twin engines of growth, especially in AI and digital trust. Jyotiraditya Scindia (Communications & North East Development) revealed India’s ambition to lead in 6G through the Bharat 6G Alliance and partnerships with over 30 countries.
Global voices added depth: former Singapore Foreign Minister George Yeo called India’s development “self-sustaining” and strategically vital; ex-UK Chief of Defence Staff General Sir Nick Carter asserted India deserves a seat at the great powers’ table; and former US Commerce Secretary Carlos M. Gutierrez joined ambassadors from Norway, Germany and Sweden in discussions on geopolitical realignment, sustainability and defence preparedness.
Other speakers included veteran investor Ramesh Damani, World Gold Council CEO David Tait, Vianai Systems founder Dr Vishal Sikka, DeepTech Bharat Foundation co-founder Shashi Shekhar Vempati, defence experts Rajesh Kumar Singh, Sunil Ambekar, Patrick McGee, Tom Cooper and Adrian Fontanellaz, plus cultural and sporting icons Kangana Ranaut, Saina Nehwal, PR Sreejesh, Mohammed Shami, Yuzvendra Chahal, Mithali Raj, Anil Kapoor and Yami Gautam.
The summit was supported by Jio Financial Services (Presenting Partner), Phonepe and DS Group (Co-Presenting Partners), Pernod Ricard India and Kia Seltos (Powered By & Driven By), state governments of Uttar Pradesh, Chhattisgarh and Uttarakhand (State Partners), and associate partners including NSE, M3M Foundation and Reliance Industries.
Broadcast live across News18 Network, CNBC-TV18 and CNBC Awaaz, the event reinforced India’s image as a confident democracy and emerging global power proving that when strength comes from within, the world can’t help but watch.
