According to Sud, MYNL had sold most of its holding in Satyam immediately after the IT major made an aborted bid to acquire Maytas Infra and Maytas Properties for $1.6 billion on December 16, 2008. MYNL still holds 6,000 equity shares of Satyam.
The government on Tuesday moved the Company Law Board to remove the current directors of Maytas Infrastructure and Maytas Properties from their respective boards and declare them ineligible for appointment as directors of any other company. The CLB will consider the matter on February 24.
There were also reports that the board might opt for an open bidding process, which will bring in the much-required funds into the company. The board will also insist that only companies with a good track record can bid for the company. However, this could not be confirmed.
Infotech is targeting firms that have the right set of skills and nearness to customers in the US, besides looking at companies that will help increase its competency in terms of delivery in China, Romania, India and Russia in the areas of geographic information systems and engineering within the design space.
Last week, the 20-hectare zone had got embroiled in a controversy amid reports that the state government was taking back the land. This was after allegations that the land was allotted in an unfair manner. But Chief Minister Rajasekhara Reddy said the government would not cancel the allocation as the company was "sound."
ISB is in the process of framing guidelines on the proposed initiative. It will also approach companies for supporting the students. There is also a proposal to provide grants to the entrepreneurs. However, this is still in nascent stages.
HEC will be developed by the Ras Al Khaimah Investment Authority of UAE in association with APIIC. The government gave the land to APIIC at Rs 16 lakh (Rs 1.6 million) per acre, AP's information and public relations minister said after a cabinet meeting. The investing agency had sought 2,000 acres for the HEC. The remaining land would be given in due course, an APIIC official said.
Meeting agenda to go beyond buyback.
"There are 4.55 million broadband-connected SME PCs, of which 13 per cent are expected to be the hosted exchange opportunity. Email is expected on every fourth phone to be sold in India in the next four years. Enterprise customers now want to access email, calendar, attachments and more wherever they are, on choice of their device --a big opportunity for telcos, Internet service providers and systems integrators," said Dayakar Puskoor, executive chairman, GlobalOutlook.
The Annual Tax Survey by Right Horizons, an investment advisory and wealth management firm, shows that financial planning among salaried individuals is by and large conspicuous by its absence.
About 81 per cent of employees in India have confidence in their organisations, reveals a recent research conducted by the Kenexa Research Institute (KRI).
Spencer's Retail, the retail arm of RPG Group, says it has seen a 30-40 per cent decline in the rentals in Tier-II and -III cities. In Tier-I and metropolitan cities, the correction is in the range of 15-20 per cent, and a further correction and its impact is likely to come in the next few months.
The amount of tax will depend on the holding period of the fund. Short-term (less than a year) profit from the fund is added to your income and will be taxed according to your income slab. In case of redemption made after one year, the long-term capital gains tax will be charged.
The four key risk areas India needs to focus on at the moment include economic security, energy security, agriculture and food security and national security, it adds. The WEC-CII report says many issues facing India in these four areas will require considerable long-term investment from both public and private sectors. 'Decision-makers in government and business will be forced to make trade-offs as to where spending and investments are allocated,' it said.
"The drop in the sales of laptops in India in the last quarter is a temporary phenomenon. We attribute that to the increasing difference in costs between the desktops and laptops, especially due to the rise in dollar value. We are confident of garnering a double digit market share in the laptop segment in India in the next 18 months," George Paul, executive vice president, marketing, HCL Infosystems said.
"There will be no layoffs in the Indian context and, as said before, we will be recruiting 25,000 people gross. We will make our people prepared for the upturn, which will happen. We are focusing on recruiting people and training them. We are focusing on education as this is a great opportunity to make a positive brand and image for the company. We are still seeing opportunities in the market," said Kris Gopalakrishnan, CEO, Infosys.
The study contains findings across credits and enterprise risk, operational risk, ALM and market risk. 'Both sets of banks (new-generation and traditional) have highlighted the lack of adequate people capabilities as well as the scope/ mandate of the mid-office as key concern areas,' it said. Both are at par with the surface, treasury scope, trading strategies and instruments; improved financial performance is strongly correlated with superior risk management practices.
Farmers say they are paid lesser by Rs 110 per sq meter for road project. A day before the announcement of Nano project at Northcote farm in Chharodi village in Gujarat, the Ahmedabad district collector along with revenue department officials had assured the farmers that they would be duly compensated for the amount of land they given for four lane road project.
"We are responding to all queries from US FDA and will emerge as a stronger player in the world's biggest pharmaceutical market," Ranbaxy Chairman and Managing Director Malvinder Singh said. The US, which accounts for 20 per cent of Ranbaxy's $1.5-billion annual turnover, has an import restriction on 30 of its medicines by the US Food and Drugs Authority.
Infosys already works with a communication services provider major in Western Europe in the digital TV space. The company has a solution called modular content accelerator which serves as an interface between stakeholders of consumer marketing and IT. The solution provides an operator the means to efficiently manage content catalogue, bundled offers and pricing, apart from providing interactive services through multi-media content storefront.
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