While the Sun management is confident of turning around Taro, industry observers say that historically, Indian drug firms have had mixed results in their attempts to integrate their foreign acquisitions with the parent entity.
Information technology services major Cognizant is at an advanced stage of negotiations to acquire Genpact, the business process outsourcing (BPO) giant.
According to lawyers familiar with the development, Premji is yet to reply to the notice. Subramanian neither responded to phone calls nor messages sent to him.
But MNCs like IBM, Accenture, CSC and HP likely to get affected more.
Kingfisher Airlines' debt restructuring package has received an in-principle nod from bankers. The package will be implemented within 120 days of receiving the Reserve Bank of India's (RBI) nod. Kingfisher, the second largest carrier in terms of market share, has debt of around Rs 6,000 crore across 12 lenders such as the State Bank of India, Bank of India and Vijaya Bank, among others.
Hero Honda, India's largest two-wheeler maker, could see a change in ownership as the Delhi-based Munjal family seeks to buy the stake held by partner Honda Motor Company of Japan in the joint venture. The Indian promoters are reportedly talking to private equity (PE) players to raise the money needed to buy the 26 per cent stake held by Honda Motor.
Deutsche Bank bid the lowest--which was promptly matched by five others--according to the sources. They said DB quoted 0.00000000001 per cent of the issue size as bankers' fee. That works out to 80 paise. The banks were apparently willing to waive the fee altogether, but what deterred them was that UBS was recently disqualified on technical grounds from the NTPC FPO as it had quoted nil fee.
The department of telecommunications was likely to ask the government for an extension to resolve the issue, as RIM needed time to provide real time access to its corporate e-mails, a senior official said. About 1 million Indians use BlackBerry.
According to tax experts, the restructuring would lead to a much lower tax outgo on dividend distribution.
India Inc on Tuesday expressed deep reservations over the supplier liability provision -- the contentious Clause 17(b) -- in the Civil Liability for Nuclear Damages Bill, 2010, saying it would seriously hinder nuclear commerce.
On Thursday, Intel Corp agreed to buy McAfee Inc for $7.68 billion. Reports said that McAfee investors will receive $48 a share in cash. This is Intel's biggest-ever acquisition.
The Indian industry seems confident on the latest bit of political rhetoric from the United States on the outsourcing of work and jobs from there, culminating in a reported statement from President Barack Obama on the process being reversed.
Several cargo containers abroad one of the ships were flung into the sea following the accident, which also triggered an oil slick along the Mumbai coast.
Move comes on the heels of a fresh attempt to break the impasse between the government and RIM.
The final blueprint of the multi-crore global tie-up between Volkswagen and Suzuki Motor Corporation has started to unfold, with Maruti Suzuki looking at becoming an original equipment maker in cars for the German automaker for markets outside India.
Under the 2007 agreement between Vodafone and Essar, the latter has a put option of divesting its stake in the telecom venture.
Finance Minister Pranab Mukherjee said the statutory joint committee, proposed to be set up to resolve disputes between financial regulators, would come into play only when there was a conflict between two regulators in an area of hybrid products.
India's merger and acquisition rules are all set for a makeover, with a panel set up by the market regulator virtually rewriting the Takeover Code. The new rules, experts said, were likely to make M&As expensive, while offering better terms to minority shareholders.
The Delhi government rolled back the hike in value added tax (Vat) on diesel, bringing down the price by Rs 2.50 a litre. Following the reduction in the levy, the price of diesel will be Rs 37.60 with effect from July 20, lower than the Rs 38.10 that prevailed before the recent increase of June 25.the Goa Cabinet also approved a partial roll back of Vat that would reduce prices of a cooking gas cylinder by Rs 15, petrol by 88 paise and diesel by 70 paise.
Other proposals include grading of hospitals, expanding network.
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