The Aditya Birla group has set aside 6.5 per cent stake in Bachhraj & Co, the company that controls 24.54 per cent of Bajaj Hindusthan, for Kushagra Bajaj's wife, Vasavadatta, sources close to the development said.
As the debris of failed joint ventures piles up, experts quote the old adage of prevention being better than cure.
Until 26 months ago, the laws governing cross-border joint ventures were loaded heavily in favour of the Indian partner.
A day after Vodafone announced its $11.1 billion acquisition of Hutchison's equity holding in Hutch-Essar, India's fourth largest mobile service provider, it received an unsolicited advice from the Egyptian CEO of Orascom, Naguib Sawiris.
The warring promoters of FMCG major Britannia - the Wadias and the French dairy giant Danone - are looking at sorting out intellectual property rights issues
BPL Mobile, one of Mumbai's oldest cellular phone operator, is looking at dropping its existing brand name as Essar's agreement with the TPG Nambiar-owned BPL on the use of its trademark expires by March-end.
ATM deployment is set to gain scale with the Anil Ambani group's Reliance Capital and a few technology firms joining hands with partner banks to launch co-branded (known as partial white-label) ATMs.
Percy S Mistry, chairman of the high-powered committee on making Mumbai an international financial hub, has put in his papers following differences of opinion with other members.
The Ruias of Essar have rejected an offer by the Aditya Birla group's Idea Cellular to acquire BPL Mobile's Mumbai circle, which lost heavily on its valuations due to the corporate battle between its shareholders.
Domestic pharmaceutical major Cipla has dropped out of the race to acquire Merck's generics business citing expensive valuation as the reason.
India produced 97 million tonnes of dairy products in the year to March 2006 and Danone seeks an increased market share, especially in the speciality product portfolio.
Prashant Indulkar, 37, was secretary to VSNL's Managing Director N Srinath and was picked up by the Dadar police on February 1 after VSNL filed a complaint alleging that he had siphoned off funds.
A liquidity crunch has hit several microfinance institutions with the flow of funds 'temporarily' drying up after the largest MFI lender, ICICI Bank, halted payments in early January.
Avesthagen's promoters also refute violation of non-compete clause.
Global pilot project set to revolutionise remittances.
More interest hike shocks are to come with no signs of the rates having peaked up.
German retail giant Metro Cash & Carry and India's emerging retail venture Reliance Retail have roped in the property services group of ICICI Bank for identifying retail properties for its proposed pan India expansion.
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