This will be over and above a Rs 3,655-crore domestic rights issue and a Rs 4,350 crore convertible preference share issue the company announced last month.
The judge orally observed that the obtaining of this kind of benefit by any such nominee-director raised an important question of morality and, equally, of law.
Financial institutions are facing a Herculean task in convincing their nominee directors not to exercise the employee stock options granted to them
The move opens a debate on the role of independent directors nominated by institutions.
Only a handful of domestic steel producers have announced their results for 2006-07, but the indications are that they will report stellar performances this financial year.
Sources said the company would rope in private equity players in the next round of financing within a year. After reaching a particular scale, the company would also come out with an initial public offer, they added.
Amar Ghosh, a real estate broker, is negotiating a deal with a Mumbai-based company for 65 acres around Singur, 40 km from Kolkata, at Rs 22.5 lakh (Rs 2.25 million) per acre.
As they feel that the rupee may depreciate to 43.75 levels over the next six months.
With the government considering a new Bill to make the Indian Institutes of Management answerable to Parliament, India Inc leaders say the time has now come to grant complete autonomy to these institutes.
Dispute over competing investments may carry on.
The clampdown will be part of a package from the central bank to make end-use norms for external commercial borrowing (ECB) funds more stringent for various sectors.
Sesa Goa has received a showcause notice from the Jharkhand government asking it why its prospective licence for iron ore mines in the state should not be cancelled.
The Bombay high court has lifted the Company Law Board's indefinite stay on all board meetings of Bajaj group holding companies.
Sources close to the development said RIL, which was planning two adjacent economic zones in the coastal district of Raigarh in Maharashtra, is looking to set up three special purpose vehicles (SPVs) to develop the various components of the project.
Sources close to the situation said the Tata Steel board is slated to discuss the issue at its meeting on April 17.
As the president of Assocham, Dhoot has asked Confederation of Indian Industry and Ficci to join him in requesting the prime minister to reconsider the move to ban states from acquiring land.
I agree with the Tarapore report on fuller capital account convertibility except for the time frame set.
India will lose up to $50 billion to $70 billion per annum in terms of financial and commodity trade services fees in the next 12-15 years, if it fails to open up its financial sector to competition.
The country's leading steel companies were considering a price increase of Rs 1,000-2,000 per tonne from April 1, despite a partial rollback last month.
The automobile companies, say analysts, would take the maximum hit as the hike in the loan rates could soak up the demand for cars and commercial vehicles and pull the growth rates down.
