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.
The proposed company could rope in former CEO of Star TV Peter Mukerjea and Mukesh Ambani.
The demand comes close on the heels of Community, which represents more than 80 per cent of the company's UK employees, seeking talks with the Tata group
Meet Arunkumar Ramanlal Gandhi. The head of the M&A activities in the Tata Group, who called up Tata to convey Tata Steel's victory.
Avesthagen's promoters also refute violation of non-compete clause.
Tata Steel's global footprint is spreading at a furious pace.
Board has right to reject takeover panel's choice.
Tata Steel's greenfield projects -- in Orissa, Chhattisgarh and Jharkhand -- were significant for Corus, which incurred high cost on raw materials, said sources close to Tata Steel.
The Hinduja group says it will bid for Italian tyre and real estate major Pirelli's stake in Telecom Italia only if the acquisition gives it management control in Italy's largest telecommunications operator.
This will be the largest M&A by an Indian firm, to be complete by January-end.
Amtek Auto is renewing its bid to acquire JL French Automotive Casting's Whitham plant in Essex in the UK, six months after its first abortive attempt.
The Tata group may take on global automobile giants such as Ford and Renault-Nissan for in an attempt to buy Daewoo Automobile Romania, the privatisation of which the Romanian government has put on the fast track.
The shadow of the European Commission's anti-trust proceedings is hanging over Companhia Siderurgica Nacional's bid for Anglo-Dutch steelmaker Corus.
Hutchison Telecom is expected to complete the sale of its 67 per cent stake in the country's fourth largest telecom company, Hutchison Essar, before the Chinese New Year holiday, which begins February 17.
Financing would not be an issue for the group that had business interests in global finance, telecommunications, film, oil and the automotive sector.
Just six months after pulling out of Hutchison Essar, the Hinduja group is set to throw its hat into the ring for the country's fourth largest telecom company.
Final bid expected to be placed in a fortnight.
In a bid to enhance shareholders' value, the Kinetic group is restructuring operations to house its two-wheeler and auto-component businesses in Kinetic Motor Company and Kinetic Engineering, respectively.
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