FIIs accumulated India's top-listed companies at an average valuation of around 16 times.
The money was paid to Mallya in two tranches in his offshore accounts.
RBI, Enforcement Directorate to see if money was sent to tax haven
Bankers gave money to Mallya's airline though it was not enough to even service existing debt?
Mallya showed his net worth at Rs 615 crore, mainly in shares and bonds.
In 2012, Diageo had paid Rs 3,635 cr directly to Mallya for his 19.3% stake in United Spirits.
The markets gained nearly 7 per cent in the 4 trading sessions of March.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
This amendment is proposed to be made retrospectively effective from FY16 onwards.
The change in the latest Budget will impact the sale and rent of SEZ units of companies like Adani Port, which has large SEZs in Mundra.
Additional levy to eat into Rs 6,000-crore income of top promoters
Core sector companies have seen volumes drop to single digit in the first nine months of FY16.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
Percy Mistry says things at market regulator Sebi are also in bad shape.
Experts expect the trend to continue in the near term.
Congestion on Mumbai roads has become chronic.
Combined net profit up 7.4% over a year ago, versus 11.2% in Q2.
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
Yuan depreciation will make imports in China more expensive, depressing demand, especially for commodities.
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