While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
Singapore Airlines first approached the Tatas, its old choice for a venture in India, and was aware of AirAsia negotiations.
With the Telecom Regulatory Authority of India (Trai) refusing to reserve 900-MHz spectrum for incumbent telcos, asking them to vacate the quantity held and win back through bidding, GSM operators, led by the Cellular Operators Association of India (COAI), have decided to propose a compromise formula.
The Sebi Act deals with securities and the definition of securities, according to the Securities Contracts Act, doesn't include commodities.
Within a week of the Telecom Regulatory Authority of India giving its final recommendations on the valuation and pricing of spectrum, Chairman Rahul Khullar speaks to Business Standard on the process the regulator followed in finalising the much-debated issue.
As the chairperson of SKS Trust, the largest shareholder in SKS Microfinance, Biksham Gujja created a stir by announcing they wanted to nominate Vikram Akula, the ousted boss who had founded the company the latter founded, as its representative on the board.
Trust explores options on reinduction of ousted founder on board as firm closes ranks.
In his petition to the Company Law Board filed on September 9, Bakshi said McDonald's began 'arm-twisting' him to sell his entire shareholding in Connaught Plaza Restaurants, the equal joint venture between him and McDonald's since 2008, at an 'undervalued' price of $5 million, later raised to $7 million.
Telecom companies that bought spectrum in the 2G auction of November last year would lose around Rs 4,000 crore
Vikram Bakshi, the estranged partner of fast-food chain McDonald's, will seek reinstatement as managing director of the 50:50 joint venture Connaught Plaza Restaurants, with a plea to the Company Law Board seeking the 'deadlock' in the August 6 board meeting be resolved.
Laxity in enforcing KYC and allied norms suspected; money laundering gaps also on probe panel's mind
After defaulting for a consecutive time in paying its investors, National Spot Exchange Ltd (NSEL) got a Rs 177-crore (Rs 1.77 billion) lifeline from its main promoter, Jignesh Shah-run Financial Technologies.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
To put its Reebok business in order, the German footwear major hand-picked the soft-spoken Erick Haskell, who has vast experience of working in China.
Exchange to reply to FMC's letter soon, CEO says buyers can't be declared defaulters where there is 'market disruption'.
Striking workers lacked support in the Pimpri-Chinchwad-Chakan belt.
Just hours after the union at Bajaj Auto's Chakan plant called off its strike unconditionally, managing director Rajiv Bajaj spoke to Business Standard.
Deal to help RCom reduce debt, Sun gain subscribers in new markets
Brokers have only kept guarantees for which they have open positions.
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