'The idea is to align the HR policies and work culture with changing times'.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
In 2007, Essar had said it would set up a $1.8-bn unit in Minnesota, but scaled down from a full-scale taconite steel mill project to pellet plant after the 2008 financial crisis
Firm makes disclosures of improper transactions worth Rs 1,225.3 crore with entities linked to beleaguered businessman
The company had received a loan restructuring package from banks under the 5/25 scheme last year.
Firms to find alternative export routes or face increased trade barriers
JLR, Tata Steel Europe CEOs caution staff on high risks of leaving the EU
India's captains of industry said they were disappointed at the exit of Reserve Bank of India Governor Raghuram Rajan.
The sentence could go up to three years if the evasion exceeds Rs 50 lakh (5 million).
Directors look at ways to avoid overstretched valuations.
The FT report said the existence, size and investments of the highly profitable internal trading fund, which was set up three decades ago, have until now remained largely unknown outside a circle of former and current insiders.
The withdrawal of offer letters is an indication that the company might have overestimated its future business after giving offer letters.
Take a look at Modi government's signature initiatives and status report.
Rajan has a great track record abroad.
For debt-laden companies, asset sales is an obvious solution.
The Modi government could steer through Parliament 59 out of 75 Bills.
The good news for the group has come from the port business.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
The top three industries in India susceptible to economic crimes are financial services, manufacturing and professional services
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