The Supreme Court on Monday gave conglomerate Sahara another three months to come up with a final proposal to raise funds against its assets to secure bail for its founder Subrata Roy, who has been held in a New Delhi jail for more than a year. Sahara has made several failed attempts to raise $1.6 billion in bail money. Roy was jailed after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal. The Supreme Court last week gave Sahara, a sprawling conglomerate that ranges from property to Formula One motor racing, a final chance to raise funds in order to bail out Roy. On Monday, the country's top court allowed Sahara to sell part of its Aamby Valley township outside Mumbai, which has luxury villas and a golf course, to raise funds.
The top court last week gave Sahara a final chance to raise funds.
As billions of dollars flow into India's booming online economy, some investors are beginning to fret that soaring valuations could hamper market listings.
Sahara told the top court this week it was considering other proposals to raise funds, including selling a luxury development outside Pune.
Sahara relied on a letter from bank saying the funds were there.
Finance Minister Arun Jaitley last month pointed to the high cost of capital for India's businesses as a key factor behind a manufacturing slowdown.
Xiaomi said in a statement that "it isn't easy" to build up a patent portfolio as a start-up company, but it aims to have filed 8,000 applications by 2016.
The 24-hour delivery offer applies only to select postal codes and is not available across the country.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Piramal, controlled by billionaire Ajay Piramal, and APG will invest in local infrastructure companies through rupee-denominated mezzanine instruments.
A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
The panel, however, set some conditions for the company, including that Cairn India will have to upload the status of environment compliance, including results of monitored data, on its website and update it periodically.
Several brokerages lifted their outlooks for the BSE Sensex and companies were queuing to ride the wave of political euphoria
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
There are just 1,500 drug inspectors responsible for more than 10,000 factories in India
At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.
Its factory in Chikalthana in western India was last month hit by the British drug regulator's curb on imports from the plant over manufacturing deficiencies.
Ranbaxy, which is 63.5 per cent-owned by Japan's Daiichi Sankyo Co and gets more than 40 per cent of its sales from the United States, did not immediately respond to a request on Wednesday for comment on the FDA observations.
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
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