Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
The turnaround of SAIL from several quarters of losses was one of the most challenging experience, said Anil Kumar Chaudhary, the outgoing chairman of the country's largest steel maker. The chairman said he also wants to see SAIL paying back at least 50 per cent of its debt in the near future. Chaudhary who had joined SAIL as a junior manager in 1984 would be superannuating from the top post on December 31, 2020 after serving the company for almost 36 years in various roles.
A person in the know of the PIM details said an entity can put in bid for Air India on the "strength of its parent", which was not there before. A consortium can participate in the disinvestment process, provided each partner has at least 10 per cent stake as well as 10 per cent of the Rs 3,500 crore net worth requirement, according to the bid document. The lead member of a consortium should have at least 26 per cent stake. Individuals are allowed to bid as part of consortium.
The successor to the popular 5D Mark II is out. Swapnil Mathur of ThinkDigit tells you if it's worth the money.
An interview with Annush Ramasamy, programme director, South Asia, Global Student Entrepreneur Awards (GSEA).
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Expressing serious concerns over the DTC Bill, SEZ entrepreneurs on Tuesday said the proposed tax provisions would hit employment and drive away investors from the special economic zones.
The only fuel that showed growth was LPG as the government dole of free cooking gas cylinders to poor households fired up consumption by 21 per cent during April 1 to 15.
The Gupta family has relocated to Dubai amid corruption charges against them in South Africa.
The new government may also introduce a separate scheme for revival of stranded gas-based power projects
Around 200 brokers are said to be involved in the scam; they have been summoned for questioning. Major brokerages questioned by the EoW so far include Anand Rathi, Motilal Oswal, India Infoline and Geojit Comtrade.
Satyam on Thursday closed registrations for potential bidders as it began a process to sell 51 per cent stake in the company, which is caught in the country's biggest corporate scandal. The board will make the financial and legal data available to those shortlisted companies who will qualify in the EoI criteria.
The last date for receiving EoIs is February 28, after which a new reserve price will be announced.
L&T is the largest single shareholder in Satyam holding a 12 per cent stake in the IT firm.
Fujifilm leaps ahead of mirrorless camera competition by launching its GFX 100, a 102MP medium format CMOS sensor camera and two new Fujinon large format cinema zoom lenses named the Premista series.
Sources said that Essar group firm Aegis BPO submitted the EoI recently as the Essar group is trying to expand its BPO business. Both Aegis and Satyam BPO work with companies in telecom, banking, finance and insurance. Satyam BPO's biggest international clients reportedly include BellSouth, Verizon and GlaxoSmithKline
State run MTNL has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest for 3G Services Franchisee.
The source, however, did not reveal the names of the companies, which have submitted EoIs, but it could be engineering major Larsen & Toubro, Mahindra Group, Hindujas, Spice and i-Gate, among others. Meanwhile, three PSBs have given in-principle nod to Satyam to provide short-term loans for meeting salary, working capital, payment of arrears to vendors, provident fund dues, TDS and rentals charges.
These 7 blocks are adding exploration acreage of 18,510 square kilometres spread over three sedimentary basins of India and have a resource potential of approximately 33 billion barrels of oil and oil equivalent gas.
Govt reconstitutes body, says will not interfere in senior PSB appointments
'We are going to see relatively soon an executive order that deals with H-1B and other temporary visas.' 'We are also going to see an executive order on undocumented people.' 'Undocumented Indians comprise the largest population growth of all undocumented people in this country.' 'Just because India is not named in this executive order doesn't mean it won't be in the future.'
A clutch of foreign and domestic institutions has submitted expressions of interest to acquire at least 26 per cent in the Delhi-based Industrial Finance Corporation of India (IFCI).
Though the Planning Commission favours imposition of a direct tax on Special Economic Zones (SEZs), it does not agree with the contention that these tax-free industrial enclaves are leading to revenue loss.
'When you have a committee, there will not be any autocracy.' 'It means one person cannot take any decision on the temple.'
Speaking to Business Standard on the sidelines of the ground breaking ceremony of the Chennai-based Sri City's SEZ in Tada, in Andhra Pradesh, last week, Singhal said SEZs in the country have so far generated over 300,000 jobs, adding once all the 462 zones start functioning, they are expected to create 4 million jobs.
Bloggers, who have picked up on this order and have begun pointing out its inequities, point out that the wording of this EO is deliberately vague.
As prices go up and airlines go under, can you still afford to travel well? Here are three tips and six 'secret' routes by Peter Greenberg.
Hiranandani, K Raheja Builders, Gamon Infrastructure and Kalpataru are reported to have shown interest in the Rs 9,300-crore project, launched by the Slum Rehabilitation Authority (SRA) of the Maharashtra government.
RNRL and Mukesh Ambani's RIL are fighting a legal battle over the terms of gas supply agreement for Anil Ambani Group's gas-based Dadri power project. Two weeks ago, government lawyer Mohan Parasaran had stated in the court that the Empowered Group of Ministers had decided that $4.2 per mmbtu would be the minimum price of KG basin gas.
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
Two major airlines are considering joining four start-ups to provide all business class flights at a fraction of the cost that the regular airlines charge for business and first class with private arrival and departure lounges.
Indian Oil Corporation Ltd is to submit an expression of interest to acquire the marketing assets of an oil company in Thailand.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Entities like CarDekho, Cartrade and a host of other online players went live even as Carnation, former Maruti managing director Jagdish Khattar's first entrepreneurial venture, was searching for the right business model, says Ajay Modi.
Going ahead with the sale of part of its equity in Bharat Heavy Electricals Ltd despite opposition from the Left, the UPA government has invited expression of interest from investment bankers for the divestment.
Air-India will appoint an advisor for laying out the roadmap for its initial public offer by this month-end and plans to hit the capital market by December 2005.
Crisis-hit National Spot Exchange Ltd (NSEL) on Tuesday failed to pay investors any of the Rs 174.72 crore (Rs 1.74 billion) installment due to them, defaulting for the 13th straight time.
There was a great harvest for Fertilisers and Chemicals Travancore on Tuesday as the government put out advertisements inviting initial bids for a 51% strategic stake in the company.
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