It has become old fashioned to be attached to your business.
Finance ministry is understood to have reservations on the ownership of minority stakeholders in Hutchison-Essar and is likely to raise the issue at the FIPB meeting.
The UK group bought a 52 per cent stake in the Indian company in May, which is now called Vodafone Essar. Mumbai-based Essar Group owns 33 per cent, with Asim Ghosh, Vodafone Essar managing director, and Indian businessman Analjit Singh owning the remaining 15 per cent.
Vodafone Group Plc won the Indian cabinet's approval for its $1.6 billion deal to buy out minority partners in its unit in the country, Information and Broadcasting Minister Manish Tewari said on Thursday.
Max Healthcare Ltd said on Thursday it would invest Rs 250 crore (Rs 2.5 billion) in the next three years on expansion to take the total bed capacity to 1,500.
Max Healthcare on Monday announced investing around Rs 425 crore (Rs 4.25 billion) during 2004-05 for setting up six hospitals in the National Capital Region.
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Finance secretary R S Gujral too is believed to have met top Vodafone officials in Mumbai last month.
Vodafone in India provides 2G and 3G services
Piraml will sell of its entire 11 per cent stake in Vodafone india.
Sahil Vachani fuels Analjit Singh's new business initiatives
Amid long-pending dispute between the UK-based telecom giant Vodafone and the tax authorities in India, Finance Minister's advisor Parthasarathi Shome on Wednesday said the government should not use retrospective amendment of tax laws to raise revenues.
Experts said many firms had unbilled assets on their books.
The company will spend Rs 10,141 crore to buy 15.5 per cent stake from minority investors.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
Now they are reinventing their strategies to stay afloat, as they see no sign of recovery for at least six months.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
The company has signed deals Mint and digital television network Ping.
Sebi to fix promoters' side deals with PE investors
World's second largest mobile operator Vodafone Plc of UK on Tuesday sought FIPB approval to invest Rs 10,141 crore (Rs 101.41 billion) in raising its stake in the Indian arm to 100 per cent.
The two countries want to broaden and deepen their economic and commercial ties as well as strengthen bilateral national security partnership.
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
Calculated guesses, taking a position on what the future could hold
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
Over the years, Mr Singh has got in and out of innumerable businesses, cutting across sectors. He is one businessman who I have always found to be in a start-up mode, says Bhupesh Bhandari.
The Essar Oil, Rosneft deal also helped Arpwood Capital, boutique investment bank, co-founded by Rajeev Gupta and Raj Kataria, to grab the second spot in the mergers and acquisitions league table.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
In 2013-14, India became the third-largest contributor to Vodafone Group's service revenue and operating free cash flow.
The Cyrus Mistry camp is confident that independent directors will take their cue from their counterparts in Indian Hotels.
Senior living services, Tara Singh Vachani tells Anjuli Bhargava, could be a big business opportunity in India.
Indian fashion, mostly, has been either inexpensive streetwear or wedding wear lacking elegance Varana brings. Kishore Singh drops by the brand's flagship store on London's iconic Dover Street.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
Back in time, one of Gandhi's co-travellers, too, sat through the day at the Central station at Madras watching passengers pay bribes to procure their tickets.
Ranbaxy did its maiden public issue in 1973.
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