Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect $1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. "Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders.
Rediff reader Heera Nawaz, 59, from Bengaluru, Karnataka tells us about her first job and salary:
In a statement, Rosen Law Firm said it is investigating potential securities claims on behalf of shareholders of Infosys resulting from allegations that the company may have issued materially misleading business information to the investing public.
'I am most excited about a new video production solution for large organisations -- think Fortune 500 companies -- that have distributed teams, many of which are based in India.'
Consumers can expect a 5G launch in the country soon. Telecom companies (telcos) say if auctions take place on time - the target is July - they would be able to offer some services in a few cities by the end of this year and a full roll-out from 2023. But the question is: will 5G turn the tables for telcos financially? Will average revenue per user (ARPU) improve? Will mobile consumers upgrade to 5G quickly and pay more? Will the expanded functions that 5G enables drum up sufficient revenues? In simple terms, will telcos make more money?
The new entrants are young, enterprising Chinese men and women who want to tap into the promising Indian market.
ShopX offers a wide range of products like clothes, electronics, furniture and services such as direct-to-home and mobile recharges.
It has been also revealed that V G Siddhartha had written a letter to the Board of Directors and employees of Coffee Day Enterprises, saying he had 'failed as an entrepreneur'.
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
The IPO will be sometime in the first half of next year.
With Kona catering for the high-end market, the South Korean automobile conglomerate wants to introduce a product in the EV segment to address the mass segment.
'This plan is basically to allow some of the government assets for rent, and surely not for sale.' 'There is a difference between selling a house and renting out a house.'
'Kids like something when it is interesting, focused, and offers scope for self-exploration.' 'We teach them how to learn, not force them,' Byju Raveendran tells Bibhu Ranjan Mishra.
We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India's farmers, youngsters and entrepreneurs, the PM said.
The Kalrock-Jalan consortium - new owners of Jet Airways - has got an assurance from around 30 airports that if the airline restarts operations, 170 pairs of slots can be made available. However, whether those slots will be according to the airline's demand will depend on the order of the insolvency court, which is slated to come next week. Sources said the new management feels it is extremely important that some of those slots are restored or else its business plan of operating Jet as a premium carrier will not be viable.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
After the case was registered, the CBI carried out searches at four places in the national capital and Bengaluru.
A summary of sports events and sports persons, who made news on Thursday
Ola commits to invest $100 mn in Vogo, to bring scooter-sharing to its app, reports Alnoor Peermohamed.
The Modi leadership could lose Election 2024 if a communal flare-up becomes cause for all-round catastrophe, warns N Sathiya Moorthy.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
In a first for India, bullion derivatives contracts will be settled on a blockchain platform. This will help in global acceptance of gold refined by Indian bullion refineries, giving a fillip to the local industry, exports, as well as investments. From November 1, the National Stock Exchange (NSE) will accept gold delivery only on the blockchain platform.
Analysts remain sceptical on the profitability from freighter business, saying that once normal air transport resumes and there's abundant belly capacity, the traditional economics of air cargo may not be that lucrative.
SoftBank-backed Ola Electric took the wraps off its maiden e-scooter offerings -- Ola S1 and S1 Pro -- for a commercial launch on Sunday. With prices starting from Rs 99,999 (excluding state government incentives, registration fee, and insurance cost), the Bhavesh Aggarwal-founded firm said the e-scooters are designed and engineered in India for the world and will deliver the best scooter experience to the consumer. He suggested that after 2025, sale of petrol-powered two-wheelers should not be allowed.
The Karnataka legislative assembly on Monday passed a unanimous resolution condemning the recent defacing of Shivaji Maharaj and Sangolli Rayanna's statues and burning of Kannada flag, and said such incidents will be considered as an act of sedition and strict action will be taken against those involved under 'Goonda Act.'
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
Seven years ago, Ravishankar Venkateswaran heard a story during a bus ride.
Both the South cities have also beaten the NCR in the number of new launches.
About Rs 8.33 crore cash has been seized from Delhi, Rs 2.5 from Bengaluru and Rs 60 lakh from Mysuru till now, a senior official said.
Last year in January at Amazon's flagship event Smbhav, Infosys Co-founder N R Narayana Murthy had to shorten his keynote speech from 20 minutes to about five because the event was delayed by 1.5 hours. "I will try to finish it in five minutes, because I am not used to delays," said Murthy, while addressing hundreds of micro, small and medium enterprises (MSMEs) about building businesses that last. In the audience was Amazon founder Jeff Bezos. Murthy referred to Bezos' prediction that the 21st century will be the Indian century. "That confidence enhances our enthusiasm," said Murthy. The relationship between Murthy and Bezos dates to 2014, when Prione, a 49:51 joint venture (JV) between Amazon and Murthy's venture capital company Catamaran, was formed.
The finance ministry also said the maximum funding will be Rs 400 crore for any single project that will be seeking assistance from the 'special window' for completion of the 1,508 projects comprising about 4.58 lakh units.
The new online store, which will be launched on September 23, will provide customers with the same premium experience found in Apple Store locations around the world, delivered by online team members who are ready to offer their expertise, Apple said in a statement.
Canada Pension Plan Investment Board has stringent processes and systems, which are proving to be a stumbling block
"Our strategic investments, backed by strong client relationships and client spends towards enterprise modernisation and digital transformation have enabled us to deliver a very satisfying quarter," Wipro CEO and executive director Abidali Z Neemuchwala said.
'Today, 75 per cent of sales come from residences.'
On October 18, the tax department had said searches had led to detection of undisclosed income of more than Rs 500 crore in addition to Rs 93 crore worth seizures, including gold jewellery and diamonds. A revised appraisal of such seizures now pegs its value at Rs 106 crore which includes cash (Rs 45 crore), gold jewellery and diamonds (Rs 41 crore) and foreign currency Rs 20 crore.
Azim Premji, chairman of IT major Wipro, was conferred the highest French civilian honour for his outstanding contribution to developing the information technology industry in India, his economic outreach in France, and his laudable contribution to society as a philanthropist through the Azim Premji Foundation and Azim Premji University
'RCB is a natural choice for us, mainly due to our long-standing association with Virat Kohli.'
If Sachin Bansal sells his stake at a little over 5 per cent and steps down from Flipkart, as reports have suggested recently, either Binny Bansal or Kalyan Krishnamurthy, CEO of Flipkart, could be an option for the leadership position.
