'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Additional Solicitor General SV Raju, representing the two probe agencies, told a bench of Justices Sanjiv Khanna and SVN Bhatti he has instructions to state that the agencies are considering making AAP an accused, invoking legal provisions on "vicarious liability" under the anti-corruption law and section 70 of the Prevention of Money Laundering Act.
The Delhi high court on Thursday refused to grant Chief Minister Arvind Kejriwal any protection from coercive action in an excise policy-linked money laundering case.
The Delhi high court on Wednesday refused to grant interim relief to Chief Minister Arvind Kejriwal, arrested by the Enforcement Directorate (ED) in a money laundering case linked to the excise policy 'scam', saying the matter raises important issues that cannot be 'summarily' decided without seeking the agency's stand.
The Rs 500 crore cap in the event of an accident, proposed in the controversial nuclear liability bill, could be raised as part of government's efforts to address concerns of the opposition over the issue. Indications to this effect were given by government officials at a meeting of the Parliamentary Standing Committee on Science and Technology and Environment on Tuesady.
23-year-old MBA student-cum-entrepreneur Sidharth Nambiar discusses how he manages both studies and business.
The passing of the nuclear liability bill will be a political and diplomatic victory for Prime Minister Manmohan Singh at a time when he is being seen as getting weaker and his government is drifting on all major national challenges like price rise, Kashmir and Naxalism.
The scarcity of resources is particularly evident in the case of Rajasthan compared to many other states.
Weakness in HDFC Bank's net interest margin (NIM) might have bottomed out in the July-September quarter (Q2-FY24), analysts said on Tuesday, as most of the merger-related one-time adjustments have been done. The bank, they believe, should be able to grow from here on, allowing the stock to reverse its underperformance. "The weak NIM print was not unexpected given the merger and regulatory impact caused by the incremental cash reserve ratio (ICRR; 5-10 bps for the quarter).
Anamika Pareek explains the advantages of investing in tax-saving options like the equity-linked savings schemes.
Bharti Airtel on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter, mainly on account of growth in high value customers. Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023. Bharti Airtel managing director Gopal Vittal has indicated a need for further increase in mobile services rates.
India's largest PSU bank, State Bank of India, delivered excellent results, once the impact of a big jump in employee expenses was adjusted for. The net interest income (NII) beat the Street due to a better net interest margin (NIM) and good loan growth. The credit growth at 5.2 per cent quarter-on-quarter (Q-o-Q) (15 per cent year on year) was excellent for a large bank.
United States has said it is looking at India to see what changes can be made in certain provisions in the Nuclear Liability Bill, which was recently passed by the Parliament.
'The barbell strategy says that the best way to strike a balance between risk and reward is to invest at the extremes of the risk spectrum.'
Years before the Supreme Court struck down as 'unconstitutional' an opaque political funding tool that allowed individuals and companies to donate money to political parties anonymously and without any limits, the then finance minister Arun Jaitley -- the prime mover of electoral bonds -- had termed them legitimate and transparent.
NPC director Jagdeep Ghai told reporters on Monday, "NPC, in the wake of passage of the civil nuclear liability bill, will set up a corpus of Rs 1,500 crore to provide financial security, from its cash reserve of Rs 12,000 crore (Rs 120 billion).
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Science and Technology Minister Prithviraj Chavan, who is in-charge of Department of Atomic Energy, said the country lacks a law under which compensation could be awarded in the case of a nuclear accident.
After the latest rout, the American depositary receipt (ADR) premium of HDFC Bank to its local shares has shrunk to nearly zero. Shares of HDFC Bank on Thursday fell 3.1 per cent to Rs 1,490, extending its two-day decline to 11 per cent. Meanwhile, the ADR has slumped over 15 per cent in the past two trading sessions.
You can reduce your tax burden by wisely using partially taxable allowances, suggests Bindisha Sarang.
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
The one message that the Congress party wants the Prime Minister's Office to take heed of, following the tumultuous first phase of this year's Budget session, is that the PMO should be more helpful in facilitating political management for the party.Despite the government bending over backwards to explain that the Civil Liability for Nuclear Damages bill was a mandatory legislation -- no matter which country India wanted to engage with in is unconvinced.
The government will acquire a stake in debt-ridden Vodafone Idea after the stock price of the company stabilises at Rs 10 or above, according to an official source. Vodafone Idea (VIL) board has offered a stake to the government at a par value of Rs 10 per share. "There is a SEBI norm that the acquisition should take place at par value. DoT will clear the acquisition after VIL shares stabilise at Rs 10 or above," an official source told PTI. VIL shares are trading below Rs 10 since April 19.
'The stabilisation of interest rates followed by reduction is going to happen over the next year.'
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Salaried persons whose liability is fully deducted as tax deducted at source by their employer need not worry about advance tax payments, unless they have other sources of taxable income.
HDFC Bank has reshuffled the portfolios of its senior management team. This is the first major rejig after the amalgamation of HDFC Ltd on July 1. "The runway for our growth is large. This change is being done to bring in a very sharp focus on leveraging what we have built and for enhanced execution," said Sashidhar Jagdishan, managing director and chief executive of HDFC Bank, explaining the reason for this overhaul.
'It is important to understand that the disability is not in the person.' 'The problem lies in societal attitude and the discriminatory treatment given to disabled people in our country.'
Fair-trade regulator Competition Commission of India (CCI) on Thursday cleared the proposed merger of Credit Suisse Group AG with UBS Group AG. Both Credit Suisse Group AG (Credit Suisse) and UBS Group AG (UBS) are multinational investment banks and financial services companies founded and based in Switzerland.
Despite a largely stable December quarter, investors booked profit in shares of IndusInd Bank (IIB) as an increase in slippages took them by surprise. Analysts, on their part, believe investors may, now, wait for actual delivery on slippage decline, potentially limiting near-term upside. "The management has indicated that corporate slippages (from legacy stressed book) have ended and inch up in consumer finance slippages was more one-off, and should meaningfully improve Q4FY24 onwards.
SBI Q3FY24 result review: A higher-than-factored weakness in the October-to-December quarter (Q3) results of State Bank of India (SBI), for financial year 2023-24 (FY24), has prompted brokerages to cut earnings estimates for the ongoing financial year. They, however, have maintained 'Buy' ratings on the stock, revising target price upwards in some cases, owing to the stock's recent underperformance relative to its peers.
'You cannot have only one product or one market or one customer segment.'
The banking regulator was uncomfortable with the runaway pace at which consumer credit was growing.
Cash-strapped edtech firm Byju's' parent company said on Monday it will raise $200 million by way of a rights issue to all its equity shareholders, aiming to support growth and achieve operational sustainability. The proposed rights issuance by Think and Learn Private Limited (TLPL) will fund capital expenditure and support general corporate purposes. As the largest shareholders, the founders of Byju's have personally invested more than $1.1 billion in the company in the last 18 months.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Co-lending deals between non-banking financial companies (NBFCs) and banks are likely to rise after the Reserve Bank of India's (RBI's) decision to increase the risk weight on consumer credit, industry leaders and experts say. Smaller NBFCs, they add, may increasingly opt for co-lending as capital markets could become costlier for them. "Smaller NBFCs will be more comfortable with co-lending because they are geography-specific in terms of industry or customers.
Ahead of Friday's extraordinary general meeting (EGM), Byju Raveendran, chief executive officer (CEO) of Byju's, told shareholders that he is committed to restructuring the board of the embattled educational technology (edtech) firm. He also committed to appointing two non-executive directors to the board by the mutual consent of the founder and shareholders. The development comes at a time when a consortium of key shareholders, holding over 30 per cent stake in Byju's, issued a notice to the embattled edtech firm this month, calling for an EGM to address "persistent issues", including a proposed change of management at the firm.
