Lawyers said that assets are being sold and the group is depositing the money with Sebi.
After India scrapped its Rs 3,600 crore deal for supplying VVIP choppers, Anglo-Italian firm AgustaWestland on Friday said that the contract termination notice sent to it does not offer any firm basis for taking any action against it.
The income tax (IT) department seems to have quietly thrown a spanner in the works on the Securities and Exchange board of India (Sebi)'s two-year-long efforts to implement the Supreme Court order against the two Sahara group firms Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Invest Corporation (SHICL).
The Supreme Court on Friday reserved its order on interim bail plea of Sahara Chief Subrata Roy who pleaded to the court to show 'raham' (mercy) and allow him to come out of jail to sell off his properties to deposit Rs 10,000 crore (Rs 100 billion) with SEBI as directed to get regular bail.
Whilst substantive public allocations have been made in the infrastructure sector, this strategy is plateauing due to the fiscal deficit constraint, capacity limitation of statal implementing agencies, the declining ability of PSUs, and the precarious situation of the Railways' operating ratio. It is, thus, high time to get the policy compass to point at rejuvenating private sector investments in infrastructure, says Vinayak Chatterjee.
Sparks flew in the Rajya Sabha on Wednesday after BJP leader Subramanian Swamy dragged Sonia Gandhi's name in the AgustaWestland helicopter bribery case
Bharti Airtel, Vodafone, Reliance Jio Infocomm and five other telecom firms will battle it out at the spectrum auction tomorrow, from which the government expects to garner at least Rs 11,300 crore (Rs 113 billion).
Senior advocate S Ganesh, appearing for Roy, submitted that it may not feasible for the group to dispose of its Indian properties as the real estate prices have crashed down since June this year.
Against varying claims its SGF ranged from Rs 839 crore (Rs 8.39 billion) to Rs 62 crore (Rs 620 million), between July 29 and August 14, the bourse had Rs 84.66 lakh (Rs 8.46 million) in the actual SGF.
A 'communication dated May 6, 2014 received from Justice J S Khehar was placed before the Chief Justice of India on May 7.
Writer-director Jeethu Joseph has now been accused by filmmaker Satish Paul of plagiarising his novel, Oru Mazhakkalathu.
It refuted the allegations that its three-day mega event had damaged Yamuna floodplains and hinted that it may approach the Supreme Court against the NGT's order which asked it to pay Rs 5 crore as compensation.
Cabinet may tweak Rangarajan formula; new price may be further delayed.
Nokia suffered a jolt on Friday when the Supreme Court refused to lift the restraint on sale of its Indian assets, including the Chennai plant, as part of the handset maker's global deal with the Microsoft.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
A bench headed by Justice T S Thakur asked Delhi government to issue notification by August 4 for converting the conference room into jail which can be used by Roy and two jailed directors of Sahara for 10 working days from 06:00 AM to 08:00 PM for holding negotiations with prospective buyers of hotels in New York and London.
The permission came after the court was satisfied that the transactions were in accordance with its June 4 order.
'This man has aged, but does not know the difference between words spoken on the streets from those of spoken in Parliament.' 'He does not allow his hair to turn gray, so he hasn't learned or matured.' Rashme Sehgal reports on how Subramanian Swamy has riled the Congress yet again.
'I feel that since they know the problems, in the next 2 to 3 quarters, these problems could be resolved.' 'But they should realise that things are not working well right now.'demonetisation did not have a huge negative impact on the economy. But when it comes to GST, those who are looking for loopholes find it difficult to adapt.
The parent entity, (Holdings) Ltd, have also expressed concern over the company's significant exposure to the airline.
The Prime Minister's Office has made clear Modi's wishes that the reception planned for him at New York's famed Madison Square Garden should not carry the imprimatur of any community organisation, but be under the auspices of a 'Reception Committee for the Prime Minister of India.' Aziz Haniffa/Rediff.com reports.
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