Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
Impact of the slowdown is most visible among promoter/owner-CEOs
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
SBI was the top gainer after it reported lower-than-expected rise in bad loans
Manoj Sinha will retain his current role in the railways.
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
The numbers in India may not be as big but the opportunity for serious growth is all there.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
Tatas, Adani, Bharti, HDFC and Sun Groups have clocked huge gains.
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
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Senior company officials said the funds would be used to expand its financial services business in rural India where the group would be opening more branches.
'Birla only made representations to then PM for coal blocks allocation.'
He congratulated the Uttar Pradesh government and industrialists for their commitment for development.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest real estate deal in the country's financial capital.
According to a senior CBI official, the agency has evidence to suggest the finance ministry's recommendations were overlooked while giving a licence to MCX-SX in 2008.
Those for power sector to see tussle between prior owners & new challengers
A special court on Friday asked the CBI as to what was the "hurry" in filing a closure report in the coal blocks allocation case in which it had earlier lodged an FIR against top industrialist Kumar Mangalam Birla and others.
The scrutiny is expected to be over this month itself.
The plan was activated in October last year.
Noting that farmers are suffering due to problems in the food supply chain, Congress Vice President Rahul Gandhi on Monday said there is a need for ensuring better compensation for the farmers against their produce.
Hindalco has already bagged 4 mines in Jharkhand and Chhattisgarh
Tata Steel, others sell assets abroad after taking massive impairments.
Though Mistry does not make it to the club of the top 10 highest paid India Inc leaders, he will be among the next 10.
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Reliance, Birla Group, Airtel eye small finance banks.
Over Lebanese delicacies, the daughter of billionaire Kumar Mangalam Birla talks money, relationships, her passions and how she outpaced her peers.
Fast cars, marathons, golfing and shooting - nothing stops these high-power tycoons from pursuing their passion.
As India's online population crosses 450 million, e-commerce ventures are trying to grab a pie of online sales estimated to hit $48 billion by 2020.
The Birlas are investing $100 million in the financial services business in fiscal beginning April 1.
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
Transparency is more than welcome, but govt should not look vindictive.
The Central Bureau of Investigation on Tuesday filed a fresh status report in a sealed envelop in the Supreme Court on coal block allocation scam giving details of the ongoing probe in which companies, business tycoons and bureaucrats have come under its scanner.
A change in recommendation in favour of Birla did certainly happen but the question is whether it was a bona fide decision. Jyoti Mukul reports
Global expansion to drive the company's fortunes
An alumnus of IIM-A from the 1983 batch, Nanda was a Robert Braucher Professor of Practice at Harvard Law School and later a Harvard Business School faculty member, before he took charge on September 2, 2013.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
'Right time, right place, right business and I could see I was the right person. It was a now or never moment in a sense. If I didn't do it then, then when? There is little point in entering a business as an entrepreneur when someone else has proven the concept.' BJP leader Yashwant Sinha's son started ReNew Power during the UPA II government to focus on clean energy.
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