India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
As many as 14 Indian families have made it to the inaugural list of Forbes' 50 richest families in Asia.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Prime Minister Narendra Modi has been ranked as the world's ninth most powerful person by Forbes magazine in a 2015 list which is topped by Russian President Vladimir Putin.
Vishal Kampani has big shoes to fill as his father is close to the Ambanis, the Wadias and the Ruias, says Dev Chatterjee.
Gautam Adani, India's and Asia's second-richest person, added $49 billion to his wealth last year - more than the net addition of wealth by the top three global billionaires Elon Musk, Jeff Bezos and Bernard Arnault, the 2022 M3M Hurun Global Rich List said on Wednesday. Mukesh Ambani, who runs the oil-to-retail conglomerate Reliance Industries, continues to be the richest Indian with a wealth of $103 billion, a 24 per cent rise year-on-year. Adani, the head of ports-to-energy conglomerate Adani Group, is a close second with his wealth surging 153 per cent to $81 billion.
Lakshmi N Mittal, Chairman and CEO, of the LNM Group, has bought a central London house for a stunning price of £70 million ($128.25 million or about Rs 560 crore).
New book claims Amar Singh gave between 20 and 100 per cent of his entire net worth to the Clinton Foundation.
Few top honchos of India Inc did very well in 2014.
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