With India locked in a face-off with the United States over the arrest of senior diplomat Devyani Khobragade, Chief Justice of India P Sathasivam on Thursday said such things should not happen to high-level officials.
In further retaliatory steps over the arrest of diplomat Devyani Khobragade, India has asked the United States to "discontinue" commercial activities being undertaken from its embassy premises in New Delhi by January 16.
Indian diplomat Devyani Khobragade has been exempted by a United States court from appearing in person for pre-trial processes in the case filed against her on visa fraud charges, her lawyer said on Monday.
The case of Devyani Khobragade, a top Indian diplomat accused of fraud by her domestic help, is the third instance where maids working for diplomats at the Indian consulate General in New York have complained against their employers.
It may be a little early to cheer the recovery in the fast-moving consumer goods (FMCG) space as a deceleration in discretionary demand, after the festival season, may offset fragile rural recovery, analysts have cautioned. "The overall demand environment for staples remains muted, while discretionary demand trends have seen some deceleration after the festival season. "We believe margins in staples have bottomed out, but we expect only a gradual uptick with the ongoing softening in raw material prices.
'This incident offers ammunition to those inside the US government and elsewhere who question the wisdom of trusting India, so it will have a lasting consequence no matter how it is managed.'
Indian diplomat Devyani Khobragade's status as a "Special Advisor" to the UN entitled her to diplomatic immunity from prosecution at the time of her arrest last year on visa fraud charges, according to a letter from the United Nations.
Notwithstanding the inflation pinch, analysts believe the Indian retail sector is on the 'cusp of accelerated earnings growth' as consumer sentiment and discretionary purchases bounce back from the Covid-19 pandemic. "The shift in consumer preference from the unorganised sector to the organised, coupled with uptick in domestic demand as people resume work from office, will cheer the Indian retail sector," says Nishit Master, portfolio manager, Axis Securities. Shopping malls are witnessing increased footfall in lower tier towns and standalone stores as consumption picks up and mobility improves.
Retail investors-those investing up to Rs 200,000-lapped up all the four initial public offerings (IPOs) that opened for subscription on Wednesday. This is the first time since 2007 that four IPOs have been launched on a single day, according to information provided by Prime Database. KFC and Pizza Hut franchisee Devyani International (size Rs 1,838 crore); Diagnostic chains Krsnaa Diagnostics (Rs 1,213 crore), pharmaceutical firm Windlas Biotech (Rs 401 crore) and vitrified tiles manufacturer Exxaro Tiles (Rs 161 crore) are the four companies whose IPOs opened on Wednesday.
The youngsters in Mismatched look like angels. There are no bullies, no mean girl cliques -- they are all a mostly cheerful, helpful, clean-cut lot, for whom kissing and mild swearing is about as naughty as they dare, observes Deepa Gahlot. Mismatched Season 2 Review
Lara Dutta nails her character's daunting temperament, Soha Ali Khan's sophistication is tailor-made for the part, Anya Singh conveys a tidy blend of shy and spirit, but it's Kritika Kamra's hilarious Kareena-fication that makes her the life of this willy-nilly game of thrones, observes Sukanya Verma.
Start-ups Zomato, PB Fintech, One97 Communications, and FSN E-Commerce Ventures have entered the large-cap category after the latest reclassification exercise by the Association of Mutual funds in India (Amfi). This comes despite stocks such as PB Fintech (Policybazaar) and One 97 Communication (Paytm) trading below their issue price. Others such as Mindtree, SRF, IRCTC, Tata Power, JSW Energy have been moved from mid-cap to large-cap category.
'We deeply apologise for a post that was published on some KFC social media channels outside the country. We honour and respect India, and remain steadfast in our commitment to serving all Indians with pride,' according to a message on KFC India official account on Twitter.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
This is not the first time IFS officer Devyani Khobragade has found herself under the scanner, says Neeta Kolhatkar.
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
Anand Teltumbde, an accused in the Elgar Parishad Maoist links case, has filed a writ petition in Bombay High Court seeking that a provision under the Unlawful Activities Prevention Act (UAPA) to brand certain groups as a front for banned or terrorist organisations be quashed as it was bad in law.
The bill, named 'Shakti' and modelled on the Disha Act in Andhra Pradesh, also provides for completion of investigation and filing of chargesheet within 15 days, and completion of trial in 30 days.
The Bharatiya Janata Party on Thursday announced the names of candidates for 59 out of 70 seats in Uttarakhand for the upcoming assembly polls.
The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21.
The Indian government is fuming. Many serving and retired diplomats are anguished. The public arrest of Indian Deputy Consul General Devyani Khobragade in New York has triggered an 'unprecedented' chain of events. Sheela Bhatt reports
Of the 59 IPOs for which the data is available, 36 IPOs received mega responses of more than 10x (of which, six IPOs more than 100x), while eight IPOs were oversubscribed more than 3x.
The primary issue market has hit an all-time high with 63 corporates raising Rs 1,18,704 crore through main-board initial public offerings (IPOs) so far in 2021, which is nearly 4.5 times more than the Rs 26,613 crore raised through 15 issues in 2020 and almost double of the previous best of Rs 68,827 crore in 2017, according to a report. Pranav Haldea, managing director of Prime Database Group, said the IPO frenzy was driven by new-age loss-making technology start-ups along with strong retail participation, and the resultant massive listing gains were the key highlights of the year. Another highlight was only 51 per cent or Rs 103,621 crore of the total Rs 202,009 crore was fresh capital raising and the remaining Rs 98,388 crore were offers for sale.
At least five companies looking to raise a cumulative Rs 6,595 crore could launch their initial public offerings (IPOs) next month after a busy August that saw eight IPOs. On Thursday, south-based diagnostic chain Vijaya Diagnostics announced its plans for a Rs 1,895-crore IPO. Ami Organics will announce its plans for a Rs 600-crore issue on Friday.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The agency has booked 23 Army personnel and civilians, including relatives of officers, for allegedly demanding bribe and facilitating bribery, they said.
Devyani Saltzman, director Deepa Mehta's daughter, on the shooting of Water.
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
Initial share sales are set to dazzle the Dalal Street in 2022 too as companies are expected to garner up to Rs 1.5 lakh crore in the New Year, continuing with the bullish momentum after 2021 turned out to be the best IPO year in two decades for the Indian market. Excessive liquidity and increased retail investor participation ensured a persistent euphoria in the Initial Public Offer (IPO) space wherein companies mopped up more than Rs 1.2 lakh crore this year even as pandemic gloom shadowed the broader economy. In 2022, the higher amount of funds through the primary market will be largely driven by the mega IPO of state-owned Life Insurance Corp (LIC).
The Indian Embassy in Washington, DC, went into damage-control mode on Thursday following the arrest of Devyani Khobragade, India's deputy consul general in New York, in connection with an alleged fraudulent visa application for a domestic worker.
The buzz in the IPO market continues with four companies launching their initial share sales this week to raise over Rs 14,628 crore collectively. This comes after four companies -- Devyani International, Krsnaa Diagnostics, Windlas Biotech and Exxaro Tiles-- launched their initial share-sales last week to mobilise Rs 3,614 crore. So far in the current fiscal, 16 companies have raised Rs 30,666 crore through IPOs against Rs 31,277 crore by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire 2021-22.
Hectic fundraising through initial public offerings (IPOs) is expected in October-November, with at least 30 companies are looking to collectively raise over Rs 45,000 crore through initial share-sales, merchant banking sources said. Of the total fundraising, a large chunk would be garnered by technology-driven companies. The successful IPO of food delivery company Zomato, which was overwhelmingly subscribed by over 38 times, encouraged new-age tech companies to come out with their primary share-sales.
'It is my job to resolve the issue, and we are looking at all options,' Foreign Minister Salman Khurshid tells Sheela Bhatt.
Deepa Mehta's daughter Devyani Saltzman speaks to Arthur J Pais about her book and her relationship with her parents.
'The CIA would not need to engage a maid who has no access to any information. They can buy a politician in India for much lesser cost and have more access to information. Trust me, that happens,' Amar Bhushan, former head of R&AW's counter-espionage section, tells Rediff.com's Vicky Nanjappa.
Left workers and others on Thursday held a protest at the US Consulate over the ill-treatment meted out to Indian diplomat Devyani Khobragade in New York.
A modern day prince and princess are getting married in Bengaluru this weekend.
After coming to know that Khobragade's daughters were having US passports, the MEA had revoked the children's Indian passports and they challenged this in the Delhi high court.
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In 10 months, her property value has zoomed almost six times
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