'The failures of private businessmen have set back the process of market-oriented reform, though that is the only way forward,' argues T N Ninan.
It was unclear how bankers were deciding which jewellers to support
As the death toll in the country from coronavirus jumped by a record 445 to 13,699, the Centre maintained that the number of infections per lakh population was among the lowest in the world. The new cases surged by over 10,000 for the 11th day in a row and rose by 14,821 to take the total to 4,25,282, according to health ministry data.
Cruise ship Diamond Princess, carrying 3,711 people, arrived at the Japanese coast early last week and was quarantined after a passenger who de-boarded last month in Hong Kong was found to be the carrier of the novel virus on the ship. Around 60 people tested positive of the virus on Monday, taking the total number of those infected on the ship to 130.
The figure, mentioned in his affidavit filed along with the nomination papers, is over five times the assets of his parents, which as per MP CM Nath's affidavit stood at over Rs 124 crore.
Vikram Kothari took a loan of Rs 485 crore from Mumbai-based Union Bank of India and a loan of Rs 352 crore from Kolkata-based Allahabad Bank. A year later, Kothari has reportedly not paid back either the interest or the loan.
Mired in corruption, politics and with a history of suicides by its hapless depositors, PMC Bank's revival is a challenge very different from Yes Bank and LVB, both for the regulator and the rescuer, observes Tamal Bandyopadhyay.
'Does a thousand-year-old sculpture worshipped in a thriving religion belong to a foreign museum or the temple from which it was extracted?' Congress MP Shashi Tharoor asked angrily. 'They legitimately belonged to India and people of past, present and future generations are interested in re-possessing them,' a central information commissioner declared last month.
The period of assessment of these defaulters range from 1989-90 to 2013-14.
Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
According to the RTI reply, absconding diamantaire Choksi's company Gitanjali Gems tops the list of the defaulters with a whopping amount of Rs 5,492 crore. This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore. Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev's Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies to default on the payment. Mallya's Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
The two countries also asked all nations to stop cross-border movement of terrorists and asserted that a decisive collective response from the international community without 'double standards and selectivity' was required to combat the threat of terrorism.
A new XUV, a new logo, and a big bang at the launch! Mahindra revealed its keenly-awaited XUV700 in Chennai on Saturday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The cruise ship Diamond Princess with 3,711 people on board arrived at the Japanese coast early last week and was quarantined after a passenger who de-boarded last month in Hong Kong was found to be the carrier of the novel virus on the ship.
The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Pradip Burman belongs to one of India's most illustrious business families, one which runs the noted Dabur brand of mostly Ayurveda-based FMCG products.
"He is expected to be produced before the court for a second bail application hearing on March 29," a court official in London confirmed on Tuesday.
The officials said her statement was also recorded under the Prevention of Money Laundering Act.
It was only an exterior launch, not the actual car, but what he saw left Rediff.com's Rajesh Karkera hugely impressed.
The ED had recently conducted raids against her and her husband in connection with a Rs 8,000 crore money laundering case.
Lalu's daughter was grilled by the ED on Tuesday for about eight hours.
'She had indeed grown to full womanhood and was in reality more beautiful than I thought she was.'
Despite the rating agency CARE withdrawing the ratings assigned to the bank facilities of FIPL "with immediate effect" following the receipt of a no-objection certificate (NOC) from the banks, Modi's company received uninterrupted letters of undertaking (LoUs) from PNB, which were honoured by other banks until a few weeks ago.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
It has always been accepted in various apex court rulings that economic policy is not justiciable. It can intervene only if the legislation is seen to violate fundamental rights says Sukumar Mukhopadhyay.
All India Anna Dravida Munnetra Kazhagam chief J Jayalalithaa could not "satisfactorily account" for immovable properties and pecuniary resources of the value of Rs 53.6 crore when she was the Chief Minister from 1991 to 1996, the Special Court that sentenced her to four years in jail has held.
Honda Motorcycle and Scooter India (HMSI) Ltd. has finally launched the new 110cc commuter bike Livo at an introductory price of Rs 58,000 (on-road) in the country.
"Nobody should be buying a stock at a rate higher than its intrinsic (actual) value, because then you are looking at the greater fool theory to come into play -- that someone would buy it again from you enabling you to make a profit." Excerpt of his views on value investing.
Oppo's FDI application approved for single-brand retail trading
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
'Under Modi Ji's 'Jan Dhan Loot Yojana', another scam!' he tweeted.
SBI-led consortium of 17 banks had a total exposure of about Rs 6,500 cr to Kingfisher Airlines.
In a case smacking of religious discrimination, a young MBA graduate was denied employment in a diamond export company in Mumbai for being a Muslim, prompting the police to register a case after the issue drew widespread condemnation.
