The arguments were made by the government before the CLB, which is considering a petition by the government for removal of the board of Maytas Properties. The CLB is likely to pass the order later. The government also alleged that the valuation of Maytas Properties by the consultancy firm was done in a day.
Maytas Properties, which has a turnover of a mere Rs 22 crore (Rs 220 million) and does not own any land, was valued at Rs 6,523 crore (Rs 65.23 billion) by audit firm Ernst &Young and the valuation was done in a day, the counsel said.
The jury members included Ashish Dhawan, senior managing director, ChrysCapital, Keki Dadiseth, managing director, Omnicom, Kiran Mazumdar Shaw, chairman and managing director, Biocon, Kumar Mangalam Birla, chairman and managing director, Aditya Birla Group and S Ramadorai, chief executive, TCS.
India's burgeoning entertainment industry loses as much as $ 4 billion and 800,000 direct jobs each year due to counterfeiting and piracy, a latest study says. The study -- The effects of counterfeiting & piracy on India's entertainment industry -- was prepared by Ernst & Young India. It was commissioned as part of the USIBC-FICCI Bollywood-Hollywood Initiative, which promotes the sustainable growth & convergence underway between the entertainment industries of the US & India
Anil Ambani-promoted Reliance Power (R-Power) has roped in international consultancy firm Ernst & Young (E&Y) to upgrade its Sasan ultra-mega power project (UMPP) in Madhya Pradesh to conform to the norms for receiving carbon credits.
Indian companies, many of which have been acquiring overseas entities, suffer from taxation planning as part of the deals, said accountancy and consultancy firm Ernst & Young
Riding on its high quality of life, transporatation infrastructure and overall labour force contributing to its economic growth, Delhi has emerged on top among 48 Indian cities, including Mumbai, as the best place to reside. Send us your views.
Despite a steady trickle of patients throughout the night of November 26 the staff of Bombay Hospital did a great job of saving precious lives.
Exercise at least 45 minutes every day -- brisk walking, running, cycling or any other form of physical activity is beneficial, says Dr Naresh Trehan.
'Whether it was a habitual expression of post truth or an open offer to India and Pakistan, even Imran Khan could not have believed it,' says Ambassador T P Sreenivasan.
The White House on Wednesday lifted its longstanding ban on cameras and taking photos on its public tours.
DTH may emerge as the leader among the digital platforms in the next three years, said an Ernst & Young report - "India Digital Revolution: Impact on Film & Television" - released at the Assocham global summit on the media and entertainment industry in New Delhi. The report expects India's television advertising market to grow by 14 per cent annually for the next three years.
As 2018 draws to a close and the white noise of 24-hour news cycles and Twitter storms fade into the background, it is already clear that history will remember only a handful of those people, each of whom has taught us something about ourselves and the rapidly changing world in which we live.
United States President Barack Obama said goodbye to his nation in an emotional address enriched with wisdom and optimism.
Franz Giovanni, Mario Zignotti, Richmond and Ascot. Foreign brands for menswear? Not really. You could pick up these designer clothes from a Westside or a Shopper's Stop. At affordable prices too. It's not only for apparel that retailers creating their own lines; whether its for air fresheners or 'atta', they're putting out their own brands.
Indian real estate developers, enjoying boom times, want your capital.
Sebi hopes to allow investors to hold subscription amounts for initial public offerings in their bank accounts until allotment. This is to cut the time between the stock sale and listing. Sebi chief said with the present technology it is possible to earmark the amount in the investor account itself and not have the money actually transferred. He said that there were a host of issues plaguing the IPO market and that it could see some action in the coming months.
With major predictions of a deceleration in domestic air traffic, airlines are lowering seat capacity by reducing the number of flights or dropping fares in order to fill up their seats. They have also begun the process of reducing the number of aircraft that they were planning to to induct in their fleet as part of their expansion plans. Management consultancy firm Ernst & Young recently estimated that domestic traffic would grow by 24.16 per cent this year
The report, which took into consideration 57 parameters before arriving at the conclusion, said between Delhi and Greater Mumbai, the national capital takes the lead on city prosperity index due to its lower population and higher per capita income.
The US president made the remarks during his meeting with Pakistani Prime Minister Imran Khan on the sidelines of the United Nations General Assembly session in New York.
Top financial professionals of India Inc are keen on converging to global accounting norms and want the present ones to be aligned with either the International Financial Reporting Standards or the US GAAP.
'If Trump is out, Modi is going to find himself in a hotspot, having to reset his relations with the new US President with whom he will have to co-exist for well-nigh his full term,' notes B S Raghavan, the distinguished civil servant.
Italy beat Portugal 3-1 on a night of friendly matches between Euro 2008 rivals that left tournament co-hosts Switzerland and Austria among the losers.
Three second-half goals helped Spain reach the European Championship final for the first time in 24 years, setting up a meeting with Germany in Sunday's decider.
The study was commissioned by the Forum of Indian Regulators -- a body which is open to all regulators but currently dominated by power regulators.
Private equity investors are in talks with the Wadias for acquiring minority stake in GoAir.
Indian bourses saw over $8 billion worth of initial public offers in 2007, but this is just a shade higher than the world's single-largest IPO that was brought by a Russian company.
US President Donald Trump triumphantly greeted supporters at the first of the three inaugural balls, joining his First Lady on stage to tell them: 'We did it."
Ahead of the G-20 summit in Osaka this week, Xi has reasserted China's role as a global player, points out Dr Rajaram Panda.
India has been rated as the second most largest foreign investor in the UK by consultancy firm Ernst and Young, acknowledging India Inc's growing competitiveness and willingness to take up global challenges.
The Corus Dutch Central Works Council (CWC), an advisory body established to promote the interest of Corus Nederland and its workforce, has appointed Ernst & Young to examine the future financial implications of Tata Steel's acquisition of Corus.
Iran-Pakistan-India gas pipeline project has been found technically possible but its economic viability will depend on the price at which Tehran sells the fuel, said Minister of State for Petroleum and Natural Gas Dinsha Patel.
The over $7 billion Iran- Pakistan-India gas pipeline project has been found to be technically feasible but its economic viability will depend on the price at which Tehran sells the fuel, the Centre said on Tuesday.
Sources close to the development said the chairmen of both banks would meet shortly, after which the matter would be taken up by the respective boards and employees would be consulted.
Indian start-ups are likely to experience a fillip as around 40 US venture capitalists and private equity holders have already lined up $400 million to invest in the country.
Spicer will continue to be in his position through August.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
Sipika Singh switched careers from being a senior consultant with Ernst and Young to a regional marketing role in the pharma major, Novartis in Singapore.
"We want to see it just stop. We are very much involved in that (process)," Trump told reporters at the Oval Office.
The carrier, which is owned and promoted by Jeh Wadia, has been valued at $314-400 million by private equity investors. At 28 per cent, the value of the proposed investment is expected to be $88-112 million.
