The Essar group firm is in talks with 7-10 companies for a "strategic fit", as it races to become a $500 million company by 2010. In some of these cases the due diligence process is in progress. Aegis is looking at firms in the US, South America and the Philippines.
Essar Group's Shashi and Ravi Ruia are the only new entrants in the list of the 10 richest Indians compiled by Forbes, while banker Uday Kotak jumped the most number of places among the top 40 billionaires. The Ruias jumped five places to the 7th position with a net worth of $12 billion, while Kotak with $4.6 billion hopped 11 positions to the 16th rank.
The British Olympic track and field legend shared his expertise on what it takes to be a long distance runner.
The Anil Ambani group's Reliance Infrastructure and Hyderabad-based Lanco Infratech have so far purchased the Request for Qualification applications for taking up the Rs 12,132-crore (Rs 121.32 billion) Hyderabad Metro Rail project.
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
Based on Statista data for 2019, Vodafone has 17.2 million subscribers in the UK, 29.5 million in Germany, and over 13.7 million in Spain. Without Voda Idea, the Group will become smaller than Airtel and Jio.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
The ED, in its chargesheet, had alleged that Rs 200 crore was paid by Swan Telecom (P) Ltd promoters to DMK-run Kalaignar TV.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
The calculation excludes cross-holding of listed group cos in each other.
Ajit Issac started as a management trainee at Godrej.
Vodafone further said it has "always been confident" that no tax is due on the company. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. The rules under the law seek to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets and also refund the amount paid in these cases without any interest. Asked if the company has filed an application with the Indian government to settle the retrospective tax dispute, a Vodafone spokesperson said, "We can confirm we have filed an application".
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
The Rs 31,000-crore refinery and petrochemical plant being planned by Oil and Natural Gas Corporation in Kakinada in Andhra Pradesh is likely to have a new partner -- the Bangalore-based GMR group. GMR is the latest to join the long line of suitors, including the Hinduja group, Reliance Industries and Essar Oil, for the refinery.
Which chief minister sat bare-footed, his feet on his chappals, at the Make In India jamboree as he pitched his state as an attractive investment destination to domestic and global investors?
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
The matter was mentioned before a bench of Delhi high court's acting chief justice Gita Mittal and kustice C Hari Shankar by Additional Solicitor General Tushar Mehta. The court allowed it to be listed for hearing on Wednesday.
Financials were the top losers after sharp gains in the previous session along with ITC
Experts say local demand, government policies in retail and refining sector are attracting foreign players.
As the WEF summit draws to a close on Saturday, a few big names from India including Mukesh Ambani and Anand Mahindra were missing in action while Pakistan Prime Minister Nawaz Sharif and Jordan's King Abdullah II were among global leaders who cancelled their trips at the last moment.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Many top corporate groups hit hard, in penalties and sunk investments, beside loss of future revenue
Prayas Jain has been arrested for allegedly buying secret documents.
The cases under scanner include significant loan exposure of the bank to Videocon way back in 2012 and the alleged involvement of the Kochhar family in restructuring of that loan.
The court said a 'scam was created when there was none'.
Prime Minister Narendra Modi is set to meet top Australian business leaders, including BHP Billiton CEO Andrew Mackenzie and HSBC Bank Australia CEO Tony Cripps, at a roundtable in Melbourne next week.
'It has taken us 15 years to get to where we are. It obviously doesn't happen overnight.'
The Delhi high court on Tuesday allowed the Central Bureau of Investigation and the Enforcement Directorate's pleas seeking an early hearing into the appeals challenging the acquittal of former telecom minister A Raja and others in the 2G spectrum allocation case.
