But other allegations against Jain, Deutsche Bank still being evaluated by the regulator
The levy of retrospective tax on the UK's Cairn Energy Plc is a tale of bizarre twists and turns that saw its attached shares being sold in May 2018 amid the passing of the baton from a full-time finance minister to interim one and the talks at the highest level to resolve the dispute, to claims that levy of back taxes was a result of an investigation into Panama Papers leak. The government late last month refunded about Rs 7,900 crore it had collected from selling residual shares of the British firm in its erstwhile India unit, seizing dividend and withholding tax refunds, to settle an eight-year-old dispute that had tarred the country's reputation as an investment destination. But, this did not come about easily. For seven years, the establishment vehemently justified in courts and outside seeking of Rs 10,247 crore in back taxes plus interest and penalty from a firm that gave India its biggest onshore oil discovery.
Senior international Olympics official John Coates said on Saturday the delayed Tokyo Olympics could end up being the greatest Games ever, coming next year as the world emerges from COVID-19 crisis. Coates, Australia's Olympic chief and head of the International Olympic Committee's inspectorate for the Games, cited the examples of positive Summer Games that followed the two world wars of the 20th century. The Tokyo Games were postponed for a year to 2021 in the aftermath of the new coronavirus outbreak.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
Britain's vote to leave the European Union means uncertainty for markets and companies as London initiates at least two years of negotiations with the EU.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
News of all that's transpired on and off the football field
Canada and Australia said they would not be sending athletes to the Tokyo Olympics if the Games went ahead as scheduled in July and August this year because of the coronavirus pandemic. Here is a list of previous cancellations, boycotts and changes of venues of the Summer and Winter games.
The finance minister is ready to present a second financial package. The Centre has ruled out a mega stimulus and will rely on targeted, incremental packages. Industry is clamouring for a bailout, the liquidity upheaval in capital markets is nowhere close to being sorted out, and all budgetary forecasts now stand irrelevant, reports Arup Roychoudhury.
The 93-year-old British monarch and Head of the 54-member Commonwealth of nations which includes India, acknowledged the grief, pain and financial difficulties being faced the world over during this "time of disruption" and expressed the hope that the whole world was uniting in a 'common endeavour'.
The 49-year-old jeweller, fighting extradition to India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, has made around six previous attempts at bail at the magistrates' court as well as at the high court level.
Amid continuing uncertainty over the fate of the national carrier, an official said there is also need for funds to restart operations of 12 grounded narrow-body planes.
'There is an unsaid bond between Ranveer and me.' 'We just have to look at each other to know if something is not working.'
Sanjay Kapoor elected AICF President, Chauhan retains secretary's post.
'More and more young chefs, instead of inventing new things, are exploring more deeply inside India,' Indian Accent's Manish Mehrotra tells Rahul Jacob.
He has been lodged at Wandsworth prison in south-west London since his arrest in March in connection with the nearly $2 billion Punjab National Bank fraud and money laundering case.
In the start-up world, hitting the $1-billion mark, which accords the "Unicorn" tag, is a milestone. Enterprises typically reach the milestone only by series C or series D, or three to four funding rounds later. Zeta achieved it at the first one. On May 25, the six-year-old banking tech firm raised $250 million from Japanese conglomerate SoftBank, at a post-money valuation of $1.45 billion. "This is the first time we have raised institutional money," Zeta co-founder Bhavin Turakhia beamed on the conference call. This trajectory is uncommon in start-ups.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
Official sources said the investigating officer of the case put across to him at least half-a-dozen statements of his alleged aides which form a purported "link" between him, absconding arms dealer Sanjay Bhandari, Bhandari's associates and others.
'The panel will provide a forum for players to provide their input and have their say on how the tour is run and will be a further opportunity for the ITF to engage with the player community'
With no Champions League football for a third straight season, the financial realities are starting to bite and Arsenal will be desperate for some of their talented youngsters to come through.
HDFC Chairman said a rock-bottom level of investment cycle in the country has indeed taken a toll on banking sector.
Chelsea have signed Germany's highly-rated attacking midfielder Kai Havertz from Bundesliga side Bayer Leverkusen on a five-year contract, the Premier League club announced on Friday.
How Shibani Bhagat plans to rewrite the rules of the Indian sneaker business.
A consortium of Indian banks led by the State Bank of India (SBI) returned to the High Court in London for a bankruptcy application hearing against liquor tycoon Vijay Mallya, as they pursue the recovery of debt from loans paid out to his now-defunct Kingfisher Airlines. At a virtual hearing before Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs on Friday, both sides deposed retired Indian Supreme Court justices as expert witnesses on Indian law in support of their arguments for and against a bankruptcy order against Mallya in the UK. While the banks argued a right to waive their security over the Indian assets involved in the case in order to recover their debt in the UK, lawyers for the 65-year-old businessman argued that the funds in question involved public money held by state-owned banks in India which precluded them from such a security waiver.
The Quorum in Mumbai aims to introduce and extend its blend of hospitality and philosophy of being community-led, content-driven, design-focused and experiential.
Premier League Chelsea have moved into profit for the first time since Russian Roman Abramovich bought the soccer club in 2003, reporting a small surplus after winning the Champions League.
News of all that's transpired on and off the football field.
Lamine Diack, the former head of athletics' governing body, arrived in court in Paris on Monday to stand trial on charges of corruption, money laundering and breach of trust linked to a Russian doping scandal. Prosecutors allege he solicited 3.45 million euros ($3.9 million) from athletes suspected of doping to cover up the allegations and allow them to continue competing, including in the 2012 London Olympics.
Harry, 35, was said to be desperate to be reunited with Archie, whom he had not seen for two weeks, and his 38-year-old American actress wife in Canada that the young family plans to make their home.
The UK and Canadian governments are among those being consulted by royal aides to work out a solution after Harry and Meghan, the Duke and Duchess of Sussex, announced their decision to step back as senior royals and assume more financially independent roles while dividing their time between Britain and North America.
Atanu Biswas explains the economics behind hosting a Games in pandemic times.
Ahead of PM Modi's maiden visit to the UK, the British media today said "troubles at home" after the BJP's drubbing in the Bihar elections will overshadow his visit.
News of all that's transpired on and off the football field
Amit Panghal holds the numero uno position with 420 points, according to the list released by the International Olympic Committee's (IOC) Boxing Task Force
A total of 254 millionaires from India have used the so-called "golden visa" to settle down in the UK through a large investment into the country since the route opened in 2008, according to a new report released by a UK-based anti-corruption charity on Monday. Spotlight on Corruption said that Indians ranked as the seventh nationality of super-rich to have availed of the Tier 1 (Investor) Visa, adding up to 254 between 2008 and 2020. China topped the list at 4,106, followed by Russia (2,526), Hong Kong (692), the United States (685), Pakistan (283) and Kazakhstan (278) ahead of India.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
Mental health and life coach Anu Krishna tells you how to take control of your life.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
