The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
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.
The equity infusion will happen at Rs 505 a unit, which is a premium of nearly 14 per cent over February 4's close of Rs 444.60.
The ED told the apex court that during the investigation it found Chidambaram had 11 'immovable properties' and 17 bank accounts abroad and his custodial interrogation was required to unearth the larger conspiracy in the case.
Chidambaram said it was a 'despicable slur' on the six secretaries of the government.
Expressing his satisfaction over the government's move to slash fiscal deficit target, Das said it will help improve investment by the private sector as crowding out impact will be less.
The Reserve Bank has given an in-principle nod to invest $5 billion of foreign exchange reserves annually in infrastructure projects through two subsidiaries of India Infrastructure Finance Company.India's forex reserves stood at $266.52 billion as on November 2 and experts believe that they should be utilised at least for financing infrastructure projects.
The new norms provide an operational framework for FPIs, a new class of overseas investors that club all existing class of investors like foreign institutional investors and Qualified Foreign Investors.
Against the backdrop of objections by some MPs, Civil Aviation Minister Ajit Singh on Tuesday strongly defended the Rs 2,058 crore (Rs 20.58 billion) Jet-Etihad deal, saying those opposing it were "long on politics and short on facts".
Chidambaram and his son Karti Chidambaram were named in the chargesheet filed by the CBI in the case on July 19.
A landmark climate change deal was clinched on Saturday with the approval of India, China and the US, after days of tough negotiations in Paris.
The move, amid a rise in slippages from restructured assets, is aimed at resolving stress in the banking system.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
This is the largest single dose of equity infusion into the joint venture since its launch in January 2015.
'IPOs not clicking is cause for worry,' says Sebi chairman.
Inching closer to launch its operations, new no-frill carrier AirAsia India on Saturday took delivery of its first Airbus A-320 as it landed in Chennai after flying in from Toulouse headquarters of the European aircraft manufacturer.
The new law would boost home buyer confidence as well as investment in the realty sector.
The brokerage said it has high hopes for recovery and reforms following the general elections.
BSE is world's largest exchange in terms of listed companies and figures among top 10 globally on various other parameters.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
Under the plan, there will be 151 private trains covering 109 routes which may entail investments worth Rs 30,000 crore.
Sensex is trading firm; FMCG, real estate going strong.
No home food for Karti, medicines allowed only on prescription.
Declining urgent hearing, the top court observed that judges have more cases 'than they can handle'.
The regulations will only apply to the share purchases that have been done after October 1, 2004
The Central Bureau of Investigation told the Supreme Court that charge sheet in the controversial Aircel-Maxis deal involving former telecom minister Dayanidhi Maran will be filed shortly as the Attorney General disagreed with the views of its Director Ranjit Sinha to drop the prosecution.
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
Chidambaram, 74, was arrested by the Central Bureau of Investigation on August 21 and is lodged in Tihar jail under judicial custody in the corruption case.
Minority investors of SpiceJet might be feeling cold-shouldered.
A PhD from Chicago-Booth and a top-ranking IIT-IIM alumnus, Krishnamurthy Subramanian is one of the world's leading experts in banking, corporate governance and economic policy
The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12 per cent
The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
The spokesperson in the Ministry of External Affairs said diplomats deal with a variety of issues and it was normal for them to collect information, assess them and send report to the government back home.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
Work on a dozen decisions to start by next week.
Sitharaman further said that to mitigate genuine difficulties of start-ups and their investors, government has decided to withdraw angel tax provisions for them.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
Stocks of SpiceJet on Friday surged nearly 10 per cent after the company returned to original promoter Ajay Singh for its revival in a multi-layered deal worth up to Rs 1,500 crore (Rs 15 billion).
The Congress has reasons to enjoy the BJP's discomfiture. After all, the Insurance Bill was introduced by the UPA government in 2008 but was constantly blocked by the BJP on some pretext or the other which was then in the Opposition.
