Rakesh Gangwal's holding is considered FDI even though the majority stake in Caelum is held by NRIs
The Delhi high court directed the Centre and Foreign Investment Promotion Board on Friday to complete within two months, an inquiry into Hong Kong-based Hutchison Telecom allegedly holding more than the permissible 74 per cent stake in Hutch-Essar.
Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account.
Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company's proposed raising of funds worth Rs 14,200 crore. Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday. The telecom operator will seek shareholders' approval for raising up to Rs 14,500 crore as well as increase its authorised share capital to Rs 75,000 crore at its the Extraordinary General Meeting (EGM) to be held on March 26.
In what could be a major boost to the ensuing public offer for sale of 10% equity in ONGC, Sebi has permitted lead managers and book runners to issue participatory notes for attracting foreign investment.
A shorter tournament will mean a smaller share from the shrunken central pool of revenues for the eight IPL franchises, not to mention a reduction in gate receipts. Cricket Australia stands to lose some A$300 million ($174 million) should the coronavirus outbreak derail their high-profile home test series against India later this year.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
In 2020-2021, the amount of foreign direct investment into India from China and Hong Kong plummeted to just $200 million -- its lowest in the recent past. In the first half of 2021-2022, FDI investments through these two nations stood at just $36 million.
The bench of Chief Justice N V Ramana and Justice Pradeep Nandrajog issued notices to the Centre, Foreign Investment Promotion Board and Commerce and Civil Aviation ministries and sought their responses by October 30.
The Union Cabinet on Wednesday gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
The government on Monday proposed to increase foreign direct investment limit in the insurance sector to 74 per cent, a move aimed at attracting overseas players.
Senior Congress leader P Chidambaram's son Karti's name has also cropped up in the case
Karti was arrested on February 28 by the Central Bureau of Investigation on his return from the United Kingdom, and his 12-day judicial custody was to expire on Saturday in the case.
Ahead of a crucial meeting next week, the Foreign Investment Promotion Board is scrutinising the commercial cooperation agreement between Jet Airways and Etihad Airways to ensure control is not passed on to the Abu Dhabi-based airline.
The court, which pronounced the judgment in a packed courtroom, also said that Karti shall not leave the country without its permission.
.jpg)
As per the FIPB agenda, the proposal will be taken up on October 18.
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
China on Monday said Sri Lanka has allowed its satellite and missile tracking ship to berth at the Hambantota port on Tuesday, but declined to reveal details of talks with Colombo leading to the bankrupt island's government reversing its earlier stand to defer the high-tech vessel's entry.
100 per cent FDI is now allowed in almost every major TV distribution form (direct-to-home, cable, headend-in-the-sky, multi-system operators) and 49 per cent in TV news.
The Election Commission (EC) has raised certain questions on the government's proposal to allow foreign direct investment (FDI) in the construction and maintenance segments of the railways.
.jpg)
Single-brand retailers are also allowed to take e-commerce route for such trading.
The application for narco analysis test assumes significance as the agency yesterday alleged that Karti was not cooperating in the investigation and was 'evasive' in his replies.
.bmp)
Retail giant Tesco's entry into Indian market has hit a regulatory roadblock.
The court extended the judicial custody of Chidambaram after the Central Bureua of Investigation sought extension of the veteran Congress leader's judicial remand.
The veteran Congress leader said people asked him why only he had been arrested, but he had no answer.
About 11 entities may be charged in the first charge sheet in the case, the sources said without elaborating on the issue.
India already allows 100 per cent ownership of greenfield pharma businesses.
After questioning him for four hours in the morning, Chidambaram was taken to a special court in Delhi which sent him to CBI custody till Monday.
Vodafone Idea on Wednesday said its board has approved availing the four-year spectrum payment moratorium being offered by the government as part of its relief package for the telecom sector. The other options offered in the Telecom Department's notification will be considered by the board of directors within the stipulated timeframe, it said in a regulatory filing. "...we wish to inform you that the Board of Directors of the company has approved the exercise of the option of deferment of the company's spectrum auction instalments for a period of 4 years (October 2021 to September 2025) in accordance with ...the notification dated 14 October 2021 issued by the Department of Telecommunications (DoT) to the company," it said.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
Future Retail's (FRL's) independent directors have written a second letter to the Competition Commission of India (CCI), stating American e-commerce major Amazon never intended to invest in Future Coupons (FCPL) and the representations made by the US e-commerce player were completely opposite and contradictory to their own internal correspondences as submitted before courts. The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations. By actively misleading the CCI and the regulator, it has to revoke the approval granted for Amazon's investment in FCPL.
'If we want faster growth and want greater flow of credit towards the private sector, it's important to have many more of such large entities.'
After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government's holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR dues into government equity. In a filing to the BSE, Tata Teleservices (Maharashtra) said Net Present Value or NPV of interest is expected to be nearly Rs 850 crore as per the company's estimates, subject to confirmation by the Department of Telecom (DoT).
Many other companies have expressed intent of diluting stakes.
From the enactment of the capital control Act to the recognition of the BSE as a stock exchange and the infamous Harshad Mehta scam, here are the 18 biggest events for stock markets from 1947 to 1993.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances