Torrent Pharmaceuticals' Rs 3,000 crore proposal for increasing FII investment limit to 35 per cent was the biggest in terms of value
The long-pending Jet-Etihad deal envisaging foreign investment of Rs 2,058 crore will come up before Foreign Investment Promotion Board (FIPB) for approval on July 29.
Senior Congress leader P Chidambaram's son Karti's name has also cropped up in the case
The move came as the country badly needs capital inflows as the rupee comes under pressure
Dubai-based Emirates Airline has termed reports that it is holding discussions with Indian carrier SpiceJet for buying a stake in the airline as 'inaccurate' and said that it was busy with its own expansion plans.
A day after FIPB cleared the Tata-Singapore Airlines' (SIA) airline venture, Tata group Chairman Emeritus Ratan Tata and SIA chief Goh Choon Phong on Friday met Civil Aviation Minister Ajit Singh exuding confidence of launching flights by May-June next year.
Hundreds of millions of dollars were invested in publicly traded Adani group stocks through Mauritius-based 'opaque' investment funds by partners of promoter family, the Organised Crime and Corruption Reporting Project (OCCRP) alleged on Thursday. The fresh allegations by an organisation funded by likes of George Soros and Rockefeller Brothers Fund come months after a US short seller wiped away close to $150 billion in value of Adani group stocks with allegations of accounting fraud, stock price manipulation and improper use of tax havens by the ports-to-energy conglomerate run by billionaire Gautam Adani. Adani group has denied all allegations. Citing review of files from multiple tax havens and internal Adani Group emails, OCCRP said its investigation found at least two cases where the "mysterious" investors bought and sold Adani stock through such offshore structures.
His son Karti was questioned by the agency in the same case on Thursday for about six hours.
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As per the FIPB agenda, the proposal will be taken up on October 18.
The court, which pronounced the judgment in a packed courtroom, also said that Karti shall not leave the country without its permission.
The bank wanted to run a background check on some Indian promoters.
Tatas and Singapore Airlines have assured the government that control of their proposed airline venture would always remain in Indian hands, while seeking approval to offer passenger services on both domestic and international routes.
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
The Central Bureau of Investigation on Friday told the Supreme Court that 15 accused, including Chidambaram, his son Karti and some companies have been chargesheeted in the case.
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The proposal of Tatas and Singapore Airlines for a new joint venture, entailing foreign investment of $49 million, is likely to come up before the Foreign Investment Promotion Board for approval on October 18.
The Euro 25-billion firm can now set up furniture stores in India, along with restaurants and cafes, in line with its global concept.
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.
"His (Chidambaram) arrest is good news. He is now cornered from all sides," Indrani Mukerjea told reporters in a sessions court where she was produced to attend trial in the case of killing of her daughter Sheena Bora.
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.
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Single-brand retailers are also allowed to take e-commerce route for such trading.
$5 mn FDI must come in six months: Govt to construction firms.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
India is one of the largest military equipment importers in the world, at over $8 billion a year.
The approvals would be handled independently by administrative ministries of different sectors.
P Chidambaram's son Karti was arrested on February 28 at the Chennai airport on his return from the United Kingdom, for his alleged role in facilitating Foreign Investment Promotion Board clearance for INX Media Ltd. and its directors, Peter and Indrani Mukerjea.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
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.
Debt-ridden telecom operator Vodafone Idea on Thursday said its board has approved raising of up to Rs 14,500 crore, including Rs 4,500 crore from promoter entities. An amount of Rs 10,000 crore would be raised by way of sale of equity or through debt instruments such as ADR, GDR and FCCBs. In a regulatory filing, the company said the board has cleared issuance of up to 338.3 crore equity shares of face value of Rs 10 each at an issue price of Rs 13.30 per equity share for an aggregate consideration of up to Rs 4,500 crore.
Speaking at the 2013 CAPA Australia Pacific Aviation Summit held in Sydney, Abu Dhabi-based Etihad Airline's President and CEO James Hogan said, "We are delighted to welcome Air Serbia to our equity alliance, and look forward to receiving final approvals from regulators in India of our investment in Jet Airways," he added.
Special Judge O P Saini took strong objection to the agencies seeking repeated adjournments.
BJP leader Subramanian Swamy on Friday moved the Delhi High Court seeking an order restraining the Centre from granting any approval to AirAsia for its operations in India.
The family sources said that Chidambaram has lost around 8-9 kg since his detention.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Reason for rejection hasn't been stated; deal among seven rejected transactions.
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.
'The quality of a leader should be such that even if the leader is not there, the institution carries on.'
A bench of Chief Justice N V Ramana and Justice Manmohan issued notice to Civil Aviation Ministry, DGCA and others and sought their response by October 30.
Chidambaram had on Wednesday rushed to a trial court for protection from arrest in Aircel-Maxis case before approaching the Delhi high court in connection with the INX Media case, in which he has been asked by probe agencies to join investigations.
The Foreign Investment Promotion Board (FIPB) on Monday deferred a decision on Vodafone's Rs 10,141 crore (Rs 101.41 billion) proposal to buy out minority shareholders in its Indian arm as the Ministry of Home Affairs is yet to give its comments.
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