If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
A bench headed by Justice R Banumathi rejected the review plea filed by the CBI saying the last year verdict does not suffer from any error apparent warranting its reconsideration.
The CBI had registered an FIR in the case on May 15, 2017 alleging irregularities in the FIPB clearance granted to the media group for receiving overseas funds to the tune of Rs 305 crore in 2007 during Chidambaram's tenure as finance minister.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
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At the close of trade, telecom stocks ended with as much as 4.3 per cent loss.
The agency recorded his statement under the Prevention of Money Laundering Act with some specific queries on the circumstances and procedures adopted by the now-defunct Foreign Investment Promotion Board while giving approval to the Aircel-Maxis deal during his tenure.
A government panel on Tuesday proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes.
Market regulator Sebi does not expect a large number of foreign portfolio investors to be impacted by the new beneficial ownership disclosure norms, according to sources. The norms are set to come into effect from February 1 and against this backdrop, the equity market has witnessed significant volatility, with the benchmark Sensex crashing over 1,000 points on Tuesday after shedding early intraday gains. The sources in the know said FPIs which may be required to provide enhanced disclosures are expected to be significantly less than estimated in the consultation paper and the Sebi board note of October 2023.
Insurance sector regulator IRDAI has given conditional approval to Hinduja Group firm IndusInd International Holdings Ltd (IIHL) for the takeover of debt-ridden Reliance Capital. "We are happy to acknowledge the receipt of approval from IRDAI yesterday (May 10, 2024) on the auspicious occasion of Akshay Tritiya. "The approval is subject to certain 'regulatory, statutory, and judicial' clearances/compliances," an IIHL spokesperson said in a statement.
The Home Ministry has conveyed to the Department of Economic Affairs (DEA) that it has not given security clearance to the Abu Dhabi-based Etihad Airways' proposal to buy a 24 per cent stake in Jet Airways.
Right from the early days of liberalisation, there have been political controversies surrounding several cases that landed on the FIPB table and which, in turn, have often led to court battles.
Objections were being raised by senior Bharatiya Janata Party leader Jaswant Singh, Communist Party of India's Gurudas Dasgupta, Dinesh Trivedi (Trinamool Congress) and Janata Party chief Subramanian Swamy over the deal, each of whom had shot off separate letters to Prime Minister Manmohan Singh.
Seeks capital gains tax payment prior to FIPB clearance.
SSTL is the second operator after Vodafone that has approached FIPB for raising FDI limit.
At the NSE, the stock zoomed up by 8 per cent to Rs 444.
There has been a decent growth in FDI proposals and new announcements in India to attract foreign investment.
The RBI has also been asked to consider displaying this information on its website.
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The report comes at a time when the government is trying to clear pending FDI proposals, which include various planned investments in this sector.
The senior Congress leader's role has come under the scanner of investigating agencies in the Rs 3,500-crore Aircel-Maxis deal and the INX Media case involving Rs 305 crore.
When asked whether the Reserve Bank of India had sent any further comments, Dua replied in the negative.
While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
The apex court was hearing two separate petitions filed by Chidambaram challenging the Delhi high court August 20 verdict by which his anticipatory bail was dismissed in the cases registered by both the agencies-- CBI and ED.
'It's the court, not the government that decides where to put the people who indulge in corruption'
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
Chidambaram and his son Karti were named in the chargesheet filed by the Central Bureau of Investigation in the case on July 19.
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.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
Making a strong case for approval of their proposed airline JV, Tatas and Singapore Airlines have said that the venture would create significant job opportunities in India and would boost the country's image as an international investment destination.
French giant might apply for multi-brand retailing if UK rival gets nod.
However, this was subject to conditions like substantial ownership and effective control of the airline being vested in Indian nationals.
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.
The company will spend Rs 10,141 crore to buy 15.5 per cent stake from minority investors.
The Civil Aviation Ministry has submitted replies to the CVC on a series of allegations raised by Nishikant Dubey against the deal and clarified all concerns raised by him, official sources said.
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.
Bharti will move FIPB soon for increasing Axa's stake to 49%
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
World's second largest mobile operator Vodafone Plc of UK on Tuesday sought FIPB approval to invest Rs 10,141 crore (Rs 101.41 billion) in raising its stake in the Indian arm to 100 per cent.
Approval comes 6 months after Swedish clothing giant applied for India entry; FIPB now to consider on Oct 18.
Tata-SIA have applied to the Civil Aviation Ministry for a no-objection certificate to start a full-service airline in India.
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
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