This meeting came in the backdrop of a controversy raked up by some politicians, including those from Bharatiya Janata Party, Communist Party of India and Trinamool Congress, who objected to the sale of 24 per cent of Jet's equity to Etihad at a cost of Rs 2,058 crore, saying it was not in the national interests.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
Chidambaram has sought interim bail in the INX media money laundering case on medical grounds, saying his condition is deteriorating and he needs to be in a sterile environment.
Only a fifth of foreign portfolio investors (FPIs) in breach of the market regulator-specified thresholds may need to provide enhanced disclosure on ultimate beneficiaries, thanks to exemptions being provided, according to people in the know. The ultimate beneficial ownership (UBO) disclosures, for FPIs with over 50 per cent holding in a single corporate group or over Rs 25,000 crore exposure to Indian assets, will be required from February 1. But, depending on their category, FPIs will have 10-30 working days to submit these granular details.
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After a high-level meeting held on Friday chaired by Prime Minister Manmohan Singh, it has been decided that the Commerce and Industry would soon start a consultation process to address 'dangers inherent' in the current model of FDI in brownfield pharma units.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
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.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
Solicitor General Tushar Mehta, representing CBI and ED, contended that the Congress leader was evasive during interrogation and was giving long answers.
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In the process, Vodafone India's valuation rose 48.39 per cent since February 2012, when Piramal Enterprises bought 5.5 per cent stake in Vodafone India for Rs 3,007 crore (Rs 30.07 billion).
The CBI and the ED said that new material has been recovered which needs to be collated.
Facing opposition fire for exit polls allegedly being used for stock market manipulation, Axis My India's chief Pradeep Gupta has said he is open to facing all kinds of investigations and it would help do business in a much better way if the government frames specific regulations for pollsters.
Over two lakh posts are estimated to be created by the Central government in its various departments.
Changes being driven by Etihad, says a source, after a V-P quits
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
The trial court had earlier said that the allegations against Chidambaram were found serious, therefore, he was remanded to police custody.
India, the US and 12 other members of the IPEF grouping have signed a supply chain resilience agreement that would help mitigate risks of economic disruptions from supply chain shocks and improve crisis coordination. The agreement would help member countries like India to reduce their dependence on China and provide timely information to the IPEF member countries about potential supply disruptions. The COVID outbreak severely disrupted the global supply chain, as most countries were dependent on China for various products like pharma raw materials.
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
Vodafone Idea MD and CEO Ravinder Takker told PTI that the company is gearing up to invest in the business and compete in the market.
Referring to the arguments advanced by Chidambaram's counsel on Tuesday that ED wanted to humiliate him by arresting him, Mehta had said, "A victim card is sought to be played. They are saying humiliation. It is not. It is prevention, prevention and prevention with capital P. I am serious about this".
The company has not been able to sell its 9.8% stake in Cairn India
'An explanation perhaps lies in the culture of revisions that has grown deep roots in the government data collection system,' notes A K Bhattacharya.
Regulator believes Jet Airways deal triggers open offer
The apex court imposed certain conditions on Karti and directed him to furnish an undertaking in three days that he would abide by the conditions and timeline of his visit.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
The apex court issued notices to the Centre, ministries and departments concerned, Jet Airways and United Arab Emirate's Etihad Airways on the petition challenging the deal and sought their responses within four weeks.
Swamy gave notice in the Rajya Sabha for moving Breach of Privilege Motion against Leader of Opposition Ghulam Nabi Azad over his remarks related to the AgustaWestland issue.
Bad loans of PSU banks rose by 28.5 per cent.
A bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud allowed Karti to be accompanied by a lawyer at the CBI headquarters during the questioning.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
The probe agency made the submission in an affidavit filed before Justice A K Pathak, who listed the matter for hearing on August 1 and extended till then the interim protection against arrest granted to Chidambaram on May 31.
The chargesheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukherjea and Indrani Mukerjea.
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs as foreign investments above Rs 600 crore (Rs 6 billion) can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.
An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders.
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