According to the CEO of an Indian group with presence in the telecom segment and two merchant bankers, the Mexico-headquartered telco's bankers have been sounded out for preliminary discussions with leading Indian telecom companies for a strategic tie-up.
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.
Justice Suresh Kait, who was hearing Chidambaram's interim bail plea, directed the Tihar jail superintendent to provide clean and hygienic surrounding to the 74-year old Congress leader as also home-cooked food, mineral water, mosquito protection net and repellent
After coming out of CBI headquarters in New Delhi, Chidambaram said he had appeared before the CBI and the first information report did not contain any allegations against him.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
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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.
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.
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.
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.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
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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).
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
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.
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.
Solicitor General Tushar Mehta, representing CBI and ED, contended that the Congress leader was evasive during interrogation and was giving long answers.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
Changes being driven by Etihad, says a source, after a V-P quits
The CBI and the ED said that new material has been recovered which needs to be collated.
Over two lakh posts are estimated to be created by the Central government in its various departments.
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
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.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
The trial court had earlier said that the allegations against Chidambaram were found serious, therefore, he was remanded to police custody.
This can mean companies like Apple, Zara can sell in India through wholly-owned subsidiaries
The company has not been able to sell its 9.8% stake in Cairn India
Regulator believes Jet Airways deal triggers open offer
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.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
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.
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".
Bad loans of PSU banks rose by 28.5 per cent.
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.
The reason behind issuing new bank licences is to allow more private sector entities to set up banks
The dealers operating in the space have jumped nearly three times over the past two years.
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.
'An explanation perhaps lies in the culture of revisions that has grown deep roots in the government data collection system,' notes A K Bhattacharya.
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.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
