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.
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.
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.
Earlier, SC had given two weeks to prove Chidambaram deliberately granted FIPB clearance in 2006
The chargesheet names 14 accused, including the Congress leader's son Karti Chidambaram, Peter Mukherjea and Indrani Mukerjea.
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.
Tech giant allowed to set up fully owned shops, with 30% local sourcing like everyone else.
The court decided the bail petition on three grounds -- flight risk, tampering with evidence and influencing witnesses.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
To sell five Boeing 777s, replacing these with cheaper aircraft
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
Ministerial consultations on, with recognition of the potential, and the need to not classify it under the same rules as for pharmaceuticals.
Decision-making is stretched because of differences in views between ministries.
The central probe agency issued a provisional order under the Prevention of Money Laundering Act for attachment of Indian assets in Kodaikanal and Ooty in Tamil Nadu and a flat in Delhi's Jorbagh. A cottage and house in Somerset in the UK and a tennis club located in Barcelona, Spain have also been attached as part of the same order, the agency said.
A Delhi court Wednesday issued summons to former Union minister P Chidambaram and his son Karti in the INX Media money-laundering case on taking cognisance of the charge sheet filed by the Enforcement Directorate (ED) against them.
Paving way for closure of long-pending Jet-Etihad deal, fair trade regulator CCI on Tuesday approved the proposed acquisition of 24 per cent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.
Mukerjea recorded her statement under the Prevention of Money Laundering Act and said she and her husband Peter Mukerjea met Chidambaram at his office in Delhi's North Block.
The surge in deal value is largely due to the $12.9 bn Essar-Rosneft deal
The government has relaxed the norms for allowing foreign direct investment (FDI) in the construction development sector. It is expected the move will boost affordable housing projects and smart cities across the country.
It is understood that the agency wanted to put a fresh set of questions to him regarding the deal and hence had asked him to appear.
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.
The Central Bureau of Investigation told the Supreme Court that charge sheet in the controversial Aircel-Maxis deal involving former telecom minister Dayanidhi Maran will be filed shortly as the Attorney General disagreed with the views of its Director Ranjit Sinha to drop the prosecution.
A CBI spokesperson said he has been arrested on the basis of a warrant issued by a competent court.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
Officials said the agency had issued a notice to Karti to present himself in person or through an authorised representative and submit personal financial documents and those related to a firm this week.
The bench said that he would not tamper with the evidence or attempt to intimidate or influence the witnesses in the case.
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.
Special judge Ajay Kumar Kuhar was informed by the Enforcement Directorate that Chidambaram's arrest in the INX Media money laundering case is necessary but it will be done at an appropriate time.
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.
Vodafone, according to sources, in its response to the Finance Ministry's offer for conciliation, had expressed keenness to settle the long-pending capital gains tax dispute.
While posting the matter for hearing on Thursday, the bench said: "We are conscious that we should not usurp the jurisdiction of the concerned trial court".
Move aimed at giving more headroom to foreign investors.
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.
Karti and Mukerjea were brought face-to-face and questioned by the CBI team for about four hours.
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.
The two companies are hopeful of winning over at least one regulator's go-ahead this week itself for their deal, which happens to be the first FDI by a foreign airline into India.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
Congress leader Veerappa Moily stated that the negotiation for Agusta began during former prime minister Atal Bihari Vajpayee's regime and all his advisors and defence ministers were involved.
Chidambaram was competent to give approval of upto Rs 600 crore but he gave the approval which was worth approximately Rs 3,500 crore
'This man has aged, but does not know the difference between words spoken on the streets from those of spoken in Parliament.' 'He does not allow his hair to turn gray, so he hasn't learned or matured.' Rashme Sehgal reports on how Subramanian Swamy has riled the Congress yet again.
