Private banking refers to customised service, including wealth management, provided to high networth individuals.
The JV was supposed to get at least 45 per cent stake.
Financing would not be an issue for the group that had business interests in global finance, telecommunications, film, oil and the automotive sector.
ONGC and the Hinduja group are lining up investment of close to $20 billion in exploration assets in Iran and a refinery and LNG terminal in India.
Hinduja Group chairman S P Hinduja on Friday called for transparent policies, simplified procedures, and better business environment in India to attract investments from overseas Indians and foreigners.
Hinduja Group on Thursday said it was "very much in the race" to acquire India's fourth largest mobile player Hutch-Essar and said that it would begin reading the books of the target company from Monday.
The Hinduja family is planning investments of about $50 billion (Rs 2 lakh crore) in the next five years in India and abroad, led by a foray into oil and gas in Iran. The closely held group, run by four billionaire brothers, is also planning large investments in real estate, automotives, power and infrastructure, mostly in India, Europe and West Asia.
The Hinduja Group is exploring investments in infrastructure, including roads and power, and is planning to enter the passenger car segment.
In a bid to enter India's booming petroleum sector, the Hinduja group has entered into a joint venture agreement with Oil and Natural Gas Corporation
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
The Hinduja Group chairman, who was in Davos to participate in the World Economic Forum, however, noted that the incident might not have much impact on the reputation of India Inc in the eyes of foreigners, who are more used to such scams. Raju's confession not only shocked India Inc, but investors all over the world. Such type of wrongdoings are more prevalent in the western world and foreigners are used to this kind of happenings, Hinduja said.
Hindujas had put in a bid of $20 billion -- higher than Vodafone's bid of $19.3 billion.
Hinduja Brothers are keen to invest in Indian Infra projects.
In a bid to improve London's air quality and make it the world's first Ultra Low Emission Zone, four pure electric buses made by the Hinduja Group have been introduced trialling new emission-free technology.
Both lenders and Etihad are not comfortable with the entities holding stake in Jet as they have no proven credentials in running a big business
The Prayagraj airport in India is experiencing a surge in air traffic due to the Maha Kumbh, a major religious festival. The airport is handling an average of 40 non-scheduled charters and private jets daily, with figures reaching 70 on weekends. This is in addition to the average 148 scheduled commercial passenger aircraft operating daily. The airport recently received a contingent of about 180 politicians from Rajasthan and has seen corporate bigwigs like the Ambani brothers, Gautam Adani, and Pawan Munjal pass through. The airport has also hosted four international flights since the beginning of the Maha Kumbh, including a flight carrying Laurene Powell Jobs, the wife of Apple co-founder Steve Jobs. The airport is currently undergoing an upgrade and expansion, and officials are looking forward to the government's plans to integrate Prayagraj with the airports at Kashi and Ayodhya to promote tourism in the region.
"India has immense credibility in the whole world because it is the largest and is a true democracy and I believe India can play a very important diplomatic role in bringing both sides together to resolve the misunderstandings they have," S P Hinduja, chairman of The Hinduja Group, said. "No one should suspect India because it is the best democracy in the world," he added.
London Mayor Boris Johnson officially welcomed the introduction of the buses.
A Rs 250-300 crore (Rs 2.5-3 billion) healthcare facility in Tamil Nadu with a capacity of 200-300 beds is being planned by the Hinduja Group of Companies.
While the Hinduja brothers - Gopichand, Prakash, and Ashok Hinduja - did not indicate any move to begin talks with Vinoo Hinduja, top Indian lawyers said mediation would help both sides considering that the letter signed by the four brothers cannot trump other legal documents and challenge the validity of a registered will of SP Hinduja.
The case has been brought by Srichand Parmanand Hinduja, 84, described as the "patriarch" of the family, against brothers G P Hinduja, 80, P P Hinduja, 75, and A P Hinduja, 69, and revolves around the "validity and effect" of a letter dated July 2, 2014. The letter includes statements to the effect that the brothers appoint each other as their executors, and that assets held in any single brother's name belong to all four. A related second letter, dated July 1, 2014, is also linked to the dispute.
While the interest from Hinduja is a positive sign for the grounded airline, executives of banks cautioned that there is no certainty that the deal will fructify. The cost of recapitalising Jet Airways is increasing every day.
Hinduja Global Solutions, the BPO arm of the Hinduja group -- one of the interested parties in acquiring the scam-tainted Satyam Computer Services -- said it has chalked out a 100-day plan, just in case it is successful in its attempt. Meanwhile, it has written to the merchant bankers involved in the transaction. "We are very interested in Satyam and accordingly, we have written to the merchant bankers but are yet to receive any reply," said Anand Vohra, CFO.
The ONGC-Hinduja combine would meet Iranian the authorities around mid-April to finalise 'participating agreement' for the development of Phase-12 of the giant South Pars gas field and South Azadegan oilfield, ONGC Chairman and Managing Director R S Sharma told reporters in New Delhi on Wednesday. The consortia was in Tehran earlier this month to do technical due diligence for the two fields but ended up being shown old data for the Phase-12 and no data of South Azadegan.
The Hinduja Group on Friday said it is likely to start examining the books of Hutchison Essar Ltd next week and has arranged funds for a possible bid to acquire a controlling stake in the mobile firm.
The London-based Hinduja conglomerate has begun work on the $15-billion investment plan for India's power sector that will result in generating 10,000 MW for the national electricity grid.
The Hinduja group says it will bid for Italian tyre and real estate major Pirelli's stake in Telecom Italia only if the acquisition gives it management control in Italy's largest telecommunications operator.
Stating that "sky is the limit for investors" in India, conglomerate Hinduja Group's Co-Chairman G P Hinduja has said the Western world should get into emerging markets including India and China, which would help both sides to improve their economies.
The group has already announced plan to invest $50 billion in power, realty, auto, healthcare and oil and gas projects in India, whose appetite for infrastructure funds is pegged at about $500 billion over the next four-five years.
Just six months after pulling out of Hutchison Essar, the Hinduja group is set to throw its hat into the ring for the country's fourth largest telecom company.
'This market for diesel starts at around Rs 6.3 lakh and goes up to Rs 7 lakh, and with Saathi we have our usual price set at Rs 6.5 lakh, so we are slightly on the lower side with a superior product.'
Indian cricket legend Kapil Dev was also honoured with a Lifetime Achievement award at the ceremony.
Hinduja brothers have been ranked as Britain's richest Asians in 2014 with a total worth of 13.5 billion pounds, an increase of one billion pounds over the previous year.
Hinduja Group Chairman S P Hinduja on Saturday hailed the Modi government's Budget as "socially inclusive" that lays a clear roadmap for placing India on double digit growth trajectory in the medium term.
59 of the 101 millionaires have seen an overall increase in net worth.
Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore. This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner. The Hinduja acquisition is currently awaiting the Supreme Court's approval after the Torrent group, the winner of the first round, challenged the second auction conducted by the lenders of Reliance Capital.
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