Beleaguered liquor baron Vijay Mallya on Wednesday announced he will retire as chairman of Sanofi India and will not seek reelection as a director of the drug maker.
Buyer actor-producer Sachiin Joshi, who owns Viiking Media, has reportedly bought the villa, spread over 12,350 sq ft or three acre at Candolim.
Promising swift action on the debit card data compromise issue, Economic Affairs Secretary Shaktikanta Das on Friday said there was no need to panic over the feared security breach that affected over 32 lakh cards.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
HDFC Bank, the country's second-largest private sector bank, has cut its base rate by 15 basis points (bps) to 9.70 per cent.
The challenges before the government, he said, is to put public sector banks back on track and continue to operationalise stalled infrastructure projects
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
Mallya remains elusive to India as the United Kingdom informed the government that they cannot comply with their request to deport him
India's roughly $150 billion outsourcing sector generates about three quarters of its revenue from the United States.
UB Group Chairman Vijay Mallya is no longer a member of India's 100 Richest club, even as fortunes of the country's uber-rich have seen a significant growth since last year.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
Financial shares were the top losers.
It will be headed by Secretary, Department of Financial Services.
ED's zonal office in Mumbai, they said, is preparing legal papers to take the next step in the wake of Mallya skipping the third summons that required him to "personally" join investigations on April 9.
Bankers have hailed the Prime Minister's call to end "financial untouchability" and opened millions of accounts on the inaugural day itself.
Pharma shares were the top gainers led by Lupin after the company received EIR from USFDA for its Goa facility
Tag for defaults on nearly Rs 7,000 cr loans to long-grounded Kingfisher Airlines
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Kingfisher to be lager partner at ICC Champions Trophy to be played in UK.
The consortium led by SBI has also initiated the process of recovery.
With the incessant rains halting the city's lifeline local trains, many office-goers on Friday bicycled to work, calling it the best alternative to reach their destinations in time.
Bad debt rules are steps in right direction.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
Broader market outperformed the headline indices with BSE Midcap and Smallcap finishing the day 1.22%, and 1.54% higher, respectively
SBI announced a 0.40 per cent cut in lending rate to 9.30 per cent, which is the most competitive in the market at present.
Here's how brokerages across the country are interpreting the exit polls.
Traders believe the RBI will step in more strongly, if the rupee starts falling towards 65
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
A few state-owned banks such as IDBI Bank, Union Bank, Indian Overseas Bank have announced results for FY14.
Rajiv Raj tells you about some easy financing options to deck up your home
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
Making purchases on your credit card can turn out to be a better idea. Here's why.
The NSE 50-share index, after moving between 10,469.90 and 10,395.25, finally concluded at 10,458.65, up 41.50 points
'Flush with funds, lending became a cash management exercise.' 'Road projects, power generation plants, airports etc were financed left and right with apparently no regard for the projects' ability to repay,' explains S Muralidharan, former managing director, BNP Paribas.
The rupee will largely remain stable but with a mild depreciating bias in the next one year
The suspected security breach happened through a malware in the systems of Hitachi Payments Services, which serves ATM network of Yes Bank
Following are certain important things that lenders consider while processing loans to self-employed...
Mallya, who is mired in a huge controversy for leaving India on March 2 in the middle of a massive loan default probe, was quoted as having said in an email interview to the Sunday Guardian published on March 13 that time was not 'right' to return to the country.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
