Last year, the London-headquartered bank had bought a 49 per cent stake in UTI Securities from the Securities Trading Corporation of India for Rs 147 crore. The bank retains the option to raise the stake to 74 per cent this year and the remaining shares by 2010.
The apex court told Roy that his proposal of paying Rs 1,500 crore, if the auction process was halted or postponed, was unbelievable.
BSE, the oldest stock exchange in Asia, aims to raise up to Rs 1,243 crore from the IPO, which has a price band of Rs 805-806 per share.
In 2011-12, 2010-11 and 2009-10, the sector attracted FDI worth $1.99 billion, $1.66 billion and $2.55 billion respectively.
A summary of sports events and sports persons, who made news on Friday
RBI, Sri Lankan central bank agree on $1.5 bln currency swap deal.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Officials said the agency seized a number of documents during the searches from the premises of the firms and entities brought under the action as they were 'connected'.
SP leader Naresh Agrawal alleged that the government was 'deliberately sitting' over the names that have come to light in the leaked documents from the files of law firm Mossack Fonseca, based in the tax haven of Panama.
The Pride Group of Hotels will float an initial public offering in the first quarter of 2008 to part-fund its expansion plans of Rs 340 crore.
India will export its first warship later this month, a move that is seen as a big leap for the country's defence public sector units.
Summary of sports events and persons who made news on Saturday
'I'd rather do a great role in any language than do mediocre stuff in Hindi.'
I can't see what purpose can be served by an apology by a British government that cannot in any way be blamed for one sadistic man running amok 100 years ago, argues Sunanda K Datta-Ray.
HSBC has acquired the stake from E*Trade Mauritius ( 43.85 per cent) and an additional 29.36 per cent stake from IL&FS. In addition, HSBC has paid a non- compete fee of Rs 82.45 crore ($19.4 million) for a three-year period to IL&FS.
Clearly, LoCs are becoming a key arrow in India's economic diplomacy quiver.
Gearing up for its pan-India 4G services launch in coming months, Reliance Jio Infocomm has approached the Department of Telecom for a network test conducted along with security agencies.
As someone with nostalgia for the good cheer and friendly feelings of Brazilian people, former Ambassador to Brazil B S Prakash can only hope that when they see on their TV screens their President being feted on Rajpath, they will sense India's goodwill for Brazil.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
'India could become the newest Asian tiger under Modi's dynamic leadership. Modi could become the Nehru of the 21st century, and re-establish a new Tryst with Destiny, by stating once and for all that Mera Bharat Mahaan is and will always be a truly secular and inclusive democracy in the best spirit of Bharatiya-tva,' says Ram Kelkar, offering an NRI view of the Modi triumph.
Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.
'The introduction of a tax on LTCG will be a deterrent for foreign investors and could potentially result in a movement of trading activity away from India to other offshore jurisdictions such as Singapore, which offer better tax rates and sophisticated financial products.'
Every time the prime minister goes abroad, it costs the exchequer Rs 40 lakh
The Indian claimed Bantamweight gold by beating Louis Richard Bruno Julie of Mauritius
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
Avista helped some companies restructure their debt in such a way that overseas investors had to take a steep haircut
'Foreign policy-making cannot be shifted out of Delhi and the regional satraps, who do not have a national perspective, should not be allowed to dominate foreign policy. But regional inputs should be integral to foreign policy-making at every step of the way,' says Ambassador T P Sreenivasan.
Italian defence and aerospace major Finmeccanica's former chief Giuseppe Orsi has been sentenced by the Milan appeals court to 4.5 years in jail for false accounting and corruption in the sale of 12 VVIP choppers to India for over Rs 3,600 crore.
The Securities and Exchange Board of India, and its Mauritian counterpart, the Financial Services Commission, are likely to sign shortly an agreement for information sharing.
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