The agency on Friday also carried out searches on the premises of the Gitanjali Group at 20 places in Mumbai, Pune, Surat, Jaipur, Hyderabad and Coimbatore.
Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.
Did you know that women can avail for a loan of upto Rs 20 crores to set up a manufacturing business?
CII suggested the policy measures required to ease the tight liquidity situation by cutting CRR by at least 50 basis points.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Across India, decades of mismanagement and political meddling have left utilities selling electricity below cost and turning a blind eye to rampant theft.
An Indian American Silicon Valley entrepreneur has launched a unique initiative designed to get techies to volunteer their time to develop software and applications that will benefit people in India and other developing countries.
The Congress president said the PM should apologise for the note ban decision.
The US intends first to cripple the Afghan government financially through sanctions, freezing of assets, denial of access to international banking, etc, and then proceed to do pretty much what it wants to do with scant regard for Afghanistan's sovereignty, predicts Ambassador M K Bhadrakumar.
'While there has been an impact on economic activity, it is not as profound as the lockdown last year.'
'Outside investors don't want to get tangled up in a religious war.'
Adani said he expected the number of flyers in the country to grow five-fold, which means India would require 200 additional airports to handle over 1 billion domestic and international passengers across the tier-1, -2 and -3 cities.
The size of the Indian financial services market could touch around $340 billion in the next few years.
Force India, who finished sixth overall last year but whose owners have had financial troubles, missed the first test in Jerez.
The 1.3-kilometre-long bridge aims to boost connectivity to the Kashmir Valley and it is being constructed at a cost of Rs 1,486 crore as part of the Udhampur-Srinagar-Baramulla Railway Link project
Pegged at $1.8 billion in construction deal size, The London Resort, which is located 17 minutes outside London, has attracted bids from three other construction majors from across the world.
Russia and China are tight-fisted and Iran is broke and none of them has the political will or capacity to bankroll the Afghan economy, which only the US can, points out Ambassador M K Bhadrakumar.
The Budget emphasises on capacity building and empowerment of marginalised sections of society including farmers.
Congress leader Rahul Gandhi alleged that Modi's move was aimed at helping a few of his 'crony capitalist friends' and had 'destroyed' the Indian economy, prompting a strong response from the BJP which said the exercise was an 'attack' on corruption and black money that were rampant during the 'lost decade' of the Congress-led United Progressive Alliance government.
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
also made a case for the need to create a self-sufficiency fund for innovation, construction and manufacturing clusters to make use of the emerging opportunities in the wake of disruption in global supply chain.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
There has been speculation within Formula One that Lawrence Stroll, the billionaire father of Canadian driver Lance, is willing to invest in Force India as part of a move for his son from Williams.
The government has finalised the details of a task force on Indus Water Treaty, which will be formed within one week, with the aim to stop river waters going waste in Pakistan.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
The minister said that the priority for him will be "rolling out all stuck highway projects that include many of the IL&FS projects within 100 days".
Ayan Pramanik reports on former Infosys CFO V Balakrishnan's fintech firm, which aims to make borrowing easy for small firms and individuals.
'The kind of jobs the advent of artificial intelligence, data science and so on are creating simply didn't exist before'
Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector
Nikita Puri and Dhruv Munjal explain why new-age businessmen are turning to exclusive, uber-rich clubs.
We need a comprehensive redevelopment plan that seeks to redesign our overgrown cities in terms of connectivity, mobility and liveability.
The government is somehow convinced that selective low-rate lending will stimulate demand and accelerate economic growth that plunged to a four-year low of 4.4 per cent in the first three months of 2013-14.
With its new line-up, the firm has managed to touch the right chords, but to regain market share from the established players, Micromax will have to fight a protracted battle.
India is believed to have challenged in a court in The Hague an arbitration tribunal verdict that overturned its demand for Rs 10,247 crore in back taxes from Cairn Energy Plc -- the second time in three months that it has refused to accept an international award against retrospective tax.
As the euphoria around US President Barack Obama's visit ebbs, the fine print of the investment announcements reveal a financial boost for American solar energy companies to increase their exports to India.
Assets that are on the block include loans, proprietary bond and equity investments.
