According to the CEO of an Indian group with presence in the telecom segment and two merchant bankers, the Mexico-headquartered telco's bankers have been sounded out for preliminary discussions with leading Indian telecom companies for a strategic tie-up.
Oppo's FDI application approved for single-brand retail trading
May include 'influencing a company's major policy decisions' in the current meaning.
While most of these commanders quit the airline for better prospects, some of them also parted ways due to the work culture
The event will aim at drawing foreign investment in startups and push local partnerships.
The Sensex and the Nifty had touched a low of 27,921 and 8,349 respectively.
UK-based retail major Tesco Plc on Tuesday filed the first application for setting up multi-brand retail outlets in India.
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After a high-level meeting held on Friday chaired by Prime Minister Manmohan Singh, it has been decided that the Commerce and Industry would soon start a consultation process to address 'dangers inherent' in the current model of FDI in brownfield pharma units.
In his petition, Karti contended that the July 18 circular had been issued arbitrarily and without jurisdiction by the Foreigner Regional Registration Officer and The Bureau of Immigration under the Union home ministry at the behest of different agencies to prevent him from travelling abroad.
The letter was written on February 20, two weeks after the Cabinet Committee of Economic Affairs had approved the 100 per cent ownership proposal of Vodafone Plc in Vodafone India, at a proposed investment of Rs 10,141 crore (Rs 101.41 billion).
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.
This meeting came in the backdrop of a controversy raked up by some politicians, including those from Bharatiya Janata Party, Communist Party of India and Trinamool Congress, who objected to the sale of 24 per cent of Jet's equity to Etihad at a cost of Rs 2,058 crore, saying it was not in the national interests.
Jaitley's Budget has the potential to change the face of Modi's Bharat
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
As per information available with the Corporate Affairs Ministry, the new company was incorporated on November 5 with a total paid up capital of Rs 500,000 and has been registered in New Delhi.
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In the process, Vodafone India's valuation rose 48.39 per cent since February 2012, when Piramal Enterprises bought 5.5 per cent stake in Vodafone India for Rs 3,007 crore (Rs 30.07 billion).
Market regulator Sebi does not expect a large number of foreign portfolio investors to be impacted by the new beneficial ownership disclosure norms, according to sources. The norms are set to come into effect from February 1 and against this backdrop, the equity market has witnessed significant volatility, with the benchmark Sensex crashing over 1,000 points on Tuesday after shedding early intraday gains. The sources in the know said FPIs which may be required to provide enhanced disclosures are expected to be significantly less than estimated in the consultation paper and the Sebi board note of October 2023.
India already allows 100 per cent ownership of greenfield pharma businesses.
FIPB rejects proposals from firms that have not divulged details of beneficial ownership or source of funding
Apart from them, Chidambaram's wife -- Nalini -- has been chargesheeted by the CBI in the Saradha chit-fund scam for allegedly accepting a bribe of Rs 1.4 crore.
The Securities and Exchange Board of India (Sebi) may allow non-resident Indians (NRIs) and Overseas Citizens of India (OCIs) greater exposure to domestic equities if their investments are sent through foreign portfolio investors (FPIs) registered at the GIFT City International Financial Services Centre (IFSC). The proposal will be taken during Sebi's board meeting on Saturday along with other key agenda items such as easing of voluntary delisting mechanism and introduction of a regulatory framework for real estate fractional ownership platforms, said people in the know. At present, the combined holdings of NRIs and OCIs in a global fund have to be less than 50 per cent, while that of a single NRI or OCI is capped at 25 per cent.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
Concerns over effective control not addressed in the second revised shareholders' agreement, says DIPP; Sebi opposes commercial cooperation pact
Changes being driven by Etihad, says a source, after a V-P quits
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
The paper will invite comments on whether or not the royalty ceiling applicable till 2009 should be re-imposed.
Chidambaram has not been named as an accused in the FIR and the CBI is yet to file a chargesheet in the matter.
The company has not been able to sell its 9.8% stake in Cairn India
Bad loans of PSU banks rose by 28.5 per cent.
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
Regulator believes Jet Airways deal triggers open offer
The apex court issued notices to the Centre, ministries and departments concerned, Jet Airways and United Arab Emirate's Etihad Airways on the petition challenging the deal and sought their responses within four weeks.
Swamy gave notice in the Rajya Sabha for moving Breach of Privilege Motion against Leader of Opposition Ghulam Nabi Azad over his remarks related to the AgustaWestland issue.
Commerce and Industry Minister Suresh Prabhu is slated to meet senior executives of Apple on the sidelines of the World Economic Forum in Davos later this month.
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.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
After building a subscriber base of nearly 50 million in about eight chequered years, it finally gave up as it saw itself up against a 600-pound gorilla that breezed through double that many subscribers in a fraction of that time, says N Sundaresha Subramanian.
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.
Why are DIIs holding such a high stake in Zee, which is beset with alleged governance issues? Perhaps they think Zee is a deep-value stock, observes Debashis Basu.
Decision-making is stretched because of differences in views between ministries.
