"My family reputation kept me a silent spectator, as I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our legacy, our finances and my personal credibility."
Japan is not making any preparations to postpone the 2020 Olympics, the government's top spokesman said on Wednesday, stressing Tokyo's resolve to host the event as scheduled despite the global spread of coronavirus.
Finance Minister Nirmala Sitharaman on Tuesday said there were visible signs of revival in the economy but the GDP growth may be in the negative zone or near zero in the current fiscal.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
The latest whistleblower complaint accusing him of pressuring finance team members to inflate profitability has come right out of the blue. There's another allegation that he made racist remarks against some board colleagues. For a man with a singular focus on the business and clients, all of this must have blindsided him.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
E-commerce giants such as Amazon, Netflix and Flipkart, whose headquarters are not in India, potentially have to pay the additional levy of 2 per cent from April 1.
'This is not without risk because extraordinary steps taken in exceptional times have the habit of becoming habits until the next crisis intervenes,' warns T N Ninan.
While the most obvious beneficiary of this roll-out will be manufacturers of FASTags, or the Radio Frequency Identification chips, a PwC report says implementation of a pan-India electronic toll collection system on national highways may help save approximately Rs 87,000 crore annually.
The lockdown that crippled the entire logistics, delivery and supply chain network to near zero, was enough to deal a body blow to India's fastest growing unicorn whose very business model saw a severe disruption, like several other firms and sectors.
Joe Biden's B3W proposal aims to bring democracies together. India should come up with its own plans to contribute to the initiative, states Rahul Mishra.
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
...and getting GDP to measure India's data economy, recommends Ajit Balakrishnan.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, Titan, SBI and NTPC. NSE Nifty settled 32.10 points up at 14,707.80.
In 2020 India was compelled by China to change its national security strategy. From counter-insurgency, which the army has been focussed on for years, we shifted to conventional war, observes Aakar Patel.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
In a big blow to embattled British Prime Minister Johnson, two of his senior Cabinet colleagues, including Chancellor Rishi Sunak, resigned on Tuesday, as they expressed their loss of confidence in his leadership amidst a spate of scandals.
Headline inflation will come down under the 6 per cent mark in July itself but will stay at an elevated level of over 5 per cent for some time, Chief Economic Advisor K V Subramanian said on Thursday. Such an outcome will get the price rise back into the upper-end of the target band given to RBI, he said, adding that consumer price inflation had breached the mark for three consecutive quarters last fiscal because of supply side issues like challenges in movement of goods. "With reasonable probability, I expect this month the (inflation) print to come less than 6 per cent," Subramanian told a conference organised by industry lobby Ficci. Right after data for May showing inflation at 6.4 per cent had come out, Subramanian said he had predicted it will cool down in internal meetings and also during "deliberations with the regulator".
5 commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of GST's purview given the revenue dependence of state governments on these sectors.
Goods and Services Tax (GST) collections at Rs 95,480 crore in September touched the highest level so far this fiscal, the finance ministry said on Thursday.
United Nations Secretary General Ban Ki-moon has said that he "really wanted" Prime Minister Narendra Modi to participate in a crucial climate change summit in New York next week to mobilise political will for a universal and meaningful climate agreement.
For months, offline retailers and traders have been lobbying hard for a national retail policy to protect their business from the growing influx of e-commerce.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Bhavdeep Singh, the CEO of Fortis Healthcare said that they haven't been able to focus on the business due to an internal issue, especially with regard to the promoters
The law firm had specifically named the bank's chief executive and managing director of over 25 years, Aditya Puri, his designated successor Sashidhar Jagdishan and company secretary Santosh Haldankar as defendants.
'You have come out with a package for the kisan.' 'You have a package for industry.' 'But has anyone addressed the issues concerning small traders?'
Corporate social responsibility rules that kicked in on Friday also set a three year time-limit for any CSR project, among a series of other amendments introduced by the government.
The hospitality and tourism sector is among the worst hit because of the pandemic, and is unlikely to recover any time soon as people continue to be cautious of going out in a crowded places.
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
As lobbying and counter-lobbying intensify, right now, it looks like a T20 match, discovers Tamal Bandyopadhyay.
While manufacturing firms cut jobs for the first time in 20 months to sharply reduce costs, services providers continued their hiring spree.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
Irrespective of demonetisation and GST blues, IIM Lucknow has been able to successfully place their batch of 459 students.
'I was shocked by the kidnapping episode. I could have lost my life.'
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Modi's unexpected announcement of achieving net zero by 2070 may have neatly deflected the pressures on India to sign up to an ambitious pledge but it does nothing to dispel the ecological emergency that threatens all life on the planet, , points out former forerign secretary Shyam Saran, the prime minister's special envoy and chief negotiator on climate change 2007-2010.
