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While private equity giant Blackstone and Pune-based realtor Panchshil Realty had offered Rs 800 crore for the building at Nariman Point, the building's owners -- Viveck Goenka, chairman and managing director of the Indian Express Group, and private equity firm ICICI Venture (which has 49 per cent stake in the property) -- expected the sale to fetch Rs 900 crore, said the executive.
Brokerage Edelweiss Securities said if the NDA returns to power with a clear majority in line with exit polls, markets would rejoice the policy continuity.
The sluggish legal system in India makes it extremely difficult for law-enforcing agencies in the ministry of finance to punish violations of foreign exchange laws. Unfortunately, it is not just FEMA. The Prevention of Money Laundering Act too has significant infirmities, say Paranjoy Guha Thakurta and Pranati Mehra.
An expected drop in sales may prompt Mahindra & Mahindra to cut scheduled capacity expansion plans, if the government goes ahead with the imposition of additional tax on diesel vehicles, according to the country's biggest maker of sports utility vehicles.
"We will come up with a new brand identity next month and have already assigned one agency for this. It will be a new branding for Saregama, with a more youthful and uncluttered logo. We have chalked out the future road map. While there are plans to enter the television space more aggressively, we are exiting the films business," said Sanjiv Goenka, chairman of the Group.
The Supreme Court on Wednesday took exception to Union Law Minister Salman Khurshid's reported statement that putting businessmen behind bars will hamper investments in the country, saying if true it is "disturbing".
Continuing his explosive tirade against the Bharatiya Janata Party, NRI businessman Anshuman Mishra on Saturday made several allegations about top leaders of the saffron party, during an interview with STAR News.
Union Agriculture Minister Sharad Pawar had sent in a request to the President for visiting Baramati in Maharashtra to see the all round development made in the areas of agriculture, irrigation and town planning.
Olympic silver medallist PV Sindhu was the Sportswoman of the Year award in the individual sport category, a statement read.
Seeking stringent action against the perpetrators of the Pulwama attack, India Inc said 'now we have to make sure that the world knows that they can't mess with us'.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar on Wednesday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks.
The root of the problem, according to industry officials, is the sudden stoppage of lines of credit to tea plantation companies.
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The XUV300, Mahindra's second compact SUV, is so packed with segment-firsts that it is sure to send shockwaves among competitors.
Emami's soaring fortunes have been dragged down to earth by the blaze that torched its AMRI Hospital, killing 93 people. With seven directors -- six of them family members -- in jail or absconding, can the Emami Group survive the rocky road ahead?
The current slowdown has lasted for over 18 months and is the longest incident of sluggishness since 2006.
There's an undercurrent of fear in business circles these days
The Supreme Court has granted bail to five corporate executives in 2G spectrum case.
Asks India Inc for a list of concerns in 4 weeks, to coordinate policy response within 60 days; FM says prevailing cynicism based on perception, not facts.
The corporate honchos who are behind bars for their alleged involvement in the 2G scam will have to celebrate Diwali in jail as the Supreme Court on Friday deferred the hearing on their bail pleas to Octocer 31.
In an increasingly global business world, where teams work across borders, understanding different work cultures is the key to success.
India's largest utility vehicle maker is also planning to take it own products to the Korean market next year, said Pawan Goenka, M&M president, automotive and farm equipment sector.
A key 2G case witness and ex-aide of A Raja on Monday told a Delhi court that the former telecom minister was in touch with Swan Telecom promoters, Shahid Usman Balwa and Vinod Goenka and Unitech MD Sanjay Chandra and had cleared their projects during his stint with ministry of environment and forests in 2004-07.
It would pave the way for Jammu and Kashmir to attract large-scale investments, the industry leaders said.
Has liberalisation squeezed the personality out of India Inc's leaders?
With his strong views on Bharatiya economics, his appointment to the RBI board may well presage interesting times, says Archis Mohan.
Gautam Doshi, Surendra Pipara and Hari Nair, senior executives of the Reliance ADA Group who were granted bail on Wednesday by the Supreme Court in the 2G spectrum scam case, will provide major relief to their high-profile boss Anil Ambani.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
Rediff.com has in its possession a copy of the CBI chargesheet.
Mahindra & Mahindra is one of India's leading auto makers.
In contrast to their lavish lifestyle, all the five spent their night in a 90 square feet Tihar prison cell.
The five were not arrested during the probe into the case.
Auto major Mahindra has ambitious plans for its electric cars project, that include ramping up its output to 60,000 units a year, high-end electric powertrains, and 380 to 650 volt battery systems.
No tyres of any description have rolled out of its factories in Sahagunj (West Bengal) or Ambattur (Tamil Nadu) since 2011 and 2012, respectively.
All the corporate accused had challenged the special CBI court's order declining their bail pleas and directing their arrest on April 20.
Mahindra plans to launch 8-10 products, including a premium sports utility vehicle, across various segments by March 2012
While DB Realty sent out an official statement early evening, Unitech did that much later.
Auto major Mahindra & Mahindra said it has decided not to acquire the over 95 per cent stake in the beleaguered PSU firm Scooters India at present, as it has "various things" to do.
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