On Thursday, the SC will resume hearing on Mittal's plea challenging the court's summons.
Arcelor-Mittal proposed two plants in Orissa and Jharkhand of 12-million tonne capacity each. These are the first greenfield projects anywhere by Mittal.
The Supreme Court on Thursday allowed the prosecution of Som Mittal, chief of National Association of Software and Service Companies in the Pratibha Murthy murder case.
The company signed an agreement with Jharkhand government in October 2005 to set up a Rs 40-crore steel facility and in December 2006 for an identical plant in Orissa. Mittal, however, asserted that the company's 'long term strategies for India is unchanged' and any short-term delay would not change the overall long-term plans for the country.
Some people stand out just by being unassuming. Sanak Mishra, chief executive officer (CEO), Mittal Steel India, is one of them.
India-born billionaire Lakshmi N Mittal will invest Rs 3,200 crore (Rs 32 billion) in taking 49 per cent stake in Hindustan Petroleum Corporation Ltd's $3 billion Bhatinda refinery.
Seeks SEZ status for 12 million tonne steel unit.
LN Mittal, who is a frontrunner for acquiring a 51 per cent stake in Sesa Goa from Mitsui and has announced plans for projects in Jharkhand and Orissa worth Rs 40,000 crore each, is planning a $2 billion (Rs 8,600 crore) foundation.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Expanding its presence in the automotive sector, the world's biggest steel maker ArcelorMittal has reached a preliminary agreement to acquire French major Vallourec's two steel tube-making units for an undisclosed sum.
Rediff.com's Harish Kotian caught up with Mittal Champions Trust's Amit Bhatia to find out about his involvement with the trust and expectations from Indian athletes at the Games.
RP Singh, managing director of Bharat Oman Refineries Ltd, the special purpose vehicle implementing BPCL Bina refinery, had told Business Standard in August that the company was in talks with strategic investors to sell 15 to 20 per cent stake.
India-born billionaire Lakshmi Mittal will pay Russia's Lukoil $980-million
The development comes on heels of the company closing its blast furnaces in France and Belgium.
Sections in France may still be sore about Laxmi N Mittal's takeover of Arcelor but Luxembourg, where the factory is located, is certainly not afraid of the owner of the world's largest steel manufacturer of Indian origin.
The Delhi Police filed an 800-page chargesheet against the seven accused on April 1 and the case was subsequently committed to a sessions court.
Joining the likes of N R Narayana Murthy and Azim Premji to blame the Indian government for policy inaction, UK-based NRI billionaire L N Mittal said the country is potentially condemning millions to remain in poverty by not helping industrialisation.
According to South Africa government officials, they are working closely with India through their respective finance ministries on the proposed deal between Bharti Airtel and MTN, including seeking exemption on a range of exchange controls regulations.
Bharti chairman Sunil Mittal MTN group president and CEO Phuthuma Nhlek had met Finance Minister Pranab Mukherjee on Monday. The two telecom majors extended the deadline for exclusive talks for their proposed $23-billion deal to the end of next month recently.
A senior official attached with the Tambaram police commissionerate has been transferred and put under compulsory wait, days after the AR Rahman concert row that among others witnessed traffic snarls which even affected the movement of the Chief Minister's convoy.
Arcelor Mittal will invest $20 billion to set up two steel plants in India, in Jharkhand and Orissa.
Mittal Steel India, which will require 8,000 acres -- a mix of government and private land -- in Keonjhar, Orissa, for its proposed 12 million tonne plant, has decided to develop its own rehabilitation and resettlement package.
The stake was bought for Rs 447 crore (Rs 4.47 billion).
The Times daily quoting sources close to Nippon Steel of Japan on Monday reported that a powerful clause in its 2001 technology tie-up agreement with Arcelor could dramatically reduce a would-be buyer's interest in the French-run company.\n\n
After posting losses for three consecutive quarters, the global steel giant, ArcelorMittal, on Wednesday posted a net income of $900 million for the quarter ended September 30.The firm's net income of the company in the third quarter of this fiscal was, however, 76 per cent lower from the year-ago period.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
Among those inducted in the GMB, include Sudhir Maheshwari, currently executive vice-president finance and mergers and acquisitions, Davinder Chugh, senior executive vice president Shared Services and Christophe Cornier, executive VP Flat Products Western Europe, a company release said. These appointments were necessitated following retirement of ArcelorMittal Chief Operating Officer Malay Mukherjee from the board.
"The loss in the second quarter of 2009 resulted from exceptional charges amounting to $1.2 billion primarily related to write-downs of inventory ($0.9 billion) and provisions for workforce reductions ($0.3 billion)," L N Mittal-promoted company said.
The steel plant will be closed down in 25 days unless an investor takes it over, operative executive director of the Bulgarian metallurgic enterprise Plamen Stoyanov told the Bulgarian media. Bulgaria's biggest steel plant has already shut down some of its production facilities, including two of its blast furnaces, and plans to stop operations completely by the end of this month.
Over 100 Indian institutions offer semiconductor design curricula, but hardly any of them focuses on manufacturing and process technology, a top official from global memory and storage major Micron Technology said on Thursday. There is significant global demand for such chip engineers, its president and chief executive Sanjay Mehrotra said at the 10th Vibrant Gujarat Global Summit in Gandhinagar. "While more than 100 Indian institutions provide a semiconductor design curriculum, hardly any focus on semiconductor manufacturing and process technology.
Sunil Bharti Mittal, chairman and group CEO of Bharti Enterprises and former president of the Confederation of Indian Industry, said on Tuesday that it was time for the United States to change its position towards India vis-a-vis Pakistan.
A fresh date for Wresting Federation of India's (WFI) long-pending elections is likely to be announced on Wednesday after the Supreme Court set aside the stay imposed by Punjab and Haryana High Court, a member of the IOA-appointed ad hoc committee said.
The company had been posting decline in net income for the last 14 consecutive quarters.
