The deal brings the two start-up stalwarts - Bansal and Ola co-founder and chief executive officer Bhavish Aggarwal - together in the backdrop of growing foreign control in this space.
The bank (Williams & Glyn's), which was dormant for about 30 years, is being revived by UK-based lender the Royal Bank of Scotland Group Plc.
No one knows where billionaire Nirav Modi emerged from. What is known is that when he came (back) to India, he cut his teeth in the diamond business under the tutelage of his jeweller uncle. Then he began to build a glittering international brand. Soon even Hollywood stars like Kate Winslet and Dakota Johnson were walking the red carpet showing off Nirav Modi jewels.
With 13 properties on board, The LaLit is now keen to take its hospitality school -- The Lalit Suri Hospitality School -- in Faridabad, Haryana, to the next level.
Monday's drop followed an 8.5 per cent slump in Chinese markets.
The Dow has never lost more than 800 points in a day.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour.
'As long as people are eating we will be there,' Rebel Foods CEO Jaydeep Barman tells Viveat Susan Pinto and Niraj Bhatt.
BSE is world's largest exchange in terms of listed companies and figures among top 10 globally on various other parameters.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
The markets have reacted negatively, for example, to recent news that Cairn India, of which the Anil Agarwal group company Vedanta owns 60 per cent, will give a $1.25-billion loan (about Rs 7,500 crore) on notably easy terms to Sesa Sterlite, another Anil Agarwal group company.
BSE Metal and Capital Goods indices plunged over 2% followed by counters like Consumer Durables, Auto, Banks and Realty, all falling down between 1-2%.
Infosys, Tata Motors, ONGC, TCS and GAIL are the top 5 losers.
In commercial real estate, leasing of office space was higher although the activities were subdued in retail segment.
'This has been an ongoing process,' says Ambassador B S Prakash, India's former consul general in San Francisco, 'but I believe a Modi visit to the West Coast can be a force-multiplier.'
Sahara relied on a letter from bank saying the funds were there.
'India is no longer the India of the '70s and the '80s.' 'It's a large country with the fastest growing economy.' 'In working with India, you just can't go and humiliate the nation publicly.' USIBC President Mukesh Aghi tells Aziz Haniffa/Rediff.com about how he advises American companies to do business with India, what he thinks of Modi's government and the way forward for the India-US relationship.
