A senior executive of GMR group confirmed that both the companies were keen to get out of the venture. Fraport has already closed its development office in India.
Indian drug maker Matrix Laboratories Ltd on Monday said US-based generic pharma firm Mylan Laboratories Inc will acquire up to 71.5 per cent stake in the company for around Rs 3,424 crore ($736 million).
Sunil Mittal-owned Bharti group on Friday announced it would buy 27.5 per cent stake of Telesystem International Wireless of Canada in Hexacom, a cellular telecom operator in Rajasthan.
Even as the government deferred the decision to enhance foreign investment limit in telecom, Sunil Mittal-owned Bharti Group said on Thursday that its offer to buy Canadian TIW's 27.5 per cent stake in Hexacom has been terminated
Tusk Investment, Mauritius, a wholly owned subsidiary of private equity firm Elephant Capital, has sought approval from the Foreign Investment Promotion Board (FIPB) to acquire a 30 per cent stake in Amar Chitra Katha Pvt Ltd (ACK).
Soros, a Hungarian-American political activist, and his organisations like OSF have been accused by the ruling BJP of acting against India's interests. His utterances during the Adani-Hindenburg controversy also drew criticism from the party.
Karnataka high court on Wednesday refused to stay an emergency shareholder meeting called by select investors of Think and Learn Pvt Ltd -- the owner of Byju's -- to oust the company's Founder and CEO Byju Raveendran and his family from the leadership in the edtech firm. Byju's had approached the Karnataka HC seeking a stay on the EGM but the court only gave an interim relief that any resolution passed at the EGM on Friday cannot be implemented before the next court hearing. "It is further submitted that the conditions for convening the Extraordinary General Meeting (EGM) are not complied and no notice is issued as contemplated under Section 100 (3) of the Companies Act 2013," the court order said.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
The 15 proposals were cleared following recommendations by Foreign Investment Promotion Board.
Pharma major, Dr Reddy's Laboratories Ltd on Wednesday said it will form an integrated drug development company 'Perlecan Pharma Pvt Ltd' with an equity capital of $52.5 million from two venture capital investors.
Meanwhile, Bird Air Services Pvt Ltd., a wholly-owned subsidiary of Bird Group, signed a comprehensive marketing agreement with Pacific Propeller Intl, a global repair and overhaul services provider to several regional airlines and military aircrafts.
A battle is brewing in the families which run the Jagran group of newspapers. The group's flagship brand, Dainik Jagran, is the country's largest circulated newspaper.
The Board of Control for Cricket in India has scrapped all its IPL media rights agreements with Mauritius-based World Sport Group, claiming that MSM Satellite (Singapore) Pvt Ltd is the rightful owner of all media rights relating to the Twenty20 event.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
Leading third party business process outsourcing player Daksh eServices Pvt Ltd plans to hire 900 people during the year to ramp up its total headcount to over 4,500, a top company official said on Friday.
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.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
The letter rogatory, a judicial request for information from an Indian court to a court abroad, was sent recently to the United Kingdom, Singapore, Mauritius, Bermuda and Switzerland, they said.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
They were chargesheeted for alleged offences punishable under section 120-B (criminal conspiracy) of IPC and under relevant provisions of the Prevention of Corruption Act.
FIPB had taken up these three proposals in its meeting in August, but the decision on them was kept in abeyance.
Congress on Monday accused Rajasthan Chief Minister Vasundhra Raje of "forcible, illegal occupation" of the Dholpur Palace along with Lalit Modi through a private company.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
The government has approved 16 projects envisaging foreign investment worth Rs 1,647 crore (Rs 16.47 billion), while deferring Punj Lloyd's proposals for lack of security clearance.
Maxis Communications Berhad (MCB), which has been named in a CBI chargesheet for alleged wrong doing in sale of Aircel, on Tuesday denied charges of using illegal means to acquire the firm from Siva Ventures and said it will pursue all legal remedies to defend itself and its officials.
Chidambaram was competent to give approval of upto Rs 600 crore but he gave the approval which was worth approximately Rs 3,500 crore
Former Telecom Minister Dayanidhi Maran, his brother Kalanidhi Maran and six others, including four companies, were on Friday chargesheeted by the CBI in a special court in the Aircel-Maxis deal case arising out of the investigation in the 2G spectrum allocation scam.
Earlier, SC had given two weeks to prove Chidambaram deliberately granted FIPB clearance in 2006
The case is related to the alleged irregularities in granting clearance by the Foreign Investment Promotion Board to INX Media, once owned by Peter and Indrani Mukherjea, for receiving overseas funds to the tune of Rs 305 crore.
Special CBI Judge O P Saini took cognisance of the CBI's charge sheet filed against eight accused including four companies and summoned them on March 2, 2015.
The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
An international tribunal has ruled that the Indian government had acted "unfairly" and "inequitably" in annulling a contract between Devas and ISRO's commercial arm Antrix.
The sources said the matter should have been referred to the Cabinet Committee on Economic Affairs as foreign investments above Rs 600 crore (Rs 6 billion) can only be cleared by Cabinet Committee on Economic Affairs headed by the Prime Minister.
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Ramesh released some fresh documents including one of 1949 which showed that the Dholpur Palace was owned by the Rajasthan government.
Enforcement Directorate on Wednesday opposed in a Delhi court the bail plea of businessman Gautam Khaitan, arrested in connection with the money laundering case related to Rs 3,600 crore VVIP chopper deal, claiming that he was behind the "parking" of alleged kickbacks in the matter.
'From the very start, PM Modi was insistent that visiting foreign leaders should be exposed to an India beyond its capital.' 'Through these experiences, he felt that the full Indian narrative would be much better understood across the world,' explains External Affairs Minister S Jaishankar. A riveting excerpt from Bluekraft Digital Foundation's Modi@20: Dreams Meet Delivery.
FIR says that the officials by virtue of influence exercised over them by Karti, not only ignored the serious illegality on the part of INX Media on both the counts but also deliberately showed undue favours to INX Group.
