Lack of time was cited as the main reason for Bharti Chairman Sunil Mittal's exit from the Unilever board.
The government had relaxed the foreign direct investment norms from the existing 26 per cent to 49 per cent, as a one-off case, to allow Mittal to take a share in the Bathinda refinery.
'There is no reason why we should break this business up.'
ICICI Bank chief K V Kamath to be new CII vice president.
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.
Supreme Court had on October 24 upheld government contention that non-core revenue in telecoms groups should be included in adjusted gross revenue. According to DoT's calculations, Bharti Airtel faces a liability of around Rs 42,000 crore after including licence fees and spectrum usage charges while Vodafone-Idea may have to pay about Rs 40,000 crore.
Just as his father Sunil Mittal ignited a revolution in telecom in India, Kavin is trying to do so in a space that represents the rapid convergence of two industries-the internet and telecommunications.
The world's largest steel company ArcelorMittal, led by India-born Lakshmi Mittal, on Thursday said it will acquire a majority stake in steel maker China Oriental Group for about 6 billion Hong Kong dollars.
The car maker, which filed for bankruptcy protection under Chapter 11 on Monday, owes $172.81 billion in total debts to its 50 largest creditors, including ArcelorMittal. In its filing with the bankruptcy court in the southern district of New York, GM said it has a 'trade debt' of $9.55 million to be paid to NRI-billionaire Lakshmi Mittal-led ArcelorMittal. According to the filing, the auto maker has assets worth $82.29 billion.
ArcelorMittal, the world's biggest steel maker, on Monday launched its global brand to reflect the identity of the new company formed after the merger of Arcelor and Mittal Steel.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
Lakshmi Niwas Mittal, who wants to make it big in oil after forming the world's largest steel empire, has lost a bid for taking over Nigeria's biggest oil refinery.
In Jharkhand, the company is hopeful of starting work as soon as the mines issue is resolved, while in Orissa, consultants for the detailed project report (DPR) and the socio-economic survey have been appointed.
The federal agency started its operation in the morning, with around 100 officers mobilised to swoop down at the 30 locations in multiple cities of Jammu and Kashmir, Punjab, Haryana, Uttar Pradesh, Bihar and Rajasthan, besides Delhi and Mumbai, the officials said.
ArcelorMittal reports $780 million loss in the last quarter of 2010.
Steel tycoon Lakshmi N Mittal's acquisition of 49 per cent stake in Hindustan Petroleum Corp's $3 billion Bhatinda refinery has violated his pact with Oil and Natural Gas Corp
Steel tycoon L N Mittal, who had acquired 69 per cent stake in state-owned Polish firm Polskie Huty Stali in 2004, has signed a pact with the Polish government to buy the remaining stake for $2.3 billions.
Incidentally, the shareholders' approval for Shravin Mittal's appointment with an annual salary of up to Euro 250,000 (nearly Rs 1.50 crore), came on the same day (September one) when Wipro promoted chairman Azim Premji's son Rishad as chief strategy officer. Shravin would be a staff member in Bharti Airtel International (Netherlands) BV, or BAIN.
Software industry body Nasscom expects the country's information technology (IT) services sector to grow 13-14 per cent in the current financial year and to touch $225 billion (Rs 13.22 lakh crore) by 2020.
According to the newspaper, Lakshmi Mittal said large parts of manufacturing industry would not suffer the same problems as those parts of the world economy more closely linked to banking and finance such as housing and consumer goods. The India-origin billionaire indicated that substantial parts of the broad industrial sector across the world would perform in a satisfactory way in the next one to two years.
Special CBI Judge O P Saini adjourned today's proceedings after advocate Siddharth Agarwal, appearing for Mittal, said the Supreme Court is scheduled to hear in March the separate pleas filed by Mittal and Ruia challenging the March 19, 2013 order of the trial court summoning them as accused in the case.
NRI steel tycoon Lakshmi N Mittal may partner with Hindustan Petroleum Corp Ltd in the state-run firm's under-construction $3 billion refinery at Bhatinda in Punjab.
World's biggest steel maker Arcelor-Mittal's plans to sell Dofasco to German steel giant ThyssenKrupp has hit a roadblock, with the Dutch foundation that controls the its Canadian unit deciding against its dissolution.
There seem to be some more delays in the pipeline for the decade-old Bathinda refinery project of Hindustan Petroleum Corporation in which Mittal Investments recently announced its decision to pick up 49 per cent stake.
Mittal Steel is offering about $23.2 billion cash and its own shares for Arcelor.
Kavin Bharti Mittal, son of Airtel's Sunil Mittal, speaks about why he came back to India from the UK, his new business venture, paying for mobile apps and the need for co-founder support.
Mittals Champions Trust Sports Foundation has agreed to sponsor 15 boys -- five each from senior, junior and sub-junior category.
Mittal's wealth dropped with the Arcelor Mittal share price falling
Taken aback by the attack, Orissa government promised early clearances to mega steel projects, including Mittal's.
Their downside is that the donor relinquishes all control over the transferred property, and certain tax implications may also arise.
Arcelor and LN Mittal will hold a press conference on Monday at Arcelor's headquarters in Luxemoburg at 5.30 pm (IST) on Monday to highlight the broader issues that led to one of the biggest mergers in the steel industry.
After an intense battle of nerves, the world's cheapest steel-maker Tata seems to have outrun the world's biggest steel-maker Mittal in the race to acquire South Africa-based Highveld Vanadium and Steel.
The European Parliament should discuss and debate Lakshmi Mittal's $23 billion bid for Arcelor, Josep Borrel, President of the Parliament has said.
The apex court had on December 4 last year, reserved the verdict after hearing counsel for corporate honchos and the Central Bureau of Investigation.
Mittal, who is the head of services business of Hewlett Packard for Asia Pacific and Japan, will succeed Karin Karnik and will assume office from January 2008.
NRI steel tycoon Lakshmi Mittal is considering relinquishing his controlling stake - a move that could lower the barriers to shareholders accepting his $22.1 billion
Steel giant Arcelor has said it would be ready to receive a written proposal from Mittal Steel about an unspecified "industrial project" related to the steel industry, a media report said on Saturday.
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