Earlier, the Scheme of Amalgamation and Arrangement was approved by the High Courts of Andhra Pradesh and Mumbai. The company then had launched Tech Mahindra as the brand identity of the merged entity.
CBI sources said the shell companies were allegedly being used by the suspects to divert loan funds meant for specified purposes, creating fake invoices, and 'round-tripping' of funds to evade taxes and generate black money.
In the first arrest in the NSEL's Rs 5,600 crore (Rs 56 billion) payout scam, a top official of the beleaguered spot commodity bourse, which defaulted on its payment for the eighth time in a row yesterday, was held on Wednesday by Mumbai police's Economic Offence Wing (EOW).
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
During his four-day-long stay in India, Biden will hold meetings with top Indian leadership, including President Pranab Mukherjee and Prime Minister Manmohan Singh.
A family man with two sons, who made it a point to attend all weddings and occasions in the community, Siddhartha is known by everyone as the quintessential 'nice guy' CEO -- never yelling, raising his voice or screaming at his employees, says Pavan Lall.
Inviting private sector in Indian Railways is a good idea.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
The NDA government is seeking removal of all political appointments.
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
Inflation and asset prices have eroded the value of money.
He said farmers need to get good remunerative price for their produce.
New listing on the BSE will create more jobs, say experts.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
The Essel Group on Monday rebutted news reports that it is setting up parallel cricket boards across different countries in collaboration with Ten Sports Network but said it is now geared up to enter the sports business at a global level, focusing on cricket.
Demerging print and TV news businesses will allow for separate investment by interested players.
'I reached Bhopal the day after the gas tragedy; the smell was still in the air. It was a professional hazard but I was not scared.'
The main losers on the Sensex were Tata Steel, Hero Moto, BHEL, ONGC & Maruti Suzuki.
'The Indian state is very benevolent when it comes to corporates,' says Tom Thomas, chief executive officer of Praxis, and convenor of CRW India.
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
A look into the challenges of selling loss-making public units.
Soon after the BJP lost the 2004 election, the stockmarkets went into unprecedented free fall. Then SEBI Chairman G N Bajpai reveals how his firm handling of the situation restored confidence and soon the markets were back to doing what they do best -- make money. A revealing excerpt from his book, A Game Changer's Memoir.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
Keep at least one family member in the know of all your investments
The agency's latest action, under Prevention of Money Laundering laws, had been taken against the borrower company and its two group companies, which owe the investors Rs 922 crore (Rs 9.22 billion), sources said.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Be a disciplined investor for attractive returns, says fund managers.
Once a stock market darling, the jewellery chain heads for liquidation.
Decorated lights decked up buildings and earthen lamps dotted houses as people across the country celebrated Diwali.
Fairfax Financial Holdings made three investments in a month
Analysts say markets to be impacted by monsoon, inflation trajectory.
Frozen mutual funds and shares worth Rs 86.72 crore belong to Choksi and his group, and the rest are owned by the Modi group.
She was the managing director and the CEO of PNB since August 14, 2015 before being appointed in Allahabad Bank on May 6, 2017.
