The apex court directed Mallya, who is currently in the United Kingdom, to appear before it on July 10 to argue on the quantum of punishment in the matter.
A mix of industrialists and businessmen, who have inherited riches or rose from humble backgrounds and even endured boom and bust cycles, the top five MPs are illustrative of how the political stock of the wealthy is increasing rapidly.
Enforcement Directorate is jointly probing the case.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
Wondering if mutual fund investments can help you make you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
The country last raised the amount of government debt that foreign investors can buy by $5 billion in June last year.
The SIT will ask the RBI for transaction details over 15 years
While the government is working on final contours for a strategic divestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas destinations.
India celebrated Dhanteras, the biggest gold buying festival, followed by Diwali, when scarcity of the yellow metal and high prices pushed consumers to buy silver and diamond jewellery.
'It could tempt investors to pick stocks that are not fundamentally sound.'
The agency filed the prosecution complaint under the Prevention of Money Laundering Act before a special court in Mumbai and said Naik's "inflammatory speeches and lectures have inspired and incited a number of Muslim youths in India to commit unlawful activities and terrorist acts."
Moody's said the negative outlook reflected uncertainty over the refinancing of Macrotech's (formerly Lodha Developers) upcoming debt maturities.
There are certain key points that one must know when while applying for education loans
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
Ongoing trade-war rhetoric between the US and China added some nervousness on the trading front coupled with extremely bullish dollar sentiment overseas.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Among the index heavyweights, Reliance Industries ended down 1.9% while mortage lender HDFC eased 0.2%. FMCG major ITC ended down 1.3%.
The turmoil in the global financial markets has cast its shadow on India's largest real estate deal. Delhi-based developer BPTP Ltd, which was banking on overseas institutions to fund the acquisition of 94 acres of prime land at Noida for Rs 5,006 crore, has sought an extension to pay the first instalment of the money.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
The S&P BSE Sensex has gained 149 points to open at 25,802.
The Rs 11,400 crore PNB fraud saga unfolded after a bribery complaint by the Hong Kong branch of an Indian bank.
On a daily basis, an average cash logistics company transports Rs 5,000-8,000 crore worth of cash nationwide.
Theoretically, Modi, who understood corporate finance, committed no crime by raising debt to fund a growing business. In fact, he did a tidy job of it, but his operation started to see the ground underneath it give way in January 2018. A fascinating excerpt from Pavan C Lall's Flawed: The Rise And Fall Of India's Diamond Mogul Nirav Modi.
"As an organisation committed to the rule of law, our operations in India have always conformed with our national regulations. The principles of transparency and accountability are at the heart of our work.".
Luxor Writing Instruments on Thursday said it aims to double sales turnover to Rs 250 crore by 2005-06 on the back of growing sales of Luxor brand and would invest Rs 200 crore this year to open overseas offices.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
'The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb the volatility.'
According to the latest data released by the Reserve Bank of India, remittances for overseas studies accounted for 61.59 per cent of the total outgo under the liberalised remittance scheme that enables individuals to send up to $200,000 (around Rs 98 lakh) annually for specified activities without seeking prior approval.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
And why markets could give up 25 per cent of all these gains made since March 2020
The government has cleared 408 foreign direct investment proposals involving Rs 3,025 crore (Rs 30.25 billion) in the first half of this fiscal, the Lok Sabha was informed on Friday.
Falling for the fourth day in succession, the rupee today dipped by 23 paise to close at nearly three-week low of 59.38 against the dollar amidst the RBI announcing an SLR cut that is expected to release nearly Rs 40,000 crore into markets.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
Bond market expects the Reserve Bank of India to cut the repo rate after the government buys back gilt worth over Rs 84,000 crore (Rs 840 billion), hopefully this month.
With the rupee crossing Rs 72/dollar in recent times, things suddenly don't look too good on several counts.
Traders said sentiment turned distinctly weak after gold prices slumped in global markets as Swiss voters rejected a plan for their central bank to accumulate bullion and oil extended its decline to five-year low, curbing demand for the precious metal.
After a sharp sell-off in the past two months, overseas investors were once again seen turning bullish on Indian equities. FIIs bought shares worth Rs 63.5 billion in the past five sessions, their highest weekly investment tally in many months.
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