Saini was accused of demanding bribes from Christian Michel James, an alleged middleman, to favour the company during field evaluation trials held in 2010, officials said.
'It is not clear how the NDA government -- including Defence Minister Nirmala Sitharaman and Finance Minister Arun Jaitley, backed by senior IAF officials -- claimed that the 36 Rafale contract with Dassault in 2016 cost the IAF 20% less than Dassault's 126 Rafale offer,' notes Ajai Shukla in the first of a three-part series.
The Supreme Court on Monday dismissed a petition filed by the Kerala government against the state high court verdict rejecting the pleas challenging the Centre's decision to lease out Thiruvananthapuram International Airport to Adani Enterprises Ltd.
Going by the current market cap of Rs 83,451.15 crore, 7.33 per cent stake in BPCL is expected to be valued around Rs 6,117 crore.
Union ministry of home affairs changed its mind and gave bid clearance for Hiranandani Developers and its consortium partner, Zurich Airport
The project cost was pegged at Rs 4,766 crore (Rs 47.66 billion).
'It was Parrikar's sharp insights into finance and international systems that stood out when India --at his suggestion -- decided to procure the Rafale combat jets from France.'
The estimated cost of the project is around Rs 1,642 crore.
The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official. A final approval on the proposal is expected soon.
The Department of Space (DoS) plans to realise entirely-built rockets -- GSLV-Mk III and SSLV -- from Indian industry partners, in addition to PSLV, according to a top official of its commercial arm NSIL.
The defence ministry has already shortlisted two Indian shipyards and five foreign defence majors for the project, being billed as one of biggest "Make in India" ventures.
After the Union comptroller and auditor-general saying there'd been a loss of Rs 10.67 lakh crore in allotment of coal blocks, the draft Request For Proposal (RFP) for new allocations has strong clauses for cancellation for breaches on this count.
The Ahmedabad Urban Development Authority (AUDA) on Wednesday invited proposals from consultants to conduct a 'gap analysis' to assess the existing infrastructure in the city and to state what more is needed to make it a potential venue for the Olympic Games.
Confident of signing the much delayed USD 10 billion (Rs 62,120 cr) contract for Rafale fighter jets with India "soon", French Defence major Dassault on Thursday said its pricing remains the same from day one and it has not wavered from the request for proposal.
As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation before the Department of Investment and Public Asset Management, which is handling the sale process, on August 10, according to a notice by DIPAM. The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.
In December 2019, the India arm of Deloitte Touche Tohmatsu surprised many with its ultra-competitive bid to become the transaction advisor for the country's largest strategic divestment in Bharat Petroleum Corporation (BPCL). The multinational major quoted just Rs 1; the second-highest bidder, SBI Caps, reportedly quoted Rs 15-17 crore. For Deloitte, the motivation was to bag a prestigious deal adding a national energy company to its portfolio. No doubt, it expected BPCL to go to a marquee buyer in quick time.
With the IAF having rejected variants of 4 of the contending aircraft -- the Super Hornet, F-16, Gripen C/D and MiG-35 -- in flight trials carried out between 2009-2011 in the MMRCA tender, are the current contenders improved enough to pass flight trials conducted to the same standards?
HAL's HTT-40 aircraft have outperformed both Swiss Pilatus planes and the IAF's performance criteria. Why then does the IAF prefer the Pilatus to the HTT-40?
They said the decision to retract the RFP was taken after the DRDO expressed confidence of producing the ATGMs.
This is the fourth of the six submarines the Indian Navy is to induct under the Kalvari-class submarine Project-75.
India's first indigenous aircraft carrier will be commissioned next year and its combat capability, reach and versatility will add formidable capabilities in the country's defence, Defence Minister Rajnath Singh said in Kochi on Friday.
The Indian Cricket Board has incorporated strict guidelines in their 19-page 'Request For Proposals' (RFP) from interested companies.
The Vice Chief of Air Staff, Air Marshal Harjit Singh Arora took part in one such operation along with HAL test pilot, Wing Commander Subash P John (retd) recently by taking-off from high altitude location to a forward area for a simulated attack on a high altitude target, the Bengaluru-headquartered company said in a statement.
On Saturday, the aircraft made its first landing on the deck of INS Vikramaditya which was also a major milestone. Both the landing and take off by the aircraft put India among a select group of nations having the capability to design such a jet which can operate from an aircraft carrier.
The divestment of Bharat Petroleum Corporation (BPCL) may hit a fuel price hurdle, according to officials dealing with the matter. They pointed out that the inconspicuous administered price regime could hamper the prospects for potential buyers of BPCL. A senior oil ministry official said public-sector oil-marketing companies (OMCs) take a hit when they sell petrol, diesel, and liquefied petroleum gas (LPG), three of the most popular petroleum products in the country.
The RBI has shelved its plan for polymer notes more than a decade after it invited interest from global manufacturers for one billion pieces of Rs 10 denomination polymer banknotes, reveals Tamal Bandyopadhyay.
The BCCI Apex Council met, on Friday, to decide on a number of issues including apparel sponsorship, which is a significant if not huge income for BCCI.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.
Shortlisted bidders have been intimated
The Indian Air Force is planning to induct 20 more Hawk Advanced Jet Trainer aircraft from the British BAE Systems for its aerobatic team Surya Kiran which has been grounded since last year.
'The equipment that you make for us must be the best in the world so that it complements the Indian soldier who is without doubt the very best in the world.'
Suspense continued on Tuesday over whether the issue of Rafale fighter deal, which has been stuck over cost, will figure in talks that Prime Minister Narendra Modi will have with French President Francois Hollande during his visit beginning on Thursday.
The attorney general admitted that there is no sovereign guarantee, but asserted that there is a letter of comfort by France which would be as good as a governmental guarantee.
The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL. The other two bidders are said to be global funds, one of them being Apollo Global Management.
Ending months of speculation, India has finally selected Rafale as the best aircraft tailor-made to meet its requirements for at least the next decade and replace its ageing fleet of MiGs. But is it what India needs now to safeguard its skies?
A person in the know of the PIM details said an entity can put in bid for Air India on the "strength of its parent", which was not there before. A consortium can participate in the disinvestment process, provided each partner has at least 10 per cent stake as well as 10 per cent of the Rs 3,500 crore net worth requirement, according to the bid document. The lead member of a consortium should have at least 26 per cent stake. Individuals are allowed to bid as part of consortium.
HCL Infosystems has denied its association with Sakshat project of the ministry of human resource development to manufacture access and computing device to be priced $35 a piece.
Warship building projects worth at least Rs 630 billion have ground to a standstill. The defence ministry has halted tendering in wait for a government decision on whether to allow, or to exclude, Anil Ambani's shipbuilding firm from those contracts.
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