The government has given a go-ahead to State Bank of India and other financial institutions to take over capital-starved Yes Bank, and an announcement is likely to be made soon, highly places sources said on Thursday. The board of SBI, the country's largest lender, is meeting in Mumbai on Thursday, but it could not be immediately ascertained whether the takeover of Yes Bank is on the agenda. Yes Bank, which is grappling with bad loans, is looking to raise fresh capital but the plans are facing uncertainties.
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
The agency had received intelligence inputs that a huge amount of "unaccounted" cash is lying at the groups properties at Delhi and Noida.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Once a stock market darling, the jewellery chain heads for liquidation.
The plane lost contact with air traffic control officials and landed in Mumbai after around four hours.
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
Maruti Suzuki India is facing stiff resistance from private sector mutual funds and insurance companies, which own almost 7 per cent of the company, for its decision to allow Suzuki to make cars for the Indian car-maker at a proposed plant in Gujarat instead of manufacturing vehicles itself.
Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons. The founders were exploring several other options, including coming out with a counter open offer, with the backing of a financial investor.
The pilots have been "derostered" pending investigation, Air India Express later said in a statement.
The BKC commands Rs 28,000-29,000 per sq ft for office property and monthly rents are Rs 250-300 per sq ft
Higher levy on dividends earned by individuals also on radar.
India's largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to Rs 16,000-crore share buyback programme will commence on December 18 and close on January 1, 2021. Last month, TCS shareholders had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not exceeding Rs 16,000 crore.
Such platforms are good for novices, and help seasoned players test their investment strategies
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
After selling land in Gurgaon for Rs 1,211 crore recently, the Sahara group is believed to have finalised two more realty deals, one in Mumbai and another in Jodhpur, for Rs 1,250 crore.
From FY18, Ind-AS will be mandatory for all listed entities, barring those listed on the SME platform.
L&T had also sought shareholders' approval to raise $600 million through a qualified institutional placement.
Sahara group confirmed the development but expressed ignorance as to why this action was being taken against it.
FIIs fear short-term capital gains would give rise to tax uncertainty and make their operations difficult, reports Pavan Burugula from Mumbai.
Legal hurdle cited in I-T action against 32,000 entities.
Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
'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 deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
The decision was taken at a board meeting of Sebi held in Mumbai.
Justice Misra, 63, has been a part of several key verdicts.
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
NSE's own handle @nseindia was content tweeting out the press release in seven tweets.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
The regulator also said that it would have a re-look at the delisting guidelines.
Ambani said, in the telecom space, the focus will be on debt reduction, and the virtual merger did away with the need for major capex and will help towards this
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
The regulator will conduct forensic audit of all the seized documents, laptops, and mobile phones, which are suspected to be involved in the fraudulent activity, reports Shrimi Choudhary.
Investigation to be over by weekend, Mumbai police EOW to lodge FIR thereafter.
The Sebi chief said that although the idea of an SRO has been challenged in court, he is hopeful of its implementation.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances