Finnish firm Nokia, which is selling its devices and services business to Microsoft, will pay the software giant 37.9 million euros (about $51.2 million) if the handset maker's shareholders oppose the deal.
Future Retail on Saturday said it has missed the due date for payment of Rs 3,494.56 crore to banks and lenders as it could not sell assets due to its ongoing litigation with amazon, impacting its monetisation plans. Future Retail had last year entered into a one-time restructuring (OTR) scheme for COVID-19 hit companies with a consortium of banks and lenders and was to discharge "an aggregate amount of Rs 3,494.56 crore" on or before December 31, 2021. Kishore Biyani-led Future group firm would be "co-operating for completing the monetisation of the specified business within next 30 days" as per directions of the banks to resolve the current situation, said a regulatory filing by Future Retail.
HP has been charged with underpaying customs duties while importing products and spare parts.
Online auto classified platform CarTrade Tech on Tuesday said it fixed a price band of Rs 1,585-1,618 a share for its nearly Rs 2,999-crore initial public offer. The initial public offering (IPO) will open for subscription on August 9 and conclude on August 11. The bidding for anchor investors will open on August 6, the company announced. The initial share-sale will be entirely an offer for sale (OFS) of 18,532,216 equity shares.
Elizabeth Holmes founded Theranos in 2003 and it promised ground-breaking methods that would allow quick results for a wide range of tests with just one drop of blood.
The payouts were 22 per cent lower than the previous year's tally of Rs 7,938 crore.
As Prime Minister Narendra Modi embarks on a tour of three European nations, India on Sunday once again called for the cessation of hostilities in Ukraine and resolution of the conflict through dialogue and diplomacy, noting that was an appreciation of its position on the crisis by its partner countries.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
The proscribed organisations will be examined under heightened security checks at all layers of legal, administrative, investigative and financial regimes, the Dawn newspaper reported.
Shah had pleaded guilty in 2012 to securities fraud in a parallel civil insider trading case case.
Reema Shah pleaded guilty to insider trading and cooperated with the US government for accepting insider info from a Yahoo! executive
Global e-commerce company Amazon has said it sees "substantial uncertainties" in interpretation of Indian laws, which could impact its business in one of the world's fastest-growing multi-billion dollar online shopping market.
He was convicted in his 2012 trial of passing confidential boardroom information to his one-time friend and business associate Raj Rajaratnam
A veteran journalist working for Al Jazeera was killed on Wednesday during an Israeli operation in the West Bank city of Jenin, prompting the Palestinian Authority (PA) and the Qatar-based network to blame the Israeli Army for her death.
'Where is the board's accountability in this whole transaction? The members of the earlier board who participated in approving and defending these acquisition are still in the current board,' the whistleblower said in a mail sent to US SEC and Sebi.
This month, advertisements for managing directors and the senior management team for the National Bank for Financing Infrastructure and Development or NaBFID, should be out, signalling the start of a financial institution (FI) like no other the country has ever had. For this and other reasons government managers associated with the NaBFID project are convinced it should remain a 100 per cent government-owned entity. This is somewhat different from what former economic affairs secretary Tarun Bajaj said when the NaBFID Bill was being tabled in Parliament earlier this year: "To begin with, it will be 100 per cent government owned.
US-based outsourcing firm iGate on Wednesday said its net profit declined 89.6 per cent to $3.1 million for the quarter ended June 30, 2014 hit by a one-time charge related to a debt settlement.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
Aircraft manufacturer Embraer has agreed to pay over $205 million (over Rs 1,371 crore) as settlement with American and Brazalian authorities for resolving corruption charges in India and three other countries.
At the minimum price of $16.50 a share, the BPO giant would buy back at most 1.82 bn shares, or about eight per cent of its outstanding common shares as of February 28.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
US mutual funds Valic Co 1 and Fidelity Rutland Square Trust II, which have minority stake in Flipkart, have marked down the value of their stocks in the company
A Sri Lankan court on Tuesday ordered the release of 56 Indian fishermen who were detained for allegedly fishing in the island nation's territorial waters.
US e-commerce giant Amazon has written to the independent directors of Future Retail Limited (FRL), including Gagan Singh, Ravindra Dhariwal and Jacob Mathew, and its audit committee, providing data and alleging that there have been significant financial irregularities to the prejudice of public shareholders, banks, creditors, and third-party suppliers. Amazon has said this warrants a thorough and independent examination of all relevant facts and related-party transactions, including of past financial years, by an independent agency. Separately, Amazon has written to Securities and Exchange Board of India Chairman Ajay Tyagi, seeking the withdrawal of the regulator's conditional approval granted to FRL related to the merger deal between the Future group and Reliance.
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
The wet market was where a variety of live animals were traded until it was shut down following fears that the coronavirus had jumped to humans either from bats or pangolins.
Embraer cannot escape Indian laws just because it has struck a settlement with American authorities, Parrikar said.
The Gupta case is SEC v. Gupta, US District Court, Southern District of New York, No. 11-07566.
I kept insisting that Rs 100 notes were in short supply and there was an urgent need to augment the supply of 100 rupee notes while also rapidly bringing into circulation the proposed new Rs 500 notes. But this was easier said than done because all the note printing machines of the RBI were programmed for printing Rs 2,000 notes and required at least three weeks before the machines could print the new Rs 500 currency notes. The availability of currency paper posed another major bottleneck, and it had to be imported. It was decided to immediately start printing the Rs 500 notes. It was only when the supply of the new Rs 500 notes started improving and the process of change of cassettes at the ATMs gathered momentum that the situation began limping back to normal. A fascinating excerpt from former SBI chairman Rajnish Kumar's The Custodian of Trust: A Banker's Memoir, five years after demonetisation, November 8.
India is among 75 countries with which Switzerland's Federal Tax Administration has exchanged information on financial accounts within the framework of global standards on Automatic Exchange of Information.
XTI Aircraft, a Denver, Colorado-based aerospace startup firm, launched an equity crowdfunding campaign.
India and China on Tuesday agreed to "jointly deal with security threats" and take measures to strengthen cooperation in combating terrorism during their first dialogue on counter-terrorism and security in Beijing, amid Indo-Pak tensions following the Uri terror attack.
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.
Armed with fresh powers to conduct search and seizure operations and attach properties and bank accounts, the Securities and Exchange Board of India (Sebi) is going all out to use these effectively.
In September 2013, FMC was brought under the Finance Ministry.
The company has pointed at the possibility of fines and financial penalties.
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
The Ministry of External Affairs said on Tuesday the Charge d'Affaires of Pakistan High Commission was summoned and informed about the decision which was based on instances of involvement of Pakistani officials in 'acts of espionage' and 'dealings with terrorist organisations'.
A full panel of the 2nd US Circuit Court of Appeals yesterday denied Gupta's petition for 'panel rehearing, or, in the alternative, for rehearing en banc'.
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