Fortis Healthcare, promoted by former Ranbaxy owners Malvinder Singh and Shivinder Singh, will raise Rs 1,000 crore (Rs 10 billion) through a rights issue by the first week of August, to fund its expansion plan.
Last week, after months of scrutiny, the Forward Markets Commission, the regulator for futures trading in commodities, approved a proposal from state-owned MMTC Ltd and finance-to-real estate group Indiabulls to set up a national multi-commodity exchange.
Following hectic negotiations, Fortis Healthcare managing director Shivinder Singh and Naresh Trehan have finally smoked the peace pipe
The company said this was 'important' to reinforce the 'complete disassociation' from its erstwhile promoters -- Malvinder and Shivinder Singh.
Headhunters said the demand for foreigner CEOs is coming from companies that have developed a global footprint and sectors which do not have enough talent in the country -- hospitality, insurance, retail and power, for instance. They are meant to fill a need gap and are not just trophies on display.
In yet another major Indian takeover, Religare, a financial services company owned by prominent businessmen Malvinder and Shivinder Singh bought London's oldest stockbroker, Hichens, Harrison & Co on Friday. The deal is seen as another example of India's growing economic clout overseas. Two weeks ago, Tata Motors bought the prestigious Jaguar and Land rover models from Ford.
This was apparently done to avert any decision by the Manipur assembly on the controversial Armed Special Powers Act.
The fresh charges against Chandrashekhar pertain to Rs 3.5 crore that Malvinder Singh's wife Japna is alleged to have paid after she was conned that this money would be used to bail her husband out.
The Delhi police has prepared a list of 100 odd questions that actor Jacqueline Fernandez has been asked to answer in the alleged Rs 200 crore scam.
DLF has entered into an agreement for floating a joint venture with Ranbaxy group company Fortis Healthcare to set up hospitals across the country with about Rs 6,200 crore (Rs 62 billion) of investments.
Financial services group Religare Enteprises Ltd on Tuesday announced a top level management rejig with promoters - incumbent Chairman Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh - stepping down as members of the board.
The police said ever since Chandrasherkar has been jailed, the prison had become a hub of illegal activities which he carried out with the help of jail officials.
Pennsylvania-based Customers will buy shares worth $22 million from the founders.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
One reform that Malvinder couldn't do was that of the company's board of directors. For long, doctors and scientists have been inadequately represented on the Ranbaxy board. The new owner will have to address this problem.
Chandrashekhar is accused of cheating many people, including high-profile individuals such as former Fortis Healthcare promoter Shivinder Mohan Singh's wife Aditi Singh.
Fatehi was questioned at the Mandir Marg office of the EOW for hours on Friday.
In 2013, Daiichi had launched the arbitration proceedings in Singapore.
From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
The actor was accompanied by Pinki Irani who allegedly introduced her to Chandrashekhar, a senior police officer said.
Daiichi alleged that Singh brothers had concealed and misrepresented critical information concerning US Food and Drug Administration and Department of Justice investigations into Ranbaxy
The ED in April provisionally attached Rs 7.27 crore funds of the actor under the PMLA apart from Rs 15 lakh cash as the agency called these funds as "proceeds of crime".
Made possible through calculated decision on an unforeseen development.
Piramal Healthcare and SRL have entered into an agreement for SRL to acquire Piramal Diagnostics Services Ltd, Piramal said in a filing to the Bombay Stock Exchange.
The 36-year-old actor has been questioned two-three times by the agency in the said case earlier.
It is alleged that Chandrashekhar to purchase gifts for Fernandez used illegal money, extorted by cheating high-profile people including former Fortis Healthcare promoter Shivinder Mohan Singh's wife Aditi Singh.
Facing arbitration claims by Daiichi Sankyo, Ranbaxy's former Indian promoters - Malvinder Mohan Singh, his brother Shivinder Mohan Singh and family - are counting on certain clauses in the share purchase agreement (SPA) signed with the Japanese company on June 11, 2008, to claim immunity from damages.
CJI Lalit concurred with the minority view of Justice S Ravindra Bhat who held the EWS quota as "unconstitutional" for excluding poor among SCs, STs and OBCs.
Bollywood actor Jacqueline Fernandez, being probed in a Rs 200 crore extortion case involving alleged conman Sukesh Chandrasekhar, on Wednesday withdrew her application filed before a Delhi court for suspending a lookout circular (LOC) issued against her and permit her to travel abroad.
Delhi police spokesperson Suman Nalwa said that Irani, a resident of Mumbai, has joined the investigation at the economic offence wing office.
Sources said the actor will be questioned about some more issues related to Chandrashekhar.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
AAP alleged that the BJP had struck a deal with the "conman sitting in Tihar''.
Bollywood actor Nora Fatehi was on Thursday questioned for nearly five hours by Delhi Police's Economic Offences Wing for investigation in connection with an extortion case linked to alleged conman Sukesh Chandrashekhar, officials said.
Top 100 billionaires see their wealth rise 10%; top 20 account for half of total wealth of top 100.
The agency had earlier questioned actor Jacqueline Fernandes in this case. She is expected to depose again before the agency on Thursday.
The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23, the next date of hearing.
Actor Jacqueline Fernandez appeared before the Enforcement Directorate on Wednesday for questioning in connection with an over Rs 200 crore money laundering case being probed against alleged conman Sukesh Chandrashekar, officials said.
She is understood to have cited professional engagements as the reason for her absence. The probe agency may issue her a fresh date.
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