A Delhi court on Wednesday sent former MD and CEO of National Stock Exchange Ravi Narain to two days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping on stock exchange employees. Special Judge Sunena Sharma allowed ED's plea seeking Narain's custody till September 9 after the accused was produced before him by the probe agency. ED's Special Public Prosecutor N K Matta told the court that Narain was required to be confronted with other accused persons and evidence in the matter to unearth the larger conspiracy in the matter.
A Delhi court on Wednesday sent former Mumbai Police Commissioner Sanjay Pandey to nine days' custodial interrogation by Enforcement Directorate in a money laundering case related to alleged illegal phone tapping and snooping of stock exchange employees. Special Judge Sunena Sharma allowed ED to quiz Pandey after the agency said he was required to be confronted with other accused in the case. Additional Solicitor General S V Raju, appearing for the ED, moved an application seeking Pandey's 14-day custodial interrogation, saying the former Mumbai Police Commissioner committed an unlawful act of tapping of MTNL phones, for which purpose Rs 454 crore was paid, and becomes proceeds of crime.
Axis Bank on Wednesday said it has completed the acquisition of Citibank's retail business in India for a final cash consideration of Rs 11,603 crore. The sale excludes Citi's institutional client businesses in India. The third-largest private sector bank said the acquisition, announced first in March last year, will not necessitate any new capital requirements and stressed that the attrition numbers on customers are much better than expected.
Tulsi Tanti, the founder chairman and managing director of Suzlon Energy and a renowned expert on renewable energy, died due to cardiac arrest on Saturday evening. Tanti, 64, who was also the chairman of the Indian Wind Turbine Manufacturers Association, was on his way to Pune from Ahmedabad when he suffered a cardiac arrest, a company official said. He is survived by his daughter Nidhi and son Pranav.
'Dharavi will be completely slum free by 2040'
The duty hike on cigarettes by 16 per cent announced in the Union Budget 2023-24 would have a nominal impact of around 7-12 paise per stick across cigarette categories, according to experts. This upward revision in National Calamity Contingent Duty (NCCD) would have negligible impact on smokers and the companies could easily absorb the shock as it may not also have any resultant impact on margins, they said. Finance Minister Nirmala Sitharama in the Union Budget for 2023-24 on Wednesday proposed to revise and increase the duty on cigarettes to about 16 per cent.
Jet Airways is in an advanced stage of talks with aircraft makers and lessors to lease planes and expects to restart operations in the coming weeks, according to executives at the airline. The once-storied carrier is now under the ownership of the Jalan-Kalrock consortium and its air operator certificate was revalidated by aviation regulator DGCA in May this year. The executives said the operations of Jet Airways will commence before the end of this year and the initial fleet plan is close to being finalised.
Benchmark BSE Sensex gained 130 points on Friday after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data. Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22 per cent higher at 59,462.78 in a range-bound trade. The broader NSE Nifty advanced 39.15 points or 0.22 per cent to close at 17,698.15.
Benchmark BSE Sensex and Nifty closed lower by nearly 1 per cent on Tuesday amid fresh foreign fund outflows and mixed global trends. The 30-share BSE benchmark fell by 497.73 points or 0.89 per cent to settle at 55,268.49, extending its losses for second straight day. During the day, it tanked 562.79 points or 1 per cent to 55,203.43. The broader NSE Nifty declined by 147.15 points or 0.88 per cent to 16,483.85.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
Newly floated Indian Secular Front had initially demanded 15 seats from the Congress, but the party had agreed to give only five to it.
The Bombay high court on Tuesday directed the Central Bureau of Investigation to file by Friday its affidavit in response to a petition of Videocon Group founder Venugopal Dhoot, seeking to quash an FIR registered in a bank loan fraud case, to declare his arrest as "arbitrary and illegal" and to be released on bail. When the plea came up for hearing, advocate Kuldeep Patil asked for one-week time to seek instructions on the same. A division bench of Justices Revati Mohite Dere and P K Chavan said the agency shall file its affidavit by Friday and posted the petition for hearing the same day (January 13).
The Rashtriya Janata Dal national executive meeting on Sunday witnessed a ruckus as RJD supremo Lalu Prasad Yadav's elder son and Bihar cabinet minister Tej Pratap Yadav came out of the meeting fuming and called the party's national general secretary Shyam Rajak an agent of Rashtriya Swayamsevak Sangh.
The Bombay high court granted interim bail to Videocon Group founder Venugopal Dhoot on Friday, nearly a month after he was arrested by the Central Bureau of Investigation (CBI) in the ICICI Bank-Videocon loan fraud case. A division bench of Justices Revati Mohite Dere and P K Chavan granted bail to Dhoot on a surety of Rs one lakh. The court permitted him to furnish cash bail and then deposit the surety amount two weeks thereafter.
These are obviously not 'organic' desertions but brought about under intense military pressure, post the 9/5 arrests. It seemed as if the party was being dismantled the same way it was brought into power!, notes Rana Banerji, who headed the Pakistan desk at RA&W, India's external intelligence agency.
India's industrial production growth decelerated to a four-month low of 2.4 per cent in July, mainly due to poor showing by manufacturing, power and mining sectors, according to official data released on Monday. The data showed that the previous low in industrial output growth was recorded at 2.2 per cent in March this year. IIP grew 6.7 per cent in April, 19.6 per cent in May and 12.7 per cent in June.
Benchmark indices declined for the third day running on Tuesday, with the Sensex tumbling 567.98 points amid weak global markets and continuous foreign funds outflow. Investors were risk averse ahead of the RBI's policy decision on Wednesday, traders said. The 30-share BSE Sensex tanked 567.98 points or 1.02 per cent to settle at 55,107.34.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
Vedanta investors were jittery on Tuesday as its share price fell and bond yields of its parent firm rose following concerns raised by a rating agency on its capability to repay debt maturing later this year. Shares of the mining and metals major were down by 7 per cent on Tuesday to Rs 268 a piece on the BSE. The company has lost market valuation of 30 per cent in the last one year and 13 per cent since January 1 this year. Yields on the bonds of Vedanta Resources, the parent firm of the BSE-listed Vedanta, shot up to 39.8 per cent - showing investors' rising concern over the group's debt situation
The RBI's decision to hike repo rate will hit consumers' buying sentiment, but will have a moderate impact on housing sales in the affordable and mid-income categories, according to industry experts.
States have been told to prepare in advance to counter any impact of an adverse southwest monsoon.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
In the meeting, which has come at a time when the Gyanvapi mosque issue is being heard in courts, it was decided to build a platform for strengthening communal harmony in the country.
The Enforcement Directorate on Friday conducted multiple raids in connection with its money laundering probe into the alleged irregularities in the National Stock Exchange (NSE) co-location case, officials said. The central probe agency is covering nine premises in Delhi and neighbouring Gurugram including those of some brokers involved in the case, they said. The raids are being carried out under the provisions of the Prevention of Money Laundering Act (PMLA).
Judge Ravi Kumar Diakar, who had ordered the video survey of the Gyanvapi mosque complex in Varanasi, informed the Uttar Pradesh authorities on Tuesday that he had received a hand-written threat letter.
The country's largest private sector lender HDFC Bank on Tuesday announced a 0.35 per cent hike in lending rate. The hike, which comes a day ahead of the RBI's scheduled policy review, is the second such move from the lender in as many months, taking the cumulative hike to up to 0.60 per cent. The RBI had surprised all with a 0.40 per cent hike in key interest rates on May 4 to tame the inflation situation and is widely expected to follow up with further tightening of the policy on Wednesday.
SP chief spokesperson Rajendra Chaudhary said Akhilesh will not participate in the yatra, nor will any other leader from the party.
The CBI has arrested Sanjay Gupta, owner and promoter of Delhi based OPG Securities Pvt. Ltd, in connection with the NSE co-location scam in which brokers allegedly abused the facility to make gains by getting early access to the stock market, officials said on Wednesday. The agency has already arrested Chitra Ramkrishna, former CEO and managing director of NSE and Anand Subramanian, former group operating officer of the market, they said. Gupta was arrested on Tuesday night, four years after the agency had registered the FIR in the Co-location scam case against him and his company.
A fag-end sell-off dragged down benchmark indices in a choppy session on Friday, with the Sensex settling 49 points lower. The 30-share BSE Sensex, which traded in the green for most part of the day, came under selling pressure towards the end to close 48.88 points or 0.09 per cent lower at 55,769.23. During the day, it hit a high of 56,432.65 and a low of 55,719.36.
The Assam cabinet on Monday decided to book men who marry girls below 14 years in the state under the Protection of Children from Sexual Offences (POCSO) Act, Chief Minister Himanta Biswa Sarma said.
The pirzada said that the newly launched outfit might contest state elections from all 294 assembly seats.
'No matter how old or ill you may be, your thirst to excel as an actor remains intact.'
'They are not tom-tomming what a great thing the Supreme Court decision is.' 'If they say it was a great thing, the public will react because people suffered and are still suffering.'
The CJI said "news mixed with views is a dangerous cocktail".
Bengaluru-based Prestige Estates Projects recently said it aims to double its annual residential sales bookings to Rs 25,000 crore by FY26 from its current markets and others such as Mumbai, Pune and National Capital Region (NCR). The company's chairman and managing director Irfan Razaq tells Raghavendra Kamath about his plans to achieve the target and outlook for the real estate market.
Benchmark indices settled lower on Friday, with the Sensex declining 111 points on the back of a sharp fall in index heavyweight Reliance Industries. The BSE benchmark went lower by 111.01 points or 0.21 per cent to settle at 52,907.93. During the day, it tanked 924.69 points or 1.74 per cent to 52,094.25. The NSE Nifty dipped 28.20 points or 0.18 per cent to close at 15,752.05.
'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'
Congress general secretary and Uttar Pradesh in-charge Priyanka Gandhi Vadra will flag off three Pratigya Yatras from Barabanki on Saturday to take to the people various resolutions adopted by the party ahead of the 2022 assembly elections.
