The annual meet also saw some shareholders of the country's second largest IT services company raising concerns over falling operating margins. But many congratulated the management for delivering good FY20 performance despite the tough economic conditions.
Other corporate leaders, including Biocon chief Kiran Mazumdar Shaw, UB Group Chairman Vijay Mallya and Mahindra Group vice-chairman Anand Mahindra, have also expressed concerns over the current state of economy in the country.
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
A more proactive government and some level of fiscal discipline are needed to sustain the current rally, says Suresh Mahadevan, managing director and head of equities, UBS Securities (India).
Mallya and his UB Group companies, including Kingfisher Finvest, held a 32.12 per cent stake in the airlines as of September.
Global financial majors, who until recently viewed India as a safe investment decision, are having second thoughts.
Kingfisher said the price was arrived in accordance with the pricing guidelines prescribed under the Securities and Exchange Board of India, which is the average of the past six months' price, 30 days prior to the relevant conversion date.
Calcutta HC dismisses United Bank of India's decision on technical grounds
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
IndiGo heads towards $400 mln IPO as air travel booms.
There are some cities in the world where earnings are really high.
The move also comes against the backdrop of the embattled Mallya facing a case of loan default worth Rs 9,400 crore.
SBI approaches Karnataka HC to arrest Mallya, impound passport, disclose full assets
After some initial take off turbulence, Gopinath is now actively steering the air cargo business steadily with equity infusion from Reliance Industries.
Finance Minister Pranab Mukherjee on Monday said he has noted reports about reservations Swiss banks have in sharing client details with India, but did not say what course of action the government would take.
The banks have asked the court to demand his return and to impound his passport.
Some of India's largest groups, including the Tata family controlled companies, the Ambani family controlled Reliance and Vijay Mallya's UB Group, have pledged large stakes in their listed companies as collateral to lenders, new disclosure requirements reveal
The lenders, led by State Bank of India (SBI), are due to inform the Supreme Court of their decision on the offer at a hearing on Thursday.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Bollywood actor Salman Khan launched the Kingfisher Calendar 2011 in Mumbai over the weekend. Here's a look at the stars in attendance!
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
'Wine bars there are, in plenty, in Karnataka,' notes Alok Chandra.
The ED's fresh chargesheet against Mallya and his firms is likely to pave the way for him to be declared "fugitive" under a new Indian law.
Clearly, rich Indians have little confidence in India. Perhaps we are also chronically dishonest.
Swiss banks with secret accounts are known to hold substantial sums of money deposited by Indians. These funds amounting to billions of dollars were either illegally taken out of the country, or, were deposited in Switzerland and other tax havens instead of being repatriated to India.
India's latest GDP numbers do not signal robust economic growth in near term.
Mallya, once known as the "King of Good Times" for his flamboyant lifestyle, has until Friday to appear before an IDBI committee to explain why he should not be declared a "wilful defaulter".
Mallya is the first Indian ever to become the owner of a Formula One Team. The Netherlands-based Mol Family and Mallya have formed a consortium that is now the joint owner of Force India Formula One, which is also India's first-ever Formula One Team and represents India's first, truly global sports foray.
India's second largest private carrier Kingfisher Airlines plans to more than double its fleet strength by adding 67 more aircraft by 2016, according to an investors' presentation made by the company.
India's biggest airline IndiGo is set to file the prospectus next week for a domestic stock market listing.
The move comes when Kingfisher remains the only listed airline in India to have made losses in the third quarter of the current financial year.
In a ruling in May, a UK high court judge had refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that the consortium of 13 Indian banks were entitled to recover funds amounting to nearly 1.145 billion pounds.
State owned banks SBI and PNB were the top Nifty gainers along with ICICI Bank and auto shares.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
IT, e-commerce firms to raise the bar in recruitment, packages.
In a chat with Shivani Shinde, Cognizant vice-chairman Lakshmi Narayanan explained the rationale behind the current acquisition and the way ahead.
Search is on for reliable indicators of underlying activity.
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
Prospective bidders had earlier termed the reserve price as too high, while multiple legal woes of Mallya-led UB Group are also being cited by many as reasons for lack of interest in buying this property
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances