Many, including DLF, Suzlon, UB, the Tata and the Aditya Birla Group are selling stake or assets to reduce debt and the strain on their balance sheets. That's because they have been hit either by slowing sales, or have a big exposure to markets in the West where demand has contracted sharply as a result of the economic downturn.
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.
Asked about top Swiss bank UBS AG, reeling under criticism for sheltering American tax evaders, agreeing to US government's demand for disclosure, Kochhar generally hedged queries saying Indian banks were not in that kind of business. Black money had become a major issue in the run up to the Lok Sabha polls in April-May, with BJP leader L K Advani claiming that $500 billion of Indian money was stashed in banks abroad.
United Spirits Ltd, owned by Vijay Mallya-controlled UB Group, is set to become the world's second-largest spirits firm by volumes, dislodging Paris-headquartered Pernod Ricard.
Swiss private bankers are likely to reduce their exposure to wealthy Indian clients as they cut down their discreet banking services in countries like Germany, France and the United States, analysts say.
Liquor-baron Vijay Mallya today virtually asked the Gujarat government to lift prohibition in force in the state.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
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
In a chat with Shivani Shinde, Cognizant vice-chairman Lakshmi Narayanan explained the rationale behind the current acquisition and the way ahead.
Jain, who, landed the top spot at Deutsche in 2012, had to resign following criticism from investors
European cities have emerged as the world's richest and most expensive places. By comparison, Indian cities are amongst the world's least expensive.
Several companies have hit on the idea of offering college freshers pre-job training to make them more employable.
RTI activist Anil Galgali had asked SBI about the total amount of loans given to the beleaguered businessman.
Mallya, who was scheduled to appear on April 2, had asked for a month's time; if he fails to appear on April 9, agency will seek a non-bailable warrant
Ranibai Rajaram Chhabria, mother of late Manohar Rajaram Chhabria, has challenged the merger of Shaw Wallace with the UB Group saying she was entitled to a fifth of her deceased son's estate.
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.
Low-cost carrier Simplify Deccan will be rebranded Kingfisher Red, a separate brand identity from Vijay Mallya-promoted full-service carrier Kingfisher Airlines.
Indians might be known for their hard work, but when it comes to their wages, they are paid nearly 20 times less than their counterparts in the developed nations like the United States and Switzerland.
Kingfisher Airlines, the two-year-old private airline promoted by liquor conglomerate UB, has decided to replace its pilots' gross salaries with a two-part pay structure based on the number of hours they fly.
Three leading international pharma companies have started due diligence to acquire Wockhardt Ltd's wholly-owned Irish generic drug company, Pinewood.
A staunch Brownite and an ex-UBS banker, Baroness Vadera will be designated as Minister for Economic Competitiveness and Small Business, a spokeswoman of 10, Downing Street said.
Kingfisher Airlines is looking to roll over close to Rs 800 crore of its short-term debt, even as it finalises the paperwork to borrow another Rs 1,500 crore from a few Indian public sector banks.
India, best-performing among emerging markets in the first four months of 2017, has since ceded this position to South Korea.
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.
UB Group Chairman Vijay Mallya made international headlines last Thursday when he bought Mahatma Gandhi's memorabilia for a whopping $1.8 million from an auction in New York. Mallya, who has announced that he plans to hand over the items to the Indian government, might have a long wait ahead of him. The US Justice Department has decided to probe the legality of the sale of the Gandhi memorabilia.
India may not charge import duty on personal artefacts of Mahatma Gandhi, which were bought by liquor baron Vijay Mallya in an auction at New York. Moreover, the country is also going to relax import restriction on all items of historical significance of Indian origin.A pair of steel-rimmed spectacles and sandals, a Zenith pocket watch, an eating bowl and a plate went under the hammer in New York and the UB Group chairman successfully bid for them for $1.8 million.
Dr Ravi Prakash's 250 vintage car collection includes J R D Tata's 1940 Buick Limousine and a Sunbeam-Talbot used by Lord Mountbatten.
UBS Investment Research in its latest report estimated that ONGC and GSPC may get at least $5.5 per million British thermal unit for natural gas they will pump out from their respective Krishna-Godavari basin blocks. RIL is to get a fixed price of $4.2 per mmBtu for gas it would produce from Dhirubhai-1 and 3 fields in KG-D6 block from December-January, for the next five years.
Vijay Mallya has ensured that his brands do not fall out of Indian Premier League (IPL) viewership, though his team Royal Challengers Bangalore bowed out of the tournament. After RC's series of defeats, the UB Group chairman decided to cash in on his smaller investments in rival teams such as Rajasthan Royals, Delhi Daredevils, Chennai Superkings and Mumbai Indians.
The debt-laden Kingfisher Airlines stopped operations in October 2012.
CEOs expect populist measures in the Budget, to help the poor and marginalised, who make up for the largest section of voters.
UB Holdings, which operates Kingfisher Airline, last year picked up a 26 per cent stake in Deccan Aviation for Rs 550 crore (Rs 5.5 billion). Subsequently, they made an open offer for acquiring another 20 per cent taking its holding to 46 per cent. The merger between Kingfisher Airlines and Air Deccan of Deccan Aviation, is now awaiting Karnataka High Court approval.
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
The Deccan brand, once synonymous with lost cost flying in India, will cease to exist after its merger with the Vijay Mallya promoted Kingfisher Airlines, which will takeoff for international destinations by August. "Deccan will cease to exist because after the merger there will be only one company and that will be Kingfisher Airlines," UB Group chief and Kingfisher Airlines Chairman Vijay Mallya told reporters in Baramati.
Panaya drags Q1 profits though revenue improves on the back of large deal wins, good traction in North America.
Liquor baron Vijay Mallya has dropped plans to contest the coming Rajya Sabha elections from Maharastra and seek re-election only from Karnataka. Admitting that he had talks with Shiv Sena leader Uddhav Thackery on possibilities of his contesting from Maharashtra, the head of the Kingfisher Airlines said he did not get a good response as 'Sena is not fully in favour of non-Maharastrians'.
Jeev Milkha Singh remained in the hunt for a second successive Asian Tour title after a solid four-under 66 left the seasoned Indian three strokes off the pace at the end of the penultimate round of UBS Hong Kong Open on Saturday. The Indian, who won the Singapore Open last week, has a total of 10-under 200 and is tied for the fourth spot with Englishman Oliver Wilson (65) leading the pack.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
The company has a wide-ranging client base spanning across consumer durables to retail groups like ITC, UB Group and WalMart. It is also in the process of designing various white goods for its clients in the consumer durable industry.
The first signs of the move will be evident when both the airlines announce their summer schedules in March after receiving the approval of the Directorate General of Civil Aviation. Deccan is likely to bring down and withdraw frequencies between Mumbai-Delhi in the schedule.
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