Diversified business group Videocon on Friday said it has obtained licence to start its Direct-To-Home (DTH) services and expects to launch it by mid-September.
Videocon Group on Monday said it was considering setting up a new manufacturing unit for consumer durables in Dubai.
Applicants have also in the past expressed fear about higher capital requirements, stringent priority sector lending norms and rules on promoter shareholding as key deterrents.
The Bombay high court on Thursday granted bail to Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, in a money laundering case registered by the Enforcement Directorate (ED). Kocchar had approached the high court after a special court in Mumbai rejected his bail in December last year. Justice P D Naik of the high court granted bail to him on merits on Thursday.
It plans to offer 4G data with voice at rates 15-25 per cent lower than those of its competitors just as it has done with its TV sets. Many say it might be a recipe for disaster.
The operator is planning to turn aggressive in adding subscribers.
The asset it owned by Venugopal Dhoot and a US oil and gas explorer.
Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
The CBI on Wednesday called Loop Telecom, CEO Sandeep Basu, Chairman of Shyam group Rajiv Mehrotra, former telecom minister A Raja's brother A K Perumal and close aide Sadiq Batcha, for questioning in relation with the 2G spectrum scam.
At a time when headline inflation has been moderating, most were expecting the central bank to take a firmer stance on growth.
Videocon starts race, says will bid in eight circles, expects 5-MHz spectrum to go for Rs 20,000 crore
In a communiqu to the Bombay Stock Exchange, the Rs 700-crore company said the Registrar of Companies, Maharashtra, approved the name change.
The World Bank has blacklisted Videocon Industries on allegations of fraud and corruption for three years.
Most expect a 25 bps rate hike today, but want pause.
Releasing a report on manufacturing sector in India, Venugopal Dhoot, promoter of Videocon and past president of Assocham, said state governments should restrict their roles only to infrastructure-related issues and manufacturers should themselves talk to farmers on land acquisitions. He said the formula of employment, equity and money should be used to compensate farmers and if they wanted land for land, they should be given that.
The Central Bureau of Investigation on Monday told a special court here that former ICICI Bank CEO and MD Chanda Kochhar misappropriated the lender's funds for personal use. The probe agency, represented by special public prosecutor A Limosin, made this argument while urging the special court to take cognizance of the chargesheet filed against Chanda Kochhar, her husband Deepak Kochhar and others in a case pertaining to cheating and irregularities in sanctioning of loans to Videocon Group firms. Chanda Kochhar was MD and CEO of ICICI Bank between May 2009 and January 2019 in which capacity she was entrusted with the Bank's funds, the CBI told court.
Consumer electronics and home appliances company Videocon, plans to invest a sum of Rs 10,000 crore (Rs 100 billion) in Madhya Pradesh for setting up a power plant, television manufacturing unit and for building a hospital, a top company official has said.
India Inc on Tuesday sought tax cuts in the forthcoming Budget, even as it asked the government to move towards an effective goods and services tax rate of 15 per cent in the next few years.
The consensus is that a high interest rate regime, now a certainty, will increase costs, slow down demand and hit profitability. CEOs said margins were already under substantial pressure due to high energy prices. The only way to survive in this scenario is to cut costs, put brakes on new expansion plans and increase efficiencies.
Videocon chairman and managing director Venugopal Dhoot refused to confirm industry reports that the deal was inked on Tuesday morning, citing a non-disclosure agreement signed between the two parties a few days ago in Mumbai.\n\n
The Videocon group, which signed a memorandum of agreement (MoA) with the West Bengal government for a Rs 15,000 crore (Rs 150 billion) steel and power project last month, has directly negotiated with land losers near Asansol for 2,000 acres.
Confirming the development, Chairman Venugopal Dhoot said, "We will use the CDMA technology for mobile services in the country."
Indian industry still recoils at the idea of bringing a law for job reservation in the private sector, but is ready to work on the concept with some fiscal rewards from the government.
Indian industry still recoils at the idea of bringing a law for job reservation in the private sector, but is ready to work on the concept with some fiscal rewards from the government.
Diversified group Videocon Industries on Wednesday said it may sell up to 26 per cent stake in the company to foreign players.
Large steel producers had reduced prices up to Rs 4,000 per tonne on request of Prime Minister Manmohan Singh on May 7. They had also agreed to hold the price line for the next three months. The three-month price moratorium expires in August.
The Videocon group would set up a BPO unit at Salt Lake, Kolkata, employing 25,000 people, its chairman Venugopal Dhoot said on Thursday.
Videocon group has signed an agreement with West Bengal government to set up a steel plant and a power project in the state with total investment of about Rs 15,000 crore.Videocon, which already has interests in oil and gas, plans to establish a three million tonne steel plant and a 1,200 MW thermal power project in Asansol-Durgapur area in Burdwan district.
Videocon Industries Ltd will spend Rs 2,000 crore (Rs 20 billion) for oil exploration and production activities, including Rs 800 crore ($183 million) abroad as part of its business plans.
Zeev Leshem, Chief Operating Officer, Fortune online lottery, says the Indian online lottery market is big enough to accommodate at least five operators.\n\n\n\n
A special court in Mumbai on Saturday remanded ICICI Bank's former CEO and MD Chanda Kochhar and her husband Deepak Kochhar in the custody of the Central Bureau of Investigation (CBI) till December 26 in connection with alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The Kochhars were arrested by the probe agency on Friday night after a brief questioning session. The CBI has alleged that they were evasive in their response and did not cooperate in the investigation.
A special court in Mumbai on Tuesday remanded Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, to ED custody till October 17. Deepak Kochhar was arrested by the Enforcement Directorate in September under the Prevention of Money Laundering Act (PMLA) in the ICICI Bank-Videocon money laundering case.
The Bombay high court on Monday granted bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case, saying their arrest was not in accordance with the provisions of law. A division bench of Justices Revati Mohite Dere and P K Chavan held that the arrest of Kochhars was in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending notice for appearance before the police officer concerned. The couple was arrested by the Central Bureau of Investigation (CBI) on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
A Mumbai court on Tuesday rejected a bail plea of businessman Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar and an accused in a money laundering case. He was arrested by the Enforcement Directorate (ED) in September under the Prevention of Money Laundering Act (PMLA) in the alleged ICICI Bank-Videocon money laundering case. Special PMLA judge P P Rajvaidya rejected the `regular' bail application of Deepak Kochhar, filed on merits of the case as against technical grounds.
It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
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