'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Here's a glimpse of all that happened around the world last week, in 10 images
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
A round-up of our favourite photographs from the week gone by.
Top moments from around the world in the week that was.
Here's your weekly digest of odd, crazy moments from around the world
India's economy will do well once vaccination reaches a critical mass as pent up demand, global recovery and easy financial conditions will boost activities, RBI's Monetary Policy Committee (MPC) member Ashima Goyal said on Tuesday.
A dossier will be given to the FATF, an international terror financing watchdog.
'My fight for my son and against the misdeeds of the neighbouring country's army needs to be highlighted at the international fora'
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
Leaving behind the luxe life and dapper suits of foreign banks, Puri and his team at the upstart venture shared fizz drinks, wore a footwear brand popular among the middle class, shared a rat-infested space in a yet-to-be gentrified work space to plan and execute it.
The Tamil Nadu Assembly on Friday passed a bill providing internal reservation of 10.5 per cent for Vanniyars, a most backward community in government jobs and in admission to educational institutions.
The loss to Sri Lanka has left England's quarter-final chances hanging in the balance and reliant on them beating Bangladesh in Adelaide on March 9. A wash-out would end their hopes.
Taking to Twitter, Modi said that the Kashi Vishwanath Dham project will add to Kashi's spiritual vibrancy.
Billionaire Mukesh Ambani's oil-to-telecom conglomerate Reliance Industries Ltd slipped 59 places to rank 155th on the 2021 Fortune Global 500 list released on Monday. Reliance took a beating on the rankings as revenues dropped owing to the COVID-19 pandemic. This is its lowest ranking since 2017. Walmart continues to top the Fortune list with a revenue of $524 billion, followed by China's State Grid at $384 billion.
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
According to an air traffic controller at Jomsom Airport, they was an unconfirmed report about a loud noise reported in the Ghasa region of Jomsom, according to the Post report.
'I reached Bhopal the day after the gas tragedy; the smell was still in the air. It was a professional hazard but I was not scared.'
Rediff.com brings you a selection of images of fans taking to the field of play to make a point or gain attention.
As violent protests against the new recruitment scheme Agnipath raged across several states, the government on Thursday issued a clarification, asserting that not only the new model will bring in new capabilities to the armed forces but will also open up avenues for youth in the private sector as well as help them in becoming entrepreneurs with the aid of the financial package.
'There are deeper, underlying, forces at work and we need institutional arrangements to guard against them.'
This visit has ended on a vastly different note in comparison with Modi's previous visits. Call it a rebuke, call it a censure, call it a distancing from Modi, the sharp message would have gone home, observes Ambassador M K Bhadrakumar.
Uncertainties on account of COVID-19 pandemic have increased the demand for currency notes not only in India but across the globe, official sources said, dismissing the criticism that demonetisation has failed to reduce cash in the economy. Government sources said that growth of the digital payments system post-demonetisation will ultimately curb the dependence on cash. Official data points out a jump in digital payments through different modes, including plastic cards, net banking and Unified Payments Interface (UPI).
The Bal Puraskar was conferred by Prime Minister Narendra Modi, who gave digital certificates to the awardees using blockchain technology developed by IIT Kanpur.
'If one crore is sanctioned to make a road, they spend only Rs 40 lakhs and the remaining 60 lakhs is looted by the politician, bureaucrats and the contractor.'
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
Stating that pushing GDP growth, which has slipped to 5-year low of 6.8 per cent in 2018-19, is the top priority, President Ramnath Kovind said Modi govt will bring more reforms and raise farm investments to boost growth.
England will be determined to get their act together against defending champions Sri Lanka.
Many of the stories, the pictures going out of India worldwide lately with these provocative processions, taunting of Muslims, bulldozers targeting mostly their properties, the sweeping 'othering' of a community of 200 million are painting the front pages and TV screens in the democratic world. That is where most of the friends we covet lie. Soon enough, these will also make our vital friends among the Muslim nations, from Bangladesh to Saudi Arabia and the UAE, uneasy. The best time for course correction is now, asserts Shekhar Gupta.
Moody's Investors Service on Friday slashed its estimate of India's GDP growth during the 2020 calendar year to 2.5 per cent from an earlier estimate of 5.3 per cent, on account of the rising economic cost of the coronavirus pandemic.
Prime Minister Narendra Modi turned 70 on Thursday, and wishes poured in from top dignitaries, including the President and Vice President, Union ministers and leaders from across the political divide. The Bharatiya Janata Party is organising a number of events, mainly aimed at public service, across the country to celebrate Modi's birthday as 'Sewa Divas'.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
Sebi's move to curb volatility didn't work for the market as rules were applicable for both long and short positions which makes difficult new long positions while short positions caused more price damage due to lack of liquidity.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the country's economy has recovered stronger than expected from the initial impact of the COVID-19 pandemic, but there is a need to be watchful of demand sustainability after the end of festivities. Speaking at the annual day event of Foreign Exchange Dealers' Association of India (FEDAI), Das said there are downside risks to growth across the world and also in India. It can be noted that the Indian economy contracted by 23.9 per cent in the first quarter of the fiscal year, and the RBI expects the economy to shrink by 9.5 per cent in FY21.
External Affairs Minister S Jaishankar said on Friday that India and China are going through a 'particularly bad patch' in their ties because Beijing has taken a set of actions in violation of agreements for which it still doesn't have a 'credible explanation' and it is for the Chinese leadership to answer where they want to take the bilateral relationship.
In the pitch dark of the African night, a herd of cape buffaloes gather at the watering hole for a drink, taking care to stay by the edge to avoid the crocodiles lurking in the depths. In Gangiova, a village in Romania, a doctor places her stethoscope to the chest of a newborn baby, listening intently for the beating of his tiny heart. These are just some of the moments that have been picked by the judges for the Sony World Photography Awards. For the 2017 competition, photographers entered 227,596 images across the awards' Professional, Open and Youth categories. The Open competition winner will receive $5,000 (Rs 3.3 lakh), Sony digital imaging equipment and flights and accommodation to the awards ceremony at Somerset House in London. Sony World Photography Awards has been kind enough to share some of their shortlisted pieces with us.
The much-awaited annual event of Kumbh Mela, one of the largest religious gatherings in the world, is slated to be even bigger and better in 2019. Although it is usually spread over a 20 km radius, the Kumbh Mela -- set to begin on January 15 and continue till March 4 -- will be sprawled across 45 km this year. Authorities are expecting approximately 100 million visitors to come for a holy dip at Sangam, the confluence of the Ganges, Yamuna, and mythical Saraswati Rivers. Ahead of the festival, preparations are under full swing to construct 22 temporary pontoon bridges.
The pandemic has brutally highlighted the inadequacy of India's administrative systems. And, the government has demonstrated its culpable inability to speed up vaccination in a timely manner, says Jaimini Bhagwati.
Heavy rains pounded south and central Kerala on Saturday wreaking havoc in many parts with some people feared missing in the landslides that occurred in hilly areas bordering Kottayam and Idukki districts prompting the state government to seek the assistance of the Army and Air Force for rescue operations.
'Significantly, Foreign Secretary Gokhale was received at very high level in Beijing.' 'It only shows China's keenness to move forward and put the relationship on a 'win-win' footing,' says Ambassador M K Bhadrakumar.
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