Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
The Villa, owned by United Breweries Holding, was mortgaged by KFA to SBI-led 17-bank consortium to obtain loans in 2010
The merits and demerits of the telcos' 5G strategy however is clearly dependent on the financial muscle of players, reports Surajeet Das Gupta.
Brookfield Asset Management will pay around Rs 29,000 per square foot for the 170,000 square feet of space in Jet Airways' two-floor office in Bandra Kurla Complex.
Jio's spectrum trading pact with Airtel has enabled India's largest telco to top-up its holding in three key circles and yielded potential savings of about $400 million, according to a report. It is pertinent to mention here that Reliance Jio has signed an agreement with Bharti Airtel to acquire a portion of spectrum in 800 MHz band for Andhra Pradesh, Delhi and Mumbai circles at an aggregate value of Rs 1,497 crore -- marking the first such deal between the two telecom giants that otherwise compete fiercely in the market. Market analysts have termed the deal "mutually beneficial" and "win-win for both". UBS in a note cited Jio's spectrum buys in the 800 MHz band in Andhra Pradesh, Delhi and Mumbai in the recently-concluded auctions.
The Indian Premier League has served as a huge platform for the upcoming cricketers to make their mark over the past 14 editions and the trend is expected to continue when the 2022 IPL season begins on Saturday.
He is the fourth leader of the Sharad Pawar-led Nationalist Congress Party, which is ruling in alliance with the Shiv Sena and Congress in Maharashtra, to face the heat from the central agency.
Sixty-eight paintings that once belonged to fugitive diamond merchant Nirav Modi will go under the hammer next week.
While the tax treatment does legitimise past crypto transactions, there is a possibility that any, or all, private cryptocurrencies will be banned in future.
That's the only way to convince those who have money to return to the bank fold, ditching other asset classes, says Tamal Bandyopadhyay.
Lenders to Venugopal Dhoot-founded Videocon Group will eventually take 50-55 per cent haircut and not 95 per cent as is being reported after considering about Rs 15,000 crore expected from the sale of the group's overseas oil and gas assets, its former CFO Rajneesh Gupta claimed. Videocon Industries Ltd, which is comprised of its consumer electronics business and interest in the Ravva oil and gas field, and its overseas oil and gas assets, mainly comprising of oil blocks in Brazil, are being auctioned separately to recover unpaid loans. While Anil Agarwal-led Vedanta Group has picked up Videocon Industries for Rs 2,962 crore, the bids for overseas assets are yet to be decided.
Concerned over inflationary pressures in the economy, the Reserve Bank of India (RBI) is bringing down surplus liquidity in the system rapidly. It has fallen to pre-Covid levels and almost 2 per cent of banks' net demand and time liabilities (NDTL). NDTL shows the difference between the sum of demand and time liabilities (deposits) of a bank (with the public or the other bank) and the deposits in the form of assets held by the other bank.
In three of Delhi's five wins this season, Marcus Stoinis has been the game-changer with the bat and ball.
Buyer actor-producer Sachiin Joshi, who owns Viiking Media, has reportedly bought the villa, spread over 12,350 sq ft or three acre at Candolim.
India may soon see a new set of oil barons with lesser-known companies venturing into crude oil and natural gas production. These new kids on the block have come up through a mix of entrepreneurial grit and backing from oil industry veterans. Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during the first round of Discovered Small Field (DSF-1) auctions. Adbhoot is in a 50:50 joint venture with the Bombay Stock Exchange-listed Hindustan Oil Exploration Company that has some five oil producing assets and over 10 blocks across the country.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
The country's reserve position with the International Monetary Fund also increased by $ 3.6 million to $ 3.344 billion.
Suryakumar took charge with MI tottering at 79 for 6 and added 72 off 41 balls with Jaydev Unadkat (13 no off 14 balls).
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
The government has not divulged the amount of the fine to be imposed on first-time offenders.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
AIG Rail Services Inc, a Chicago business that is part of AIG's financial-services division, was set up around five years ago and provides rail-car leases and equipment financing to shipping companies, railroads and others.
The Competition Commission of India (CCI) on Tuesday said that the proposed additional stake buy in United Breweries (UB) by Dutch major Heineken does not raise any competition concerns, effectively clearing the deal. In its order, the CCI said, "It is submitted that the proposed transaction does not give rise to competition concerns regardless of delineation of the relevant market for the purpose of this filing." UB is the country's largest beer company, while Heineken is the world's second-largest brewer after Anheuser-Busch (AB) InBev.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
State Bank of India has appointed valuer to assess the value of assets of Mallya.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
The shutdown has been complete in not only major cities like Kohima, Dimapur and Mokokchung, but even smaller towns such as Tuli, Jalukie, Pfutsero, CNCCI president Khekugha Muru told PTI.
The iconic Audi 100 won by Ravi Shastri at the 1985 World Championship of Cricket in Australia was restored back to its original glory and handed back to the former India captain and coach by Gautam Hari Singhania, chairman and managing director of Raymond, in Mumbai on Friday.
The change may give "secure creditors" the first right to auction an asset in order to recover the dues.
The 17-lender consortium, led by State Bank of India had put on auction the property with a reserve price of Rs 115 crore, which was 15% less than the second auction of the property held in August
The auction ahead of the ninth edition of the Indian Premier League had in store something on expected lines and some surprises. Here's a look at the top buys after the first round.
The base price for the property was set at Rs 150 crore (Rs 1.5 billion).
Welcome to Non-Fungible Tokens (NFT) - digital constructs authenticated using an abstract mathematical application. An NFT is a unique token added to some digital construct and registered on a blockchain with details of ownership. The construct itself might be free (it often is) but the NFT along with the construct is worth "more". The NFT market didn't exist until 2017 when "cryptokitties", or virtual cats, became available with NFTs. The market is now worth around $350 million. Speculators believe it is likely to be worth much more in future.
The judges said the group can sell 13 out of the 15 properties mentioned in one of the lists to deposit the amount.
The asset monetisation exercise in the first phase will help BSNL shave off its Rs 14,000-crore debt. The government has said that these firms are strategically important and will not be closed down or divested.
SBI-led consortium expects to make over Rs 13,000 crore from sale of assets
