Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit. In an open letter to the company's five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members. The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar.
Creating an LLM trained on Indian languages is not easy. Experts say each language in India has a nuance of its own, so creating a ChatGPT-like product is an ambitious challenge.
More than 750 eminent citizens, including historian Romila Thapar, economist Jean Dreze and actor Naseeruddin Shah, on Wednesday came out in support of a news website which is alleged to have received dubious funds to spread Chinese propaganda.
Nirav Modi, the fugitive diamond merchant wanted in India to stand trial on fraud and money laundering charges, told a UK court on Thursday that he could be in England for years as some ongoing proceedings prevent his extradition. The 52-year-old former billionaire appeared for a hearing at Barkingside Magistrates' Court in east London via video link from Thameside prison in relation legal costs, or fines, amounting to GBP 150,247.00, accrued over his failed extradition appeal proceedings in the London high court. Dressed in a pink prison-issue outfit and sporting a moustache, a plump and bald Nirav addressed the three-member magistrates' bench to reveal that he had complied with the previous court direction to pay in GBP 10,000 per month towards the fines.
Price growth of high value homes has been highest in emerging markets like Singapore, where prices have increased 144 per cent since 2005 and Mumbai, where prices have jumped 138 per cent in the same period.
Rishi Sunak married Akshata Murty in 2009, and the Prime Minister made a quick rise to power in the years that ensued.
'It is not his doing, but Rahul Gandhi is forced by circumstances.' 'In taking political decisions, everything has to get his clearance.'
Soros, dismayed by what he perceives to be the Bush administration's unilateralism abroad and its "authoritarian" politics at home, is on a crusade, the Newsweek magazine says in an article being published in its upcoming issue.
Buffett is not coming to only talk foreign direct investment in insurance and invest his billions in Indian equities.
Icahn on Tuesday told Time magazine that he filed a shareholder proposal with Apple on November 26, three days before the deadline for measures to be voted on at the company's next annual shareholders meeting.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
IT stocks have dropped about 3 per cent in the days since the Donald Trump administration took first steps toward visa reform and all of India's highest-profile technology tycoons have seen their net worth eroded. Saritha Rai reports.
Congress leader Rahul Gandhi on Sunday cited Delhi's alleged 'liquor scam' to accuse Telangana Chief Minister K Chandrashekar Rao of being under 'remote control' of Prime Minister Narendra Modi.
Russian billionaire industrialist Vladimir Potanin dismissed on Sunday a British press report that he was in line to buy into premier league soccer club Arsenal.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
Obama joked comfortably with the eccentric founder and executive chairman of Alibaba Group.
OceanGate was meant to explore the wreck of the sunken Titanic, in the Atlantic Ocean off Newfoundland, Canada.
Biden is not risking his reputation in a crucial election year, argues Ambassador M K Bhadrakumar.
Agatha Christie meets Vidya Balan in Neeyat, Mayur Sanap tells us after viewing its trailer.
About 40 per cent of sitting MPs have criminal cases registered against them out of which 25 per cent have declared serious criminal cases under charges of murder, attempt to murder, kidnapping and crimes against women, according to poll rights body Association for Democratic Reforms (ADR).
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
Amritsar-born entrepreneur John Nath Kapoor was arrested by the FBI for bribing doctors to over-prescribe a powerful opioid to patients.
For more than a decade, sockpuppets - some of them being company employees - created 'puffery' around tycoon Gautam Adani, his family and the apples-to-airport group he helmed by adding non-neutral material and removing warnings from information on Wikipedia, the free internet-based encyclopedia has alleged. Adani, a first-generation entrepreneur, has lost over $70 billion in net worth and slipped to 25th rank on the world billionaire index from being Asia's richest and the world's third most wealthy businessman, in less than a month. This followed US short-seller Hindenburg Research accusing the group of accounting fraud, stock price manipulation and money laundering, allegations that the conglomerate has repeatedly denied, and threatened legal action.
For that to happen, Moitra's much followed speeches should be heard outside Parliament so that the PR spins of the ruling dispensation are countered with informed debate, argues Shyam G Menon.
Texas billionaire Allen Stanford has given West Indies cricket US$100 million over three years in a bid to bring the game into the 21st century.
Scams, stuntswomen, pirates, freelancers, Sukanya Verma shows you everything you can catch on OTT this week.
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
The Supreme Court on Friday said it has no reason to "discredit" SEBI, which probed allegations against the Adani group, as there was no material before it to doubt what the market regulator has done and the court does not have to treat what was set out in the Hindenburg report as a "true state of affairs".
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Adani Enterprises, the flagship firm of billionaire Gautam Adani's group, has bought a close to 30 per cent stake in Start Enterprises Pvt Ltd, which owns the online train ticket booking platform Trainman. Adani Enterprises last month announced that it has signed a pact to acquire 100 per cent of SEPL In a stock exchange filing on Saturday, Adani Enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 per cent stake in SEPL for Rs 3.56 crore.
Sunak is in India along with his wife Akshata Murthy to attend the two-day G20 Summit.
Gautam Adani, India's and Asia's second-richest person, added $49 billion to his wealth last year - more than the net addition of wealth by the top three global billionaires Elon Musk, Jeff Bezos and Bernard Arnault, the 2022 M3M Hurun Global Rich List said on Wednesday. Mukesh Ambani, who runs the oil-to-retail conglomerate Reliance Industries, continues to be the richest Indian with a wealth of $103 billion, a 24 per cent rise year-on-year. Adani, the head of ports-to-energy conglomerate Adani Group, is a close second with his wealth surging 153 per cent to $81 billion.
US technology company NVIDIA and billionaire Mukesh Ambani's Reliance Industries on Friday announced a partnership to build AI supercomputers in India. "The companies will work together to build AI infrastructure that is over an order of magnitude more powerful than the fastest supercomputer in India today," the firms said in a statement. Days before the announcement, NVIDIA founder and CEO Jensen Huang met Prime Minister Narendra Modi on Monday.
Sachin and his wife Anjali talked charity and philanthropy with Gates and the Indian cricket legend posted photos of their meeting with the tech giant on his Twitter handle.
When billionaire Warren Buffet started his first fund in 1956 with eleven investors, he invested a token amount of $100 of his own money as "skin in the game". Buffet denies it but he is credited with coming up with the term describing those running a fund risk some of their own money in it. The mutual fund (MF) industry has more than Rs 81,200 crore riding on its schemes, shows a Business Standard analysis of data on sponsor and associate contributions from the Association of Mutual Funds in India (Amfi).
A plea has been filed in the Supreme Court for initiation of contempt proceedings against the Securities and Exchange Board of India (SEBI), alleging it has violated the timeline for completing the investigation and submitting its report on the allegations of stock price manipulation by the Adani group. An application has been filed by PIL petitioner Vishal Tiwari saying that despite the deadline given to the SEBI it has failed to comply with the direction of the court and has not submitted the final conclusion/report as was directed by the court. It said by the order dated May 17, 2023, the apex court directed SEBI to submit its report till August 14, 2023.
Prime Minister Narendra Modi praised the stellar achievements of Indian Americans in his remarks at the state dinner in which he had his high-profile guests often in laughter.
India gets its first basmati billionaire family. The promoter family of KRBL reaps gains from high demand for basmati in India and overseas. The company had a stock of 300,000 tonnes of rice as of September 30.
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