British-Pakistani billionaire businessman Shahzada Dawood and his son Suleman were also on the sub, the BBC reported on Tuesday.
Six entities including four foreign portfolio investors (FPIs) are under lens for suspicious trading in Adani group shares prior to the release of the damning Hindenburg report, the Supreme Court-appointed expert committee has said. There was a build up of short positions in the Adani scips prior to the January 24 release of the Hindenburg report, and substantial profits were booked thereafter as stocks crashed, the 178-page report said. A "short" position is generally the sale of a stock one does not own.
Two Adani group companies -- Adani Enterprises and Adani Transmission -- have uprooted the traditional leader Reliance Industries in annual wealth creation in 2022 so far, while the top 100 of them created a massive Rs 92.2 lakh crore of wealth, according to a report. However, Reliance Industries has smashed all records to emerge as the largest wealth creator during the five-year period ending March 2022, says the leading brokerage Motilal Oswal in its 27th annual wealth creation study. The Gautam Adani group companies have been rallying to dizzying heights in the year as the group snapped up many assets and diversified into newer areas.
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers and to do all other allied and incidental activities in this regard," it said.
India's largest telecom operator Reliance Jio Infocomm on Friday reported a nearly 24 per cent year-on-year rise in its standalone net profit to Rs 4,335 crore for the June 2022 quarter. Billionaire Mukesh Ambani-led Reliance Jio clocked revenue from operations of Rs 21,873 crore in the just-ended quarter, which was 21.5 per cent higher than the year-ago period, according to a filing.
Former Formula One supremo Ecclestone will stand trial for a charge of tax fraud at the HM Revenue and Customs court, London in October 2023.
Billionaire Mukesh Ambani on Monday introduced daughter Isha as leader of his conglomerate's retail business as he details succession planning at India's most valuable firm. Ambani had previously named son Akash as chairman of the group's telecom arm, Reliance Jio. At Reliance Industries Ltd's 45th annual shareholders meeting, Ambani introduced Isha as leader of retail business as he invited her to speak on integrating WhatsApp with the retail business.
Musk blasted the "current lords and peasants system for who has or doesn't have a blue checkmark", using an expletive.
'We hear about Chanda Mama from our childhood.' 'I am excited by the idea of seeing it with my eyes.'
Twitter's new owner Elon Musk has said the social media company is holding off the launch of a new system of issuing verified badges to users and could use different "colour checks" for authenticating organisations and individuals. In the days following Musk's $44 billion acquisition of Twitter, the billionaire entrepreneur announced that the Blue Tick verification badge, which authenticates a user or organisation on Twitter, will be available for a monthly fee of $8. "Holding off the relaunch of Blue Verified until there is high confidence in stopping impersonation.
'From March 2020 to November 2021, the combined wealth of the billionaires of this country has doubled.'
Musk has not yet offered details about how his content moderation council will work.
With billionaire Elon Musk closing the deal to buy Twitter and firing the social media firm's four top executives, twitterati in India on Friday seemed divided with many who were vocal against content moderation on the platform hailing the development while others sounding a note of caution. Musk has completed his $44 billion (one billion=100 crore) takeover of Twitter and fired the social media company's four top executives, including CEO Parag Agrawal and legal executive Vijaya Gadde, according to the New York Times. Musk singled out Gadde, 48, criticising her for her role in content moderation decisions at the company, the report said.
A plea has been filed in the Supreme Court seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to enquire and investigate into the Hindenburg Research report which made a slew of allegations against the business conglomerate led by industrialist Gautam Adani. The fresh public interest litigation (PIL), filed by advocate Vishal Tiwari, has also sought directions to set up a special committee to oversee the sanction policy for loans of over Rs 500 crore given to big corporates. Last week, another PIL was filed in the apex court seeking prosecution of short seller Nathan Anderson of US-based firm Hindenburg Research and his associates in India and the US for allegedly exploiting innocent investors and the "artificial crashing" of Adani Group's stock value in the market.
Top ten billionaires in India.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
Anant Ambani, the youngest son of billionaire Mukesh Ambani, will wed Radhika Merchant, daughter of industrialist Viren Merchant, the family announced on Thursday. The 'roka' or engagement ceremony of Radhika, daughter of Shaila and Viren Merchant, and Anant was performed at the Shrinathji Temple at Nathdwara in Rajasthan on Thursday in the presence of family members and friends. A statement issued by the family said the young couple after the engagement spent the day at the temple seeking Lord Shrinathji's blessings for their upcoming union.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
Billionaire philanthropist George Soros believes the turmoil at Gautam Adani's business empire may weaken Prime Minister Narendra Modi's hold on the government -- a statement which was strongly countered by BJP as an attack on Indian democracy.
'A lot of people -- whether farmers, students or businessmen -- think when they take a loan, that everything will go well and they will pay back.' 'Sometimes, things don't go well.'
Shah Rukh Khan, SS Rajamouli, Salman Rushdie and Padma Lakshmi are among the World's 100 Most Influential People of 2023, Time magazine announced.
Joshi said, "(BJP leader) Nishikant Dubey issued a notice to Rahul Gandhi for making baseless allegations (against the PM). What they say has to be supported with evidence but they haven't produced any. We all are answerable to the people of this country. This time action will be taken on this notice."
Billionaire Gautam Adani's group on Monday listed out details of the $2.87 billion stake sales in group firms since 2019 and how $2.55 billion of this was ploughed back into business, as it looked to counter Congress leader Rahul Gandhi's claim of Rs 20,000 crore coming in to the conglomerate through 'shell companies'. While investors such as Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC) invested $2.593 billion in group firms such as Adani Enterprise Ltd and Adani Green Energy Ltd (AGEL), promoters sold stake in Adani Total Gas Ltd and AGEL to raise $2.783 billion. "These funds were reinvested by promoter entities to support the growth of new business and in portfolio companies such as Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Power Ltd," the group said.
A small Ahmedabad-based chartered accountancy firm, whose appointment was questioned by a US short seller in its scathing report against the conglomerate run by billionaire Gautam Adani, has resigned due to "pre-occupation", Adani Total Gas Ltd said. Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate. Adani group has repeatedly denied all allegations.
He called it the party's attempt at trying to lock up those who worship Hanuman. He claimed that the Congress had earlier locked up Lord Rama and now it wanted to lock up those who chant 'Jai Bajrang Bali' (Hail Hanuman).
The Supreme Court has agreed to hear on Friday a plea seeking a direction to the Centre to constitute a committee monitored by a retired apex court judge to inquire and investigate into the Hindenburg Research report which has made a slew of allegations against the business conglomerate led by industrialist Gautam Adani.
The key problem with the current generation is that most people don't understand how much is enough to lead a good life! exclaims Virender Kapoor.
With billionaire Gautam Adani launching a hostile takeover of NDTV, the Congress on Wednesday alleged that the bid by a company owned by Prime Minister Narendra Modi's 'khaas dost' (special friend) is a brazen move to control and stifle any semblance of an independent media.
Nearly four decades ago, when Rakesh Jhunjhunwala was a young chartered accountant in training, he was paid a conveyance of Rs 60. Deductions would take away Rs 15 from this princely sum and he was left with Rs 45 by the time the allowance made its way to his hands. He would save as much as he could from this amount, so that he would have a small amount to spend when he met his friends on the weekend at Chicken Centre. This was an eatery popular with the young at the time, perhaps because food and drink were affordable even for those new to the workforce.
Former Karnataka chief minister S M Krishna, noted industrialist Kumar Mangalam Birla and famous playback singer Suman Kalyanpur were given Padma awards by President Droupadi Murmu at a ceremony at the Rashtrapati Bhavan on Wednesday.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
The National Company Law Tribunal (NCLT) on Monday gave its approval to Jio for the acquisition of Reliance Infratel (RITL). The tribunal asked Jio to deposit Rs 3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM's tower and fibre assets. On November 6, Jio had proposed to deposit Rs 3,720 crore in an escrow account to complete the acquisition of Reliance Infratel which is undergoing an insolvency resolution process.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Liverpool manager Juergen Klopp said that his side should be awarded the three points if Monday's game against Manchester United at Old Trafford is called off due to home fans protesting against their owners.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
'A new ownership structure must embed supporters and include fan share ownership'
Billionaire Gautam Adani-led promoter group has paid off all of the $2.15 billion loans taken pledging their shares in the conglomerate, and only debt at operating company level remains, Adani Group said seeking to assure investors of its ability to repay debt. Adani Group in a statement termed reports of the group not completing repayment of $2.15 billion share-backed debt "baseless and deliberately mischievous." "Adani has completed full prepayment of margin linked share-backed financing aggregating to $2.15 billion (as was announced on March 12) and all corresponding shares pledged for those facilities have been released," it said.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P companies," it said.
Max Verstappen fought back from a slow pitstop to win the US Grand Prix in Austin on Sunday as his Red Bull team clinched the Formula One constructors' title a day after the death of billionaire owner Dietrich Mateschitz.
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