The legal battle for the Rs 5,000 crore (Rs 50 billion) worth assets of M P Birla group has entered a crucial stage with the main arguments for claimant Rajendra S Lodha's probate petition for Priyamvada Birla's purported will about to begin soon.
A bench comprising Justice S B Sinha and Justice H S Bedi, which is hearing the matter, had earlier issued notices asking Lodha, the representatives and legal heirs of Late Laxmi Devi Newar, including Nand Gopal Khaitan, to file their replies. The hearing will resume on Wednesday.
Investors must adopt a balanced approach, incorporating both styles in their portfolios.
AV Birla Group chairman, Kumar Mangalam Birla and the chief executive officer of Aditya Birla Retail, Sumant Sinha bare the details, in this open-ended conversation, about their plans for Aditya Birla Retail.
Members from various opposition parties, including the Congress, sought to raise the Manipur issue immediately after the House convened and some of them shouted slogans.
A division bench comprising Justice P C Ghose and Justice T K Dutta, while setting aside the order of Justice K J Sengupta appointing the four administrators to the estate, directed Lodha not to sell any part of it or spend any amount from it except for its maintenance.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
An I-T probe, sources said, was on to trace the recipient of the reported transfer into a multi-national bank in Singapore.
Now, the total number of MPs suspended for the remainder of the Winter Session of Parliament stands at 14 -- 13 from the Lok Sabha and one from the Rajya Sabha.
In his absence, the party stares at uncertainty as many of its other senior leaders are either in jail or in political obscurity.
With this, we are getting a global footprint in 29 countries and take our employee strength to 100,000.
Having drawn the blueprint to pass on his over Rs 7,000 crore (Rs 70 billion) business empire to his daughters and grandchildren, India's grand old industrialist B K Birla has set about restructuring unlisted companies in the group.
Lok Sabha Speaker Om Birla on Friday took 'serious note' of certain objectionable remarks made by BJP member Ramesh Bidhuri in the House and warned him of 'strict action' if such behaviour is repeated in the future, officials said.
Lodha, Birlas file caveats in court; Birlas say will may be fabricated.
The decision reflected Birla's thinking that his stepping down would pave the way for the entry of strategic investors and allow for greater flexibility during discussions, the company said.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Lok Sabha Speaker Om Birla met Modi on Thursday and extended an invitation to inaugurate the new building, the Lok Sabha Secretariat said.
On the heels of Reliance Industries foraying into the lucrative retail business, Birla Group too contemplates rolling out its organised retail initiative.
With Bidhuri expressing regret, sources said, the committee was likely to bring closure to the matter and send its report to the speaker.
'Aleris will bring in $3 billion of revenue. Novelis has $12 billion of revenues. If we add Hindalco's $6-billion revenue, then on a consolidated basis, we will become the world's largest aluminium company outside China.'
'Unlike Big Bazaar, where the promoter calls the shot, in ABRL, professionals take decisions. So, every new CEO leads to a change in strategy, which confuses vendors and the team.'
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
With the Birlas yet to file their objections to their auditor Rajendra S Lodha's claim over M P Birla group, a late claimant to the Rs 5000 crore (Rs 50 billion) pie decided to adopt a wait and watch policy for the time being.
Telecoms investor Aditya Birla Nuvo Ltd and retailer Future Group were among the first big names to apply for licenses to run so-called payments banks
On a Prayer is a book on Birla's journey from a state of oblivion to survival, where his deep belief in spirituality and his faith in true love act as a crutch for him to go on.
Mumbai is witnessing some big-ticket investments in bungalows by the city's billionaires.
The division bench of Justices F I Rebello and D G Karnik on Monday reserved orders as to whether the Birla group's petition is admissible or not. The order will be passed on Tuesday. In the present case, the issue is whether the Birla group is liable to pay capital gains tax on the share-purchase transaction worth $150 million with AT&T Mauritius (subsidiary of AT&T).
Delhi Chief Minister Arvind Kejriwal has issued directions from the Enforcement Directorate custody to ensure that medicines and tests are available to people at all government hospitals and Mohalla Clinics, Health Minister Saurabh Bharadwaj said on Tuesday.
Aditya Birla group on Tuesday announced it had concluded acquisition of Tata group's 49 per cent stake in Idea Cellular Ltd for Rs 4,406 crore
Future Gaming of lottery king Santiago Martin was the biggest purchaser of electoral bonds at Rs 1,368 crore, of which nearly 37 percent went to the DMK.
It took the Aditya Birla group four years to make up its mind on entering the the burgeoning e-commerce market in the country.
BofA-ML mandated to find buyer for 27.5% stake in media group's holding firm
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