The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
Former PCB chairman Zaka Ashraf alleged that he was threatened by the Board for Cricket Control in India for opposing the structural overhaul of the ICC.
The market breadth, indicating the overall health of the market was strong
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
May bar premature withdrawals from fixed maturity plans.
Italy will make a bid to host Euro 2016, Italian football federation (FIGC) president Giancarlo Abete said on Monday. Italy was beaten in a bid for Euro 2012 by Poland and Ukraine. The country's hooliganism problem was reported to be partly to blame.
Market regulator Sebi is likely to approve the Satyam Board-formulated framework to induct a strategic investor.
In a significant relaxations on Wednesday, the Securities and Exchange Board of India changed pricing rules for qualified institutional placements in view of rising market volatility, and reduced the timeline of rights issues. But the market regulator did not change, as widely expected, the guidelines for participatory notes, derivative instruments, through which many foreign investors trade on the Indian bourses.
The board meeting of the state-owned airlines was also attended by Arvind Jadhav, for the first time since he took over as Nacil CMD after the sudden exit of erstwhile chairman Raghu Menon from the company. However, sources in the company said no final decision could be taken as the issue would be discussed with the new government and the civil aviation ministry.
Sidbi acquires Ahmedabad-based start-up at hefty premium; founders deny link to govt.
"Will Advani continue to remain the leader of the opposition?" It was the first question hurled at Bharatiya Janata Party spokesperson Arun Jaitley at his final press conference of the day on May 16 at the BJP headquarters in New Delhi.
The reshuffle is likely to take place after the ongoing Budget session ends on April 12, reports Archis Mohan.
The government of Pakistan, on Friday, withdrew its appeal filed against the Islamabad High Court's decision to reinstate Zaka Ashraf as the Chairman of the Cricket Board.
Under the takeover code, an investor who acquires 15 per cent of a company needs to make an open offer for another 20 per cent at a price which is not less than the average share price of the previous six months. This means a buyer of more than 15 per cent of Satyam will have to make an open offer at a price almost six times Monday's closing price of Rs 57.60.
He seems to have fallen from a higher floor of a hotel in Bangkok.
The new player contracts include a freeze in annual retainers for senior players but substantial increases for junior members of the national squad and A team. Test match fees were also increased, bringing Sri Lanka's match fees in line with their Asian neighbours.
Ramon Calderon resigned as president of Spanish champions Real Madrid on Friday after an emergency board meeting at the Bernabeu, Spanish media have reported.
They will take stock of the current situation and discuss the way forward. Handing over the share allotment documents to Tech Mahindra is also on the agenda of Monday's board meet, according to a Satyam spokesperson. Tech Mahindra Vice-Chairman, MD & CEO Vineet Nayyar, C P Gurnani, president (international operations), and President (strategic initiatives) Sanjay Kalra have confirmed their participation in the meet.
Pakistan's cricket authorities will brief the International Cricket Council about its security plan for the 2011 World Cup at the ICC Executive Board meeting in Dubai this weekend to retain its hosting rights for the mega event.
Bollywood actor Sanjay Dutt may now play a role in politics with the Samajwadi Party on Thursday deciding to field him as its candidate from Lucknow in the Lok Sabha polls. Bhojpuri sensation Manoj Tiwari would be the SP's candidates from Gorakhpur
Media reports said that three IT companies, HCL Tech, Tech Mahindra and Cognizant, are in the fray for Satyam. While a HCL spokesperson said the company does not comment on speculation, Tech Mahindra officials termed the reports as baseless.
Satyam Computer moved a step closer towards finalising bids for selling a majority stake in the trouble-torn IT company with the board meeting investment bankers on Thursday.
'I am certainly not an employee of Sebi.'
Default in payment of royalties to McDonald's India for nearly two years was the key reason behind the fast-food chain's decision to terminate franchise agreement
Pakistan will raise Cricket Australia's policy not to tour the country over security fears but travel to India at the International Cricket Council (ICC) next month, sports minister Najamuddin Khan said.
More trouble may be brewing for the beleaguered Satyam Computers with a Texas district court scheduled to hear on January 7, a case filed against the IT major by a small British mobile solution firm, Upaid, over the Maytas deal.
Ahead of next month's crucial board meet that is expected to give way to a change in management, Satyam Computer on Monday said that the promoters' stake may have already reduced as a result of institutional lenders selling shares pledged with them.
The decision of Satyam Computer Services to give itself time to consider a series of options to shore up investor confidence, including steps to strengthen governance, has come as a welcome surprise to institutional investors in the company.
Satyam Computer Services did not consult Mendu Rammohan Rao, dean of the Indian School of Business and an independent director on the board of India's fourth largest IT services provider, when it called off the deal to acquire Maytas Infra and Maytas Properties following shareholder protests. Rao had chaired the board meeting that endorsed the company's proposal to buy the two firms linked to the family of Satyam's founder and chairman B Ramalinga Raju.
Eighteen companies, collectively planning to raise Rs 9,000 crore (Rs 90 billion) through initial public offers, will benefit from the Securities and Exchange Board of India's new norms to extend the IPO validity period from three months to a year.
In the face of surge in stock prices of Satyam to about Rs 81 a share on the eve of the open offer for beleaguered company, its new owner Tech Mahindra said it will not hike the offer price.
'Let us take the example that BCCI were being paid Rs 500 and others are being paid Rs 100. Now these member nations have been promised Rs 175 Or let's say Rs 200. What Mr Manohar is trying do is to reduce BCCI's share to Rs 300 in order to increase their share'
Real Madrid president Florentino Perez has rebuffed calls from angry fans for him to step down and backed coach Rafael Benitez after Saturday's humiliating 4-0 defeat at home to Barcelona in the La Liga 'El Clasico'.
Whatever the final outcome of this unhappy episode, one thing is clear: a glass once cracked cannot be fixed. The trust is gone forever and the relationship between two old friends lies in tatters. For now, IndiGo, the airline, will have to learn to soar with two angry and distracted commanders, says Anjuli Bhargava.
The regulator may float consultation papers for FPIs and private equity funds and the final decision will be taken after taking into account views of all the stakeholders
The cricket community in Pakistan has reacted cautiously to reports that the Indian and English Boards were willing to play Pakistan at neutral venues with some asking the PCB not to fall in the "trap".
The Delhi-based airline currently has 13 Airbus A320 aircraft in the fleet and it plans to take another seven (A320 Neo) planes by June 2018.
New regime places more limits on unregulated foreign entities
Chairman and managing director of Reliance Industries, Mukesh Ambani is understood to have expressed interest in footing the salary bills of international faculty at the Indian Institute of Management, Bangalore.
A team of refugees that will compete at this year's Rio de Janeiro Olympics could number as many as 10 athletes, International Olympic Committee (IOC) President Thomas Bach on Wednesday.
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