Ratan Tata was one of the world's most influential industrialists yet he never appeared on any list of billionaires. He controlled over 30 companies that operated in over 100 countries across six continents yet lived an unpretentious life. Ratan Naval Tata, who died at a Mumbai hospital on Wednesday night at the age of 86 years, enjoyed a perhaps unique status -- a corporate titan who was considered a 'secular living saint' with a reputation for decency and integrity.
Utility vehicle maker Mahindra and Mahindra said on Monday that it has begun preliminary talks to buy the engine and transmission units of failed Daewoo Motors India.
Troubled car maker Daewoo Motors India has been referred to the newly set up Serious Frauds Investigation Office due to financial mismanagement involving about Rs 1,000 crore.
After closing down for five years, the Surajpur-based Daewoo Motors' manufacturing facility is expected to be revived as a component and engine making unit, and will also form a support base for new car models in the domestic market.
Show-cause notices have been issued to 18 multinationals including Samsung, LG, Daewoo Motors, Japan Airlines and Marubeni for alleged violation of foreign exchange regulations, Rajya Sabha was informed on Tuesday.
Eighteen multi-national companies have been slapped show cause notices for alleged violation of Foreign Exchange Regulations involving over Rs 170 crore.
Tata Motors has expressed interest in acquiring engine and transmission units of Daewoo Motors India soon after acquiring commercial vehicles operations of Daewoo Korea.
Top ten defaulters, including Daewoo Motors and Malvika Steel Ltd, owe scheduled commercial banks Rs 3908.96 crore (Rs 39.09 billion), Finance Minister P Chidambaram said in New Delhi.
The Debt Recovery Tribunal, Mumbai, has issued a fresh notice regarding the bankrupt Daewoo Motors India Ltd, placing
General Motors, the world's largest automaker, said it would buy South Korea-based Daewoo Motors' assembly unit in India for an undisclosed price.
General Motors India is in talks with the creditors Daewoo Motors India to acquire the car assembly unit of the failed carmaker and has set a timeframe to clinch the deal.
The court in March directed the receiver to take possession of the assets to prevent any damage or pilferage because management assigned by the court to maintain the closed plant had abandoned it, the official said.
Potential buyers of assets of bankrupt Daewoo Motors India Ltd have won an extension of three or four weeks in which to submit bids, an official from a creditor bank told Reuters on Thursday.
Some cars that are emblematic of India's automobile industry will no longer come off the assembly lines after this year.
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SpiceJet's ex promoter Ajay Singh is trying hard to pump in huge money into the airline.
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