The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
Among India's capital-starved local banks, Essar is viewed as too big to fail.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Special CBI Judge O P Saini adjourned today's proceedings after advocate Siddharth Agarwal, appearing for Mittal, said the Supreme Court is scheduled to hear in March the separate pleas filed by Mittal and Ruia challenging the March 19, 2013 order of the trial court summoning them as accused in the case.
Prime Minister Narendra Modi is set to meet top Australian business leaders, including BHP Billiton CEO Andrew Mackenzie and HSBC Bank Australia CEO Tony Cripps, at a roundtable in Melbourne next week.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
So what's up? Why are so many promoters heading for the door? It cannot be that all of them lost their appetite for a good fight at the same time.And if Naresh Goyal of Jet Airways and Subhash Chandra of Zee Entertainment do bow out, will it be seen as chickening out when the going got tough or the entrepreneurial instinct of surviving to fight another battle waned, wonders Shailesh Dobhal.
Many top corporate groups hit hard, in penalties and sunk investments, beside loss of future revenue
Union Transport Minister Nitin Gadkari was on Friday at the centre of a controversy over reports that he and his family spent two nights on a luxury yacht owned by Essar group.
Cross previous high of $72 billion in 2007 as Indian promoters overcome the selling taboo. Abhineet Kumar reports from Mumbai.
Trade and economic issues, including visa, totalisation pact and impediments hampering investments, are likely to figure at Monday's US-India CEO Forum meeting, which will be jointly addressed by visiting US President Barack Obama and Prime Minister Narendra Modi.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
Sales have picked up in the past few days for retailers in the apparel and consumer durables segments.
Prayas Jain has been arrested for allegedly buying secret documents.
This is the best time to be in India, Prime Minister Narendra Modi said today as he wooed top Australian corporate honchos to invest in the country which is undergoing reforms to improve business environment.
Given the stability of the rupee over the last 10 months, many companies have been tempted not to hedge their foreign currency risk.
The Reserve Bank had submitted a list of 150 top loan defaulters who owe banks more than Rs 500 crore in a sealed cover to the Supreme Court.
Attending a function where former Bharatiya Janata Party president Nitin Gadkari rolled out business plan of his Purti Group, NCP president and Union Agriculture Minister Sharad Pawar said "there are no untouchables in politics".
Hindalco has already bagged 4 mines in Jharkhand and Chhattisgarh
The agreement came in after the Ruias agreed to clear most of the Rs 26,000-crore dues to the lenders on completion of the transaction.
Tamal Bandyopadhyay, columnist and author of several books like From Lehman to Demonetisation: A Decade of Disruptions and Sahara: The Untold Story, tells Rediff.com why Yes Bank depositors should not panic and the current crisis at India's fifth largest private lender does not pose any systemic risk.
Demand is expected to grow as most customers await a drop in prices.
ONGC was the top performer while private banking major ICICI Bank extended gains
How many 22 year olds gets the ears and eyes of Yogi Deveshwar, Kumarmangalam Birla, Shashi Ruia, T V Narendran and Naveen Patnaik?
India Gas Solutions Pvt Ltd -- the equal joint venture between the Mukesh Ambani-led firm and Europe's second largest oil firm - is among the three companies shortlisted by Gujarat government for giving out 25 per cent stake in the Mundra terminal.
In the last few years, zero per cent financing has become quite attractive as consumers aspire to buy the latest products, especially in categories such as mobile phones and television sets.
Likely to seek FIPB approval to raise holding; deal could bring FDI of about $696 mn.
Standard Chartered has appointed Zarin Daruwala of ICICI Bank as its new Chief Executive.
Lenders, with Rs 600-cr exposure to telco, want it to sell properties to repay loans.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
He allegedly advanced the cut-off date to favour accused firms in allocation of 2G licences.
India Inc is either shutting loss making businesses or is hiving off allied verticals to enhance revenues.
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
The Confederation of Indian Industry will organise a round table on investment.
CEOs fear any change in status of the mines will mean disruption in production, loss of investment and increased production cost for user industries.
The company has tied up with five distributors this year.
