It is the second firm to have received retrospective tax notice this year after Vodafone Group.
Though the NDA government had been trying to privatise 20 companies, a decision for which was taken in 2017, and included national carrier Air India, the investor community evinced little enthusiasm for any of them. Now, with an in-principle approval for privatisation of BPCL, CCI and SCI, the government has taken the plunge again.
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
Here's the full text of the statement
The agency, sources said, has issued the notices under the Prevention of Money Laundering Act (PMLA) and they have summoned the accused to examine them and record their statements.
A court ruled in favour of Vodafone on Friday in a long-running dispute with the Indian taxman, a boost for the British telecom group whose tax battles have been seen as emblematic of the troubles facing foreign investors in India.
A preliminary deal for sale of 49 per cent in Essar Oil to Rosneft was signed between the companies in July 2015.
- I think it's a 'No' at this point of time, purely based on the whole negative aura that has been generated
While the gold policy covers every aspect, from sourcing gold to trading and investing in it, experts assert that the policy is incomplete if mining of gold in India isn't promoted.
The rights on offer are Indian Sub-continent Television Rights from 2018 to 2027 (10 IPL seasons), Indian sub-continent Digital Rights from 2018 to 2022 (5 IPL seasons) and Rest of the World Media Rights from 2018 to 2022 (5 IPL seasons).
Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
At $12-bn valuation, this will be India's largest FDI; deal to be announced on Saturday, says Dev Chatterjee.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
The output was behind target in 2015-16 as well and the government is yet to issue a cost disallowance notice for that
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
Telecom operators, including Reliance Jio, have been demanding "same service same rules" regime which means that mobile applications providing calls and messaging services should also be made to comply with set of rules that are mandatory for mobile service providers.
Business is down to such an extent that last year these firms could not even meet RBI's capital norm of Rs 50 million for partnerships and Rs 100 million for public and private firms in this line of business.
Sebi issued final observations, necessary for the offer and the deal as a whole to go through, on May 21.
Banks are seeking an order that Mallya should appear in person before the court.
Some investors have questioned whether James is less attached to some parts of the media empire that his father built
Such an exit arrangement is commonly known in the business parlance as 'golden parachute' or 'sweetheart deal'
In 2013-14, India became the third-largest contributor to Vodafone Group's service revenue and operating free cash flow.
Its registration is unusual because the firm appears twice in the RoC database, but different identification numbers.
USL is already contesting a Karnataka High Court order.
'I have been most pained at being painted as an absconder'.
BPCL's impending privatisation and RIL's stake sale to Saudi Aramco raise questions about the future of the West Coast Refinery, once touted as the world's largest.
The offer, open on April 10-26, was meant to acquire close to 38 million shares at Rs 1,440 a piece.
Board of Control for Cricket in India's Chief Executive Officer Rahul Johri says the revenue generation from the upcoming Indian Premier League's media rights auction could be "historic".
To bring clarity, the department clearly defines terms such as promoter and competitor.
Cairn said it had initiated arbitration.
Former Telecom Minister Dayanidhi Maran had "pressurised" and "forced" Chennai-based telecom promoter C Sivasankaran to sell his stakes in Aircel and two subsidiary firms to Malaysian firm Maxis Group in 2006, the CBI on Thursday told a special court.
An estimated $344 billion has been illegally removed from the Indian economy between 2002 and 2011
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
RIL's Dhirubhai-34, or R-Cluster field, in the flagging KG-D6 block was to produce about 13 million standard cubic metres per day of gas, equivalent to present day output from D1&D3 as well as MA fields, by 2017-18.
Petroceltic is headquartered in Dublin with offices in Edinburgh, London, Algiers, Varna, Cairo and Rome.
The bankers also alleged that the Rs 594-crore claim at this point of time is a clear-cut tactics of UBHL to delay the process of justice, knowing fully well that the case is on the verge of disposal.
In the broader market, the BSE Midcap index bucked the trend to gain 0.3%
The company has not been able to sell its 9.8% stake in Cairn India
The scandal stemming from longtime USA Gymnastics doctor Larry Nassar's sexual abuse of young female athletes could take a financial toll on the sports federation for years, sponsorship executives said.
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