The ED, early this year, also attached assets worth Rs 78 crore "in possession of" Chanda Kochhar, Deepak Kochhar and the companies owned and controlled by him.
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
Plans disinvestment in IOC and Coal India.
Re-instatement of 5% custom duty on crude imports will help.
India's largest firm Reliance Industries has initiated work-from-home for its staff while keeping open consumer-facing businesses of hospital, retail stores and telecom with a minimum workforce amid increasing number of Covid-19 cases in the country. Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (covid-19) outbreak on his employees and business, officials said.
The new i10's virtues are functionality and space, fresh design, refined ride and a silent cabin.
'We have had 27 years of liberalisation and in the same period Korea and Japan and China transformed themselves forever,' says Aakar Patel.
India, which has been at the forefront of the years-long efforts to reform the UNSC, began its two-year tenure at the Council on Friday last.
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State oil refiners, who are the biggest buyers of US dollars, agreed to implement the RBI order with immediate effect, sources with direct knowledge of the development said.
Pulbic banks have no reason to cheer Budget announcement.
Clearing the way for oil refiners to pay Iran in Indian rupee, the Union Budget has exempted the payments made for crude oil purchased from the Persian Gulf nation, from any local tax.
On Tuesday, Petroleum Minister Dharmendra Pradhan met Russian oil giant Rosneft's chief executive officer Igor Sechin and discussed raising crude imports from that country, in addition to talks about going for more acquisitions.
Is the XUV700 just a facelifted XUV500 or is it a completely new breed in the vast range of SUVs available today? Rajesh Karkera takes the latest offering from the Mahindra stable for a spin to find out.
The government should partner with commodity exchanges such as MCX.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
The 2-door vehicle may finds its way back in India with the launch of the all-new Thar by Mahindra and Mahindra, says Rajesh Karkera.
The ministry, however, said it could not be sufficiently established yet if these variants were behind the recent spike in COVID-19 cases in some states.
Indian Oil Corporation may bid for acquiring petrol pumps owned by Kuwait Petroleum Corporation and Jet, a subsidiary of Canoco Philips, in Thailand to expand its retailing operations beyond India.
The shift comes as the gap between the international benchmark Brent and the Middle East price marker narrows
The government has to take a call on reducing or retaining the excise rate.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
The known unknowns in Prime Minister Modi's Saudi visit assume great significance, says Ambassador M K Bhadrakumar.
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Most Asian currencies weakened versus the dollar with the Thai baht and Philipine peso sliding on disappointing economic data.
Union Health Minister Harsh Vardhan on Thursday sought keen oversight and personal indulgence of health ministers, principal secretaries and additional chief secretaries of states and union territories to lead the second nationwide mock drill on the COVID-19 vaccination scheduled to be held on January 8.
At present there is virtually no dialog between votaries of different various versions of economic democracy.
The company has been given time till June by mortgage holders Reuben Brothers
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
IOC, at present, has seven refineries with a cumulative capacity of 54.2 million tonnes per annum capacity.
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
Vedanta Resources, the Indian mining company floated last month, has said copper and zinc production had increased sharply over the last quarter and commodity prices in India had begun to improve.
There could be multiple measures announced in quick succession, not only by the finance minister but also other ministers regarding their respective sectors, and by the Reserve Bank of India. The total size of these announcements could rival that of other G-20 nations as a percentage of GDP.
It is time he stood up and assured the middle class that they can count on him as one of their own, says Dr Sudhir Bisht.
The move comes amid hectic diplomatic manoeuvring between the two countries over a host of issues like Nuclear Suppliers Group and designation of Masood Azhar as a terrorist by the United Nations.
The crisis is not upon India immediately, as the US sanctions give a six-month breathing space for countries to act.
The last week of March saw a series of new refining capacity going on stream. HPCL-Mittal Energy, Essar Oil and Mangalore Refinery & Petrochemicals (MRPL) were able to announce completion of capacity additions a couple of days before the seven-year tax holiday in this regard came to an end, on March 31.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
