Reflecting substantial financial stress, diversified Jaypee Group companies have defaulted on loans and other payments worth Rs 4,460 crore (Rs 44.60 billion).
Former Prime Minister Manmohan Singh, Birla and former Coal Secretary P C Parakh were summoned.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
The Central Bureau of Investigation was on Tuesday directed by a special court to record statements of former Prime Minister Manmohan Singh, who was holding charge as Coal Minister in 2005, and others in a coal blocks allocation scam case allegedly involving top industrialist Kumar Mangalam Birla.
The agency filed the report before Special CBI Judge Bharat Parashar and said that it contains a detailed report of investigation being carried out in the case.
As industry voiced concern over the CBI naming industrialist Kumar Mangalam Birla in a case, Oil Minister M Veerappa Moily on Friday said investigating agencies and the judiciary must ensure that India does not become like Russia, where investors are not prepared to go and billionaires are put behind bars.
Asserting that there is nothing wrong in allocation of coal blocks, former Union Coal Secretary Prakash Chandra Parakh on Wednesday said if the Central Bureau of Investigation considers a conspiracy in this case then Prime Minister Dr Manmohan Singh should be held equally responsible being the final decision maker.
Corporate Affairs Minister Sachin Pilot intoned, "Recent incidents will certainly dampen business confidence and investment sentiment, both domestic and foreign; and perhaps also negatively affect decision making by bureaucrats and policy makers."
The average premium at $390 Main Japanese Port (MJP) was almost 47 per cent higher than 2013-14.
SBI was the top gainer after it reported lower-than-expected rise in bad loans
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
He congratulated the Uttar Pradesh government and industrialists for their commitment for development.
Manoj Sinha will retain his current role in the railways.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
The numbers in India may not be as big but the opportunity for serious growth is all there.
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
Mega rally on December 22 to have special enclosure for 10,000 tea vendors, says Sanjay Jog.
Impact of the slowdown is most visible among promoter/owner-CEOs
The Reserve Bank on Wednesday said it plans to issue new bank licences around January, "consistent with the highest standards of transparency and diligence."
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
Tatas, Adani, Bharti, HDFC and Sun Groups have clocked huge gains.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of $1.3 billion each.
The sale of the Lincoln House in the Breach Candy area of south Mumbai, which used to house the US consulate, to the billionaire chairman of the Pune-based Serum Institute, makes it the largest real estate deal in the country's financial capital.
'Birla only made representations to then PM for coal blocks allocation.'
Hailing Prime Minister Narendra Modi and the Bharatiya Janata Party government, top industry captains pledged mega investments at the Vibrant Gujarat Global Summit
A parliamentary panel on Friday opposed the new bank licences to corporate houses and voiced concerns over the discretionary power vested with RBI for applying 'fit and proper' criteria for deciding on applications.
Those for power sector to see tussle between prior owners & new challengers
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Senior company officials said the funds would be used to expand its financial services business in rural India where the group would be opening more branches.
Tata Steel, others sell assets abroad after taking massive impairments.
Though Mistry does not make it to the club of the top 10 highest paid India Inc leaders, he will be among the next 10.
According to a senior CBI official, the agency has evidence to suggest the finance ministry's recommendations were overlooked while giving a licence to MCX-SX in 2008.
The plan was activated in October last year.
Over Lebanese delicacies, the daughter of billionaire Kumar Mangalam Birla talks money, relationships, her passions and how she outpaced her peers.
As India's online population crosses 450 million, e-commerce ventures are trying to grab a pie of online sales estimated to hit $48 billion by 2020.
A special court on Friday asked the CBI as to what was the "hurry" in filing a closure report in the coal blocks allocation case in which it had earlier lodged an FIR against top industrialist Kumar Mangalam Birla and others.
Hindalco has already bagged 4 mines in Jharkhand and Chhattisgarh
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Reliance, Birla Group, Airtel eye small finance banks.
The scrutiny is expected to be over this month itself.
Noting that farmers are suffering due to problems in the food supply chain, Congress Vice President Rahul Gandhi on Monday said there is a need for ensuring better compensation for the farmers against their produce.
The fierce litigious fight for little-known Birla Corporation marked the first major controversy for this storied and reserved business family.
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