Despite recent developments that have accelerated the impending extradition of fugitive diamantaire Nirav Modi, who has been in custody in London's Wandsworth Prison for over two years, the last month has seen his uncle Mehul Choksi dominate the headlines instead with his circus-like exhibition in the Caribbean that has involved red herrings such as a "girlfriend", to whom his wife seemed to have no objection, and possibly concocted stories of being kidnapped and manhandled. Choksi was widely regarded as Modi's Svengali in Mumbai when he returned from Belgium to expand his business. He had fled to Antigua well before news around how Modi finagled thousands of crores from Punjab National Bank (PNB) and other institutions through a series of allegedly coordinated and fraudulent actions involving letters of undertaking, or LoUs.
When a manufacturer launches the fifth generation of a product, it is given that earlier avatars hit the mark. Ditto for the new Honda City, the latest version of which also brings in sweeping changes to the carmaker's product strategy for the Indian market, says Pavan Lall.
The deal, estimated to be worth USD 2 to 3 billion, has been approved by the state department, the sources said.
No One Killed Jessica is not a docu-drama says director Raj Kumar Gupta.
The Supreme Court on Tuesday dismissed a plea of Manu Sharma, son of senior Congress leader Venod Sharma, seeking review of the judgement sentencing him to life imprisonment for killing model Jessica Lall 11 years ago.
US defence major Boeing has started work on the first P-8I long-range maritime reconnaissance and anti-submarine warfare aircraft for the Indian Navy.
The sale lot of 61 pieces of art, which was spread across a variety of categories such as modern and contemporary South Asian art, prints, and photographs, realised an estimated sale price of Rs 23.8 crore. Pre-auction estimates had expected the sale to range between Rs 37 crore and Rs 52 crore. Around 11 pieces of art remained unsold on Day One, reports Pavan Lall.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
Making a debut in India with an SUV, Citroen's products in the next couple of years will clearly chart and define its destiny in what has become both a vibrant but also a daunting market for foreign entrants, says Pavan Lall.
"I don't think the only solution for us is a bank, though it could be a bank. On the other hand, if the financial system continues to grow at 20-25 per cent, there's no reason why in our current construct, we can't comfortably keep growing at that same pace," says Rajiv Lall, CEO and Managing Director, IDFC.
Delhi Chief Minister Sheila Dikshit, who is under attack for recommending parole to Manu Sharma, who is serving life imprisonment in the Jessica Lall murder case, on Monday said the move was within the 'legal purview'."Whatever has been done is within the legal purview. It (recommending parole) has been done after taking suggestions from everybody (concerned agencies)," Dikshit said when asked on what basis Sharma was granted parole.
US defence major Boeing on Friday said India was planning to buy 10 C-17 Globemaster heavy-lift aircraft and the US government has received a 'Letter of Request' in this regard.
Bond issuances dipped 31.4% during January-June
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
The defence of convict Manu Sharma in the Jessica Lall murder case that two weapons were used in the offence did not sustain the scruitny in the Supreme Court which said the ballistic report was vague and no credence can be lent to it.
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
The shop owner Munni Lal Ahirwar has alleged in his complaint that the villagers looted food grains as they did not have cash to purchase it, police, however claimed that no such incident took place and it was only a minor scuffle.
India's richest businessman, Mukesh Ambani is ranked at 33 with a salary of Rs 15 crore (Rs 150 million) annually.
The deal, amounting to $ 2.1 billion, will get for Indian Navy eight Boeing P-81 long-range maritime reconnaissance aircraft
It's the easiest thing to give people money, but the risk perception has changed, says Rajiv Lall, Managing Director, IDFC.
Ten-Year-Old Shubham Jaglan wins second Junior World Golf title in two weeks.
In the first of its kind, leading Hollywood studio Warner Bros issued an advertisement in a newspaper stating that no one has the right to remake their film, The Curious Case of Benjamin Button, in Hindi.
Last year, Nikhil Kamath and his brother Nithin jettisoned into a club of the country's 100 wealthiest with their net worth pegged at around Rs 24,000 crore
It observed that an expert, in such a situation, could not have given a different opinion and said, "It was unjust to attribute any motive to Manocha that he changed his original stand in the written opinion."
After acquiring Grama Vidiyal Microfinance last year, IDFC Bank is looking for opportunities to strengthen its retail capabilities, says Rajiv Lall, its chief,
Ramani was taken to Goa for investigations.
The Supreme Court on Monday refused to grant bail to Manu Sharma, who has been sentenced to life imprisonment in the Jessica Lall murder case. A Bench headed by Justice C K Thakker said that no case for suspension of sentence and grant of bail was made out. The court said the appeal against the conviction is already admitted and likely to be heard within a reasonable time.
'There will be two to three months of containment, and when there is normalcy, the risk is a relapse and a return to lockdowns.'
Intimate getaways offered in the form of homestays by hotels are proving to be the flavour of this extraordinary and difficult time. Not far from cities, they offer a pleasant respite from homebound lives, says Pavan Lall.
'Family businesses have to put competent people in charge who believe they can get to the top.'
'If you don't remove the glass ceiling, you won't get the best talent.'
The testing rate is likely to slow down, report Pavan Lall and Sohini Das.
The court expressed displeasure over getting the anonymous letter while hearing the matter pertaining to witnesses who turned hostile in the Jessica Lall murder case.
The Bench comprising Justice R S Sodhi and Justice P K Bhasin expressed dissatisfaction at the manner in which the witnesses failed to give proper testimonies in the case.
What worked for Hyundai in India when so many other auto manufacturers have had to eat humble pie? Pavan Lall finds out.
The Special Investigation Team of the Delhi Police, which is probing the Jessica's murder, brought her to New Delhi.
Action will be taken as per the court directions on the SIT findings.
No one would have dreamt then that, in the space of a generation, Delhi would be challenging Mumbai to become the country's business capital.
Lal was allegedly shot dead in the intervening night of April 29 and 30, 1999 at a restaurant owned by noted socialite Bina Ramani at Qutub Colonade in South Delhi.
All nine accused in the murder case were acquitted by the trial court after witness turned hostile.
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