Sanjay Hegde, the Karnataka counsel in the Supreme Court, said that this is the maximum punishment Mittal could attract if found guilty.
PIOs have also emerged among the most powerful businessmen of their respective sectors, led by the likes of steel tycoon Lakshmi Mittal and telecom titan Arun Sarin. While Mittal, recently named UK's richest persons for fourth year in a row, has been identified as the fifth most powerful in the UK manufacturing business, Sarin has beaten all to grab the top slot in the 100 most powerful persons list for country's technology and telecom sector.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Other panelists of the 23-member council includes external affairs minister S M Krishna, City group CEO Vikram Pandit, NRI entrepreneur Karan Bilimoria, economist Jagdish Bhagwati, educationist Sam Pitroda.
Company says no project in Jharkhand without allotment of SAIL-owned Chiria mines.
The latest Fortune list is topped by Apple Computer CEO Steve Jobs.
He likes to try and try again, as the renewed merger talks with MTN have demonstrated.
Mittal said his steel plants were getting gas at no less than $6 per million British thermal unit (mBtu), much lower than the $4.33 per mBtu price proposed by RIL.
Indian telecom czar Sunil Mittal and NRI businessman Anil Agarwal are among the four Indians featuring in the list of '48 Heroes of Philanthropy' compiled by business publication Forbes.
Aditya Mittal, the son of LN Mittal, the family that pulled off the audacious Arcelor acquisition just last year proves that a businessman of Indian origin can actually rule the world.
Google on Tuesday began reinstating about 250 Indian apps it had delisted from its Play Store over a billing dispute as it caved in to government criticism, but the squabble may not yet be over.
The Asia Society also honoured chairman and CEO of Citigroup Charles O Prince with the Leadership Award for his contribution to the financial sector.
People given to hyperbole would say that Gopal Vittal's rise at Bharti Airtel has been "meteoric". But in his case, superlatives could perhaps be forgiven. Here's why
Mittal Steel Company NV announced on Thursday an interim dividend of $0.125 per share for its European and New York Stock Exchange shareholders.
'YamaTough', the activist behind the 'Lords of Dharmaraja' hackers group, told Infosec Island, an information security Web site, 'Our goal is Bharti Mittal go off political arena and stop manipulating our government.'
NRI steel tycoon Lakshmi Mittal has earned a staggering 4.1 billion during the past one year and retained his position as the richest person in Britain in 2007 with a wealth worth 19 billion.
As Vodafone started examining the books of Hutchison Essar, its existing partner Bharti Airtel on Tuesday said it has not been approached by anyone to buyout British telecom firm's stake in the company.
Bharti Enterprises will kick off its retail venture early next year, opening half-a-dozen stores -- branding of which is still being worked out with its back-end partner Wal-Mart.
ArcelorMittal on Tuesday said it has cut expenditure on research and development by 4 per cent.
The company is 'disappointed' with the progress made so far on its proposed 12-million tonnes per annum steel plant, each in Orissa and Jharkhand. It has rued the regulatory hurdles as well.
Speaking on the sidelines of an event organised by the Confederation of Indian Industry, ArcelorMittal Design & Engineering Centre CEO Pierre Jonette said: "Our main objective is to bring down the total project cost by 20-22 per cent across all the green projects. We have internally decided to increase sourcing from local low cost destinations for most of our greenfield projects."
This correction in tariffs is required to compensate for the company's rural business.
'The magnitude of responsibility one has while portraying a real life legend like Mr Muralitharan is not lost on me.'
The Supreme Court on Tuesday agreed to hear Bharti Cellular Limited CMD Sunil Bharti Mittal's plea challenging the March 19 order of the special court summoning him as an accused in a corruption case related to allocation of additional 2G spectrum during the 2002 NDA regime.
The Competition Commission of India (CCI) on Wednesday declined an interim relief order that would restrain Google from levying service fees on app developers until a final decision is made by the regulator. The CCI also said the Director General (DG) would continue its investigation as ordered by the commission in its March 15 order. "The Commission is of the considered opinion that no case whatsoever has been made out by the informants which warrant the grant of interim relief. Resultantly, the applications stand dismissed," said the CCI while rejecting the plea by app developers in its order.
Mittal Steel, the world's biggest steel manufacturer, which made a $28.7 billion bid for acquiring Luxembourg-based Arcelor, on Friday said it has received US antitrust clearance for the said bid.
Torpa is looking for a second chance to migrate from a poor village to a modern urban cluster but tension is building between those who want development and those against it. For two decades, National Hydel Power Corporation (NHPC) proposed, and some local tribal groups opposed, the setting up of the Koel-Karo hydro-electric project there, and it was finally abandoned last year.
ONGC-Mittal combine will invest more than $6 billion in setting up a refinery, power plant and railway lines in Nigeria.\n\n
Bharti Cellular Limited CMD Sunil Bharti Mittal and Essar Group promoter Ravi Ruia on Friday got a breather from the Supreme Court which exempted them from personal appearance in the trial court in a case of alleged irregularities related to allocation of additional 2G spectrum in 2002.
Steel baron L N Mittal and French oil major Total on Thursday signed an agreement with state-run HPCL for jointly setting up a $6 billion refinery-cum petrochemical complex at Vishakhapatnam in Andhra Pradesh. State-run gas utility Gail India and exploration firm Oil India Limited are the other stakeholders in the proposed 15 million tonne refinery and one million tonne petrochemical complex.
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Sunil Mittal, President, CII, met French President Nicolas Sarkozy met in Paris to discuss Indo-France business relations.
Supporting West Bengal Chief Minister, Buddhadeb Bhattacharjee's stand, Mittal said, "Let us see for the next 7-10 years what Indian companies deliver and then we can take a call."
The transaction is expected to close in October, subject to oversight and approval by the recently appointed court trustee, a company statement said.
The Enforcement Directorate (ED) has filed its first chargesheet in connection with a money-laundering probe linked to alleged irregularities in the Delhi Jal Board (DJB), official sources said on Saturday.
NRI steel baron Laxmi Mittal has donated $2 million for the Tsunami Recovery and Relief Fund, set up by former US Presidents Bill Clinton and George Bush for overseeing United States' rebuilding efforts.
