The stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
A charge sheethas been filed by the Central Bureau of Investigation against social activist Teesta Setalvad, her husband Javed Anand and a company run by them for alleged violation of foreign funding rules.
Ahead of the general elections, a slew of states and also the Centre had doled out sops to the marginalised sections, including the farmers and the poor.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
HFCs and banks expect a drop in demand for housing loans in the short-term.
The Paris-based global watchdog for curbing terror financing and money laundering will hold its virtual plenary session from October 21 to 23. It will review Pakistan's progress on the 27-point action plan.
The airline owes lakhs of rupees to passengers and its vendors.
While Raghunathan is a named accused in the CBI's case registered in October last year, Nedungadi had resigned recently from the post of CFO of the UB group.
'When Etihad initiated their bid, it was conditional.' 'They said only if someone takes a 'haircut' would they be interested.'
The court sentenced Saeed to five-and-a-half years and imposed a fine of Rs 15,000 in each case. The sentences of both cases will run concurrently.
Wanted diamond merchant Nirav Modi, who remains behind bars in a London prison as he contests his extradition to India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank (PNB) scam case, will find out the UK court's ruling in the nearly two-year-long legal battle on Thursday. The 49-year-old is expected to appear via videolink from Wandsworth Prison in south-west London at Westminster Magistrates' Court, where District Judge Samuel Goozee is set to hand down his judgment on whether the jeweller has a case to answer before the Indian courts. The magistrates' court ruling will then be sent back to UK Home Secretary Priti Patel for a sign off, with the possibility of appeals in the High Court on either side depending on the outcome.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
Subbarao said he would be "ok" if a sovereign bond issue in foreign currency is done once just to test the waters, but cautioned against using the instrument regularly.
Bombay Oxygen Investments Ltd shares have been witnessing a particularly sharp rally for many days now and have more than doubled from about Rs 10,000 level seen in March-end and the market watchers feel the only reason for this kind of stupendous rally is the name of the company.
'Isn't 11.3 million Instagram followers and 1.9 million Twitter followers enough to make you feel wanted and loved as a successful star?' 'Can a huge bank balance, a fleet of fancy cars, and a big house assure you happiness and contentment in life?' 'For Sushant, it did not.'
Many millennials believe that they have enough time to plan for long-term goals, hence they do not worry about goals such as retirement.
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
The Enforcement Directorate has registered a criminal case against controversial Islamic preacher Zakir Naik and his organisation IRF under money laundering laws.
Following in the footsteps of other public sector banks, Mumbai-based Bank of India (BoI) On Tuesday cut its benchmark prime lending rate (BPLR) by 50 basis points to 12 per cent and there are indications that State Bank of India may lower rates by the end of the month.
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these "nefarious transactions" by way of money laundering.
The government-appointed Satyam board had recently said that it secured Rs 600-crore (Rs 6-billion) bank loans, which would help it fulfil its immediate fund requirements. The lender's board, which met on January 23 to take a call on the IHFL sale, had deferred the decision, citing the need for more information about prospective buyers.
India looking at bringing back Choksi under Antiguan law applicable to Commonwealth countries
Sharad Pawar has left the door open for his nephew's return by not suspending him from the party for his rebellion.
Bankers say there is palpable fear among erring promoters that the banking system just cannot be taken for granted, and any delay in loan repayment could mean promoters losing business
Reports from Ludhiana, Coimbatore, Moradabad, Tirupur, Indore, Surat, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, suggest the impact of demonetisation is worsening.
The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.
The State Bank of India said on Monday it would launch a gold exchange traded fund in 2008. "We are examining this product in our mutual fund company and we are hopeful we should be able to come out with an ETF next year," O P Bhatt, SBI chairman said at a conference in Mumbai.
The Enforcement Directorate, which continued its searches against Modi, Choksi and their companies for the fourth day on Sunday , is also moving to attach at least two dozen immovable properties under the Prevention of Money Laundering Act.
In a soon to be published book, 'Of Counsel: The Challenges of the Modi-Jaitley Economy,' former chief economic advisor Arvind Subramanian says though RBI has a good reputation, it does not mean it's always right, as for years, the RBI was unable to grasp the seriousness of the loan repayment problems or identify the prolonged frauds of Nirav Modi and the likes.
Embattled liquor tycoon Vijay Mallya on Monday lost his high court appeal against his extradition order to India in relation to charges of fraud and money laundering amounting to an alleged Rs 9,000 crores.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
Alibaba, the world's biggest e-commerce firm by transaction value, supports small businesses on its platforms.
Pakistan in a letter to UN Security Council 1267 Committee has contended that Hafiz Saeed supports a family of four members, as a sole supporter, he is responsible for food, drink and clothes expenses for all family members.
If you plan to withdraw money from your corpus regularly to meet expenses, have a portfolio of stable instruments.
The repo rate, at which the central bank lends to the system, will come down to 5.75 per cent after the cut.
After reproaching the International Monetary Fund for its attack on India's SEZ policy, Union Commerce Minister Kamal Nath has criticised the Reserve Bank for its 'inconsistent approach' towards special economic zones. \n
Byju's, says Anita Kishore, has given the founders of the businesses it has acquired the independence to operate separately and maintain their core culture.
