Gopichand P Hinduja, chairman of globe-spanning Hinduja Group, died in London at the age of 85, sources close to his family said. Fondly known as 'GP' in business circles, Gopichand P. Hinduja was unwell for past few weeks and died in a London hospital, they said.
"India has immense credibility in the whole world because it is the largest and is a true democracy and I believe India can play a very important diplomatic role in bringing both sides together to resolve the misunderstandings they have," S P Hinduja, chairman of The Hinduja Group, said. "No one should suspect India because it is the best democracy in the world," he added.
The designer recalls how he made a sherwani for Michael Jackson in 'one day without measurements'.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
'A proper system needs to be introduced to regularise unaccounted money in India or abroad for being used for the country's economic and infrastructural growth,' the IndusInd International Federation said in a pre-Budget memorandum to Finance Minister Pranab Mukherjee. The IIF also suggested that the country needs to take up electoral reforms. The NRIs favoured state funding of elections and stopping the 'flow of money into the parallel economy.'
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Group Chairman S P Hinduja told a meeting of shareholders of IndusInd International Holdings Ltd in Dubai that the network would be set up by IndusInd Media and Communications Ltd, which is among the largest Cable TV companies in India with a customer base of 5.5 million households. IIHL has an indirect investment of about $385,000 in IMCL.
The expansion into nuclear is part of the group's plan to invest as much as $ 50 billion by 2014 to expand its business in the world's second-most populous nation. The group has already concluded talks with overseas companies which can offer technological and related support to enter the business. "There will be a flood of American investments in the country once the deal is concluded," S P Hinduja said.
As their flagship heavy vehicle manufacturer Ashok Leyland celebrated its diamond jubilee, the Hindujas Monday announced plans to acquire related businesses in Europe and the Middle East.
Hinduja Group chairman S P Hinduja on Friday called for transparent policies, simplified procedures, and better business environment in India to attract investments from overseas Indians and foreigners.
The Non-Residential Indian community in London felicitated Khalid Hameed, former High Sheriff of Greater London and erstwhile Chief Executive of Cromwell Hospital, on his elevation to the peerage.
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Hinduja business empire chairman S P Hinduja on Friday said his group was in the process of putting together huge funds in partnership with global investors for deployment in core sectors in India.
Sister-in-law of Bollywood superstar Amitabh Bachchan has won the award for her work in charity.
IndusInd Bank, a private-sector bank in India promoted by the UK-based Hindujas, will launch a $1 billion fund for deployment in the country's infrastructure sector besides its foray into semi-urban and rural areas.
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The Hinduja brothers, who top Britain's rich list, said in a statement that Finance Minister Arun Jaitley's Budget had set the direction for a 'very positive long-term agenda'.
The case has been brought by Srichand Parmanand Hinduja, 84, described as the "patriarch" of the family, against brothers G P Hinduja, 80, P P Hinduja, 75, and A P Hinduja, 69, and revolves around the "validity and effect" of a letter dated July 2, 2014. The letter includes statements to the effect that the brothers appoint each other as their executors, and that assets held in any single brother's name belong to all four. A related second letter, dated July 1, 2014, is also linked to the dispute.
Indian cricket legend Kapil Dev was also honoured with a Lifetime Achievement award at the ceremony.
Hinduja Group Chairman S P Hinduja on Saturday hailed the Modi government's Budget as "socially inclusive" that lays a clear roadmap for placing India on double digit growth trajectory in the medium term.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
59 of the 101 millionaires have seen an overall increase in net worth.
It said it was not convinced with the grounds of the CBI to condone over 4,500 days' delay in filing the appeal. The CBI had filed the appeal on February 2 this year.
Reliance Industries chairman Mukesh Ambani continues to top India's richest list, according to the Hurun India Rich List 2014.
The CBI had moved the trial court seeking permission for further probe in the matter saying it had come across fresh material and evidence.
The Hinduja Group, in partnership with a Spanish industrial company, has acquired UK's iconic Old War Office building that was once occupied by the country's war-time Prime Minister Winston Churchill.
The CBI filed the appeal against the May 31, 2005 decision of the high court by which all accused, including Europe-based industrialists Hinduja brothers, were discharged from the Rs 64-crore pay-off case.
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