In his new role, chief Chinnakannan Sivasankaran's son Saravana is likely to manage 60% of the group's revenues
Eight-acre defunct mill land near the Siddivinayak Temple in Prabhadevi area has a development potential of two million square feet.
Siva group defaulted on payment in 2016 and is also facing CBI investigation
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
Siva Group had mandated JM Financial to hunt for a buyer, but investors shied away from the Indian telecom industry.
It was an event for budding entrepreneurs to showcase their Innovative Socio-Business Projects at IIT Madras organised by Genesis, a joint initiative of the Siva group (a $3-billion global conglomerate) and C-Tides (Cell for Technology Innovation, Development and Entrepreneurship Support), IIT Madras.
S Tel, a joint venture between Chennai-based Siva Group and Bahrain Telecom (Batelco), has been directed to immediately stop its mobile services in Himachal Pradesh, Bihar and Orissa, citing national security concerns.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
But it does not mention its views on the government demand to ban these two auditors for five years from business.
The company said, due internal processes as applicable for sanctions of loans of such nature and value were followed
The CBI has completed its probe against former telecom minister Dayanidhi Maran and others in 2G scam and will approach the Centre for taking sanction for prosecution, the agency told the Supreme Court.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
The Supreme Court on Thursday asked the CBI to go ahead with its probe in the Aircel-Maxis deal without waiting for necessary sanction against an official "holding high position" in connection with irregularities in the case arising out of 2G scam.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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