Kochhar's counsel argued that according to Section 35B (b) of the Banking Regulation Act, prior approval of the RBI is required to terminate the contract of a bank's chairman or managing director. But in this case, the RBI approval came after the termination letter was served.
Bonino told Business Standard that the Italian delegation, which included almost 400 top Italian CEOs, was extremely bullish on enhancing business ties with India.
The group is making a foray into the telecom space even as it closes in on Daewoo Electronics.
The Videocon group would set up a BPO unit at Salt Lake, Kolkata, employing 25,000 people, its chairman Venugopal Dhoot said on Thursday.
According to research firm Gartner, the budget tablet category is expected to reach 182 million end-user devices by end of 2013, it said.
The Videocon group plans to set up a multi-product special economic zone at Shendra in Aurangabad district of Maharashtra at an investment of Rs 6,600 crore (Rs 66 billion).
Three bidders, including the Essar group, vying for the government stake in the Shipping Corporation of India have inked the confidential information memorandum, even as uncertainty remained over the fate of the sole international bidder.
Videocon Industries Ltd will spend Rs 2,000 crore (Rs 20 billion) for oil exploration and production activities, including Rs 800 crore ($183 million) abroad as part of its business plans.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
Dhoot Entertainment Network of the Rs 6,000-crore (Rs 60 billion) Videocon group has entered into an agreement with an Australian firm for launching 24-hour TV business channel - Money TV - in the country.
Zeev Leshem, Chief Operating Officer, Fortune online lottery, says the Indian online lottery market is big enough to accommodate at least five operators.\n\n\n\n
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
She received nearly 97.7 per cent of the votes in favour of her re-appointment, while nearly 2.32 per cent votes were cast against her
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
Most legal experts indicate the former ICICI Bank CEO will take the matter to court. Her contention will be she can't be fired and called guilty without proof.
ICICI's board has denied any wrongdoing, highlighting that the loan was underwritten in accordance with the bank's credit standards and was extended as part of a consortium involving over 20 banks.
ICICI Bank has quashed rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was no impropriety in the deal.
Avista helped some companies restructure their debt in such a way that overseas investors had to take a steep haircut
Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.
Jaydev Mody, chairman of Delta Corp, has bought the 65 per cent stake jointly held by Dattaraj Salgaocar and Shrinivas Dempo in the FC Goa football team, which is part of the Indian Super League.
NuPower will return loan with interest to consumer durables major by 2021
Prime Minister's Office wants CBI and tax dept to identify the actual beneficiaries of the transactions made in India and abroad.
'If she contests it, then these people will have to fight it in court.'
Twenty-six entities, including the Tatas, Aditya Birla Group, Anil Ambani-led Reliance Capital and Religare, apart from India Post, applied. Videocon Group, later on withdrew its application.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
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