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Page 3590 - Business Finance

CBI seeks RCN against Nirav Modi

The CBI has asked the Interpol to issue a Red Corner Notice against absconding billionaire jeweller Nirav Modi in the over USD 2 billion banking scam involving Punjab National Bank, officials said today. The agency has written to the Interpol to issue the notice which would mean that the member countries of the Lyon-based international police cooperation agency can arrest and extradite Nirav Modi who fled the country in the first week of January, weeks before the bank filed a complaint with the CBI. Nirav Modi was last publicly seen in a Press Information Bureau group photograph of CEOs and top brass of Indian corporate sector with Prime Minister Narendra Modi at Davos, Switzerland. A week later, the CBI registered an FIR against him on the basis of complaint against him and his uncle Mehul Choksi. His brother and wife were also named as accused in the FIR. His wife Ami, a US citizen, brother Nishal a Belgian, and uncle Choksi, Gitanjali group's promoter, had also fled the country in .

Updated On : 11 Jun 2018 | 6:00 PM IST

Vedanta takes over management control of Electrosteel

Anil Agarwal-promoted Vedanta has acquired the management control of the debt-ridden Electrosteel after its resolution plan was approved by the National Company Law Tribunal under the IBC.

Updated On : 11 Jun 2018 | 5:50 PM IST

V-Mart Retail opens fashion store in State of Uttar Pradesh

Total stores increases to 178 stores

Updated On : 11 Jun 2018 | 5:50 PM IST

Takeda shareholder group aims to block $62 billion Shire deal

TOKYO (Reuters) - A group of Takeda Pharmaceutical Co Ltd shareholders is trying to build support to block the $62 billion acquisition of London-listed Shire Plc at an extraordinary general meeting, a leading member of the group told Reuters on Monday.

Updated On : 11 Jun 2018 | 5:45 PM IST

Assocham for implementation of model guidelines on direct

Leading industry body Assocham has appealed to the government to advise all states for speedy implementation of Model Direct Selling Guidelines issued by the consumer affairs ministry in September 2016. Assocham's direct tax force on direct selling had written to the consumer affairs minister Ram Vilas Paswan stating that after 18 months of issuance of these guidelines, the industry has not seen much progress in their implementation. Some of the states such as Sikkim, Telengana, Chhattisgarh and Andhra Pradesh have implemented the guidelines while most of the states are yet to adopt them, Assocham said in a statement. The guidelines would recognise the sector and remove the misconception about the industry as a pyramid and money circulation schemes. According to The Indian Direct Selling Association (IDSA), the number of direct sellers has witnessed a considerable increase to 5.1 million in 2016-17 from four million in 2015-16. Vijay Saldana, chairman of the Task Force .

Updated On : 11 Jun 2018 | 5:45 PM IST

SAARC Development Fund to hold 2-day conclave in Delhi next month

SAARC Development Fund will hold a two-day partnership conclave here next month, aimed at strategic growth in the South Asia region through project collaboration and regional integration, SDF Executive Director Sunil Motiwal has said. Niti Aayog CEO Amitabh Kant will deliver the keynote address at the conclave beginning July 2. The conclave proposes to solicit cross-border project co-financing under the "social, economic and infrastructure windows of SDF" in SAARC member states, Motiwal said. The thematic concepts to be discussed during the conclave for funding would be energy, transportation, ICT, trade and commerce, agriculture and allied sectors, and poverty alleviation, among others. SDF has also invited bankable project as it is exploring the possibility of forming a consortium of funding agencies for co-financing of projects in the SAARC countries, Motiwal added. The Thimphu-based SDF was established by the heads of the eight SAARC Member States -- Afghanistan, Bangladesh, ...

Updated On : 11 Jun 2018 | 5:35 PM IST

Board of Max Ventures and Industries approves rights issue of up to Rs 449.89 crore

At meeting held on 11 June 2018

Updated On : 11 Jun 2018 | 5:31 PM IST

Tata Steel Europe workers question raionale of Thyssenkrupp tie-up

LONDON/FRANKFURT (Reuters) - Tata Steel's European labour representatives said they remain unconvinced by a planned joint venture with Thyssenkrupp, adding there were still numerous details that needed to be hammered out before they could endorse a deal.

Updated On : 11 Jun 2018 | 5:25 PM IST

Petrol prices: Fall in fortnight less than half the rate of rise earlier

Domestic petrol prices, which had hit record levels for 16 consecutive days in May, have been on the reverse trend for the last 13 days, including Monday, but the relief for consumers has been slow in coming.

Updated On : 11 Jun 2018 | 5:21 PM IST

Markets end flat as Trump-Kim rendezvous takes centrestage

Benchmark indices succumbed to a sudden late-session sell-off to end with modest gains today as investors pared their portfolios amid mixed overseas cues. Global markets shrugged off an unprecedently fractious G-7 summit and focussed on the upcoming meeting between US President Donald Trump and North Korean leader Kim Jong Un in Singapore. The BSE Sensex, which had soared over 232 points in intra-day deals, finally closed at 35,483.47 -- up by just 39.80 points. The broader NSE Nifty rose 19.30 points to 10,786.95, after breaching the 10,800-mark in morning trade. Telecom, consumer durables and healthcare stocks led the gains. Banking stocks too saw buying interest after the government last week constituted a panel for faster resolution of bad loans. Meanwhile, domestic institutional investors bought shares worth a net Rs 459.44 crore, while foreign portfolio investors sold equities to the tune of Rs 222.50 crore on Friday, provisional data showed. "Market traded positively during ...

Updated On : 11 Jun 2018 | 5:20 PM IST