Mumbai: Sahara Group chief Subrata Roy and top executives reached Sebi's office to appear before the market regulator in connection with the high-profile refund case involving an estimated Rs 24,000 crore payment to over three crore investors. Sebi had said that if they failed to appear, it would issue orders for the attachment and sale of its assets. The Supreme Court had ordered Sebi to get Sahara repay its investors...
03:14 PM, Apr 10, 2013
Mumbai: The Mumbai Economic Offences Wing has launched a preliminary investigation against the Sahara Group. The probe will focus on whether Sahara is intimidating investors. The Mumbai EOW chief has told CNN-IBN that they have been asked by the Government of India to probe Sahara. This comes even as Sahara group chief Subrata Roy has to appear before market regulator Sebi on Wednesday in the high-profile refund case involving an...
12:26 PM, Apr 10, 2013
New Delhi: Advocating an open set of rules for overseas investors, NRI industrialist Lord Swraj Paul has said that India should just specify the level of permitted foreign investment in each sector and let the companies accordingly invest without any individual approval procedures. Terming the current economic problems as a course correction and a passing phase, he also said that India's economic growth prospects remain intact and the country needs...
12:56 PM, Apr 08, 2013
India's economy is capable of absorbing $50 billion in foreign direct investment per year, Finance Minister P Chidambaram said on Monday. Addressing a news conference during a visit to Tokyo promoting India as investment destination, Chidambaram also reiterated that growth in Asia's third-largest economy was expected to accelerate in the current fiscal year to March 2014. ...
02:25 PM, Apr 01, 2013
After selling India story to investors in Hong Kong, Singapore and Europe, Finance Minister P Chidambaram is leaving for Japan on Monday to attract foreign investment. Chidambaram would meet his Japanese counterpart and institutional investors during his three-day official visit to Japan, sources said. ...
01:46 PM, Mar 31, 2013
Asian shares fell and the euro was capped on Tuesday as investors contemplated potential flow-on risks from the Cyprus bailout scheme. Large uninsured depositors and bondholders will bear heavy losses in the bailout, which Dutch Finance Minister Jeroen Dijsselbloem, who heads the Eurogroup of euro zone finance ministers, said represented a new template for euro zone and other countries which may have to restructure their banking sectors. ...
09:24 AM, Mar 26, 2013
Despite the recent series of economic reform being pushed by the Indian government, US investors and officials have told a visiting top Indian official that doing business in India is "messy". ...
11:59 AM, Mar 23, 2013
Not every executive challenges his regulatory tormentors to a televised debate, but Subrata Roy, who heads India's Sahara conglomerate, is not your typical CEO. "Enough is Enough," Sahara said in full page ads this week, days after the Securities and Exchange Board of India (SEBI) sought Supreme Court approval to arrest Roy and two Sahara directors, escalating a battle between the regulator and one of corporate India's most enigmatic personalities....
04:05 PM, Mar 22, 2013
Citigroup Inc has agreed to pay $730 million to settle a class action lawsuit on behalf of investors who said they were misled by the company's disclosures. ...
05:42 AM, Mar 19, 2013
To attract more overseas investment into the country, government is working on bringing new norms for a common KYC for foreign institutional investors (FII), Finance Minister P Chidambaram said on Monday. ...
03:33 PM, Mar 11, 2013
DLF, India's biggest property developer, said its board of directors will meet on Wednesday to consider the sale of shares to institutional and retail investors to comply with the minimum public shareholding rules. ...
12:20 PM, Mar 05, 2013
British companies are looking for opportunities in India, especially in the infrastructure space that is expected to see investments worth USD 1 trillion in five years, according to global consultancy Deloitte. ...
04:05 PM, Mar 04, 2013
India's 2013/14 budget unveiled last week offers a "realistic" plan to meet the country's fiscal deficit target, and should be a credit positive for its sovereign ratings, Moody's Investors Service said in a report on Monday. ...
11:35 AM, Mar 04, 2013
Investors sentiments were spooked because rules were tighten in the Budget 13-14 for those based in Mauritius, seeking to avoid double taxes. Overseas investors will also have to provide the certificate that they are the final beneficiaries apart from the residency certificate. ...
10:15 AM, Mar 01, 2013
India said a tax residency certificate was necessary but no longer enough to claim benefits under double taxation avoidance agreements, according to the Finance Bill tabled in parliament on Thursday. The amendment is sparking fears that tax authorities would have wider discretion to go after foreign investors who have usually benefitted from investing from countries such as Mauritius that have double-tax avoidance treaties with India. ...
06:50 PM, Feb 28, 2013
The last hope of Sahara Group to get more time to refund Rs 24,000 crore to its investors was on Monday dashed in the Supreme Court which dismissed its plea and pulled it up for not complying court's earlier order to return the money by first week of February. A bench headed by Chief Justice Altamas Kabir, which had earlier extended the deadline to two companies of the group for...
06:47 PM, Feb 25, 2013
The stock market is likely to witness high volatility this week as investors are treading the cautious path ahead of the Union Budget 2013-14, experts say. Market players said the short-term momentum is clearly negative for the market as market participants are cautious ahead of the Union Budget and are not increasing their positions amid expiry of derivatives next Thursday. ...
03:34 PM, Feb 25, 2013
British Prime Minister David Cameron continued his attempt to woo Indian students and businesses by offering new visa services for Indians. He said the United Kingdom will introduce same day visa services for Indian investors. ...
10:18 AM, Feb 19, 2013
Disappointing news about Germany's economy sent world stock markets down on February 15 as investors turned their attention to a major economic conference this weekend. Britain's FTSE 100 fell 0.2 per cent to 6,318.14. Germany's DAX lost 0.3 per cent to 7,607.49 and France's CAC-40 shed less than 0.1 per cent to 3,668.30. ...
03:00 PM, Feb 15, 2013
Key equity benchmarks ended trade in the red however off the day's low. The BSE Sensex closed down 61.97 points at 19435.21 after touching an intraday low of 19,381.82. ...
09:39 AM, Feb 15, 2013
