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It is proposed to revive the company through induction of a strategic partner by offloading the entire Government equity of around 95%. The balance 5% equity will remain with banks, financial institutions, corporate bodies and others. This will help arrest further drain of public money and also ensure economic growth of the company and its employees.
A lawyer today approached a Delhi court seeking a direction to CBI to implead various other persons, including Reliance ADAG chairman Anil Ambani, Tata group chief Ratan Tata and corporate lobbyist Niira Radia, as accused in the 2G scam case.
A special Central Bureau of Investigation (CBI) court on Friday ordered “forthwith” arrest of DMK MP Kanimozhi and Kalaignar TV MD Sharad Kumar after rejecting their bail pleas in the 2G spectrum case.
A United Nations human rights expert today welcomed the United Kingdom’s decision to limit lawsuits from so-called vulture funds that prey on the debts of the world’s poorest nations, and asked that the initiative be extended to cover the country’s overseas territories and dependencies.
IFRS 10 Consolidated Financial Statements includes a new definition of control, which is used to determine which entities are consolidated, and describes consolidation procedures. IFRS 11 Joint Arrangements describes the accounting for joint arrangements with joint control; proportionate consolidation is not permitted for joint ventures (as newly defined)
The CBI’s heart beats for the Tatas, 2G scam accused Shahid Usman Balwa alleged in court today, questioning the agency’s portrayal of the group as a victim of A. Raja’s spectrum allocations. Tatas never had any strained relations with Raja. In fact, he (Ratan Tata) had written to Raja praising him that he (Raja) has been rational, fair and action-oriented, Balwa’s lawyer Vijay Agarwal told special CBI judge .P. Saini.
Rejecting exporters’ repeated pleas, the Finance Ministry today said the popular DEPB tax rebate scheme will come to an end from June 30, saving revenue for the government.
According to a report by financial and business reserach firm Evalueserve, there will be pressure on the Rupee unless steps are taken to fix certain structural issues like high current account deficit and dwindling investments.The Indian Rupee may depreciate by around 20 per cent during next two years on account of dip in confidence about the domestic economy leading to outflow of funds.
The managing director of International Monetary Fund Dominique Strauss-Kahn, who has been arrested in New York on alleged rape charges, does not enjoy any diplomatic immunity, the US has said. Simultaneously, the White House said it has full faith in the capabilities of IMF to continue with the important role it is playing, despite the setback of its head being behind bars in a New York prison.
Haggard and unshaven after a weekend in jail, the chief of the IMF was denied release on bail Monday on charges of trying to rape a hotel maid as allegations of other, similar attacks by Dominique Strauss-Kahn began to emerge.
