ED arrests Ambience group promoter Raj Gehlot in money-laundering case
NEW DELHI: The ED has arrested Raj Singh Gehlot, promoter of the Ambience group, in a money-laundering case linked to an alleged bank loan fraud of Rs 800 crore, officials said on Thursday. They said Gehlot was arrested on Wednesday under the provisions of the Prevention of Money Laundering Act (PMLA). He was produced before […]
In boost for Indian IT, US to conduct rare 2nd lottery for H-1B applicants
NEW DELHI: The US Citizenship and Immigration Services (USCIS) said that a decision was taken after determining that the computerised draw of lots for H-1B visas conducted early this year did not give them enough number of Congressional mandated H-1B visas. The H-1B visa, most sought-after among Indian IT professionals, is a non-immigrant visa that allows […]
Supreme Court reserves verdict on Amazon’s pleas against Future-Reliance deal
NEW DELHI: The Supreme Court Thursday reserved verdict on the pleas of e-commerce giant Amazon against the Rs 24,713 crore deal for merger of Future Retail Ltd (FRL) with Reliance Retail. Amazon.com NV Investment Holdings LLC and FRL are embroiled in a bitter legal fight over the deal and the US-based firm has sought in […]
ArcelorMittal posts $4 billion net income in April-June quarter
NEW DELHI: Global steel giant ArcelorMittal on Thursday posted a net income of USD 4,005 million for the second quarter ended June 30, 2021. The world’s largest steelmaker had clocked a net loss of USD 559 million in the year-ago quarter, the company said in a statement. The Luxembourg-headquartered integrated steel and mining company follows […]
Rakesh Jhunjhunwala plans 70 planes for new ultra-low cost airline
NEW DELHI:Billionaire investor Rakesh Jhunjhunwala is planning on having 70 aircraft within four years for a new airline he wants to set up in India on optimism more people will travel by air. Jhunjhunwala, who is considering investing $35 million and would own 40% of the carrier, expects to get a no-objection certificate from India’s […]
Sundaram Home Finance seeks to raise Rs 2,500 crore to fund growth plans
NEW DELHI: Sundaram Home Finance Ltd, the subsidiary of non-banking finance company Sundaram Finance Ltd, reported a net profit at Rs 40.04 crore for the quarter ending June 30, 2021, the company said on Wednesday. The city-based company had registered net profits at Rs 33.94 crore during correpsonding quarter previous year, Sundaram Home Finance said […]
Yes Bank, Indiabulls Housing Finance enter co-lending setup for home loans
NEW DELHI: Yes Bank and Indiabulls Housing Finance have come forward for a strategic co-lending tie-up to source and service home loans. Under this strategic co-lending agreement, they will offer home loans to homebuyers at competitive interest rates, Yes Bank and Indiabulls Housing Finance said in a joint release on Wednesday. The partnership aims at […]
Basavaraj Bommai to take oath as Karnataka Chief Minister at 11 am on Wednesday
NEW DELHI: Newly appointed leader of the BJP legislature party Basavaraj Bommai on Tuesday said Governor Thaawarchand Gehlot has invited him to form the government and he will take oath as Chief Minister at 11 AM on July 28. “I have informed the Governor about my election as the leader of the legislature party. He has […]
Lok Sabha sees repeated adjournments amid Opposition protests over Pegasus, farm laws
NEW DELHI: Lok Sabha on Tuesday witnessed a series of brief adjournments amid uproar created by opposition members over various issues, including the Pegasus spying controversy and the three contentious agri laws. While no legislative business could be transacted, the House for the first time in the Monsoon session took up “matters of urgent public […]
Kirloskar family feud: Brothers’ firms spar over 130-year-old legacy
NEW DELHI: Kirloskar Brothers Ltd (KBL), led by Sanjay Kirloskar, on Tuesday accused four firms under his brothers Atul and Rahul of trying to “usurp” its legacy of 130 years and trying to mislead the public, which has been refuted by the other side. As the family feud simmers, KBL in a letter to capital […]
DLF’s Q1 sales bookings jump nearly 7-fold to Rs 1,014 crore despite Covid-19
NEW DELHI: Realty major DLF Ltd’s sales bookings jumped nearly 7-fold year-on-year to Rs 1,014 crore during the April-June quarter of this fiscal, on strong demand for its independent floors and luxury homes in Gurugram. The company’s sales booking stood at Rs 152 crore in the April-June quarter of the 2020-21 fiscal year because of […]
HDFC Bank’s Aditya Puri highest paid, ICICI Bank Sandeep Bakshi forgoes salary in Covid-19 year
NEW DELHI: HDFC Bank’s Aditya Puri emerged as the highest grossing banker among the top three private sector lenders in his retirement year with total emoluments of Rs 13.82 crore. His successor Sashidhar Jagdishan, who took over as the chief executive and managing director of the largest private sector lender on October 27, 2020 grossed […]
Found Rs 2,200 crore fictitious transactions: CBDT after raids on media group
NEW DELHI: The CBDT on Saturday claimed to have detected “fictitious transactions” of Rs 2,200 crore after the Income Tax Department carried out multi-city raids against the Dainik Bhaskar media group early this week. It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some […]
Forex reserves zoom to record high of $612.73 billion
NEW DELHI: The country’s foreign exchange reserves rose by USD 835 million to touch a record high of USD 612.73 billion in the week ended July 16, 2021, RBI data showed. In the previous week ended July 9, 2021, the reserves had surged by USD 1.883 billion to USD 611.895 billion. In the reporting week […]
Sensex ends 139 points higher; Nifty tops 15,850
NEW DELHI: Equity benchmark Sensex rose 139 points on Friday following gains in ICICI Bank, ITC and SBI amid a largely positive trend in global markets. The 30-share BSE index ended 138.59 points or 0.26 per cent higher at 52,975.80, while the broader NSE Nifty advanced 32 points or 0.20 per cent to 15,856.05. ICICI […]
Gorakhpur most favoured industrial destination after Noida
LUCKNOW:Gorakhpur is now emerging as the most favoured destination in Uttar Pradesh for industrialists after Noida. Gorakhpur, which is the home of Chief Minister Yogi Adityanath, has seen 259 small and big industrialists of the country acquiring land from Gorakhpur Industrial Development Authority (GIDA) to set up their factories in the district. According to the […]