INX case: Delhi court sends P Chidambaram to judicial custody till November 13
NEW DELHI: A Delhi court on Wednesday sent former finance minister P Chidambaram to judicial custody till November 13 in the INX Media money laundering case. Special judge Ajay Kumar Kuhar dismissed the plea of the Enforcement Directorate for one day custodial interrogation of Chidambaram. The court directed Tihar authorities to provide Chidambaram with medicines, […]
Clashes, shutdown as EU MPs reach Kashmir to assess ground situation
NEW DELHI: A delegation of 23 EU MPs arrived here on Tuesday for a first-hand assessment of the situation in Jammu & Kashmir to a complete shutdown and clashes between people and security forces in several parts of the city and the Valley. A convoy of security vehicles escorted the MPs, who were travelling in […]
Some countries using UN as ‘tool’ to resolve conflicts, rues Narendra Modi
NEW DELHI: Prime Minister Narendra Modi on Tuesday pressed for the reform of the United Nations while expressing regret over some countries using the global body as a “tool” rather than an “institution” to resolve conflicts. During an on-stage discussion with Founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates Ray Dalio, the Prime Minister […]
IndiGo seeks staff support amid biggest quarterly loss of Rs 1,062 crore
NEW DELHI: Budget carrier IndiGo on Tuesday sought the “support” of its employees following its biggest quarterly loss in the September quarter, saying that it will have to deal with the “weakening” revenue environment going forward. Hit by higher costs related to the operating lease liabilities, IndiGo reported a net loss of Rs 1,062 crore […]
Bank CEO held taking bribe
MACHILIPATNAM: Krishna district Co-operative Central Bank Chief Executive Officer N Rangababu was arrested by the Anti-Corruption Bureau (ACB) for allegedly accepting a bribe of Rs 1,00,000 on Tuesday evening, police said. According to the bureau ASP, S Saikrishna, the bank CEO was caught red-handed while accepting the bribe from complainant K Lakshmi Nancharaiah. Rangabbau had […]
IndiGo signs for 300 A320neo Family aircraft
NEW DELHI: India’s IndiGo has placed a firm order for 300 A320neo Family aircraft. This marks one of Airbus’ largest aircraft orders ever with a single airline operator. This latest IndiGo order comprises a mix of A320neo, A321neo and A321XLR aircraft. This will take IndiGo’s total number of A320neo Family aircraft orders to 730. “This […]
CBI arrests Pailan Group CMD in Rs 574-crore ponzi scam
NEW DELHI: The CBI on Tuesday arrested Pailan group chief Apurba Saha for illegally raising from the public through `fraudulent schemes’ in a Rs 574-crore ponzi scam case, officials said. Saha was arrested from the city by the economic offences wing of the investigating agency and would be produced at the designated court on Wednesday. […]
Delegation of EU MPs in Kashmir to assess ground situation
NEW DELHI: A delegation of 23 European Union MPs arrived here on Tuesday for a first-hand assessment of the situation in Jammu and Kashmir following the revocation of the state’s special status under Article 370. During the two-day visit, the EU MPs will be briefed by government officials on the situation in the Valley as […]
Economic slowdown hit jewellery and apparel sales this Diwali: Report
NEW DELHI: Festive shopping for jewellery and apparels has seen a massive hit in the run-up to the Diwali festivities, a report said on Monday. The average value of card transactions in the two affected segments dipped in the days leading to Diwali, according to the data released by transaction processing company, Worldline. Release of […]
Mukesh Ambani to set up Alphabet-like $15 billion digital company
NEW DELHI: Reliance Industries Limited (RIL), controlled by Asia’s richest man Mukesh Ambani, will set up a holding company on the lines of Alibaba Group Holdings and Alphabet that will create digital services and allow for a strategic or financial investor. The oil-to-retail conglomerate will infuse Rs 1.08 trillion ($15 billion) in the new company […]
AGR verdict: Sunil Mittal approaches Ravi Shankar Prasad, others over statutory dues
NEW DELHI: Telecom tycoon Sunil Bharti Mittal on Monday came knocking at the doors of top government officials including Telecom Minister Ravi Shankar Prasad, over billions of dollars in statutory dues like spectrum and licence fee liability that his and other telcos had not fully provisioned in their accounts. Sources said Mittal first met Prasad […]
Delhi police”s EOW books Jagdish Tytler, wife in land grab case
NEW DELHI: The Economic Offences Wing (EoW) of Delhi Police has registered a case against former Union minister and Congress leader Jagdish Tytler and his wife for alleged cheating and criminal breach of trust. Police said the complainant stated that Tytler and 10 other persons had illegally usurped two plots at Delhi”s Karol Bagh area. […]
Close to 70 senior bankers in fray for Laxmi Vilas Bank top-post
MUMBAI: Close to 70 senior bank executives are in the fray to occupy the corner room office of the chief executive and managing director of the Tamil Nadu-based lender Laxmi Vilas Bank (LVB). The Chennai-headquartered mid-sized private sector bank has been headless since mid-September after the then chief executive Parathasarathy Mukherjee left before the completion […]
E-cigarette traders write to CMs seeking help against ban
KOLKATA: An association of e-cigarette traders, in the wake of the recent nationwide ban on electronic nicotine delivery systems (ENDS) by the Centre, has sought the intervention of state governments into the matter. The Trade Representatives of Electronic Nicotine Delivery Systems (TRENDS) has written to all chief ministers, and are hopeful of receiving replies from at […]
GVK to raise Rs 7,614 crore to retire debt of its holding companies
NEW DELHI: GVK Group companies have entered into definitive agreements with subsidiaries of the Abu Dhabi Investment Authority,Canada’s Public Sector Pension Investment Board and National Investment and Infrastructure Fund to raise Rs 7,614 crore investments into GVK Airport Holdings Limited. GVKAHL is the holding company of Mumbai International Airport Limited (MIAL) andengaged in the business […]
Pakistan turns down India’s request to open airspace for Narendra Modi’s flight to Saudi Arabia
NEW DELHI: Pakistan on Sunday said it has denied India’s request to allow Prime Minister Narendra Modi’s VVIP flight to use its airspace for his upcoming visit to Saudi Arabia, citing the alleged human rights violations in Jammu and Kashmir. In a statement, Foreign Minister Shah Mahmood Qureshi said Pakistan has decided not to allow […]