It was in 2009 that the accounting regulator set up a special disciplinary committee, comprising six members, to look into the fraud in Hyderabad-based IT firm.
Irda to raise provisioning norms to 163-213 per cent.
R-Cap, part of the Anil Dhirubhai Ambani Group, may get a controlling stake in the venture if the negotiations fructify.
The latest available data from the Reserve Bank of India show a 77 per cent jump in the FDI in the first half of the current financial year (April-September), compared to what was $19.5 billion the same period a year ago.
His debt woes may continue and losses double, but the King of Good Times was clearly in a defiant mood at a press meet in a packed venue in a suburban hotel in Mumbai on Tuesday.
Insurer seeks leeway to invest in sub-AAA-rated companies.
The Burman family is in talks to buy less than 26 per cent stake in Espirito Santo India.
Amid the ongoing controversy surrounding net asset value-guaranteed products, the Insurance Regulatory and Development Authority is standardising the method of calculating NAV under the unit-linked plans of life insurance companies.
Indian banks are knocking the regulator's doors, seeking approval to open branches in Dhaka, the capital of Bangladesh, as they sense an opportunity to cater to the business community involved in the trade of non-Basmati rice.
BT has been associated with Tech Mahindra since the latter's inception and contributes 40 per cent to the firm's revenue but it has been looking at divesting its stake.
Reliance Capital, the financial service arm of the Anil Dhirubhai Ambani Group, has already started the due diligence process and is expected to complete this by the end of this financial year.
Regulator plans minimum death benefit at five times the annual premium.
According to two independent sources in the know, GVK's lead underwriter, ICICI Bank, plans to reduce its exposure in the highly leveraged transaction. Following the move, the other PSU lenders have told GVK they, too, would like to proportionately bring down exposure.
Highest NAV guarantee products accounted for a fifth of Ulip sales after pension plan sales dried up following the stringent norms on Ulips from September 2010.
Draft norms reduce investment ceiling from 25% to 5%.
Discussions have been initiated to sell the company to a Mumbai-headquartered, highly diversified, multi-billion dollar corporate group which has interests in retail and logistics, among various others.
A host of companies started the ground work for their banking play.
The premium would rise, despite 'no claims' during 2010-11 and the same fleet size.
According to two independent sources in the know, the group is exploring the possibility of tapping private equity investors for a significant minority stake in the company or may even exit the business, provided it gets a significant exit premium.
This is a major relief for life insurers, as pension products used to account for nearly 30 per cent of their sales before the new regulations came into force.
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