Recast may boost Airtel’s income in FY22: Analysts

Bharti Airtel’s new corporate structure allows it to split its revenues from the connectivity and digital services businesses, and in turn, cut its statutory payouts towards licence fees and spectrum usage charges (SUC), said analysts. This, they said, could potentially boost the company’s operating income from the India wireless business in the current fiscal. Analysts … Read more

Mukesh Ambani security scare: NIA arrests Sachin Waze’s associate Riyaz Kazi

The NIA on Sunday arrested police officer Riyaz Kazi, an associate of suspended cop Sachin Waze, in connection with the case of an explosives-laden SUV found near industrialist Mukesh Ambani‘s residence, a police official said. After his arrest, Kazi was produced before a holiday court here which remanded him in the National Investigation Agency‘s (NIA) … Read more

Sebi imposes Rs 25 cr penalty on Ambani brothers and others

Mumbai: The Securities and Exchange Board of India(Sebi) has imposed a total penalty of Rs 25 crore on current and former promoters of Reliance Industries Ltd (), including Mukesh Ambani, Anil Ambani, their mother, spouses and children, other family members and entities linked to them for alleged violation of takeover rules. In January 2000, RIL … Read more

Mukesh Ambani security scare: Param Bir Singh appears before NIA

Former Mumbai police commissioner Param Bir Singh appeared before the NIA here on Wednesday to record his statement in connection with the case of an explosives-laden SUV found near industrialist Mukesh Ambani‘s residence, an official said. Singh reached the National Investigation Agency‘s (NIA) office in south Mumbai in a car around 9.30 am, he said. … Read more

NIA custody of police officer Sachin Waze extended till April 7

A court here on Saturday extended the NIA custody of suspended police officer Sachin Waze till April 7 in the case of an explosives-laden SUV found near industrialist Mukesh Ambani‘s house and businessman Mansukh Hiran’s death. Waze, arrested on March 13, was produced before the special NIA court here after his earlier remand expired. The … Read more

Maharashtra names retd judge to probe allegations raised by Param Bir Singh

The Maharashtra government on Tuesday set up a committee headed by a retired judge of high court to probe the corruption allegations levelled by former Mumbai Police Commissioner Param Bir Singh against state Home Minister Anil Deshmukh. The one-member panel, to be headed by judge Kailash Uttamchand Chandiwal (retd), is given the time of six … Read more

Probe into Ambani security scare: NIA seizes Innova car

The National Investigation Agency (NIA), which is probing the recovery of a vehicle laden with explosives from outside industrialist Mukesh Ambani‘s residence in Mumbai, on Sunday seized a white Innova car, a police official said. It is not clear if it was the same Innova that was following the explosives-laden Scorpio before the latter was … Read more

Ambani bomb scare: Cops reach Tihar Jail to question terror convict on mobile phone recovery

A team of the Delhi Police’s Special Cell on Saturday reached Tihar Jail to question Tehseen Akhtar, who was arrested in 2014 when he was heading proscribed terror group Indian Mujahideen, in connection with the recovery of a mobile phone from his barrack, officials said. The mobile phone, according to police, is suspected to have … Read more

1 billionaire every 10 days: India’s ’20 count

MUMBAI: India has added one billionaire every 10 days in 2020 amid the pandemic. This was made possible by rising stock market valuation, which increased the number of worldwide billionaires by 412 to 3,228. There are now 209 Indian-origin billionaires, of which 177 are Indian residents. The total list, which continues to be topped by … Read more

RIL finalising O2C hiveoff as Aramco talks back on track

Deal negotiations with Saudi Aramco expected to gather momentum from April. Synopsis As per the scheme of arrangement, RIL’s oil-to-chemicals business consisting of its refining and petrochemicals assets, fuel retail (51 per cent in a JV with BP) and bulk wholesale marketing businesses will get hived off into a step-down subsidiary, to be initially wholly … Read more