New Delhi: The Supreme Court on Wednesday pulled up the Sahara Group for issuing advertisements accusing Sebi of being a “sarkari gunda” (government goon) for taking action against it for not refunding over Rs 20,000 crore to investors. A bench of justices KS Radhakrishnan and JS Khehar took strong exception to Sahara’s advertisements. “...Don’t try to take us for a ride... You must understand you are facing contempt. Such acts will precipitate the matters. They (Sebi) are statutory authority, performing duties, implementing our orders. What is this?” the bench said.
Fitch upgrades outlook of telecom sector
New Delhi: Fitch on Wednesday upgraded outlook for the Indian telecom sector from ‘negative’ to ‘stable’.
‘SBI’s R9,576-cr QIP to before March 2014’
New Delhi: State Bank of India has said it will raise Rs 9,576 crore through institutional placement of shares and the issue would be out before March 2014.
Hero acquires 60% stake in Magneti JV
New Delhi: Hero MotoCorp has said it has acquired 17.49 lakh shares, constituting around 60 per cent stake, in its joint venture with Italian firm Magneti Marelli.
Delhi HC verdict on Nokia plea today
New Delhi: The Delhi High Court will pronounce on Thursday its verdict on Nokia’s plea for a direction to Income Tax department for lifting of the stay on transfer of assets here in view of its deal with Microsoft.
‘Telcos owe R17,980 cr, but under litigation’
New Delhi: Telecom operators owe the Centre Rs 17,980.77 crore in licence fee and spectrum charges, but the outstandings are under litigations, Parliament was informed on Wednesday.