Adani bonds slide to year low as investors, lenders weigh bribery allegations
- 25-Nov-2024
Adani dollar bond prices fell on Monday to almost one-year lows, as investors cut their exposure to the Indian conglomerate and some bankers considered pausing fresh lending in the wake of bribery and fraud accusations by U.S. authorities The group’s billionaire chairman, Gautam Adani, and seven other people were last week charged with agreeing to pay around […]
US authorities summon Indian billionaire Gautam Adani in bribery case
- 24-Nov-2024
WASHINGTON: The US Securities and Exchange Commission has issued a summons to Indian billionaire Gautam Adani, indicted on US bribery allegations related to a bombshell federal indictment against him, a court filing showed. The SEC is suing the head of the Adani Group and his nephew Sagar Adani, alleging they engaged in hundreds of millions […]
Mukesh Ambani loses over Rs 160000000000 in 24 hours
- 16-Oct-2024
Indian billionaire Mukesh Ambani has suffered a major setback as he lost over Rs 160000000000 within 24 hours. According to Indian media outlets, the Indian capital market remained volatile throughout the trading session, leading to a decline of 2 percent in the share price of Reliance Industries, chaired by Ambani. The fall in the share […]
Ratan Tata, former Tata Group chairman, dies at age 86
- 09-Oct-2024
Ratan Tata, the former Tata Group chairman who put a staid and sprawling Indian conglomerate on the global stage with a string of high-profile acquisitions, has died, the Tata Group said in a statement late on Wednesday. He was 86. Tata, who ran the conglomerate for more than 20 years as chairman, had been undergoing […]
Ratan Tata admitted to ICU in critical condition
- 09-Oct-2024
Ratan Tata, the chairman of one of India’s biggest conglomerates, has been admitted to the intensive care unit (ICU) of a Mumbai hospital in critical condition. Indian media outlets reported that the business tycoon was brought to the hospital in a critical condition on Wednesday, days after he assured media that he was in ‘good […]
India sends extradition request to UK for fugitive billionaire
- 03-Aug-2018
NEW DELHI: India has asked Britain to extradite billionaire jeweler Nirav Modi, one of the main accused in the $2 billion loan fraud at state-run Punjab National Bank (PNB). Modi’s whereabouts have been unknown since PNB in January said that two jewelry groups headed by Modi and his uncle, Mehul Choksi, defrauded the bank for […]
Interpol seeks arrest of Indian billionaire Modi
- 02-Jul-2018
NEW DELHI: Interpol has issued a red notice request to find and arrest fugitive Indian billionaire jeweler Nirav Modi, who is at the heart of a $2 billion-plus bank fraud case, the international agency said on its website. Federal police last month asked Interpol to issue a red notice to locate Modi, who has been […]
Indian billionaire proposes funding Facebook rival
- 28-Mar-2018
NEW DELHI: An Indian billionaire who promised to help fund a rival to Facebook said Wednesday he had been “overwhelmed” with the response as the world grapples with concerns about data privacy. Anand Mahindra, whose Mahindra Group business empire spans everything from cars to real estate, sparked a flurry of brainstorming as Facebook reels from […]