Shares of DB Realty (DBRL.NS) rose almost 14 percent following the news. They surged 8 percent to 76.80 rupees, in a Mumbai market that closed 1 percent lower on Tuesday.
Last week, the Supreme Court had granted bail to five company executives, raising hopes that others including some politicians may be freed.
Balwa’s release comes a day [...]
The Delhi High Court today sought the CBI’s response on the bail plea of sacked CWG Organising Committee chief Suresh Kalmadi in a Games-related scam case, who cited the Supreme Court ruling that bail should be the rule and jail an exception.Justice Mukta Gupta issued notice to the probe agency and sought its reply on [...]
India’s top investigation agency has registered a case against two major Indian mobile operators and former government officials in connection with alleged irregularities in the allocation of additional 2G spectrum in January 2002, widening the scope of its investigations into alleged scams in India’s telecom sector.
The offices of the two mobile operators, Bharti Airtel, India’s [...]
India’s Agriculture Minister Sharad Pawar was slapped in the face yesterday by a Sikh youth protesting against price hike of essential goods and corruption.
Sharad was coming out of a literary award function at New Delhi Municipal Corporation convention when the youth, identified as Harvinder Singh, made the attack, reported our New Delhi correspondent.
BBC quoted Harvinder [...]
The Delhi High Court has put on hold the trial court’s decision to shift the trial in telecoms scandal to the capital’s Tihar jail where all the accused are lodged.
This followed an appeal by defence lawyers that the shifting of the trial would cause inconvenience to them and the accused.
The court has now directed its [...]
Starting out from Bihar on October 11, the veteran leader of many yatras, was addressing a large gathering at Mandi in his ongoing Jan Chetna Yatra here today.Raking up the issue of tax evaded Indian money stashed in Swiss and other foreign banks, Advani said that BJP had demanded that it be returned to the [...]
The announcement was made by the court on Wednesday after the relatives and lawyers of the accused objected over the shifting of the venue.They said that the shift from Patiala House court complex to Tihar jail court complex had no valid reasons behind it. Acting Chief Justice A K Sikri, who is heading the seven-judge [...]
The accused in 2G spectrum case on Wednesday approached the Delhi High Court challenging its administrative decision to shift the trial in the case from its present venue at Patiala House courts to high-security Tihar Jail.Around 15 defence lawyers mentioned the matter before a bench of justices S K Kaul and Rajiv Shakdher and sought [...]
The Supreme Court granted the first bails in the 2G case Wednesday, to five top corporate executives, raising hopes of other accused in the case including former Telecom Minister A Raja and DMK MP Kanimozhi who have been in prison for over six months.
A Bench comprising justices G S Singhvi and H L Dattu directed [...]
India’s federal police on Saturday conducted searches at Vodafone’s Indian unit and Bharti Airtel’s offices seeking details on spectrum allocation by the government to operators between 2001-02.
The searches were in regard to possible irregularities in allotting spectrum during the previous government led by the Bharatiya Janata Party (BJP), now in opposition, Central Bureau of Investigation’s [...]
Priyanshi Srivastava, a second-year student at the Footwear Development Design Institute here in Amethi, was quite taken with lawmaker Rahul Gandhi during his recent visit to the institute that he helped start.
“I never expected he’d have such a deep knowledge about leather goods,” Srivastava said of the scion of India’s most famous political family.”And I [...]
Not far from the golden beaches and blue waters of Goa, a top Indian vacation destination, a burgeoning corruption scandal is unfolding that could embarrass the government and tarnish the country’s mining sector.
Goa state accounts for nearly half of India’s 100 million tons of exports of iron ore last year, most of which went to [...]
With one of the world’s most expensive yachts and a cricket and Formula One team, Kingfisher Airlines’ billionaire Chairman Vijay Mallya is known as “King of the Good Times” for a jet set lifestyle that shadowed India’s own rise as an economic power.
Now India’s ” Richard Branson”, a symbol of the hands-on, publicity-hungry and [...]
Jats have a history of troubling Rajasthan chief minister Ashok Gehlot in his political career. The recent episodes involving removal of Jat ministers Mahipal Maderna and Ram Lal Jat following their alleged ‘immoral conduct’ seems to be the latest. Already, Gehlot faces the ire of the high command after the Gopalgarh riots in Bharatpur where [...]
At this point, writing an update on the continuing travails of former International Monetary Fund chief Dominique Strauss-Kahn seems a bit like flogging a deader than dead horse. But because unfolding developments appear to be delivering the coup de grace to any hopes Strauss-Kahn had of returning to public life–and reportedly destroying his private life, [...]
orporate executives, social activists and government officials differ on the reasons behind India’s poor corruption record, but they all agree that the malaise has dented the nation’s image as a business destination and dissuaded both domestic and foreign companies from investing.
While corporate executives advocate lesser government control to reduce corruption, the government says it is [...]
The scandal involves the alleged selling of mobile phone frequency licences for a fraction of their value.Former telecoms minister A Raja and MP Kanimozhi are among 14 people from telecoms firms or government who have been charged. All deny any wrongdoing.
Auditors allege the mis-selling of the licences cost the exchequer nearly $40bn (£24.5bn) in lost [...]
The Bombay Stock Exchange’s Sensex was witnessing profit booking even as the Asian markets were modestly up. According to analysts, the correction in the benchmarks is due to sharp decline in Asian markets a day ago while Indian markets were shut on account of festive holiday.
“The Indian market was spared a rollercoaster ride on [...]
India and Pakistan in effect resumed the composite dialogue that was stopped by the Mumbai 26/11 terrorist attack, with both sides hailing it as a “new chapter” in bilateral relations. New Delhi, however, declined to describe it as a revival of the composite dialogue and Prime Minister
Manmohan Singh told Pakistani premier Yousuf Raza Gilani that [...]
Asserting that the corruption has been taken to new levels in the country during the rule of Prime Minister Dr. Manmohan Singh and Congress President Sonia Gandhi, Bharatiya Janata Party (BJP) veteran Lal Krishna Advani on Monday termed the cash-for-votes scam the dirtiest scandal in the history of independent India.
Addressing a gathering here on the [...]
Olympus Corp. said on Tuesday that the top executives used acquisitions to hide massive losses, reversing denials of any wrongdoing.As the Satyam scam had hit India, this scam emerged as one of the largest accounting frauds in the Japanese history tarnishing the nation’s corporate image.Tokyo-based Olympus, which makes cameras and medical equipment, has been battered [...]
The outcome of the trial of the three Pakistani cricketers is an occasion for deep sadness. There is first the sadness at the humiliation and disgrace attaching to colleagues; fellow professionals, members of that small group of players lucky enough to have played international cricket.
Then there is the sadness for the game itself. What sort [...]
India’s richest are losing wealth due to inflation and corruption scandals, according to Forbes magazine, which says that the combined wealth of the country’s 100 wealthiest is down 20 per cent from a year ago. According to Forbes’ annual India Rich List, the total wealth of the country’s 100 richest has fallen to USD 241 [...]
International Cricket Council (ICC) chief executive Haroon Lorgat says the London court’s verdict in the corruption case against three Pakistani players should serve as a ‘further warning’ for cricketers who are tempted to indulge in corrupt practices.
Lorgat read out a statement here late Tuesday night at the ICC headquarters and said that the guilty verdicts [...]
The bail pleas of DMK MP Kanimozhi and seven others accused in the 2G spectrum allotment scam were Thursday dismissed by a CBI special court here. They will continue to be lodged in Tihar Jail.
Special CBI Judge O.P. Saini said: ‘All the bail applications are dismissed. The court will begin its trial from Nov 11.’Saini [...]
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