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Shikha to cut short her stay at Axis

Shikha Sharma has decided to cut short her tenure at Axis Bank, the country's third largest private sector lender. Sharma, who had won a fourth extension from its board till June 2021, will now be at its helm only till December 31, 2018, subject to Reserve Bank of India's (RBI) approval.
Our Special Correspondent Apr 10, 2018 00:00 IST

Fitch frowns on ICICI

Current investigations into the disbursal of a Rs 3,250-crore loan by ICICI Bank to the Videocon group pose a reputational risk for the country's largest private lender, besides raising questions about its corporate governance, global ratings agency Fitch said on Monday.
Our Special Correspondent Apr 10, 2018 00:00 IST

Apex court Binani call on Friday

The Supreme Court will hear a special leave petition filed by Binani Industries to terminate the ongoing insolvency proceeding against subsidiary Binani Cement on Friday amidst protests from Dalmia Cement Bharat, which strongly objected to the proposed out-of-court settlement.
Our Special Correspondent Apr 10, 2018 00:00 IST

Lemon Tree opens strong

Hospitality chain Lemon Tree Hotels made a strong debut on the bourses on Monday with its shares ending with gains of nearly 28 per cent over the issue price.
Our Special Correspondent Apr 10, 2018 00:00 IST

Thyssen unions cry foul

Labour leaders at Thyssenkrupp are seeking more clarity from the management over a planned European joint venture with Tata Steel, warning of a possible fallout at the German group's sites.
Apr 10, 2018 00:00 IST

Cyprus keen to tap oil trade potential

Cyprus is keen to develop itself as an oil and gas hub in the European Union and is open to exploring investment and trade opportunities in the sector with India.
A Staff Reporter Apr 10, 2018 00:00 IST

China's Xiaomi dials Make-in-India number

Handset maker Xiaomi on Monday hosted more than 50 of its global component suppliers here to showcase opportunities in India, a move that it believes can bring as much as Rs 15,000 crore (about $2.5 billion) in investment and create up to 50,000 jobs in the country.
Our Bureau Apr 10, 2018 00:00 IST

Headway on Binani offer

Binani Industries Ltd (BIL) has said it has managed to get the crucial backing of the lenders to move the Supreme Court on Monday to terminate the bankruptcy proceeding against subsidiary Binani Cement.
Sambit Saha Apr 09, 2018 00:00 IST

Diamond duo spin shell web

Fugitive diamantaires Nirav Modi and Mehul Choksi had used a web of shell companies registered in Belgium, the UK, Hong Kong and Dubai to siphon off the loaned money, some for round-tripping to India as well as to funnel it to tax havens from where recovery would be next to impossible.
Jayanta Roy Chowdhury Apr 09, 2018 00:00 IST

PNB seeks say in US case

State-owned Punjab National Bank (PNB) has hired lawyers to represent itself in the bankruptcy proceedings of US-based Firestar Diamond, a group company of billionaire diamantaire Nirav Modi, who is accused of defrauding the lender of over Rs 12,000 crore.
PTI Apr 09, 2018 00:00 IST

Mixed bag from India Inc

Corporate India is likely to show an earnings improvement when it reveals its fourth quarter scorecard, starting Friday. However, growth will be lopsided as it is likely to be contributed only by a few sectors.
Our Special Correspondent Apr 09, 2018 00:00 IST

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