The company approached Securities Appellate Tribunal ahead of its EGM scheduled for 22 June to seek shareholders' approval for the proposal to raise capital through the Carlyle deal.
SEBI said the resolution regarding the deal, which was to be put to a shareholders' vote on 22 June, was 'ultra-vires' or beyond the powers of the company's Articles of Association.
On second day of week-long hearing in London, Modi’s lawyer sought to cast doubt on allegations the jeweller fraudulently procured guarantees from PNB.
Diamond merchant Nirav Modi has been lodged at London's Wandsworth prison since his arrest this March in connection with the PNB fraud and money laundering case.
Punjab National Bank reported the new fraud to the Reserve Bank of India. The fraud took place at its Chandigarh branch, and in its Hong Kong and Dubai offices.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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