PNB fraud case: UK High Court denies bail to Nirav Modi, to stay in jail
Posted on 12th June 2019 |
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| The UK High Court on Wednesday denied bail to diamond merchant Nirav Modi, who is fighting his extradition from Britain to India in the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case. Judge Ingrid Simler at the Royal Courts of Justice said that there are substantial grounds to believe that Modi will fail to surrender. Moreover, the judge felt that there could be interference with the witnesses and obstruction of justice. Earlier, Modi's legal team presented arguments in an attempt to persuade the judge to overturn the Westminster Magistrates' Court ruling to deny bail during three previous attempts, for fear that the 48-year-old would fail to surrender. Modi has already been denied bail at three previous attempts at Westminster Magistrates' Court in London, as the judge ruled there was "substantial risk" that he would fail to surrender and deemed the bail security offered as insufficient. He was arrested by uniformed Scotland Yard officers on an extradition warrant from a Metro Bank branch in central London on March 19 and has been in prison since. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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