Vijay Mallya bankrupt, declares London High Court

The ruling will help the consortium of Indian banks led by the State Bank of India to recover debt from loans given to Vijay Mallya’s now-defunct Kingfisher Airlines by seizing his India assets.

His Lawyers Win Nirav Modi Case

The judge said it was not for his court to determine guilt or otherwise, and the arguments being presented to him were going into “too much detail”.

Confiscated Shares Of Vijay Mallya, Nirav Modi, Mehul Choksi Sold. SBI Thus Recovers 792 Crores

A Consortium of banks led by the country’s largest lender, State Bank of India (SBI), has realised Rs 792.11 crore after selling shares handed over to it by the Enforcement Directorate (ED), following confiscation to assets of fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi. The ED said that till date assets worth Rs 13,109.17 crore have been handed over to banks.

Gold mutual funds are a better option than Sovereign gold bonds

Investors who have a portfolio with an allocation to different asset classes should avoid SGBs. The new issue of Sovereign Gold Bonds (SGBs)  opened on 12 July at ₹4,807 per gram. SGBs are an excellent product for gold buyers. But for investors, it may not make much sense.

Gold Price Prediction – Prices Consolidate as the Dollar Remains Rangebound

Gold prices continue to move sideways as recent economic data has kept U.S. Treasury yields rangebound, holding the dollar in check. The dollar index consolidated its recent gains, which removed some of the resistance gold prices have been seeing. Weaker than a decline in jobless claims offset expected U.S. Durable goods orders. The jobs data will be a key factor for the Fed. Chair Powell will begin to feel more comfortable tapering when jobless claims decline to levels that were seen before the pandemic.

No scrutiny on housewives' cash deposits upto Rs 2.5 lakh post Demonetization

Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases.

Banks Get ₹9,371 crore assets of Vijay Mallya, Nirav Modi, Mehul Choksi

The Enforcement Directorate (ED) on Tuesday transferred assets worth ₹8,441 crore to banks who suffered losses due to frauds by Vijay Mallya, Nirav Modi and Mehul Choksi. The three fugitives cheated the public sector banks of ₹22,586 crore, out of which 80.45% ( ₹18,170 crore) has been attached/seized by the ED. Vijay Mallya is accused of defrauding a consortium of banks, including the State Bank of India. Both Nirav Modi and his uncle Mehul Choksi are wanted in the Punjab National Bank (PNB) fraud worth ₹14,500 crore.

In India, gold hallmarking mandatory from June 15

In India, gold hallmarking mandatory from June 15

NEW DELHI - The Indian government has enforced mandatory hallmarking of gold jewellery and artefacts from 15 June. Halmarking is not mandatory for the jewellers with turnover of Rs 40 lakh and below. As per the new guidelines, jewellers across India will now be allowed to sell gold items of only 14, 18, 20, 22, 23 and 24 carats from June 15, 2021 onwards.

A $43 billion jump in Adani’s fortune fraught with risks

Adani’s net worth of $76.7 billion got a boost from a huge rally in Adani Total Gas, Adani Enterprises and Adani Transmission shares

Karnataka High Court verdict likely today about CCI vs Amazon-Flipkart case

The Karnataka High Court on June 11 is expected to deliver its verdict if the Competition Commission of India (CCI) can go ahead with a probe against Amazon and Flipkart for alleged anti-competitive practices, a judgment that will have a bearing on India’s expanding e-commerce space.

CBI Raids Avantha Group Founder Gautam Thapar In ₹ 466 Crore Fraud Case

Sources say that the premier investigating agency conducted searches at around 20 locations, including the premises of Gautam Thapar, and recovered damning evidence.

IPO impact? LIC chairman M R Kumar tenure extended till March 2022

This extension comes amid the proposed LIC IPO that could be done in Q4FY22. Kumar was to retire on June 30, 2021.

Singapore tribunal to hear Amazon-Future case on 12 July over RIL deal

The Singapore International Arbitration Centre (SIAC) has decided to hear the high-profile legal case between NV Investment Holdings Llc and Kishore Biyani-promoted Future Group over the latter’s ₹24,713 crore deal with Reliance Industries Ltd on 12 July, according to two people with direct knowledge of the matter.

Tatas buys BigBasket Stake; Prepares to take on Amazon, Flipkart

MUMBAI - Tata Group has acquired a majority stake in online grocery seller BigBasket for an undisclosed sum of money, pitting it against the likes of billionaire Mukesh Ambani’s Reliance and Amazon. The stake was bought by Tata Digital Ltd, a unit of Tata Sons, a joint statement by the two firms said. It neither disclosed the quantum of stake bought nor the deal size.

Vijay Mallya loses appeal for more funds to cover legal fees CitiBank is selling its India business and who will be willing to buy Technical View: Nifty forms bullish candle, needs to go past 14,880 to break out of range After The Bell: Sensex cracks 627 points, what should investors do on Thursday? Gold prices fall to Rs 44,655 per 10 gm, down 0.63% this week; silver tanks 3.22% Bank of Maharashtra, Bank of India, Indian Overseas Bank and the Central Bank of India are shortlisted for privatisation 1,030 crore Axis Bank loan fraud case: Peter Kerkar, 2 senior Cox and Kings executives arrested Mehul Choksi unlikely to return before 2027, says Antigua and Barbuda PMO Nirav Modi to Vijay Mallya: Here's a List of Economic Offenders Who Fled India After Being Named in Massive Loan Frauds Sensex, Nifty close at record high on HDFC boost Mukesh Ambani Fined For Manipulating Stock Market. His Companies Fined Too India's financial sector faces challenging times ahead - RBI Nifty, Sensex end at all-time highs on financials boost BMW Group India Inaugurates Two Dealerships in Thiruvananthapuram Oil drops as new coronavirus strain revives demand fears US puts India on currency manipulator watchlist Raghuram Rajan Heads Study On "Expert Analysis Of Danger Of Global Insolvency" Sensex, Nifty end flat. Investors book profits Tata Group Wants Coffee Day Takeover To Close Early Massively Oversubscribed Burger King IPO Opens Dec 10. Listing Premium 75% In Grey Market Sensex, Nifty end at record high on consumer goods boost Foreign funds colonizing Indian startups: founder Bikhchandani alleges Sensex, Nifty hit all-time high as banks, Reliance gain India's economic contraction slows as vaccines boost recovery hopes Raghuram Rajan Rips India Letting Corporates Float Banks. Says: "It's Bad Idea." Japan stocks end lower after Tokyo goes on highest virus alert Asia stocks edge higher after vaccine news. Wall Street hits record highs Microfinance industry grew by 31% in 2019-20, says report Amazon accuses Future Retail of insider trading. Seeks Investigation Indian shares close at record high as Biden wins U.S. election