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The Hero Group however did not disclose details of its financial involvement in the alleged Rs 300 crore Citibank fraud.

The collaboration will enable the two steel companies to cut costs and share raw material linkages, Ispat Industries Executive Director Anil Surekha said.
Besides the Tatas, a number of other Indian companies are also looking to ramp up their business, as the two countries have set a $100-bn target for bilateral trade.
The new store in New Delhi will house over 10,000 stock-keeping units and cater to professional businesses, institutions, restaurants and local retailers.
Earlier, Tata Steel's UK subsidiary Corus said it had signed an MoU with Thailand's largest steel producer Sahaviriya Steel Industries (SSI) to sell the TCP unit.
The brothers, promoters of Rs 2,500-crore Sanghi Group, are fighting a protracted battle for control of Group companies and have begun fresh negotiations.
Tata Group's associate Roots Corporation operates chain of budget hotels all over the country. The company refused to divulge details of the cost of expansion plan.
Emami's bid was turned down in favour of Reckitt Benckiser, which had submitted a bid of Rs 3,260 crore for the acquisition of Paras Pharmaceuticals.
Edinburgh-based Gammell, on his third trip to India since announcing a deal to sell up to 51 per cent stake in Cairn India, is believed to have met PMO officials too.
Chinese Premier Wen Jiabao assures India Inc that China is ready to open its markets to bring down India's soaring trade deficit with its Asian neighbour.