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Total 4 results found. Search for [ Chinnakannan Sivasankaran ]

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BusinessToday.In
New Delhi, July 10, 2018
With the NCLT on Monday rejecting Cyrus Mistry's allegations of lapses in governance on part of the Tata Group in dealings with Aircel, Sivasankaran has reportedly bucked up and is planning a counter-attack.


BusinessToday.In
New Delhi, April 27, 2018
PNB hunts for detectives to find whereabouts of loan defaulters The Punjab National Bank (PNB), it seems, is leaving no stone unturned to recover the dues which have been classified as NPAs. The second largest public sector lender is soliciting services of detective agencies to get hold of absconding loan defaulters. The significant move comes amid reports that diamantaire Nirav Modi may be hiding in New York. The celebrity jeweller who owns Firestar Diamond is the main accused in the Rs 13,700-crore fraud at the Punjab National Bank. In an advertisement posted on the PNB's website, the bank lists out locating 'untraceable' loan borrower(s), guarantor(s), mortgagor(s) and their legal heirs both within and outside India as one of the objectives of PNB's latest policy on engagement of detective agencies.IDBI Bank fraud: CBI books former Aircel promoter Sivasankaran, top bankers for Rs 600-crore loan scamOnce he was hailed as a deal master, but now Chinnakannan Sivasankaran, better known as Siva, is grabbing headlines for all the wrong reasons. The CBI has registered a case against the former Aircel promoter, his son and companies controlled by him - Axcel Sunshine Ltd and Finland-based WinWinD Oy - for allegedly defaulting on loans worth Rs 600 crore taken from IDBI bank.The agency has named 15 bank officials who worked at senior levels at IDBI Bank in 2010 and 2014 when loans were sanctioned to the companies controlled by Sivasankaran in its FIR registered on a complaint from the Central Vigilance Commission.Axis Bank reports first quarterly loss due to bad loansAxis Bank Ltd reported its first ever quarterly loss on Thursday after a surge in bad loans, capping a troubled year for the country's third-biggest private sector lender by assets, as reported by Reuters. While the bulk of India's 9.5 trillion-rupee soured-loans as of end-2017 were with the country's dominant state-run banks, among the private sector lenders Axis and its bigger rival ICICI Bank also account for large chunks. The third largest private sector lender posted a net loss at Rs 2,188.74 crore in the Q4FY18, as opposed to a net profit of Rs 1,225.10 crore in the corresponding quarter last year.Amazon India setting up 5 new warehouses Amazon on Thursday said it is setting up five more warehouses in as many cities including Bengaluru, Gurgaon and Mumbai, as reported by Mint. The global e-tailing giant is aiming to strengthen its delivery capabilities amid intense competition from rivals like Flipkart. With the addition of these new facilities, Amazon will have 67 fulfilment centres (FCs) in 13 states, with a total storage capacity of over 20 million cubic feet, it said in a statement. The company said these FCs will be fully operational before the festive season of 2018 but didn't disclose any investment details. FCs are warehouses where sellers can stock their inventory. Amazon.in's network of FCs will enable tens of thousands of small and medium businesses to fulfil their orders in a cost-efficient mannerNirav Modi hiding in US, flew out of Hong Kong in FebruaryHours before Prime Minister Narendra Modi left for Beijing, came reports that Nirav Modi is no longer holed up in Hong Kong. He had in fact left Hong Kong for the UK on February 14. It has now turned out that the absconding jeweller was in Hong Kong for a mere 12 days. A government investigation has revealed that Nirav, after fleeing from Hong Kong in February, stayed in London for a month before finally travelling to New York. Google to launch new India focused mentorship program Google India will launch an India-focused mentorship and boot camp program for start-ups building both business-to-consumer (B2C) and business-to-business (B2B) tech products, the company said in a statement on Thursday. The mentorship initiative named 'Solve For India' was initially launched in pilot mode in India last year along with participation from Google Developers' Launchpad Accelerator team. The project will focus primarily on start-up products that demonstrate expertise in artificial intelligence (AI) and machine learning (ML).


BusinessToday.In
New Delhi, April 27, 2018
The CBI has also booked top officials of two public sector banks, a former CMD of IDBI Bank.


www.businesstoday.in
July 24, 2008
Chinnakannan Sivasankaran (or ‘Siva’ as he is better known) has one consistent thing going for him: he almost unfailingly makes a substantial killing when he exits the businesses that he acquires.


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