Last month, Adani Enterprises had filed a plea in the Bombay High Court seeking quashing of all LRs against its firms that are under probe for alleged over-invoicing of Indonesian coal imports.

In FY 2012, the bank had, by allegedly flouting its own lending norms, extended a Rs 3,250 crore loan to the Videocon group, which has since turned dud for the bank.

Over the next few years, a number of entrepreneurs, who had shot to prominence over the past decade and a half, will either have lost their entire businesses or will see their empires shrink dramatically in size, after losing many of their companies.

Lessons from the failure of some of India's biggest business names.

The Mittal-owned company told the SC it would lift the escrow on Rs 7,000 crore and pay the money owed by Uttam Galva and KSS Petron -- the defaulting companies in which the steel tycoon is classified as promoter -- if it gets to bid successfully for Essar Steel.

Russia, India's largest investment destination in the oil and gas sector, already has $15 billion invested by Indian PSUs.

Kochhar, who has been away from office following an enquiry initiated under the retired Supreme Court judge BN Srikrishna late May but continues to hold onto her position as the managing director & chief executive, was absent from the AGM.

The SC order will also buy the stressed shipping and sugar companies, which had approached the top court against the order, some more time.

Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party. JSW Steel bought out this contentious stake ahead of the second bidding round

World's largest steel producer ArcelorMittal on Monday offered Rs 42,000 crore to acquire Essar Steel Ltd, upstaging a Rs 37,000 crore bid by Russia's VTB Group-backed Numetal.

Numetal's first bid was rejected due to the 25% share owned by Rewant Ruia, the son of Essar Steel founder Ravi Ruia, since he was deemed a related party.

Failing to find resolutions for stressed power sector companies, lenders have decided to refer 11 companies, including Prayagraj Power Generation, GMR Chhattisgarh Energy and Jaiprakash Power Venture, to the National Company Law Tribunal.

The buzz is that the Income Tax department stands to make a whopping $2 billion from the $16 billion Walmart-Flipkart deal.

Reports say that both JSW and Tata look to submit bids for Usha Martin's 1 MT steel unit.

The Walmart-Flipkart deal is expected to help the government rake in up to Rs 13,700 crore.

It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.

Confirming that these minority shareholders have rejected Bharti Group's discriminatory resolution plan, Arvind Gupta says they consider their shares in BTL as a \"crown jewel\" and are not willing to divest them at \"oppressive consideration\" price of Rs 163.25.

The whistleblower, reportedly an anonymous ICICI Bank employee, had written to the bank and the RBI in March alleging irregularities in the conduct of 31 borrower accounts, resulting in incorrect asset classification.

Last financial year, PNB made recovery of about Rs 5,400 crore. However, in the first quarter of current fiscal, the bank has done recovery of over Rs 7,700 crore.

Walmart has said that it will fulfil whatever is the regulatory requirement, according to an official aware of the development. The US retail behemoth reportedly added that it will get the tax implication of the deal examined.