The Indian oil refiners buy Iranian crude at $3-5 a barrel discount to the other crude grades in the Middle East. The benefits include the $2-4 discount for a barrel of crude; $1 a barrel freight subsidies; and the extended payment facilities.

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

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.

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.

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.

A special court today ordered framing of an additional charge of abetment of bribery against Congress leader and industrialist Naveen Jindal in a case pertaining to irregularities in the allocation of a Jharkhand coal block.

The state government hopes that various stakeholders, including banks, project developers and procurers will compromise on their part to revive these plants, which ran into losses.

ICICI Bank recently roped in former Supreme Court Judge B N Srikrishna to probe the allegations of quid pro quo and conflict of interest levelled against Chanda Kochhar by whistleblower Arvind Gupta.

The market regulator last month sent a notice to the ICICI Bank and its CEO Chanda Kochhar, seeking their response on matters relating to alleged non-compliance with certain provisions of the erstwhile Listing Agreement and the Securities and Exchange Board of India.

The bankruptcy proceedings would force Indian banks to book heavy losses. They are now focussed on mini- mising the damage

The bank said an \"appropriate response\" would be submitted to Sebi. The country's second-largest private lender has been embroiled in controversies ever since investor and whistleblower Arvind Gupta alleged a 'quid pro quo' in ICICI Bank's Rs 3,250 crore plus Rs 660 crore loans to Venugopal Dhoot-owned Videocon Industries.

NuPower Renewables CEO and Co-founder Deepak Kochhar - who's also the husband of ICICI Managing Director Chanda Kochhar - has also been questioned three times by the IT Department in last 10 days.