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US bankruptcy court to probe Nirav Modi’s firm Firestar

DNMUM412214 | 4/16/2018 | Author : Kumar Shankar Roy | WC :660

Mumbai: A US bankruptcy court is the latest addition to the list of entities that have launched an investigation into the over $2-billion fraud involving now fugitive Nirav Modi and some employees of Punjab National Bank (PNB).
United States Bankruptcy Court for the Southern District of New York has okayed a special probe of the circumstances surrounding the case and has directed the United States Trustee to appoint an examiner.
The examiner will have to determine to what extent the Modi entities have the ability to influence the actions taken by diamantaire’s US jewellery business Firestar Diamond Inc, which had filed for bankruptcy protection in America soon after the banking fraud came to light.
The examiner will al
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‘Bajaj Electricals will have to increase prices’
DNMUM424422 | 10/19/2018 12:00:00 AM | Author : Swati Khandelwal | WC :532

Shekhar Bajaj, CMD of Bajaj Electricals, in an interview with Swati Khandelwal of Zee Business, talks about the growth in consumer durables business, the impact of rising commodity prices and strategy for digital sales.Do you think the growth
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Cochin Shipyard to lease Mumbai Port’s dry dock
DNMUM424423 | 10/19/2018 12:00:00 AM | Author : Ateeq Shaikh | WC :435

Mumbai: Cochin Shipyard Ltd (CSL) is set to get the lease for Mumbai Port Trust’s (MbPT) Hughes Dry Dock facility as well as four berths at the Indira Dock on Saturday. This will help the Kerala-based shipbuilder to service around 100 more ships ever
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RBI may opt for an early rate hike
DNMUM424424 | 10/19/2018 12:00:00 AM | Author : K R Sudhaman | WC :730

New Delhi: Low CPI inflation at 3.8% in September may be welcome but this does not mean all is well on the price front as wholesale inflation increased to 5.13% in the same month, indicating the Reserve Bank of India might have to resort to a rate h
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Broadband set for disruption
DNMUM424425 | 10/19/2018 12:00:00 AM | Author : Mansi Taneja | WC :367

New Delhi: The wired broadband market is not far away from the disruption expected to be created by Reliance Industries which earlier shook the telecom market since its entry in late 2016. On Wednesday, the company announced an investment of ab
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