Category Archives: Business

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India Inc’s Recent Scams Turn In-Laws into Outlaws

India Inc’s Recent Scams Turn In-Laws into Outlaws‘Marriage arrangements help ensure that control over capital doesn’t go out of the community.’ The ties that bind. New Delhi: A recent spate of loan defaults – most of which curiously centre around trade finance and buyer’s credit – has shined a spotlight on the close and influential… Read More »

Government Opens Commercial Coal Mining to Private Companies, Coal India Monopoly to End

Government Opens Commercial Coal Mining to Private Companies, Coal India Monopoly to End Following nationalisation by late Indira Gandhi in 1973, only state-owned CIL was allowed to sell coal. The state-owned entity currently accounts for over 80% of domestic coal output.   West Bengal, Odisha, Jharkhand, Chhattisgarh, and Madhya Pradesh are the major coal-bearing states.… Read More »

Rotomac Bank Fraud Bloats to Rs 3,695 Crore From Earlier Estimate of Rs 800 Crore

Rotomac Bank Fraud Bloats to Rs 3,695 Crore From Earlier Estimate of Rs 800 CroreThe CBI has registered a case against Rotomac Pens promoter Vikram Kothari and his family in connection with a case relating to the alleged swindling of Rs 3,695 crore of bank loan funds. Credit: Twitter New Delhi: The Central Bureau of Investigation… Read More »

After Nirav Modi, a Look-Back at High-Profile Indian Businessmen Who Have Skipped Town

After Nirav Modi, a Look-Back at High-Profile Indian Businessmen Who Have Skipped TownTime and time again, the CBI and ED have acted a little too late and have been frustrated by various procedural issues that get in the way of extraditing the accused back to India.  From left to right: Jatin Mehta, Sanjay Bhandari, Lalit… Read More »

How Many Billionaires Will Get Away While India’s ‘Chowkidar’ Looks On?

How Many Billionaires Will Get Away While India’s ‘Chowkidar’ Looks On?Under Narendra Modi’s rule, a string of well-connected businessmen have been able to escape legal consequences. Nirav Modi at Davos. Credit: PIB Has the Narendra Modi bubble burst? Was the spectacular Ponzi scheme run by Nirav Modi – in which an estimated fraud of Rs… Read More »

Lessons from Ranbaxy: Suffocating Silence Prevented Us From Questioning the Rot in the System

Lessons from Ranbaxy: Suffocating Silence Prevented Us From Questioning the Rot in the SystemThe Delhi high court’s recent decision tells us that the righteous attempts at defending the drugmaker in 2013 were aimed at whitewashing the whole sordid affair. A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013.… Read More »

Inside Nirav Modi’s Potemkin World

Inside Nirav Modi’s Potemkin WorldThe billionaire jeweller to the world’s rich and famous has done well for himself. His troubles, however, g along with his blinding success, his troubles grew side by side. Nirav Modi. Credit: Nirav Modi Jewels/Facebook New Delhi: Businessmen in India’s multi-billion dollar diamond industry – it exports cut and polished diamonds… Read More »

‘Independent’ Seven Million Jobs Study Was Carried out With Government Help

‘Independent’ Seven Million Jobs Study Was Carried out With Government HelpThe EPFO data for the Ghosh and Ghosh study was given by the Niti Aayog, which in turn was tasked by the Prime Minister’s Office to give quick indicators for direct reflections on employment data. The two economists worked out of the Niti Aayog office… Read More »

‘Jan Gan Man Ki Baat’ Episode 196: Punjab National Bank Scam

‘Jan Gan Man Ki Baat’ Episode 196: Punjab National Bank ScamVinod Dua discusses the recent Punjab National Bank Scam and how two of the bank’s employees pulled off one of India’s biggest banking con jobs. Also read: Explained: Punjab National Bank’s $1.8 Billion Fraud The post ‘Jan Gan Man Ki Baat’ Episode 196: Punjab National… Read More »

Israeli Police Name Ratan Tata in Case Against Benjamin Netanyahu

Israeli Police Name Ratan Tata in Case Against Benjamin NetanyahuTata’s office has dismissed the Israeli media report, that says his name figures, as “grossly incorrect” in its references to him. Israel Prime Minister Benjamin Netanyahu (left), industrialist Rata Tata. Credit: Reuters Jerusalem: The name of Ratan Tata figures in the Israeli police recommendations seeking to indict… Read More »