A Special Court on Thursday morning ruled that the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED) had failed to prove charges of corruption, abuse of position, conspiracy, and money laundering against former telecom minister Andimuthu Raja, industry captains, including Essar promoters Ravi Kant Ruia and Anshuman Ruia, and former bureaucrats in the so-called second generation or 2G spectrum allocation scam. Read more
2G verdict: Telcos, investors may move arbitration courts to seek damages
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SGX move could trigger diplomatic row between India, Singapore
Diplomatic tensions between India and Singapore could flare up over Singapore Exchange’s (SGX’s) proposal to soon launch futures trading in Indian stocks. SGX would soon go live with the launch of single-stock futures on top 50 domestic companies and would expand the universe to top 100 eventually. Read more
RInfra to sell Mumbai power business to Adani Transmission for Rs 13,251 cr
The Anil Ambani-controlled Reliance Infrastructure (RInfra) on Thursday announced the sale of its Mumbai power business to Adani Transmission. The deal, valued at Rs 13,251 crore, is one of the biggest asset monetisation moves the Reliance ADA group has undertaken so far. Read more
RBI report blames banks for bad debt mess
The December edition of the Financial Stability Report (FSR) blamed banks and their lack of expertise in project finance for the current bad debt mess in the economy. Read more
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