Bank fraud: ED registers money laundering case against ABG Shipyard

The Enforcement Directorate has registered a criminal case of money laundering against ABG Shipyard Ltd, its former promoters along with others for allegedly cheating a consortium of 28 banks of......

Navy cancels Reliance Naval's Rs 2,500-cr NOPV contract

The Indian Navy has cancelled Reliance Naval and Engineering Ltd's (RNEL) Rs 2,500-crore naval offshore patrol vessels (NPOVs) contract, owing to delay in delivery of the vessels, according to......

If India is to rule the waves, defence ministry must change its ways

Though the government says public and private shipyards compete on equal terms, public shipyards feast at the high table with the defence ministry, with only scraps being tossed to private......

Nirav Modi has been dethroned!

If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing......

Mehul Choksi's firm, others owe Rs 37,020 crore to PNB

All these companies were provided loans by PNB as part of consortium lending. Winsome Diamond & Jewellery, Gitanjali Gems and ABG Shipyard are among the big wilful defaulters who together owe more......

Govt clears FDI proposals worth Rs 4,340 cr

The government has cleared 19 foreign direct investment projects worth Rs 4,340 crore, including that of Tata Steel and Future Ventures.The Foreign Investment Promotion Board (FIPB) headed by......

M&A picks up, white knights are riding into India

In 2007, Israeli drugmaker Taro Pharmaceutical was in trouble. Inventories and debtors mounted, and it ran out of cash after a string of US acquisitions. When Dilip Shanghvi, chairman of Sun......