Saturday, September 26
The Supreme Court on Friday declined to entertain a plea filed by HDFC Bank Managing Director and CEO Sashidhar Jagdishan seeking to quash an FIR registered against him. The court observed that the matter is already scheduled to be heard by the Bombay High Court on July 14.A bench headed by Justice PS Narsimha refused to stay the proceedings initiated in connection with allegations of financial irregularities involving the Lilavati Kirtilal Mehta Medical Trust, which manages Lilavati Hospital in Mumbai.Senior advocate Mukul Rohatgi, appearing for Jagdishan, submitted that “the bank has been roped in a private dispute. The idea is to summon him to the police station. It will create havoc for the bank. It is affecting my personal reputation.”Responding to the submission, the bench said,
Saudi oil giant Aramco is looking to sell up to five gas-fired power plants, three sources with knowledge of the matter told Reuters, part of a broader effort to free up funds that could generate tens of billions of dollars. The potential sale of four or five gas-fired plants that power refineries could alone raise around $4 billion as the Saudi government pushes Aramco to increase profits and payouts to the state, two of the sources said. Aramco, the world's most profitable company and the main source of Saudi state income, has been looking to sell some assets, improve efficiency and cut costs, Reuters has reported. The company will also slash dividend payouts by nearly a third this year as lower oil prices hit its income. The state, which directly owns 81.5% of Aramco, is heavily reliant
Air India on Friday refuted allegations that it coerced families of victims from the AI 171 crash into signing documents disclosing their financial dependency on the deceased to reduce compensation payouts.In a statement, the airline described the claims as "unsubstantiated and inaccurate," and clarified that such disclosures are part of a standard process aimed at ensuring rightful recipients receive interim compensation promptly.The controversy arose after reports suggested that some bereaved families were being pressured to reveal their financial ties to deceased loved ones, allegedly as a prerequisite to receive financial support. Air India, however, rejected this portrayal, stating that the request for information was intended to avoid delays in payments and to ensure fairness in iden
