After pumping billions of dollars into Indian Internet start-ups in the last 24 months, global investors are cutting that flood back to a trickle as dreams of huge online sales are clouded by soaring valuations and still-distant profits.
Reliance Industries (RIL), which Tuesday reported its best-ever quarterly net income at Rs 7,290 crore on better refining margins, said it will continue to scale down capital expenditure (capex) for its struggling shale gas business in the US.
Cairn India Tuesday told Delhi High Court that a loss of Rs 1400 crore has been caused to the government as the company was forced to sell its share of crude from its Rajasthan oil field to private players at prices 20 percent less than the global rates.
The Enforcement Directorate (ED), which has chargesheeted former telecom minister Dayanidhi Maran in the Aircel-Maxis deal, today told a special court that it was probing a complex money trail involving a Mauritius-based firm and two private firms.
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