The biggest stories of the day by Rakesh Sharma.
Rakesh Sharma
Is there light at the end of the runway for Jet? Reports indicate that Hinduja Group and Etihad have halted negotiation in light of two separate cases filed against Jet at the NCLT, Mumbai.
Indiabulls had a weird day today – allegations that the promoters have siphoned off more than 98,000 crore rupees of public money rattled the stock market today, with the Indiabulls scrip, at one point, tanking as much as 8.4%. Company officials have said this is an attempt to malign Indiabulls before its proposed takeover of Laxmi Vilas Bank.
Former CEA Arvind Subramanian has claimed in a new research paper that India’s growth story may well have been propped on wrong numbers. Did the country grow at an average of 7% GDP each year? Subramanian says, No.
One Indian youth has been awarded $5000 by the American company Facebook and inducted into the Hall of Fame for his identification of a bug in WhatsApp while another has been sentenced into the hall of infamy (ie, jail) for his involvement in defrauding tens of people of almost a million dollars.
These and other stories, as we recap everything from the ridiculous to the sublime, on stories of the day.
