minimunch

Puri was a relationship manager at Citibank’s DLF Phase-II branch in Gurgaon, where he allegedly lured rich clients to invest in a fraudulent scheme that promised high returns. It is alleged that Sanjay Gupta and Gaurav Jain, employees of Hero Corporate, connived with Puri. Several Hero Group and Munjal family entities invested in the scheme.

Offices have changed timings to make sure the employees don’t miss tomorrow’s action and a number of theatres — starved of film releases since the world cup began — plan to screen the match. SRS in New Delhi has invited its employees and associates to come with family and friends to watch the match.

Swan Telecom and Loop Telecom were used as fronts by the ADA Group and Essar Telecom, respectively, to get 2G spectrum illegally during the tenure of former telecom minister A Raja, the Central Bureau of Investigation (CBI) has told the Supreme Court.

Silver climbed a new high by adding Rs 150 to Rs 50,700 per kg on the bullion market today on heavy speculative buying, amid firm global trends. However, gold slipped by Rs 110 to Rs 21,070 per 10 grams, due to sluggish demand at existing high levels.

Lifestyle International, part of Dubai-based Landmark Group, has set a target of doubling its turnover of Rs 2,000 crore in India in the next two years, a top company executive said.

With its 26th store in India launched here today, Lifestyle expects to exceed Rs 2,000 crore this financial year and more than double it in two years by adding another 14 stores, Kabir Lumba, Managing Director, Lifestyle International, told reporters here.

MakeMyTrip.com (MMT) has acquired a 79 per cent stake in Singapore-based travel agency Luxury Tours & Travels Pte Ltd (LTT) for $3 million.

MMT will invest another $0.75 mn in the company, in one or more tranches until June 2012, for the subscription of new equity shares to be issued by LTT.

Ratan Tata, Chairman of the Tata Group, was the centre of attraction on the second day of Aero India 2011 by flying in a fighter jet. The 74-year old veteran of the Indian corporate world surprised everybody by flying in a F/A-18 of Boeing, repeating a feat he’d demonstrated in 2007.

“It takes a lot more to fly the F-18 as compared to a Falcon,” said Tata after returning to the ground.

Rising inflationary pressures, especially high food prices, have become a major cause of concern for Indians, who are being forced to cut down discretionary spends, according to The Nielsen Global Consumer Confidence Index.

Despite being the most optimistic globally when it comes to their job and personal finance for the next 12 months, the survey said, in the next six months Indians will be most concerned about increasing food prices.

McDonald’s Corp plans to raise prices this year to help offset an expected rise in its grocery bill for the 10 commodities that account for around 75 per cent of its food preparation costs.Food prices are rising around the globe and the comments from the world’s biggest restaurant chain overshadowed weaker-than-expected December sales at established European and US restaurants, as poor weather hurt demand, and a reported fourth-quarter profit that was in line with expectations.

The CBI today carried out searches at the premises of corporate lobbyist Niira Radia and former TRAI chairman Pradeep Baijal in connection with the alleged Rs 22,000 crore 2G spectrum scam, a week after conducting raids at the residences of former Telecom Minister A Raja.