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The Godrej reorganization is marked by elegance and could serve as a model for others. Indian business groups should also examine models used in the West and East for ways to ensure that ambitions of gaining size and going global are not compromised in the process.
Prime Minister Narendra Modi will inaugurate the ‘Uttarakhand Global Investors Summit 2023’ being held at Forest Research Institute, Dehradun, on December 8 and 9. Over 8,000 delegates, including 15 ambassadors and heads of missions from Spain, Slovenia, Nepal, Cuba, Greece, Austria, Japan, Saudi Arabia and other countries, will participate in the two-day event. Prominent industrialists including Mukesh Ambani and Gautam Adani are also expected to be present.
While Ayesha Thapar is the scion of leading business conglomerate Thapar Group, her husband Nikesh Arora is among the richest Indian CEOs in the world with a net worth of Rs 8,500 crore.
✖ Synopsis Funds were diverted from a term loan granted to Oyster Buildwell, an Avantha Group company with no real business or assets. Both Edelweiss and Aditya Birla Finance, which received INR285 crore and INR190 crore, respectively, deny any knowledge of source of funds utilised to repay their dues, which occurred in normal course. Investigators have traced proceeds of an INR500 crore loan granted by Yes Bank to a little-known company in the Thapar Group that was utilised to repay loans and dues of other stressed group companies. Oyster Buildwell, a subsidiary of Avantha Realty, had rout...