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Industrialist Prakash Hinduja fined 157 million francs (Rs 1270 crore) for tax violations by Geneva Court

Family disputes galore in Hinduja Group Mauritius and Geneva authorities initiate action against Ashok and Ajay Hinduja

Family disputes galore in Hinduja Group Mauritius and Geneva authorities initiate action against Ashok and Ajay Hinduja
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IndusInd Bank Ltd : IndusInd promoters convert warrants, invest over Rs 2000 cr

Explore Now Mumbai: lnduslnd Bank promoters IndusInd International Holdings Ltd (IIHL) have converted warrants in the bank at a 60 percent premium to Tuesday s closing price investing Rs 2,021 crores, putting to rest doubts on whether the Hinduja- backed company had the financial muscle to keep capitalising its crown jewel. The investment was done by raising funds through a rights share sale to the holders of IIHL and from sale of some assets that the company held. Furthermore, pledging a portion of the bank s shares with banks which made investors wary was to create a war chest for IIHL that is preparing to list itself. Hindujas said the pledge doesn’t reflect the financial strength of the business family.

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