"Apart from being downright untruthful, what is even more anguishing is the agenda with which these reports have been encouraged and planted while the matter is sub judice,” said a statement put on BSE by Max quoting Analjit Singh.
The 36-year-old has led a turnaround in Max Ventures, and has just opened the Group's first real estate property
Shares of Max Ventures & Industries surged 18 percent in early trade Tuesday after the board approval for stake sale to a subsidiary of New York Life Insurance Company.
Max Ventures and Industries (MaxVIL) part of Analjit Singh-led Max Group today announced a Rs 147.9 crore fund raising plan, which includes sale of 22.51 percent stake to a subsidiary of New York Life Insurance Company for Rs 121 crore.
Sources tell CNBC-TV18 that Nusli Wadia has written to Tata Chemical shareholders urging them to vote with their conscience at today's EGM.
A day after Cyrus Mistry quit from six Tata group firms, Independent Director Analjit Singh, who was supporting the ousted Chairman, resigned from the board of Tata Global Beverages Ltd.
"Max I Ltd (a wholly-owned subsidiary of Max Ventures and Industries Ltd) has acquired 2,69,955 shares of Rs 10 each of FSN E-Commerce Ventures Private on December 8, 2016, which represents its 1.99 percent equity capital," Max Ventures and Industries Ltd said in a BSE filing.
The promoters, led by Singh acquired an additional 3.33 per cent stake in MaxVIL from Goldman Sach on November 29 at Rs 50.5 per share, a statement said.
Sebi today exempted Neeman Family Foundation, a trust set up for Analjit Singh and his family members, from making an open offer for the public shareholders of Max Financial Services.
The minority shareholders including KKR, Goldman Sach and Kotak, which has over 25 percent stake in the company, has given a green signal to pay the non-compete fee.
Max Financial Services shares declined over 3 percent intraday Monday after a media report indicated that Goldman Sachs is looking to sell its stake in the company.
Immediately the stock rebounded 5 percent to Rs 47.25 on the National Stock Exchange. More than 24 lakh shares already traded on the exchange.
Max Financial Services shares rallied nearly 20 percent and HDFC gained 2 percent intraday Friday after a media report indicated there are merger talks between companies for their life insurance business.
Rahul Yadav's much anticipated second coming seems to have gone off track as the former Housing.com CEO's e-governance startup Intelligent Interfaces has been unable to find any takers and even as Yadav explores the option of coming back to the online real estate space, he is not fighting shy of leveling the blame elsewhere.
On February 18, 2016 Moneyline Portfolio Investments Limited bought 2,65,70,048 shares of Max India at Rs 358.
Explaining the rationale behind the split, Analjit Singh said at a press conference: "Over the years, we have been told that a lot of investors are interested in parts of what we do, but not necessarily the entire piece."
India Inc stalwarts believe there is a lot for both the countries to be gained from each other.
Max India founder & chairman Analjit Singh said paperwork is in process and Bupa will be stepping up in Max Bupa from 26 to 49 percent.
Analjit Singh, Chairman, Max Healthcare Chairman, Max Bupa Health Insurance Co while congratulating the government for passage of the Insurance (Amendment) Bill in Rajya Sabha said the company is now in a sweet spot.
For the first time, a question on the transfer of derivatives, being transfer of call options where the underlying represents shares in an Indian company, came up for adjudication in the recent decision of the Mumbai Tribunal in the case of Vodafone India.
After this, Vodafone India will be the first telecom operator in the country to be fully owned by a foreign company.
The Vodafone Group‘s service revenues fell 4.8 percent year-on-year to 9.85 billion euros, thanks to revenue de-growth of 9.6 percent in its European market even as its growth in its Africa, Middle-East and Asia Pacific (AMAP) region, of which India is a part, grew 5.5 percent.
But raises the red flag on valuations being offered to buy out existing investors, the Piramals and Analjit Singh. While Ajay Piramal's 10.97 percent stake will be fetching him Rs 8,900 crore, Analjit Singh's indirect 24.65 percent will get him only Rs 1,241 crore.
CGP India Investments Ltd, an indirect Mauritian unit of Vodafone International Holdings BV, has sought approval from the FIPB, headed by Economic Affairs Secretary Arvind Mayaram, to buy the stake held by minority shareholders in Vodafone India Ltd.
According to Analjit Singh, the application for FDI proposal was made just 18 days ago and the FIPB could not get enough time to think about the proposal.