A group of 69 non-resident Indian investors have dragged ICICI Venture, India’s largest private equity firm, and ICICI Bank to the supreme court of Mauritius on charges that the fund they had invested in failed to deliver the returns outlined initially. The investors have also complained they have been misguided by the two entities, which did not disclose pertinent information about the fund’s performance and the risks associated with it, a charge dismissed by ICICI Venture as baseless and malicious.

The Supreme Court on Tuesday directed the government to hand over in a sealed cover on Wednesday the names of all those who had allegedly stashed unaccounted money abroad. This came a day after the National Democratic Alliance (NDA) government disclosed the names of seven persons and an entity in this regard.

The court slammed the government for its reluctance over the issue. Unless we monitor, nothing will happen, a bench headed by Chief Justice H L Dattu said. When Attorney General Mukul Rohtagi said a special investigation team (SIT) was probing the accounts, ahead of prosecution, the judges remarked: It will never happen in our lifetime.

Displaying Infosys's new-found confidence and aggression under a new management, Chief Operating Officer U B Pravin Rao on Tuesday said the company was ready to make large acquisitions, adding it was considering a few in strategic areas and regions.

Rao said Infosys was open to acquiring companies with annual revenue of $600-700 million and wasn't averse to bigger acquisitions. There is no constraint (on how much the company will pay for acquisitions). At the end of the day, if it is in line with our strategy, if we think it will add value to our strategy and give us time-to-market advantage, we are pretty confident we want to do it, he told Business Standard.

The government on Monday revealed the names of seven people, including a Dabur group promoter, Pradip Burman, and an entity, for allegedly stashing money in foreign banks.

Besides Burman, a former director of Dabur India, Rajkot-based bullion trader Pankaj Chimanlal Lodhiya, Goa-headquartered mining firm Timblo Pvt Ltd and five of Timblo's directors - Radha Timblo, Chetan Timblo, Rohan Timblo, Anna Timblo and Mallika Timblo - figure in the affidavit filed in the Supreme Court by the government. The affidavit will come up before a Bench headed by Chief Justice H L Dattu on Tuesday.

Fishermen in Amreli district here have been advised not to venture into sea as the Cyclone Nilofar is likely to make a landfall on Friday near Naliya in Kutch district of Gujarat.

Cyclone Nilofar was located 1,270 kilometres west-southwest of western Mumbai last night. It is expected to hit the land mass with a wind speed of 90-100 kilometres per hour.

Snapdeal on Tuesday said Japanese telecom giant Softbank will invest $ 627 million (about Rs 3,762 crore) in the company, becoming the largest shareholder in the online marketplace major.

This is the largest investment made by a single investor in an e-commerce company in India. Other existing investors have also participated in this round of investment but the company declined to disclose the amount.

Markets opened marginally higher on Tuesday with the benchmark Nifty reclaiming the 8,000 mark led by financials. However, traders are likely to remain cautious ahead of the two-day FOMC meet which begins today.

At 9:35AM, the 30-share Sensex was up 99 points at 26,852 and the 50-share Nifty was up 25 points at 8,017.

Shares of State Bank of India (SBI) and its all three listed associate banks - State Bank of Mysore, State Bank of Travancore and State Bank of Bikaner and Jaipur – have rallied on the bourses after State Bank of Mysore reported robust results for the second quarter ended September 2014.

State Bank of Mysore, the largest gainer among the pack, has rallied 19% to Rs 585 on BSE after reporting a more than three-fold jump in net profit at Rs 102 crore in the July-September quarter (Q2) on higher interest income, lower provisions and better recovery from written-off accounts. The state-owned bank had profit of Rs 30 crore in the corresponding year-ago quarter.

Superstar Shah Rukh Khan and Deepika Padukone starrer Happy New Year box office collections have crossed the coveted Rs 100 crore club mark within three just days, equalling Aamir Khan's Dhoom 3 record, but that is not where the story ends - there is more.

Happy New Year has gone one step ahead by garnering box office collections of Rs 108.86 crore in comparison to Aamir Khan's Dhoom 3 gross of Rs 107.61 crore.

The rupee depreciated by 6 paise to 61.36 against the dollar in early trade today at the Interbank Foreign Exchange market due to month-end demand for the US currency from importers.

Forex dealers attributed the rupee's fall to month-end demand for the US currency from importers but dollar's weakness against other units and a higher opening in the domestic equity market capped the fall.

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