- Tuesday, April 23, 2024
Once again, the UK Rich List has a distinctly Indian feel to it. The Sunday Times newspaper has published their list of the wealthiest people in the UK, with Gopi Hinduja coming out on top with a whopping £35 billion fortune. The 84-year-old oversees the Hinduja Group, an international conglomerate…
THE Hinduja Group has signed a Memorandum of Understanding (MoU) with the the Tamil Nadu government during the Tamil Nadu Global Investors Meet in Chennai. The conglomerate pledges to invest Rs 12 billion (over £100 million) over the next 3-5 years, demonstrating its dedication to fostering economic prosperity in the…
ASIAN entrepreneurs in the UK have increased their wealth by a staggering £6.8 billion in the past year, despite worldwide economic challenges, analysis by the Asian Rich List 2024 has found. Published by Eastern Eye, the list profiles the 101 richest Asian people in Britain. It was released on Wednesday…
THE Old War Office (OWO) of Britain's World War II era prime minister Winston Churchill is all set to open its doors to the public this month as a brand-new luxury hotel in the heart of London, after a multi-million-pound makeover in keeping with its historic setting by the Hinduja…
RELIANCE CAPTAIL’S lenders have overwhelmingly approved a proposal from Hinduja Group to acquire the bankrupt financial services company once led by Indian tycoon Anil Ambani.IndusInd International Holdings Ltd (IIHL), the investment arm of the London-based Hinduja family business empire, offered Rs 96.61 billion (£930 million) for Reliance Capital in the…
Reliance Capital’s lenders have decided to vote on a resolution plan submitted by a Hinduja Group company. Indusind International Holdings Ltd (IIHL) offered around Rs 100 billion (£960 million) to buy the company which went into administration in November 2021 after defaulting on a debt repayment of Rs 240 bn…
The daughters of S P Hinduja, Chairman of Hinduja Group, expressed their deep appreciation for their father's efforts in promoting Indian culture worldwide and his philanthropic endeavours. They paid tribute to him following his peaceful passing in London on Wednesday (17). Shanu and Vinoo Hinduja said their father was surrounded…
Srichand Parmanand Hinduja, the eldest of the four Hinduja brothers and chairman of Hinduja Group, died in London on Wednesday (17). He was unwell for some time. He was 87. "Gopichand, Prakash, Ashok and the whole Hinduja family with a heavy heart regret to announce the passing away of our…
Billionaire businessman Gopichand Hinduja last year said buyers from across the globe were evincing interest in the redeveloped Old War Office (OWO) in London. The Edwardian-era property, featured in Skyfall and other James Bond movies, appears to be living up to its billing now. Former New York mayor Michael Bloomberg,…
The Bhavan organised India’s Republic Day celebrations in London last week, a statement said. Indian high commissioner in UK Vikram Doraiswami was the chief guest of honour during the event held on last Thursday (9). "The Republic Day is significant because it is then that we gave ourselves the right…
Madhu Hinduja, the wife of Hinduja Group of companies chairman SP Hinduja, has died of old age. She was 82. In a joint condolence message, the Hinduja brothers — SP Hinduja, GP Hinduja, Prakash Hinduja, and Ashok Hinduja — said “the entire Hinduja family deeply mourns the death of Madhu…
Hinduja Group, promoter of IndusInd Bank, on Friday made an attempt to revise upward its bid for taking over debt-ridden Reliance Capital to £954 million with upfront cash outgo of £883 million, sources said. The group had made an offer of £815 million in the auction that was held on…
The Maharashtra government on Thursday (15) said the Hinduja group will be investing £3.5 billion in the state. The Chief Minister's Office tweeted that an MoU was signed between the state government and Hinduja group in the presence of Chief Minister Eknath Shinde. G P Hinduja and Ashok Hinduja of…
GOOGLE CEO Sunder Pichai has held discussions with the Indian envoy in the US, Taranjit Singh Sandhu, about the technology giant's activities in India, particularly its aggressive push towards digitisation, as he became the first top Indian-American tech business leader to visit the country's embassy here. Thank you Ambassador Sandhu…
Gopichand P Hinduja, co-chairman of the Hinduja Group and chairman of Hinduja Automotive Limited, UK, on Monday (19) paid a tribute to Queen Elizabeth II, the longest-serving British monarch who passed away on September 8. The late Queen's funeral, attended by several people and foreign dignitaries, took place on Monday.…
Two of India’s leading spiritual leaders held an event for devotees in the UK last weekend, where they discussed the “secrets of happiness”. His Holiness Pujya Swami Chidanand Saraswati, also known as Pujya Muniji, is the head of the Parmath Niketan in Rishikesh, north India; while Sadhvi Bhagawati Saraswati is…
The Hinduja Group is actively planning property development in India including residential and office spaces, its co-chairman Gopichand Hinduja said. Having a presence in places like Chennai, Mumbai and Hyderabad, the group has a huge land bank in India, he said adding that planning is on either for creating a…
Having demonstrated its expertise after redeveloping the iconic Old War Office (OWO) in London, the Hinduja Group has similar projects in the pipeline across the world including India, according to its co-chairman Gopichand Hinduja.He said announcements on redeveloping another heritage structure in the British capital and a similar one in…
WOMEN are very much on the move – rising to roles not previously seen before and smashing glass ceilings in the process. The GG2 Power List was unveiled on Tuesday (8) evening at Eastern Eye publisher AMG’s high-profile and glittering GG2 Leadership & Diversity Awards, where the role of highflying women…
HINDUJA GLOBAL SOLUTIONS (HGS) said its UK arm has bagged a contract worth Rs 21 billion (£210 million) to provide critical customer support to British citizens for two years.HGS UK Ltd bagged the contract from UK Health Security Agency (UKHSA), which is responsible for NHS Test and Trace.The contract will…
COMMERCIAL vehicle maker Ashok Leyland said it will supply 200 trucks to Bangladesh as part of a $2-billion (£1.48 bn) line of credit announced by Indian prime minister Narendra Modi.As part of the order, 135 trucks have already been delivered to Bangladesh, the Hinduja Group-owned company said in a statement…
SWITCH MOBILITY, the electric vehicle company of the Hinduja Group, is likely to raise $200 million (£148.46m) in the next three months to meet its capital expenditure requirements, media reports said.It approached Blackrock, Macquarie, Oman Investment Fund, Canadian Pension Fund and several other institutional investors for funds, according to an…
HINDUJA Group is believed to have partnered with the Abu Dhabi Investment Authority (ADIA) to buy Axa’s stake in Bharti-Axa Life Insurance. Investment bank Jefferies has been hired to advise on the potential transaction and the due diligence process is expected to be completed early next year, Moneycontrol reported. The…
What the success stories of Asian Business Awards winners have in common Business of the Year Award: Bestway Group One of Britain’s most successful companies, Bestway was founded by Sir Anwar Pervez and his school friends. The group today operates the UK’s second largest wholesale chain and the Well Pharmacy…
ONE OF BRITAIN’S leading wholesale companies won the coveted top award at the Asian Business Awards, hosted by Eastern Eye, on Friday (19). Bestway Group was named Asian Business of the Year at a gala event held at the newly opened Londoner in Leicester Square. Founded by Sir Anwar Pervez…
HINDUJA Global Solutions (HGS), the BPO arm of the diversified Hinduja Group has reported about 68 per cent jump in consolidated net profit at Rs 1.36 billion (£14 million) for the September 2021 quarter. Its growth was partly driven by its UK business. The company had posted a net profit…
HINDUJA Global Solutions (HGS) has won a contract from the UK government to provide hotline services to British businesses in international trade as new rules of Brexit will kick in, a media report said. It will help companies negotiate a range of new rules, including documentation and physical checks on…
HINDUJA Global Solutions (HGS) has announced the sale of its healthcare services business to Baring Private Equity Asia for an enterprise value of $1.2 billion (£867.3 million). The transaction subject to closing adjustments is likely to complete within 90 days, subject to approvals – shareholder and other regulatory ones. “Our…
LUXURY flats in the refurbished Old War Office (OWO) in the heart of London went on sale on Tuesday (15). Owned by the Indian conglomerate, the Hinduja Group, the 85 apartments retain many of the building’s original features and adjoin Raffles London, the British debut of the Singapore-based hotel group…
LONDON’S most luxurious apartments in the Old War Office, Whitehall are set to go on sale this week, a report said. Owned by the Hinduja Group, the 85 lavish apartments retain many of the building’s original features and adjoin Raffles London, the British debut of the Singapore-based hotel group that…
THE Hinduja Foundation, philanthropic arm of Hinduja Group, is organising a virtual global summit on May 21 to promote the importance of mental health during the Covid-19 pandemic. The #NeverAloneSummit will be held in association with the Chopra Foundation, the John W Brick Mental Health Foundation, and CG Creatives. It…
THE UK-based Hinduja Group has launched Berryllus Capital, a global wealth advisory firm, by partnering with US-headquartered Focus Financial Partners. The new joint venture will focus on investment management, investment banking and real estate advisory for ultra-high net worth families around the world. Focus Financial Partners has offices in London,…
HINDUJA GROUP firm Ashok Leyland is working with bankers on a potential merger of its electric bus company, Switch Mobility, with a special purpose acquisition company (SPAC) in the US, reports said. The plans could see Switch Mobility valued upto $2 billion (£1.4bn), reported Sky News. Chaired by former Aston…
THE BPO arm of Hinduja Group, Hinduja Global Solutions(HGS) has reported a 5.6 per cent increase in consolidated net profit at Rs 75.1 crore ( £7.45million) in the third quarter of 2020-21 financial year. The company reported a net profit of Rs 71.1 crore(£7m) in the same period a year ago,…
AROUND 500 workers at the Optare bus manufacturing plant in Sherburn-in-Elmet, North Yorkshire, are striking for pay increase. Optare is a subsidiary of the Indian vehicle manufacturer Ashok Leyland, run by the Hinduja group. The workers said that there was no pay hike at the plant for the last two years.…
HINDUJA GROUP firm Ashok Leyland has renamed its UK subsidiary Optare as Switch Mobility as part of the plans to bring the entire electric vehicles (EV) initiatives under one entity. The company plans to tap the growth opportunities in the global LCV and bus EV market, which will be worth…
HINDUJA GROUP firm Ashok Leyland has launched BS-VI compliant Boss LE and LX trucks eyeing the 11.1 tonne to 14.05-tonne gross vehicle weight (GVW) market with price starting around £18,718 (ex-showroom Delhi). Customers can choose from multiple combinations – loading span from 14 feet to 24 feet and body type…
Ashok Leyland chairman Dheeraj G Hinduja has said that the company is re-examining the business and operating models in the wake of the Covid-19 pandemic and is looking to 'reconfigure' the Hinduja group firm for sustainable growth. Addressing the shareholders, Hinduja added that the long-term outlook for the commercial vehicle…
UK-based advanced cyber security provider and Hinduja Group firm CyQureX-UK and Tech Mahindra have entered into a global strategic partnership to offer cyber security solutions through 'digital transformation'. With this, both firms aim to become leaders in the emerging ‘Zero Trust’ environment, leveraging CyQureX’s core Software Defined Perimeter technology and…
THE Hinduja brothers are locked in a legal dispute over their multi-billion family assets, it has emerged during a court ruling in London. The high court case -- regarding the "validity and effect" of a letter dated July 2, 2014 -- was filed on behalf of "patriarch" Srichand Parmanand Hinduja,…
THE Hinduja Group expects oil prices to bounce back to around $40-$50 a barrel once the COVID-19 crisis is over, though the prices will not pick up in the near term. Gopichand Hinduja, co-chairman of Hinduja Group and one of the richest businessmen in the UK, said that oil prices…
The Hinduja Group has announced an extension of its tie-up with Raffles Hotels & Resorts, involved in the transformation of former British prime minister Winston Churchill''s Old War Office (OWO) building, in the heart of London into a luxury hotel. An agreement signed by the London-headquartered conglomerate in June 2017…
THE Hinduja group’s flagship firm Ashok Leyland said on Monday (10) that its British subsidiary Optare has bagged orders for 37 electric double-decker buses in London. Optare PLC has entered a partnership with the Tower Transit Group to launch two new electric routes in London. The 37 zero-emission Metrodecker buses…
THE UK has officially become a nonmember of the European Union (EU) from last Friday (31) night, a move welcomed by Indian businesses operating in the UK as well as British businesses keen to expand into the Indian market. The official transition period from last Saturday (1) until the end…
The UK will officially become a non-member of the European Union (EU) from Friday (31) night, a certainty welcomed by Indian businesses operating in the UK as well as British businesses keen to expand into the Indian market. The official transition period from Saturday until the end of December means…
INDIAN business tycoon Anil Agarwal has submitted an expression of interest (EoI) to revive grounded Jet Airways on Saturday (10). Volcan Investments, Agarwal’s family trust, submitted EoI before the closure of the bid process last week. The family trust said its interest in Jet Airways was exploratory in nature. Panama-based…
INDIA and China can become the strongest partners in the world and the leaders of the two countries can together face US president Donald Trump against his "protectionism", leading British-Indian industrialist G P Hinduja has said. The Hinduja Group Co-Chair said the UK-headquartered Indian conglomerate wanted to invest more in…
SHARES of India’s grounded airline, Jet Airways recorded a steep fall today (11) after a report that Hinduja Group and Etihad Airways may not invest in the troubled airline. Family business, Hinduja Group earlier said that it was considering a bid for Naresh Goyal founded airline. Etihad, a minority stakeholder…
A BRITISH start-up has raised an undisclosed sum from Indian conglomerate the Hinduja Group. The company said that the Hinduja Group was its first institutional investor. The UK firm- Pavegen, is developing floor tiles which can produce electricity from the pressure of human footsteps. The British company aims to raise…
Britain's frontrunner in the prime ministerial race, Boris Johnson, wants an "even closer" partnership between India and the UK after prime minister Narendra Modi's "emphatic" victory. Johnson is the former foreign secretary in the Cabinet led by Theresa May, who is set to formally resign on June 7 triggering a…
THE Hinduja Group on Friday (24) confirmed its interest in India’s grounded airline, Jet Airways. The Indian conglomerate is evaluating options to select a stake in the debt-ridden airline, said Dheeraj G Hinduja. Hinduja is the chairman of India’s commercial vehicle manufacturer, Ashok Leyland, an arm of the Hinduja Group.…
HINDUJA Group said it was considering a bid for India’s grounded airline, Jet Airways Ltd. The family-run business is in discussions with Jet Airways founder Naresh Goyal and investor Etihad which holds a minority stake in the airline. Middle Eastern airline, Etihad has expressed its interest in re-investing in the…
THE Hinduja Group has begun showing interest in investing in India’s grounded airline, Jet Airways after lenders to the company and its second major shareholder, Etihad Airways approached the group. However, the group has so far not given a clear commitment about investing in the Naresh Goyal founded airline, ‘The…
by SAILESH RAM ASIAN business is very much on the rise and smashing through barriers, as the latest generation of entrepreneurs make their mark on the British economy. The most comprehensive annual survey of Asian wealth in Britain – the Asian Rich List – found the community’s richest business owners…
Steel tycoon Sanjeev Gupta has been awarded the title of '21st Century Icon' at an awards ceremony in London in recognition of his success in building a flagship UK-based international metals, industrials, energy and financial services group. Gupta, executive chairman of GFG Alliance, was named an "Icon" in the "Astute…
Coinciding with Mahatma Gandhi’s 70th death anniversary in January 2018, having completed over 1,001 shows across 300 cities worldwide in just one year, the award-winning play ‘Yugpurush – Mahatma’s Mahatma’ in English premiered in London’s Mermaid Theatre on Friday 19th January, attracting an impressive galaxy of distinguished guests. The High Commissioner of…
Hinduja Group flagship Ashok Leyland is looking at expansion of its commercial vehicle business with plans to introduce a slew of products. The company, however, said that commercial vehicle makers are under profitability pressure due to increasing competition and cost of meeting stronger emission standards. In an address to its…
The Hinduja group has signed a deal with Europe's largest hotel chain to transform the UK's iconic Old War Office building, once occupied by Britain's war-time prime minister Winston Churchill, into a luxury hotel. Raffles Hotels and Resorts, the luxury brand that is part of France's Accor Hotels Group, today…
THE Hinduja brothers have emerged as the richest Asian-origin entrepreneurs in Britain for the fourth consecutive year with an estimated personal fortune of £16.5bn. The India-born brothers G P Hinduja and S P Hinduja topped the ‘Asian Rich List 2016’ released in London on Friday (March 18) night and the…
ENTREPRENUERS of Asian origin continue to light up an iridescent path when it comes to wealth creation, not just for themselves but for the country at large– creating billions at home and abroad. If anyone needed a post-Brexit strategy boosting the nation’s economic profile, they would do well to turn…
LEADING British Indian industrialist GP Hinduja last Friday (24) described the result in favour of Britain’s exit from the European Union (EU) as “positive” for IndoUK ties, saying bilateral trade and investment will grow. The London-based co- chairman of the Hinduja Group described the referendum as an “essential democratic process”,…
To facilitate exchange of students between the UK and India, a management institute from Mumbai has signed a Memorandum of Understanding (MOU) with the prestigious King’s College London. The MOU was signed last week by Dr Indu Shahani, former sherriff of Mumbai and dean of the Indian School of Management…