Business Events Which Made Headlines In 2012

18. Supreme Court Orders Sahara to Refund 24,000 Crore to Investors on August 31

The Indian conglomerate Sahara India Pariwar was ordered by Supreme Court to payback 24, 000 crore that the company raised from the market after Securities and Exchange Board of India, SEBI said it had violated rules and regulations. The Supreme Court ordered to make an immediate payment of 5, 120 Cr and pay the rest of the amount in two installments of by February 2013.

19. Kaushik Basu Takes Over As Chief Economist at World Bank on September 5

One more Indian name joined the list of world glory when Kaushik Basu, Cornell University professor was selected as the chief economist and new vice president of World Bank. While on leave from the Cornwell Basu was the chief economic advisor of the Finance Ministry.

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20. Air India gets its first Dreamliner on September 8

Air India passengers will have nice dreams when they sleep on Air India flights from now onwards as Air India's first Boeing 787 Dreamliner reached the Delhi’s Indira Gandhi International Airport. Air India has been waiting long to add this next generation air plain to their list. The Dreamliner started from the Charleston factory in South Carolina in the U.S. and it took 15 hours to reach Delhi.

21. Government On A Reform Roll on September 15

To prove that it is shedding off its old policies, the government allowed 51 percent FDI, i.e, Foreign Direct Investment in multi-brand retail this year. This means that deep discount stores will be available in India set up by the foreign super market.

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