MUMBAI/BANGALORE (Reuters) – IT outsourcing company iGate Corp(IGTE.O: Quote, Profile, Research) said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry’s best-known executives for sexual harassment.

Murthy had led several initiatives to improve the performance of the Fremont, California-based company, including charging clients for business results instead of man hours, the billing method more commonly used by IT outsourcing firms.

MUMBAI/BANGALORE (Reuters) – IT outsourcing company iGate Corp said it had sacked its chief executive, Phaneesh Murthy, for not disclosing a relationship with a subordinate after investigating one of the industry’s best-known executives for sexual harassment.

Murthy had led several initiatives to improve the performance of the Fremont, California-based company, including charging clients for business results instead of man hours, the billing method more commonly used by IT outsourcing firms.

By Sumeet Chatterjee

(Reuters) – Standard Chartered has agreed to buy the Indian wealth management unit of Morgan Stanley, helping the British bank expand its private banking business in Asia’s third-largest economy.

The sale underscores growing consolidation of Asia’s wealth management industry, which is struggling with rising regulatory costs and wafer-thin advisory fees.

MUMBAI (Reuters) – Private equity investment in Indian infrastructure is poised to pick up following a lengthy dry patch as debt-stressed operators of toll roads and other projects come under pressure from banks to offload assets to strengthen balance sheets.

This time, would-be investors such as KKR (KKR.N: Quote, Profile, Research), the Blackstone Group (BX.N: Quote, Profile, Research) and Macquarie Group (MQG.AX: Quote, Profile, Research) are looking at buying into completed projects, a relatively safe bet, tempted by valuation expectations that have fallen roughly 25-30 percent over the past two years, fund managers and bankers said.

MUMBAI, May 16 (Reuters) – Private equity investment in
Indian infrastructure is poised to pick up following a lengthy
dry patch as debt-stressed operators of toll roads and other
projects come under pressure from banks to offload assets to
strengthen balance sheets.

This time, would-be investors such as KKR, the
Blackstone Group and Macquarie Group are looking
at buying into completed projects, a relatively safe bet,
tempted by valuation expectations that have fallen roughly 25-30
percent over the past two years, fund managers and bankers said.

MUMBAI/DUBAI (Reuters) – Jet Airways (JET.NS: Quote, Profile, Research) will sell a minority stake to fast-growing Abu Dhabi-based Etihad Airways for 20.6 billion rupees (roughly $379 million) after months of negotiations, giving a lift to India’s embattled aviation industry.

The investment would be the first by an overseas operator in an existing Indian carrier since the country relaxed ownership rules in September to allow foreign carriers to buy up to 49 percent in local airlines, which face stiff competition and high operating costs.

MUMBAI/DUBAI, April 24 (Reuters) – India’s Jet Airways
will sell a minority stake to fast-growing Abu
Dhabi-based Etihad Airways for roughly $379 million after months
of negotiations, giving a lift to India’s embattled aviation
industry.

The investment would be the first by an overseas operator in
an existing Indian carrier since the country relaxed ownership
rules in September to allow foreign carriers to buy up to 49
percent in local airlines, which face stiff competition and high
operating costs.

MUMBAI (Reuters) – Indian tax officials have opened up a new front in their battle to increase revenue collected from companies, targeting manufacturing firms that slash prices below cost in order to sell slow-moving inventory.

Car makers in particular, mostly multinationals, are in the spotlight, several tax officials and industry executives said.

MUMBAI, April 16 (Reuters) – Indian tax officials have
opened up a new front in their battle to increase revenue
collected from companies, targeting manufacturing firms that
slash prices below cost in order to sell slow-moving inventory.

Car makers in particular, mostly multinationals, are in the
spotlight, several tax officials and industry executives said.

HONG KONG/MUMBAI, April 10 (Reuters) – Canada’s Manulife
Financial Corp and the Indian affiliate of Standard
Life plc are among the suitors to place first-round bids for
HSBC plc’s Indian life insurance business, a stake valued around
$200 million, people familiar with the matter told Reuters.

HSBC plc, Europe’s biggest bank, is selling its 26
percent stake in a life insurance joint venture with two Indian
state-run banks, as it sheds noncore businesses globally.