Latest India News
Kothari took loan of Rs. 3.52 billion from Kanpur branch of Allahabad Bank and Rs. 4.85 billion from three other banks: Bank of Baroda, Indian Overseas Bank, and Union Bank of India
Reliance industries will join hands with global investors to set up the first digital area in Maharashtra
A bench headed by presiding officer GVK Raju passed the interim direction on an application by Yes Bank seeking recovery of Rs 5.6 billion loan given to Oscar Investment Ltd
The Odisha government will review the Gitanjali group's Rs 6.36 billion project to set up a gems, jewellery, lifestyle and luxury goods park in the state following involvement of the jewellery behemoth in the Rs 114 billion Punjab National Bank (PNB) fraud case.The project was to be set up by Gitanjali Infratech, a part of the Mumbai-based Gitanjali group, on 100 acres land at Ramdaspur near Cuttack, and it had received approval of the state government in November, last year."Following the revelation of Gitanjali group's involvement in the PNB fraud case, we have decided to review the project", said a top official of the Odisha government.He said, out of 100 acres earmarked for the gems, jewellery park, 30 acres had been allotted to the company for which it had made necessary payment to Odisha Industrial Infrastructure Development Corporation (Idco).Gitanjali group chairman and managing director, Mehul Choksi along with his nephew Nirav Modi are accused of defrauding PNB to the tune ..
The official checked the records which did not show such Letters of Understanding to Nirav Modi or Choksi's company
Amazon tied-up with various govt bodies to empower artisans, weavers and craftsmen to embrace online selling and expand their business
JK Paper has reported a net profit of Rs 1.86 billion during the April-December period of FY18, growing 75 per cent year-on-year
The real estate sector is facing multi-year demand slowdown, resulting in sluggish sales and unsold inventories
Bharat Petroleum Corp (BPCL) is looking to ramp up capacity to 56 MTPA, from 36.5 MTPA currently, by adding 5 MT to its Kochi unit and ramping up capacity of Bina refinery in MP by 9 MT
India still managed to maintain its position as a net exporter of finished steel
The US unit's reorganisation plan will include funds provided by automakers to help compensate those injured by the airbags
The immovable property in the form of land to the extent of 10.46 acres in Guindy, Chennai was purchased by VGN Developers in 2013 from Hindusthan Teleprinters Ltd
As of September 2017, L&T Housing held $1.6 billion in assets
Replying to notices, Fortis Healthcare said its wholly-owned arm Fortis Hospitals had deployed funds to the tune of Rs 4.73 billion as secured short-term investments to group firms of its promoters
State buoyed success of earlier notices to ferrous miners, through which it mopped up Rs 120 billion
Canadian investor Prem Watsa's Fairfax's Indian arm Fairfax India Holdings to pick up a 51 per cent stake in Kerala-based Catholic Syrian Bank (CSB) for around Rs 12 billion.Bank's Board today approved Fairfax's proposal and both the parties are expected to sign an agreement next week.Bank's Chairman T S Anantharaman has confirmed the development and said Fairfax India Holdings Corporation has formally indicated its continued interest in investing 51 per cent in the share capital of the Bank at a mutually agreed price of Rs 140 per share."The investment is subject to customary closing conditions, such as completion of required legal documentation and receipt of all applicable board, shareholder and regulatory approvals, including the approval of the Reserve Bank of India and the Competition Commission of India," he said .It may be noted, last year Fairfax said that was ready to invest upto Rs 10 billion in CSB for 51 per cent stake, but the deal did not happen due to valuation ...
Industry experts feel differently. They say scam could impact working capital loans for the whole sector
This, despite Firestar International suffering from a high-leverage, off-balance-sheet exposure
The wind and solar energy sector in the country has received a stable outlook by rating agencies compared to negative outlook earlier. The development comes on the backdrop of favourable environment for wind and solar energy sectors as bids are being driven by central government agencies and power purchase agreements (PPAs) are becoming favourable to developers in terms of addressing grid curtailment and termination issues.India Ratings and Research (Ind-Ra) has maintained a stable outlook on the solar sector and revised the outlook on the wind sector to stable from negative for FY19.The agency said, development of guarantee funds by states/bidders, incentives to local solar panels manufacturers and exploring of wind-solar hybrid projects and offshore wind projects indicate a sustaining growth momentum in renewable power. The industry is also optimistic about the opportunities in near future, though cautious on the inherent challenges which could pull down the industry if not ...
Air service operators Air Deccan and Air Odisha have joined hands with Gujarat-based cargo operator and investors Gujarat State Export Corporation (GSEC) Ltd. and Monarch Group for catering to routes under round one of Ude Desh Ka Aam Nagrik (UDAN) scheme.Dismissing speculations of a buyout, Capt G R Gopinath of Air Deccan said, "This is a partnership between Air Odisha, Air Deccan, GSEC and Monarch. We cannot disclose the investment or the shareholding structure because it is still being worked. Each of us have our strengths such as Air Odisha's huge network. GSEC and Monarch as investors and Air Deccan's experience in this space. We have come together and created a joint venture between us to grow this infrastructure to link metros to rural towns under UDAN."While Air Odisha has bagged 50 routes and Air Deccan 34 routes of the total 124 routes being opened up under UDAN by the Government of India, Gopinath said that the JV will help the players optimise their resources."One company .