Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
With City pulling out and Chelsea set to leave, while Liverpool's players posted a shared Twitter message saying they want no part of the new league, the ESL project looks doomed.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
He submitted his resignation to the Governor of Andhra Pradesh and Telangana ESL Narasimhan who accepted it, a Raj Bhavan press communique said.
Andhra Pradesh Governor ESL Narasimhan on Monday had an hour-long meeting with Union Minister of Health Gulam Nabi Azad and discussed with him the hot subject of auction of medical seats in private medical colleges for a cost of Rs 70 to 80 lakhs.
Andhra Pradesh Governor ESL Narasimhan met Congress president Sonia Gandhi on Friday evening to reportedly discuss the administrative and political situation in the state.The two discussed the expansion of the state cabinet, the ordinance on micro-finance institutions, trimming the administration and preparing for political developments after the Justice Sri Krishna Committee submits its report on the creation of Telangana state.
Centre has summoned Governor of Andhra Pradesh ESL Narasimhan to New Delhi on January 4 to have consultations and discussions on the ongoing Telangana row in the state.
Vyshnav, a student of MBBS third year, suddenly collapsed while having dinner, the sources said.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
Fifty-eight-year-old Soundararajan, the Tamil Nadu BJP chief and the party's national secretary, moves to Raj Bhavan in Telangana.
Two Andhra Pradesh ministers charge sheeted by the Central Bureau of Investigation in the Jaganmohan Reddy's disproportionate assets case are out of the cabinet. After much delay Chief Minister N Kiran Kumar Reddy forwarded the resignation letters to the governor ESL Narasimhan, who immediately accepted it.
The TDP leadership sees the hand of Prime Minister Narendra Modi behind the governor rejecting the ordinance. Member of Parliament CM Ramesh told this correspondent that the governor was acting like the "Centre's agent".
President Pratibha Patil nominated Andhra Pradesh Governor ESL Narasimhan as the doyen of governors to discharge responsibilities and conduct the three-day conference of governors starting October 29 at the Rashtrapati Bhavan.
After Governor of Andhra Pradesh ESL Narasimhan emerged from a 45-minute meeting with Congress president Sonia Gandhi, a source indicated that they both had held key discussions on the current political situation in the state.
Governors of West Bengal, Karnataka and Andhra Pradesh created a flutter in Governors' Conference on Saturday by speaking out their mind on the present law and order, economic and fiscal situation in the country.
On Saturday, Telangana was the buzzword in New Delhi with Andhra Pradesh Chief Minister Kiran Kumar Reddy and Governor ESL Narasimhan flocking to the capital. But after a series of meetings held with Prime Minister Manmohan Singh, Finance Minister Pranab Mukherjee and Home Minister P Chidamabram, a conclusive decision still eludes the issue.
Prime Minister Dr Manmohan Singh summoned Governor of Andhra Pradesh ESL Narasimhan to New Delhi on Saturday to discuss the political situation in Andhra Pradesh, including the ongoing agitation on Telangana.
In a startling development, a Union minister and Congress leader has dashed off a letter to the Andhra Pradesh governor, urging him to take action against the state government ruled by his own party
Union Home Minister Rajnath Singh met governor of Andhra Pradesh ESL Narasimhan for an hour today in yet another attempt to bring about a thaw between the two warring states of Andhra and Telangana. Sources told Rediff.com that Rajnath Singh told the Narasimhan to explain Section 8 in the AP Bifurcation Act to both chief ministers.
The focal point of the Telangana issue has shifted to Delhi with the arrival of Andhra Pradesh Governor ESL Narasimhan and Chief Minister Kiran Kumar Reddy in the capital on Wednesday.
Earlier, TRS and TDP MLAs disrupted Governor ESL Narasimhan's speech on the opening day of the assembly's Budget session. They tried to tear his speech copy and climbed on the podium.
Prime Minister Manmohan Singh on Wednesday visited the Tirupati temple. He went barefoot to the temple, as per rituals, and performed circumambulations (walking around the temple) twice.Steadfastly sticking to the rituals, the PM took a bath and removed his shoes and socks before entering the temple. He performed the circumambulation of the holy dwajathsthambam (flag post) twice.
Telugu Desam Party chief N Chandrababu Naidu on Friday challenged at the YSR Congress President Y S Jaganmohan Reddy asking him to prove his might by parading the members of Legislative Assembly supporting him before Andhra Pradesh Governor ESL Narasimhan, before "dislodging the Kiran Kumar Reddy government".
The row kicked up by the ministers of Andhra and Rayala Seema region, who called agitators demanding a separate Telangana state 'anti-national and seditious', intensified on Thursday with pro-Telangana leaders urging the state governor to dismiss these ministers from the cabinet. A delegation of Telangana Rashtra Samiti and Telangana Joint Action Committee, headed by K Chandrasekhara Rao and Professor Kodanda Ram, met Governor ESL Narasimhan at Raj Bhavan.
Former international archer Lenin Cherukuri died while his ward and Commonwealth Games silver medallist Ritul Chatterjee escaped unhurt in a road accident at Jupdi village in Vijaywada in the wee hours of Sunday.
Rebel Congress leader Jagan Mohan Reddy on Friday met Andhra Pradesh Governor ESL Narasimhan in Delhi and discussed the state's political issues, including his controversial Odarpu Yatra.According to sources, Jagan is also looking for a way out of the present crisis that is threatening to split the state unit of the Congress. Neither the Centre nor the state government wants an election in the state right now.
Ace shuttler Saina Nehwal, shooter Gagan Narang and India cricketer VVS Laxman were among several sportspersons who were the part of the Queen's Baton Relay that arrived in Hyderabad on Saturday.
Members belonging to the ruling Congress and Telugu Desam Party tried to disrupt the customary address by the Governor to the joint session of the Andhra Pradesh Legislature on Monday by raising slogans for and against the bifurcation of the state.
It took 150 workers a total of four months to build this idol of Lord Ganesh, which cost approximately Rs 1 crore.
Nallari Kiran Kumar Reddy was sworn in as the Chief Minister of Andhra Pradesh on Thursday. No other member of his cabinet took the oath as he will finalise his team after meeting party president Sonia Gandhi and other central ministers.
The Centre has adopted a cautious approach on Telangana, after a detailed report from Andhra Pradesh Governor ESL Narasimhan warned it against buckling under the pressure from regional parties, over the creation of a separate state.According to highly-placed sources, Narasimhan met the leaders of all major political parties in the state and then sent three top-secret reports to the home ministry.
Andhra Pradesh Governor ESL Narasimhan is resorting to dinner diplomacy to avoid any last minute misunderstandings and to pave the way for smooth meeting of the first sitting of of the Justice Srikrishna Committee on Telangana.
Governor E S L Narasimhan met Congress president Sonia Gandhi at 10 Janpath to apprise her of the prevailing situation in Andhra Pradesh.
YS Vivekanand Reddy, younger brother of late Chief Minister Y S Rajasekhar Reddy will be the most notable new face in Andhra Pradesh cabinet which will be sworn in on Wednesday morning.
Vanvasi Chetna Asram founder Himanshu Kumar while reacting to the letter dashed by Chhattisgarh Governor ESL Naramsimhan to Prime Minister Manmohan Singh on Wednesday asking Union Home Minister P Chidambaram not to visit Naxal-hit areas in Raipur and Dantewada on January7, told rediff.com, "It means that the state government has something to hide."
In an unusual way, Governor of Chhatisgarh ESL Narasimhan wrote to Prime Minister Dr Manmohan Singh to resist the temptation of Union Home Minister P Chidambaram to visit Naxal affected areas in Raipur and Dandewada on January 7, 2010. During this visit P Chidambaram shall undertake a padayatra on Jan 7, 2009.
It is the only project in the world which can lift two TMC of water every day, the government said.
President Prathibha Patil will inaugurate a two-day conference of Governors on September 16. The main issues that will be discussed are internal security and terrorism.
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