India's outward foreign direct investment (FDI) saw a significant increase of 27.5 per cent, reaching $7.06 billion in March, primarily driven by a sharp rise in guarantees for overseas units, according to the Reserve Bank of India.
A woman constable was assaulted and had her clothes torn during an anti-mining protest in Chhattisgarh's Raigarh district. Two men have been arrested in connection with the incident.
Mining conglomerate Vedanta on Friday beat Gautam Adani's Group to make a winning bid for the acquisition of debt-ridden Jaiprakash Associates (JAL) for Rs 17,000 crore, according to sources. The bid value translates into Jaiprakash Associates' net present value of Rs 12,505 crore.
Jindal Power bagged 2 coal mines in Chhattisgarh.
As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II".
In what would be the second biggest initial public offer, Naveen Jindal-promoted Jindal Power Ltd plans to raise up to Rs 10,000 crore in this financial year.
When the initial public offer of Jindal Power was announced in 2009, it was seen by investors as a golden opportunity to own a quality stock.
While three operational mines in Chhattisgarh had a capacity of 12 million tonnes (mt), six were yet to start production.
Central Bank of India classified its loans to Go First as non-performing assets (NPAs) in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). The no-frills carrier has been under insolvency proceedings since May 2023 and ceased operating flights on May 3 this year. The public sector lender's exposure, including government-guaranteed emergency credit to the ailing airline, amounts to about Rs 2,000 crore.
The NCLT has granted Future Retail Ltd (FRL) an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April 13, 2023, heard the application and granted the said exclusion of 90 days from CIRP of FRL and consequent extension for completion of CIRP till July 15, 2023," said a regulatory filing from the company.
As many as 48 companies, including Reliance Retail, Jindal Power Ltd and Adani group, are in the final list of eligible prospective resolution applicants for acquiring debt-ridden Future Retail Ltd. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, on Monday came out with the final list of 'Eligible Prospective Resolution Applicants'. On April 10, FRL's RP updated a list of 49 companies, which had submitted Expressions of Interest (EoIs) after the company's lenders decided to invite fresh bids after dividing its assets into clusters.
The fact that one Congress minister and MP nixed a project being promoted by another MP belonging to the same political party is not the only unusual aspect of this episode. This is also a rare instance of the central government acting on the basis of complaints made by a civil society organisation against a large industrial group.
According to Outlook, Adani Group and the RP-Sanjeev Goenka Groups are no more the favourites to bag the new teams.
Reliance Industries (RIL) is likely to be the lone bidder for Mangalore-based JBF Petrochemicals, which is up for sale after defaulting on bank loans worth Rs 5,000 crore. The lenders for the second time extended the deadline for submission of bids, which had ended on August 20, as several players, including public sector companies, were redrawing their acquisition plans, said people in the know. "There were several companies which had submitted their expressions of interest (EoIs) for the company but after due diligence decided to exit the race," said a source close to the development. "The new deadline for submitting financial offers is August-end," the source said.
Their coal block bids may be referred to CCI.
This is the first time India is offering coalmines to private companies for commercial sale.
Hindalco Industries won Dumri mine in Jharkhand
Nearly three months after it withdrew initial nod, the environment ministry has restored the clearance granted to Jindal Power for its Rs 13,000-crore (Rs 130 billion) project in Chhattisgarh.
GMR, Tata, Jindal will set up hydro projects in Nepal, sell power to India.
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
The court issued notice to the ministry and directed it to file its response in two days.
Seeks talks after court battle lost.
Programme will create world's largest energy saving certificate-trading platform.
Pulok Chatterjee has joined the Prime Minister's Office.
The project of Reliance Energy with capacity of 4000 MW at Shahapur in coastal Raigad district is in progress and is expected to be completed by 2011, Maharashtra Legislature was informed.
Govt to issue ownership rights of 15 coal mines on Mar 23.
Forty domestic companies, including the Videocon group, Jindal Power and Tata Power, have formed a group to convince the central government to allow private participation in generation of civilian nuclear energy.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
Five companies, including NTPC, Reliance Power, Lanco Infratech, Jindal Power and Sterlite Energy, of the 11 pre-qualified bidders, were in the fray for the project. The financial and technical bids for the coal-based thermal power project were invited on December 29 and the final financial bids were to be opened within 15 days.
The government has so far closed bids for 13 blocks.
Adani Power bagged Jitpur mine in Jharkhand.
Savitri Jindal has retained the tag of being the richest woman in India with a networth of $5.2 billion
CAG audit is likely to be completed in six months.
'A lot of people -- whether farmers, students or businessmen -- think when they take a loan, that everything will go well and they will pay back.' 'Sometimes, things don't go well.'
The states will get over Rs l lakh crore.
Four big transmission projects went under the hammer last month.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
The Modi government's e-auction policy for coal, meant to shield the consumer against hike in electricity charges, has already led to serious allegations of cartelisation among the bidding corporates. Matters came to such a pass that the government at one point last week was considering inviting the Central Bureau of Investigation to probe the matter, reports Sheela Bhatt/Rediff.com.
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