NTT had earlier sought the combined 63 per cent stake of the promoters and private equity firm General Atlantic Partners, but their exclusive talks failed due to a valuation mismatch.
Lavasa had clarified that the development carried out at the Lavasa City were within the framework of the clearance granted by the state environment ministry.
The company, which finds itself at the centre of the real estate scam, as alleged by the Central Bureau of Investigation, is housed in a dilapidated building, and from the exterior, nobody can ever guess that the fourth floor of MMFSL would be so swanky.
Undeterred by strong objections from opposition parties and several non-government groups, the Maharashtra government is to proceed with the Maharashtra Special Economic Zones and Designated Areas Bill in the legislature during the winter session beginning on December 1 in Nagpur.
Sajjan Jindal's JSW Energy moved a step closer to securing its coal requirements, signing a definitive agreement with the management of CIC Energy on Wednesday, to buy them out and take control of the Toronto-listed company. CIC Energy has an 'A-grade' mining-cum-power complex called the Mmamabula Energy Complex in Botswana, Africa. The field there is estimated to have 2.6 billion tonnes of high-thermal coal, mostly above 6,000 Kcal/kg of calorific value.
GAIL India plans to consolidate presence in petrochemicals and renewable energy, allocate a percentage of annual capital expenditure for exploration and production (E&P), pick up equity in upstream LNG projects abroad, and pursue investments in shale gas projects in and outside.
The CM-elect would have to strive to regain the state's past glory, as its earlier eminence has been challenged by Gujarat, Karnataka, and many other states. Besides, the burgeoning debt burden, which has already crossed Rs 1,70,000 crore, rising fiscal and revenue deficits had put increasing pressure on the administration to avoid overdrafts.
The Aditya Birla Group is back in acquisition mode, as group firm Aditya Birla Nuvo may bid for the carbon black division of Germany's Evonik Industries. The division, with annual sales of $1.3 billion and 1,700 employees across 12 countries, is the second largest in the world.
China's growing dominance in global trade is definitely a matter of concern for both the US and India.
India to get a major financial boost from the US for development of infrastructure.
Trade and commerce issues, bilateral and global, are expected to come up for debate.
The US-India Business Council (USIBC) in coordination with the Confederation of Indian Industry (CII) and Federation of Indian Chambers of Commerce & Industry (Ficci) is preparing a list of invitees for the business summit to be addressed by visiting US President Barack Obama.
State power minister Ajit Pawar has told the MahaVitaran, MahaGenco and MahaTransco to upgrade infrastructure to meet challenge of another 25,000 Mw, spread the network quickly, cover uncovered areas, separate out feeders and improve efficiency in providing quality service to customers.
Cidco gave a presentation on the subject to the EAC members.
A senior official from the Protocol Department, who is involved in the preparations for Obama's visit to Mumbai and Delhi, said that there have been requests from a large number of chief ministers. But no such meeting has been granted.
The special dispensation would lead to redevelopment of 19,000 old and dilapidated buildings and rehabilitation of slums situated in the coastal area in Greater Mumbai.
After months of uncertainty, there is finally a glimmer of hope for the proposed Navi Mumbai airport. Environment & Forests Minister Jairam Ramesh told a TV channel today that he had already spoken to his counterpart in the aviation ministry, Praful Patel, and hoped "to find a compromise soon". "There will be an agreement. Our team is going to Navi Mumbai," Ramesh said.
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Reliance Industries (RIL), India's largest private sector company, is finalising a new alliance with engineering and project management partner Bechtel Corporation, as it prepares to enter the power sector.
The real estate sector in Maharashtra foresees a loss of Rs 2,000 crore (Rs 20 billion) due to the ban on extraction of sand by the Bombay High Court. The realty industry has sought the intervention of the state government to tackle the crisis.
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