Quite fed up with the state government's dilly-dally approach in repealing the ULCA in September, while releasing the grant of around Rs 400 crore under the JNURM, the Centre had warned the state government that if it did not repeal the ULCA, funding under the JNURM scheme would be stopped. Subsequently, the state legislature had passed a Bill to repeal the ULCA in the recently concluded winter session of the Assembly.
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
Vodafone-Essar, the leading GSM operator is raising around $500 million (Rs 2,000 crore) through overseas borrowing. This is the first fund raising by the telecom major after British telecom major Vodafone acquired a majority stake.
Videocon Industries, the oil-to-consumer durables company, has joined the race for the acquisition of the London-based Burren Energy, which recently rejected several approaches including one worth $3.5 billion (Rs 14,000 crore) from the Italian major ENI.
Chief Minister Vilasrao Deshmukh and other ministers like to boast that of the 450 SEZs coming up in the country, nearly 120 are in Maharashtra. However, since most of the SEZs are single product or IT SEZ, land acquisition is not much of an issue. But in the case of six SEZs, which are multi-product SEZs and where over 1,000 hectares of land have to be acquired, it is proving to be an albatross around the state government's neck.
Dubai Holding, an investment firm of the Dubai government, has threatened to come out with an open offer for Orient-Express Hotels if the Tata group acquires a significant stake in the hotel chain. This comes exactly a month after the Tata group's Indian Hotels Company bought 10 per cent and expressed interest in striking a deal which was turned down by Orient-Express.
The top slots at three Tata companies -- Tata Motors, Tata Steel and Tata Consultancy Services -- will be up for grabs in two years with incumbents Ravi Kant, B Muthuraman and S Ramadorai due to retire in 2009.
Interested parties are concerned about the possibility of 24 domestic banks and six financial institutions converting to equity Rs 1,480 crore worth of zero-coupon debentures to which they subscribed in 2002-03.
Even as the Bajaj imbroglio comes up for hearing before the Company Law Board (CLB) on October 23, there is every indication that this might turn out to be the longest-running family feud of all times.
Despite all its problems, V Thulasidas, head of the merged Air India-Indian Airlines, feels the elite cadre provides the most challenging environment.
The Maharashtra government is heavily banking upon Dabhol power plant to start functioning at its full capacity of 2,150 Mw to help the state tackle the 5,000 Mw shortage during peak summer season.
The plant will start functioning to its fullest by the end of January 2008, after delay of one-month from previous schedule.
Essel Propack, Amcore other contenders for $1bn deal.
The Indian steel industry is poised to witness an investment of more than Rs 5 lakh crore (Rs billion), which is over six times the total money ploughed into the sector since independence.
Arysta, the target, is a leading crop protection and life sciences firm.
The Maharashtra government can do little beyond using its good offices to pursue the Bajaj Auto management to revive production at its mother plant in Akurdi, near Pune.
The Securities and Exchange Board of India is set to introduce new norms to ensure higher public participation for delisting of company shares.
Korean major considers offering locals an export market in addition to compensation.
R-Money, the Anil Ambani group's retail brokerage arm, will introduce gold coins in smaller denominations of half gram and one gram in the market. The market is currently dominated by 5-gm and 8-gm coins.
Announcement for the Rs 4,000-crore acquisition likely today.
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