Budget 2014-15 has done away with the tax sunset clause of March 2014.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
The company had appointed a three-member committee of directors to implement the changes.
In a curious turn of events on Wednesday, Prime Minister Narendra Modi picked Rajeev Topno, a 1996 batch Indian Administrative Service officer from the Gujarat cadre and a part of the Prime Minister's Office under former PM Manmohan Singh, as private secretary.
E-commerce pilot for wholesale begins from July in Hyderbad and Lucknow
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
Narendra Modi, who used to tweet frequently, is said to have decided to maintain a single voice on Twitter after becoming prime minister. Nivedita Mookerji reports
Retailers present in India are in talks with Carrefour to buy its assets piecemeal, rather than the whole business.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
The two companies have been negotiating to remain separate entities after a merger.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
Experts are looking at a timeframe of anything between 12 and 18 months from the time of the new government for concrete signs of revival.
The company's search for a partner in India seems to be grounded once again
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
The company needs Rs 2,000 crore more in 2 years to repay debt.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
Adani Enterprises plans to invest a total of $25 billion in the next five years.
Walmart is waiting to understand as to how much multibrand retail might or might not move forward.
US-based Apollo Global has picked up stake in Indian firms which are not doing that well financially.
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