A stake sale deal between Patni Computer Systems and iGate is on course, but has been delayed due to procedural issues.Sources involved in the deal said they include tax-related developments and offshore transaction fees.
Chief Minister Prithviraj Chavan appointed Subodh Kumar, a 1977 batch IAS officer, as the commissioner of India's richest civic body - the BrihanMumbai Municipal Corporation (BMC). Kumar replaces Swadhin Kshtriya who has been appointed as the revenue secretary.
However, the Carlyle-Advent consortium could revise its bid upwards, said two independent sources tracking the deal.
After government's measures like export ban and import from Pakistan, average wholesale prices of onion in Nashik district's various Agriculture Produce Market Committee (APMC) markets have come down by around 45 per cent to Rs 2,071 a quintal in the last three days.
The current talks on stake sale by its promoters at India's seventh largest information technology services company, Patni Computer Systems, seem to be in the final stages. Whichever way the deal swings, analysts feel the company will lose some business.
The Maharashtra government has launched a "restaurant" to save the vulture, nature's most efficient scavenger. The 20-acre restaurant is located in the Fansad sanctuary in the Raigad district which is spread over 50 sq km.
Pavan Vaish, one of the co-founders and the chief executive officer of IBM Daksh, has announced that he will leave IBM by the end of February. IBM announced it had completed the integration of IBM Daksh and its business process outsourcing (BPO) operations would be rebranded as IBM Global Process Services.
The Maharashtra government has scrapped its policy to grant additional floor space index (FSI) for public parking in Mumbai city under its Development Control Regulations 33 (24). The government had notified the extra FSI for parking one-and-a-half years earlier following a rise in vehicle population and the need for parking in the city.
Three districts of Maharashtra - Ratnagiri, Sindhudurg and Raigad - on the western coast are set to become the power hub of this part of the country.
Deals worth $27 billion are up for renewal. Of these, almost $1.7 billion worth of contracts are currently with Indian services providers, said data from TPI.
Google, Yahoo, Rediff vie for market share of mobile internet users.
The rail link is considered necessary as it will help decongest the growing traffic once the proposed airport comes up in Navi Mumbai.
Actual construction on the Navi Mumbai international airport, which received the much-awaited environment clearances early this week, would begin in October next year as certain formalities remained to be done, said the City and Industrial Development Corporation (Cidco), a nodal agency for the project.
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.
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.
Private sector has continued to look at outsourcing and offshoring, despite government's measures.
Indian Railway Catering and Tourism Corporation (IRCTC), the country's leading online-ticketing platform, has seen a jump of 60 per cent in mobile ticket booking between January and October.
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.
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