Canadian firm Manulife and Mahindra & Mahindra (M&M), an Indian automaker with interests in financial services, have signed an agreement to form a 50:50 life insurance joint venture (JV) with a total capital commitment of up to Rs 3,600 crore each totalling Rs 7,200 crore.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
https://www.rediff.com/business/report/why-ipo-bound-oyo-seeks-to-rename-parent-firm/20250530.htm
At the heart of the disagreement is a 1,000-acre land parcel, part of the 3,400 acres owned by the family in Vikhroli, a northeastern suburb of Mumbai.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore
Arundhati Bhattacharya, the chairperson of country's largest bank SBI, has been named as the most-powerful woman in business in India by Fortune magazine.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
BS Annual Awards 2014: Power-packed jury picks the best 7 of corporate India
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