The Reserve Bank on Thursday eased foreign direct investment (FDI) norms and allowed banks to provide guarantees on behalf of NRIs to acquire shares and debentures in Indian companies.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
The jewellers and companies linked to Nirav Modi and Mehul Choksi had allegedly colluded with PNB officers to obtain fake bank guarantees to get loan from overseas branches of Indian banks including Allahabad Bank, Axis Bank and UCO Bank.
This comes even after the Indian ambassador there had said this would affect the interests of other Indian companies.
After the August 10 deadline, South American conglomerate Synergy Group Corp reportedly evinced interest in the airline, forcing the RP to seek lenders' nod to extend the deadline to August 31. The Synergy Group owns a majority in Colombian carrier Avianca Holdings, which has a codeshare partnership with the state-run Air India.
At present, India has 56,999 fuel outlets. Of those, only 6,276 are owned by private companies
The National Green Tribunal on Tuesday sought Art of Living head Sri Sri Ravi Shankar's reply on an application which alleged the spiritual guru had termed its earlier order as "politically motivated".
The court, however, reserved its order on a fresh plea of Roy seeking modification of an earlier order by which he was asked to pay Rs 5,000 in cash besides a bank guarantee of an equivalent amount.
NTPC was to open letter of credit in favour of RIL for an amount equivalent to a month's supplies.
Infra sector is neglected by the Modi govt.
Inside story of how Wall Street and Washington fought to save the financial system and themselves.
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
'The entire explanation of the episode is difficult to digest.'
With exporters' claim for over five months still pending, liquidity has been wiped out and the process of finalising new contracts has been held up.
Bernie Ecclestone has given Donington Park until the end of September to secure the funding needed to host next year's British Formula One Grand Prix or risk losing it. Donington is due to replace Silverstone as the venue for the British Grand Prix in 2010 and circuit operators have promised to invest 100 million pounds ($165.6 million) on revamping the circuit over a five-year period.
"All requirements including providing bank guarantee have been met by NTPC and gas flow can start as early as tomorrow," an official said.
Releasing its recommendations for BWA spectrum allocation on Friday, Trai has suggested that the auction should be done in blocks of 5 MHz each and any bidder can bid for one or two or three blocks. A company can bid up to a maximum to 15 Mhz in block of 5 Mhz. The bidder has to specify before the auction, the number of blocks he desires to bid for.
The irony of this scheme to benefit farmers is that it could add to the problems for the government because the mechanism to procure and store crops like pulses, coarse cereals and oilseeds barely exists.
Anil Ambani Group company has offered a bank guarantee and indemnity bond for the aircraft, but the Customs officials have that said that it is not possible without the seizure notice.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
The CBI has alleged that Justice Shukla received illegal gratification from Justice (Retd) Quddusi and B P Yadav, chairman of Prasad Education Trust which runs a medical college in Lucknow, for getting a favourable order to prevent delisting from counselling sessions for admitting students in 2017.
Maytas Infra will now have to submit a Rs 240 crore bank guarantee and will get a 60 day breather by paying a penalty. "The global recession and the consequent credit squeeze in national and international capital markets has created a force majeure situation. Besides, the ongoing PIL (filed by an NGO) is having an extremely deleterious effect on our ability to achieve the financial closure," said the company.
The loan was offered to Maytas by a consortium of banks to fund one of its infrastructure projects that has an execution period of few years. However, BOI has not given any direct credit to Maytas, a BOI official said. Maytas Infra came under the scanner of regulators and other agencies probing Satyam fiasco after Hyderabad-based IT giant plunged into a crisis on account of gross manipulations committed by its former chairman B Ramalinga Raju.
Rs 200-cr burden likely for TV rating agencies.
Sahara was to provide a bank guarantee from HSBC.
'We have already sanctioned loans worth over Rs 3,000 crore to around 120,000 customers.'
In the January, 2013 Cabinet note on revision of prices of all domestically produced natural gas, the ministry had proposed immediate implementation of the formula suggested by a panel, headed by Prime Minister's Economic Advisory Council Chairman C Rangarajan, for all producers except in cases where the current rate is valid for a certain period.
Realty Bill seeks its forfeiture in case of project delay.
Lawyers representing govt point out that telcos, because of the large money they can save if they get a favourable judgement, prefer to fight till all legal options are exhausted
Reliance Infrastructure on Thursday announced the cancellation of Rs 12,000 crore (Rs 120 billion) Mumbai's Metro Line 2 project citing non-fulfillment of certain obligations by Maharashtra government.
Upgradation to the new product (from Infosys) will stabilise by this month-end
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
The prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
The Department of Telecommunications has suggested forfeiture of the performance bank guarantee given by Hutchison-Essar and imposed a penalty of Rs 50 crore
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
The Union Cabinet in June decided to price all domestically produced natural gas at an average of the price prevailing at international gas trading hubs and the actual cost of importing liquid gas.
The aggrieved investors of National Spot Exchange (NSEL) have moved the Securities and Exchange Board of India (Sebi) against Financial Technologies (FTIL), the listed promoter.
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