The ministry also wants to extend support to states through a special provision from the proposed Rs 25,000 crore fund for electric bus and personal rapid transport initiatives.
The government proposes to divest 76 per cent of Air India, along with its shareholding in Air India Express and its ground-handling subsidiary, AISATS.
"To use this spectrum, BSNL has gone for a franchise model on a revenue-sharing basis. As per the provision of expression of interest and agreement signed with the franchisee companies, they are required to pay amortised value of spectrum/ cost to BSNL on monthly basis," Minister of State for IT & Telecom Gurudas Kamat said in a written reply to the Lok Sabha.
The April 2 Supreme Court order quashing the February 12, 2018 RBI circular (which ended all debt recast plans even on a one-day default) put paid to the resolution plan as banks were left with no leeway to restructure the loan and pay the promised Rs 1,500 crore interim funds.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
Government officials say a shareholding structure has been mandated to discourage non-serious bidders from accessing Air India's data room
The government by mid-January will appoint merchant bankers for the mega Rs 13,500 crore (Rs 135 billion) public offering of Oil and Natural Gas Corp (ONGC), which is targeted to hit the market in March.
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
Vedanta Aluminium is sourcing half of its bauxite requirement from Bharat Aluminium Company's mines.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
Fortis Healthcare has already received binding offers from four entities - KKR-backed Radiant Life Care, IHH Healthcare, Manipal/TPG consortium, and Munjal and Burman family offices.
State-run BHEL is exploring the possibility of formation of a separate finance company as a joint venture with a strategic partner to finance power projects.
Besides offtake pact, the navratna firm has planned equity infusion and forming joint ventures to expand its global footprint.
Premier League club Liverpool went up for sale Friday after American owners Tom Hicks and George Gillett appointed Barclays Capital to find a buyer.
Air India buyer has to take over interest-bearing debt of Rs 16,500 crore a large portion of which is aircraft related, meaning they are backed by aircraft value
The lion's share of the amount -- Rs 1,003 crore (till November 10) -- comes from an Environment Compensation Charge (ECC) imposed by the Supreme Court in 2015 on trucks entering Delhi while the rest is made up of cess on every litre of diesel sold, in effect since 2008.
Mhada presently has only Mumbai and Nashik cities in mind. If it takes off here, the thinking is to extend this to Pune and Aurangabad, and then elsewhere, if a common formula could be arrived at.
The deadline for these overseas mining firms for responding to CIL's EoI notice is August 31 this year.
Former Chief Justice S P Bharucha to oversee selection process, guide govt-nominated board.
Out of nearly 30 public sector undertakings and assets under 'strategic sale' plan, only the ONGC-HPCL plan has been completed
Coal India said 52 global companies have expressed interest in partnering with it for acquiring mines overseas, especially in Australia, Mozambique and Indonesia.
PE funds say they have enough money to buy two or three of the indebted companies and the issue is not cash but the management bandwidth to turn them around.
The six-member government-appointed board of scandal-hit Satyam Computer Services today appointed investment banks Goldman Sachs and Avendus to explore various strategic options for the company, which include identifying strategic investors and obtaining expressions of interest from them in a fair and transparent manner.
Even as the implementation of MNP is likely to be delayed from the scheduled date of September 20, the PSU, which hopes to attract substantial number of users from the rivals like Bharti Airtel and Reliance Communications, has called for expression of interest for MNP gateway.
The last date for receiving EoIs is February 28, after which a new reserve price will be announced.
These include B K Modi's Spice, Larsen & Toubro and Tech Mahindra. iGate, which had participated in the first round of bidding, backed out from completing the second round. Global majors like IBM are understood to have entered the second round, but this could not be independently confirmed. Other names floating include that of Hewlett-Packard and KKR Private Equity Investors.
Satyam on Thursday closed registrations for potential bidders as it began a process to sell 51 per cent stake in the company, which is caught in the country's biggest corporate scandal. The board will make the financial and legal data available to those shortlisted companies who will qualify in the EoI criteria.
The airlines is in talks with Oman Air and Etihad.
India's scandal-hit Satyam Computer Services is to invite formal bids from potential suitors this week, pushing ahead with a possible sale - even though it could be months before its accounts are restated.
Government believes privatisation would increase the airline's efficiency and make it profitable, enriching the value of the remaining stake with it.
In an interactive session at the 7th Pravasi Bharatiya Divas event at Chennai, Viswanatha Reddy, director, KTD, said the state helicopter tourism was proposed for Mangalore and Hospet. The department had identified Mangalore, Karwar and its coasts, which would have casinos, bars and so on for cruise tourism. He said 14 more helipads would be set up soon in addition to the present 23.
LIC has proposed a consolidation of its real estate portfolio and is inviting bids from consultancy organisations.
The pension regulator on Friday set the stage for opening the business for non-government employees from April by seeking proposals for setting up six pension funds.Among the host of conditions specified in the Primary Information Memorandum and Expression of Interest package, the Pension Fund Regulatory & Development Authority intends to allow up to 26 per cent foreign investment but with the rider that the direct or indirect holding should not exceed 26 per cent.
Besides IOC, Royal Dutch Shell is believed to have evinced interest in reviving the petrol pumps, industry sources said. Reliance, as part of a two part bid process, had sought expression of interest from IOC, Shell, Bharat Petroleum and Hindustan Petroleum by Friday for a possible partnership for reopening the petrol pumps.
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
"Satyam will give us the scale. This will make us stronger," says Phaneesh Murthy, CEO of the Freemont (California)-based IT services provider, iGate Corporation, and one of the suitors of the beleaguered IT corporation.
On one hand, they feel the sale will help in restore the firm's past glory. On the other, they fear that life would be tougher in the new company. Notwithstanding management assurances that existing staff won't be retrenched after the takeover, several employees are understood to be hunting for openings elsewhere.
L&T is the largest single shareholder in Satyam holding a 12 per cent stake in the IT firm.
As per the present policy, foreign carriers are not allowed to pick stake in Indian airlines. However, the government allows FDI up to 100 per cent in other areas of the aviation sector, like developing of greenfield airports or in cargo and maintenance, repair and overhaul facilities.
Satyam Computer Services on Friday received approval from market regulator Securities and Exchange Board of India to facilitate a global competitive bidding process enabling it to sell 51 per cent stake in the company to a strategic investor.
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