All the corporate accused had challenged the special CBI court's order declining their bail pleas and directing their arrest on April 20.
The Delhi high court on Tuesday refused to grant early hearing on the Central Bureau of Investigation's appeal challenging the acquittal of former Union telecom minister A Raja and others in the 2G spectrum allocation scam case.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Land costs constitute 50 to 60 per cent of a project's overall costs.
Radia, chairperson of Vaishnavi Corporate Communications and Tata, chairman of Tata sons Limited, have been asked by the PAC to appear before it on April 5 at 11 AM and 3 PM respectively to give 'oral evidence' on the subject 'recent developments in the telecom sector including allocation of 2G and 3G spectrum'.
The department of telecommunications (DoT) will soon start looking into the issue of ineligibility of recent licensees such as Unitech, Loop and Datacom, in the wake of the Comptroller and Auditor-General's scathing report. And, take action, if it thinks it is required.
The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of 'innovative' housing financing schemes.
Two top executives of Tata group -- Chairman of the group's realty and infrastructure arm R Krishna Kumar and its Managing Director and Chief Executive Officer Sanjay G Ubale -- were on Thursday questioned by the CBI in connection with the 2G spectrum allocation scam.
The Haryana government removed senior IAS officer Krishan Mohan as the state's home secretary after the Central Bureau of Investigation booked him and a real estate company in a graft case in a multi-crore mega project in the city.
'The transactions were done in a circuitous route deliberately and most of the companies involved in it are Reliance ADA group firms.'
During their twice-a-week meetings (interview in jail parlance) with family and visitors, these executives are also permitted to get home-cooked food. That's about all as far as luxury goes.
For over a year Sanjay Chandra, managing director of the Unitech group, has been under a cloud for various reasons.
Nine companies were given new licences in January 2008.
Slum rehabilitation projects, increase in FSI trigger frantic activity by funds.
The BoA also allowed three developers, including Unitech Infopark, to surrender their SEZs, he said, adding they would have to pay back the tax concessions availed while executing the projects and other pending dues.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The ED, in its chargesheet, had alleged that Rs 200 crore was paid by Swan Telecom (P) Ltd promoters to DMK-run Kalaignar TV.
Balwa, who is accused along with 16 others in the case, claimed that he cannot be prosecuted for pushing back Tata in the race as the firm was never in the race to get the 2G spectrum licence
Out of 122 Unified Access Service licences awarded in 2008, as many as 85 licences were given to the six new entrants to the telecom sector.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
There are early signs of demand pick-up in the sector, but a lot depends on pricing and the demand for housing during the festival season.
Debt overhang, unsold inventory and lacklustre investor interest could force developers to cut prices.
This upturn comes soon after an earlier stalling of demand. In February, DLF, the country's largest property developer, said it had stalled construction on 16 million sq ft of commercial space (retail and office) due to lack of demand. So, too, with other developers like Unitech, Parsvnath and Raheja, who either stalled or slowed the construction of their commercial properties because of a demand-supply mismatch.
The accused had also requested the court to take on record the written answers afresh.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
Sources now believe that the next few months can see more companies raising money through qualified institutional placements and private equity. The success of the Unitech and DLF block deals have encouraged other companies to jump onto the bandwagon.
The telephone subscriber base was 996.49 million at the end of March.
The new telecom players in the country, which had received licences in January 2008 and were subsequently allocated spectrum, are ready to roll out services in the next three to four months.
DLF says it has started the process of giving possession of housing units at New Town Heights project according to its commitment
Real estate companies such as Unitech, Peninsula Land, HDIL and Future Capital, the financial services arm of Future Group, are in talks with investors including some leading private equity funds for raising investments for their projects, after the collapse of Lehman Brothers, whose third party fund had promised investments in these property companies' projects, according to industry sources.
More than 50 companies had rushed to make qualified institutional placements after real estate firms like Unitech and Indiabulls raised money through this route. Now it appears that only some of these companies may be able to raise equity through this route, on rising concerns over valuations and over-supply.
Battered and bruised by the slowdown, real estate developers have done a mid-course strategy correction and begun to offer low-cost and affordable houses.
Mobile Telecommunications Company (Zain), the third largest telecom operator in West Asia and a leading operator in Africa, has initiated talks with several Indian telecom service providers to buy stakes.
Perceived till recently as low-budget and low-margin, the domestic market now means big business to Indian IT majors.
Domestic brokerage Sharekhan's last month's analysis of buy and sell transactions by mutual funds shows that the fund houses purchased stocks from sectors such as infrastructure, IT, telecom and healthcare, while offloading shares from oil and gas and banking sectors. Domestic mutual funds are lapping up the buying opportunity present in the bear gripped stock market and made net purchases worth Rs 3,179 crore (Rs 31.79 billion) in equities in June.
Most developers charge 18 per cent annual penalty from defaulting customers. Over the past year, many people who had booked a home on installments have lost jobs or taken salary cuts. The past 6-9 months have seen many of them defaulting on payments. "The move to waive penalty on late payment is a smart move. This will provide customers the much-needed cushion at a time when a lot of them may want to back out due to their financial condition," said a real-estate consultant.
QIP is an investment option which is available only to QIBs -- Qualified Institutional Buyers, which are public and financial institutions, foreign venture capital and institutional investors registered with SEBI, scheduled commercial banks, mutual funds and various other categories, defined in Clause 2.2.2 B (v) of the SEBI (Disclosure & Investor Protection "DIP"), Guidelines.
The move gains importance after two new telecom players -- Swan and Unitech -- sold stakes to foreign companies at high premiums after the allocation of spectrum. The Left parties had also accused Telecom Minister A Raja of underselling spectrum that cost the national exchequer around Rs 60,000 crore (Rs 600 billion).
RIL, SBI and ONGC are among the top 200 companies ranked 121st, 150th and 152nd, respectively by US magazine Forbes. New entrants include Hero Honda Motors, Sun Pharma, Indian Bank and Jindal Steel and Power Ltd. However, five Indian companies -- scam-hit IT firm Satyam Computer, realty firm Unitech, Suzlon Energy and two Anil Ambani group firms Reliance Power and Reliance Capital -- have been dropped.
The agency had earlier alleged that the company had sold its 9.1% stake to Delphi for Rs 10 crore --a rate much lower than the prevalent market price.
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