The calculation excludes cross-holding of listed group cos in each other.
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Officials said security personnel, including those from paramilitary forces, have been deployed to keep a strict vigil. Security at inter-state and inter-district borders has also been tightened, they said.
A Delhi Police spokesperson said that nearly 500 personnel have tested positive for the deadly virus so far.
The CBI has filed an FIR against Amrapali Leisure Valley Developers Pvt Ltd, its director Anil Sharma and others for allegedly cheating Bank of Maharashtra and Andhra Bank of over Rs 230 crore, officials said on Friday. The banks had sanctioned credit facilities to develop a housing building at the Tech Zone IV in Uttar Pradesh's Greater Noida on a plot measuring 1.06 lakh square metre, the FIR alleged. The company failed to maintain financial discipline following which the account was declared a non-performing asset on March 31, 2017, the complaint from Bank of Maharashtra, now part of the FIR, has alleged, adding that "it has resulted in the loss of over Rs 230.97 crore". Following the FIR, the CBI Thursday conducted searches at four locations in Delhi, Noida and Ghaziabad, they said.
On July 23, the apex court had cracked its whip on errant builders for breaching the trust reposed by homebuyers and ordered cancellation of the registration of Amrapali Group under the real estate law RERA, and ousted it from its prime properties in the NCR by nixing the land leases.
The Delhi Police claimed that Disha Ravi, who was arrested by a Cyber Cell team of the force on Saturday, was an editor of the 'toolkit Google doc' and 'key conspirator' in the document's formulation and dissemination.
'If people show laxity by not wearing masks or wearing it inappropriately or violate social distancing norms, and if law enforcement agencies do not penalise and ensure violations do not increase in quantum, then we are certainly in for a trouble. And, the next wave could be worse than the second wave situation'
He also dismissed the charge that the attacker was an AAP supporter as claimed by the police.
The additional director general of police (security), however, said in an order on Friday that the security personnel were 'being withdrawn on a purely temporary basis in connection with an emergent law and order duty'.
The turnaround of SAIL from several quarters of losses was one of the most challenging experience, said Anil Kumar Chaudhary, the outgoing chairman of the country's largest steel maker. The chairman said he also wants to see SAIL paying back at least 50 per cent of its debt in the near future. Chaudhary who had joined SAIL as a junior manager in 1984 would be superannuating from the top post on December 31, 2020 after serving the company for almost 36 years in various roles.
On May 25, Batra was removed as IOA chief after the Delhi High Court struck down the post of 'life member' in Hockey India, courtesy which he had contested and won the apex body elections back in 2017.
Six months after an infrastructure deal with brother Anil Ambani, Mukesh Ambani has now joined hands with Sunil Mittal.
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
Veteran sports administrator Narinder Batra quit his positions as International Hockey Federation president and also gave up IOC membership, hours after CBI conducted multiple raids at his residence and offices in New Delhi and Jammu.
Bollywood gets into celebration mode!
'This four-member committee cannot supersede the four-five member ministerial committees, 25 top-level government bureaucrats, with whom we have had nine rounds of discussions each of which lasted for more than six-seven hours.'
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL), a document detailing steps needed to complete India's biggest privatisation showed. Billionaire Anil Agarwal's Vedanta group as well as two US funds -- Apollo Global and I Squared Capital - had last year submitted initial bids to buyout the government's entire 52.98 per cent stake in India's third-biggest oil refiner and second-largest fuel retailer. Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said Transaction Advisor and Asset Valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.
With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe--from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it's an all-out effort to prevent the scale of devastation seen in the first two waves. At least two top steel companies--Tata Steel and ArcelorMittal Nippon Steel India (AM/NS India)--are pushing for vaccination certificates for entry into work premises. AM/NS India, a joint venture between world's leading steelmaker, ArcelorMittal, and Japan's Nippon Steel, is set to make vaccination the certificate a requirement from July 1.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Agra has long been known for the Taj Mahal, but it is also a manufacturing hub filled with micro, small and medium enterprises (MSMEs) that make everything from electronic components to metal products, from paints and chemicals to footwear. And five years after the introduction of the Goods and Services Tax (GST), the MSMEs here complain that while the indirect tax regime has been transformative, cutting out the need to file multiple taxes, its biggest drawback has been the delay in credit refunds. Whoever you speak to - MSME owners, tax lawyers, or industry bodies like the National Chambers of Industries and Commerce (NCIC), Agra Footwear Manufacturers and Exporters Chamber (AFMEC) and Agra Shoe Manufacturers Association (ASMA) - they all emphasise that the GST continues to face some key challenges.
The Delhi High Court on Wednesday placed Hockey India under a three-member Committee of Administrators (CoA) to run its day-to-day affairs
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
The Hinduja brothers, who run the multinational Hinduja Group conglomerate with interests across automotive, real estate and oil, moved up from third position last year to top the UK's billionaire charts this year.
RRBs were formed under an Act to provide credit to small farmers, agricultural labourers and businesses in rural areas.
About 50 per cent of the accounts that availed of the EMI moratorium amid the pandemic, which made things worse in an already slowing economy, are expected to be restructured, and of these accounts that would undergo restructuring, one-third, or Rs 6-9 trillion, could turn into NPAs.
Rajasthan Director General of Police Omendra Bhardwaj, who made it to the final shortlist of 3 candidates for the post of CBI chief, could not get the top post because he had no experience as an investigator.
Industrial output growth rate remained flat in April.
Operators oppose levying of charges for additional spectrum with retrospective effect.
Telecom honchos Sunil Bharti Mittal, Anil Ambani, Kumar Mangalam Birla and Vittorio Colao are expected to meet IT and Communications Minister Kapil Sibal tomorrow to discuss various issues impacting the sector.
The Bharti group has applied to the government for a licence to operate direct-to-home television services.
Ambani brothers on Wednesday showered lavish praises on Prime Minister Narendra Modi saying, India has now got a decisive and visionary leader.
Industry is of the view that rising interest rates is increasing the input cost as loans are getting costlier.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
Asks India Inc for a list of concerns in 4 weeks, to coordinate policy response within 60 days; FM says prevailing cynicism based on perception, not facts.
The sale of the NPA account is to happen through e-auction on January 30, as per the bid invite.
Chiefs of leading telecom firms, including Sunil Mittal of Bharti Airtel, Anil Ambani of RCom and Vittorio Colao of Vodafone, met Telecom Minister Kapil Sibal on Wednesday and placed their views.
An eclectic mix of Radias, Ambanis and Akulas hogged the headlines this year, with many an unfolding plot promising eventful corporate tales in 2011.
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