The National Company Law Appellate Tribunal (NCLAT) on Wednesday closed insolvency proceedings against Oyo and one of its subsidiaries, and also disallowed the intervention of external parties including Federation of Hotel & Restaurant Associations of India (FHRAI). Industry body FHRAI said in May it has been allowed by the NCLAT to intervene on behalf of hotels in the Oyo unit insolvency case before the tribunal. The association had filed the application on behalf of its member hotels in India, who it said at the time are operational creditors suffering hugely on account of non-payments of debt by Oyo.
Chief Economic Adviser (CEA) K V Subramanian on Tuesday exuded confidence that India would achieve double-digit growth in the current financial year on the back of policy initiatives and continuing reforms. He also said the country is well poised to meet the fiscal deficit target of 6.8 per cent of GDP. "At this stage, I can say confidently that we should be able to achieve that fiscal deficit number. "Any shortfalls that might happen on the disinvestment side will also be accompanied by positive surprises that have happened on tax revenue," he told reporters.
'India's output contraction in the previous year was among the worst in the world!'
ICMR Director General said some studies have suggested that antibodies last for three months while some others said they may last in the body for up to five months also.
The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the gross domestic product (GDP) of 9.2 per cent in April 2021 to March 2022 fiscal (FY 2021-22) given by the National Statistical Office (NSO) in its first advance estimate compares with 9.5 per cent expansion forecast by the Reserve Bank of India (RBI) last month. The economy had contracted by 7.3 per cent in the previous financial year.
'Seven hundred farmers lost their lives.' 'The protesting farmers were demonised and called names like andolanjiwi, Khalistani, anti-national.'
The death toll in the avalanche triggered by the bursting of a glacier in Chamoli has gone up to 58 as a total of 11 bodies are recovered from the Tapovan tunnel, whereas 146 people are still missing, said Uttarakhand Police on Tuesday.
Amy Jackson walked for Anushree Reddy on Day Five of the Lakme Fashion Week Winter/Festive 2015.
Shruti Haasan glided down the ramp in a breathtakingly beautiful creation by designer Anushree Reddy at Lakme Fashion Week Summer/Resort 2016.
Homegrown auto major Mahindra & Mahindra on Tuesday said it plans to launch 16 electric vehicles (EVs) by 2027 across SUV and light commercial vehicle categories to strengthen its leadership position in India's electric mobility segment. The company, which has set a cumulative revenue growth target of 15-20 per cent by 2025, is keeping its options open to either bring in private equity investors or carve out its EV business into a separate entity to drive its growth. M&M, which has already announced plans to invest Rs 3,000 crore in EVs, is also considering a new brand name for the electric SUVs that it will launch by 2027.
'It will remain hostile to Indian interests owing to its close proximity to China.'
Prohibitory orders have been clamped in Bengaluru and Mangaluru in the backdrop of the protests against the controversial Citizenship Amendment Act. The orders in Bengaluru would be in force for three days starting from 6 am on Thursday morning to December 21 midnight.
For Afghans in India, including medical tourists from the war-torn country as well as migrants and refugees staying here much longer, the safety of friends and families is the biggest concern - particularly for those linked to the now collapsed government or who have had work ties with the US.
Three major cities in south India -- Bengaluru, Hyderabad and Chennai -- dominate India's office market with the contribution of 66 per cent of the total demand for office space during the last financial year 2020-21, according to Anarock report. The consultant noted that the main southern office market has overtaken other regions in terms of new supply, net absorption, and even rental growth. Among the top-seven cities, Bengaluru, Hyderabad and Chennai saw their share of total office leasing increase to 66 per cent in the 2020-21 fiscal year as against 47 per cent in FY18.
The spread of the Omicron variant of the coronavirus has made Indian companies persist with their policy of banning overseas trips and allowing only essential travel within India. The IT services firms, which had planned to ask their employees to return to the workplace, are also waiting and watching the Covid-19 situation before fully opening up their offices. Large conglomerates like the Tatas, Birla, JSW and Reliance are continuing with the mandatory social distancing and masking policies within their office premises.
'Naval Aviation has contributed through numerous humanitarian assistance and disaster relief operations during which it has provided relief to fellow citizens like the recently conducted rescue operations off Mumbai during Cyclone Tauktae in May 2021.'
What is particularly worrying is that the vast majority will not have access to testing or even to proper treatment. These cases could have been avoided if the government had shown the political will to do so, observes Rashme Sehgal.
Citing the massive surge in Omicron infections and the resultant impact on overall economic activities in the March quarter, Swiss brokerage UBS Securities has revised downwards its India's growth forecast for the current financial year to 9.1 per cent from 9.5 per cent earlier. However, UBS Securities does not see the third wave impact extending to the next financial year as it has revised upwards its real GDP forecast to 8.2 per cent, up from 7.7 per cent earlier, expecting the real GDP growth to remain well above the historical average. The World Bank pegs it at 8.3 per cent, unchanged from its June assessment, saying the recovery is not broad-based yet.
Though COVID-19 and the subsequent lockdown left a trail of economic devastation on most countries, India can potentially build upon three positive aspects - push in the rural economy, stronger federalism and a huge consumption base, former RBI Governor Duvvuri Subbarao Rao has said. In his foreword on a Telugu book titled "Maandhyam Mungita Desam" (Nation in Recession) authored by Tummala Kishore, he said the challenge for the government in the months and years ahead is clear: to put the economy back on a healthy growth trajectory and ensure that growth is inclusive, with lower income households too enjoying the benefits of rapid growth.
India's macroeconomic situation is certainly better than what it was a year ago, eminent economist Pinaki Chakraborty said on Monday, while expressing hope that the country will be back on the path of economic growth if there is no major third wave of the COVID-19 pandemic. In an interview with PTI, Chakraborty, who is the director of the National Institute of Public Finance and Policy (NIPFP), said that inflation may remain at an elevated level as there was a significant fiscal and monetary expansion in the last 18 months. "The current macroeconomic situation is certainly much better than what it was one year back. We are seeing recovery in most sectors," he said. Chakraborty noted that COVID-19 vaccination has been going on at a very fast rate in India.
"The LCA Tejas was deployed by the Indian Air Force on the western front close to the Pakistan border to take care of any possible action by the adversary there," government sources told ANI.
Leasing of office spaces witnessed a sharp uptick in the July-September period at 12.5 million square feet across top eight cities on better demand, especially from the IT sector, with economy coming back to normalcy and corporate workforces slowly returning to work from office, according to Knight Frank India. The gross absorption of office space stood at 4.7 million square feet in the corresponding period of the previous year and 3.6 million square feet in the previous quarter, according to Knight Frank's India Real Estate Update - Q3 2021 that was released on Monday through a video conference. The consultant noted that the total office transactions of the eight India markets in Q3 2021 have improved and reached 83 per cent of the 2019 quarterly average level.
The company, which already has around 66 per cent market share in the hatchback segment and about 50 per cent in the overall domestic passenger vehicle segment, currently sells Vitara Brezza and S-Cross in the SUV segment. In an interaction with PTI, MSI managing director and CEO Kenichi Ayukawa acknowledged that there was some lag in launching new products due to the pandemic but the company is now on track regarding new model launches.
An overwhelming majority of Indians (84 per cent) feel it is safe to return to their workplaces, according to a Deloitte survey that suggests consumers in India are showing a positive spending intent and brighter outlook towards the future. The latest monthly analysis (wave 220) of Deloitte's Global State of the Consumer Tracker, signals a cautious consumption revival in the country, aided by the decreasing number of Covid-19 cases and an improved vaccination drive. The Global State of the Consumer Tracker is an online survey based on responses from 1,000 people each in 18 countries including India.
Anita Aikara/Rediff.com catches Malaika Arora for a quick chat.
Social distancing norms were violated openly by the seers when they and their followers descended the steps at Har ki Pairi to wade into the river.
The wild wander to the city in these times of the coronavirus.
Passenger vehicle majors like Hyundai, Tata Motors, M&M, Toyota Kirloskar and Honda on Wednesday reported growth in domestic sales in August riding on festive sentiments, although market leader Maruti Suzuki posted a decline amid a semiconductor shortage affecting the industry. The country's largest carmaker Maruti Suzuki India Ltd (MSIL) reported domestic sales at 110,080 units, as compared to 116,704 units in the same month last year, down 6 per cent. "Sales volume of the company in August 2021 was affected due to electronic components shortage.
Prepare to be wowed by Shruti Haasan's gorgeous cover for Aza.
Net leasing of office space rose 32 per cent year-on-year to 4.39 million sq ft during April-June period across seven major cities, but fell 16 per cent compared to the previous quarter because of the second wave of COVID-19 pandemic, according to JLL India. The net absorption of office space fell 19 per cent to 9.63 million sq ft in the first six months of this year, the property consultant said. The seven cities tracked by JLL India are -- Delhi-NCR, Mumbai, Bengaluru, Pune, Kolkata, Hyderabad and Chennai.
The Reserve Bank on Friday retained the GDP forecast for the current financial year at 9.5 per cent and flagged global semiconductor shortages, elevated commodity prices and potential global financial market volatility as downside risks to economic growth. In his address after the three-day meeting of the rate-setting panel, RBI Governor Shaktikanta Das said recovery in aggregate demand gathered pace in August-September, and it is reflected in high-frequency indicators, like railway freight traffic; port cargo; cement production; electricity demand; e-way bills; GST and toll collections. "The ebbing of infections, together with improving consumer confidence, has been supporting private consumption," he said, and added the pent-up demand and the festival season should give further fillip to urban demand in the second half of the financial year.
After breaching the value of 1 in the first week of August, the R number, which reflects how rapidly the coronavirus pandemic is spreading, has been steadily ebbing, according to researchers at the Institute of Mathematical Sciences, Chennai.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
Pay cuts for employees with fixed compensation of up to Rs 8 lakh have been reversed from August 1, while the rest will see restoration in a phased manner from October 2020.
In a gross violation of a Supreme Court order, people in several cities burst firecrackers until at least midnight, two hours after the 10 pm deadline. Loud bangs rent the air in New Delhi.
Masks were not worn by a large proportion and social distancing appeared impossible in an event in which, according to the mela administration, over 17 lakh people had taken a dip in the river in the first few hours up to 10 am.
More people seemed to be returning to their workplaces towards the end of the year, even as railway and electricity numbers disappointed. Most other indicators held on to their gains.
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Thousands of farmers, especially from Punjab and Haryana, have been camping at various border of Delhi for almost four weeks now as formal talks between the government and representatives of farmers' unions remained deadlocked with protesting peasants refusing to accept anything less than a repeal of the newly enacted laws.
Bir Singh Yadav, from Bahlolpur village in Noida, enacted the "symbolic suicide" at the Dalit Prerna Sthal where he has been camping along with scores of protestors belonging to the Bharatiya Kisan Union (Lok Shakti).
