Lenders of debt-ridden Reliance Capital have voted in favour of a resolution plan submitted by Hinduja Group firm IndusInd International Holdings Ltd (IIHL) which made the highest cash offer of Rs 9,661 crore in the second round of bidding. As much as 99 per cent votes were in favour of IIHL as lenders expected to recover cash upfront of Rs 9,661 crore from the Hinduja Group entity, sources said. Besides, sources said cash balance with Reliance Capital (RCAP) of over Rs 500 crore would also go to lenders. So, in all lenders are expected to receive about Rs 10,200 crore for distribution as against Rs 16,000 crore principal secured debt, resulting in 65 per cent recovery for the lenders, sources said.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
In the event of the BJP's poor performance in the assembly polls this year and in early 2025, Modi's hold will get further weakened because he will no longer remain the invincible electoral persona tightly controlling the machine at his disposal, asserts Nilanjan Mukhopadhyay.
Federation Cup revived by the AIFF in an executive committee meeting on Monday.
The former I-League champions collected the Invitation To Bid document on the last day and Thursday is the submission deadline.
Besides the bills, the government has listed the first batch of supplementary demands for grants for 2023-24 for presentation, discussion and voting during the session.
Pakistan's newly-elected President Asif Ali Zardari on Tuesday announced that he would not draw any salary during his tenure as part of his bid to help the cash-strapped country face the challenging economic hardship.
Dubai will not enter a bid for the 2020 Olympic Games, instead opting to enter the race to host the event four years later, a statement released by the Gulf Arab emirate's media office said on Friday.
Mindtree plans to recommend to its investors not to subscribe to the open offer, citing low offer price, among key reasons. The founders were exploring several other options, including coming out with a counter open offer, with the backing of a financial investor.
Frankfurt's state prosecutor will look into bribery allegations concerning the 2006 soccer World Cup after a magazine report suggested a slush fund had been used to buy votes for the German bid in 2000, an official said on Monday.
The ATP Tour got on board and last month fans were able to bid for private sessions with celebrated tennis coaches on-site during tournaments in 2021.
Addressing a press conference, in New Delhi on Thursday, along with visiting International Olympic Committee president Thomas Bach, Indian Olympic Association president Narinder Batra said, "We are bidding for three events, 2026 Youth Olympics, 2030 Asian Games and 2032 Olympics. We don't know whether they will come to India or not. Let us see how fierce the competition is."
Citing news reports, Ramesh said they have "exposed" in considerable detail how the process was manipulated to help the Adanis.
India 'seriously' considering bid for 2036 Games, says sports minister
The incident took place when the man jumped golden grills inside the sanctum sanctorum, picked a sword and reached near the place where a Sikh priest was reciting the holy Guru Granth Sahib.
The Deccan Chronicle Holdings Limited (DCHL) on Thursday issued a tender notice inviting bids from prospective buyers for its IPL franchisee Deccan Chargers, which is currently in a financial mess.
The International Olympic Committee said on Thursday it saw no reason to doubt assurances from Tokyo about the legitimacy of payments made during its successful bid to host the 2020 Games.
Companies like Reliance Industries, which plans to produce natural gas from KG basin from 2008, will have to invite bids from consumers to discover the price of output under a new exercise adopted by the government.
Munich will not bid for the 2022 Winter Olympics after failing to win the support of the local population in a referendum on whether to bid for the Games.
The government is likely to invite the financial bids for divestment of ICVL, in the last week of February.
Independent valuers have given a liquidation value of up to Rs 13,000 crore for Reliance Capital, sources said. The Reliance Capital administrator, in the Committee of Creditors (CoC) meeting held on Wednesday, presented the valuation reports of the independent valuers - Duff & Phelps and RBSA, to the lenders. According to sources, independent valuers Dufff & Phelps and RBSA have given a liquidation value of around Rs 13,000 crore for Reliance Capital (RCAP).
Singapore's Ng Ser Miang is expected to announce a bid for the International Olympic Committee (IOC) presidency on Wednesday, a source close to the Olympic movement told Reuters on Tuesday.
Maharashtra Congress chief Nana Patole on Monday said he has conveyed to the party high command about recent political moves of the Sharad Pawar-led Nationalist Congress Party to allegedly weaken the Congress in the state.
Mohamed Bin Hammam has failed in his bid to be reinstated as head of Asian soccer by the Court of Arbitration for Sport (CAS), the Asian Football Confederation (AFC) said on Monday.
England's failed bid to host the 2018 World Cup "was by far the strongest contender", FIFA official said.
In its election manifesto -- 'Sankalp Patra' -- the Bharatiya Janata Party has vowed to implement the Union Civil Code (UCC), maintain peace in the Northeast, among other key poll promises.
FIFA's ethics watchdog on Wednesday imposed a warning and 7,000 Swiss franc ($7,055) fine on German football great Franz Beckenbauer for stonewalling an investigation.
World Cup 2022 hosts Qatar delivered another strongly worded statement on Monday denying "serious, unsubstantiated and false" allegations from English media that they had bribed FIFA executive committee members to win the hosting rights.
The Japanese Olympic Committee on Wednesday established a team to investigate whether any illegal payments were made during its successful bid for the Tokyo 2020 Olympics.
This "offer" comes days after Banerjee had threatened to stage a sit-in outside the Raj Bhavan to protest against his "holding back" bills passed by the state assembly.
Dallas, Boston, San Francisco, Los Angeles, Philadelphia, Washington, San Diego and Tulsa have expressed varying degrees of interest in hosting the sporting extravaganza.
With land acquisition completed and infrastructure work streamlined, India's bullet train dreams are slowly, but finally, inching closer to reality.
Paris bid leaders said almost all the city's proposed venues were already built or would be temporary facilities as the French capital on Wednesday unveiled plans to host the 2024 Summer Olympics.
IOC president Jacques Rogge promised that the IOC would take any necessary action over allegations made about bidding for the 2012 Games.
In a meeting chaired by state chief secretary Atul Kumar Gupta yesterday, the ETF recommended invitation of fresh bids for setting up the power plants at Bara and Karchhna in the Allahabad district. However, this has to be ratified by the state Cabinet first to take effect. This would be the third time that the state government would invite bids for the two power plants, which have failed to take off in spite of much fanfare with which they were initially announced.
Sources said senior leaders of the party have been told to reach out to other leaders of the alliance and talks with some parties have begun.
Bach, IOC President, has been invited to visit India for a meeting with Prime Minister Modi.
