Both sides have now revealed a preference for escalation over strategic defeat, and each new provocation narrows the space for the next pause. The Touska seizure, Iran's refusal to negotiate under blockade, Israel's strikes on Iranian oil infrastructure -- all of these add up to an increasingly untenable situation. This makes the wild card -- Trump and his motormouth -- more consequential than ever, notes Prem Panicker in his must read blog on the Iran War.
The Union government on Wednesday constituted a Board for Reconstruction of Public Sector Enterprises.\n\n\n\n
He alleged that the public enterprises department headed by Heavy Industries and Public Enterprises Minister Sontosh Mohan Dev has been "pursuing a much narrower agenda, in which governance reform of PSUs does not figure
Once the iconic red-brick building of British India Corporation (BICL), which manufactured the popular "Lal-Imli" brand of woollen products, made Cawnpore (now Kanpur) the Manchester of the East. In the 75th year of independence, the government may finally pull the curtains on the century-old, now defunct public sector enterprise. "The Department of Public Enterprises (DPE) has floated a draft cabinet note for closure of British India Corporation (BICL) along with National Textiles Corporation (NTC). "The Cabinet may soon tak
Contrary to the general impression, the revival of under performing public sector companies is not a costly exercise with Board of Reconstruction of Public Enterprises coming out with recommendations.
The Board for Reconstruction of Public Sector Enterprises wants to examine the grave financial problems of Air India, but neither the Civil Aviation Ministry nor the national carrier has responded to the BRPSE offer.
Four left parties on Wednesday asked the government to stop divestment of 35 public sector undertakings including BHEL, PowerGrid Corporation and Power Finance Corporation saying the move would adversely affect the development of PSUs and would also
The National Company Law Tribunal (NCLT) has reserved its order on the merger of Zee Entertainment Enterprises and with Culver Max Entertainment (earlier known as Sony Pictures Networks India). The Mumbai bench of NCLT, comprising H V Subba Rao and Madhu Sinha, reserved the order on Monday, after hearing arguments from creditors who objected to the scheme including Axis Finance, JC Flower Asset Reconstruction Co, IDBI Bank, Imax Corp and IDBI Trusteeship. In December 2021, Zee Entertainment and Sony Pictures had agreed to merge their businesses.
The Board for Industrial and Financial Reconstruction has constituted an assets sale committee for selling off Cement Corporation of India as a whole or in parts after declaring it sick, Rajya Sabha was informed on Monday.
The National Company Law Tribunal (NCLT) on Thursday allowed the merger of Zee Entertainment Enterprises Ltd and Culver Max Entertainment (earlier known as Sony Pictures Networks India). This order by the Mumbai bench, headed by H V Subba Rao and Madhu Sinha, will pave the way for the creation of a $10-billion media company, the biggest in the country. The tribunal also dismissed all objections regarding the merger.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
Pulbic banks have no reason to cheer Budget announcement.
"Based on the recommendations of the Board for Reconstruction of Public Sector Enterprises, the government has approved revival of 36 CPSEs at a total cost of Rs 15,254 crore, including fresh cash infusion of Rs 2,921 crore."
After the government shelved plan to sell out its entire stake in SIL, the Department of Heavy Industry had proposed a revival package of more than Rs 200 crore for revival of the company.
Land resources belonging to ailing companies being pitched to pvt players for new initiatives.
The government is working on a plan to nurse sick public sector units back to health before any disinvestment takes place in these companies, chairman of the PSUs revamp board Nitish Sengupta has said.
Lack of decisiveness and courage to deal with PSBs may turn out be the biggest impediment to the Modi government's economic initiatives, says Debashis Basu.
BRPSE's new chairman Nitish Sengupta has suggested that at least three ailing companies, which have been referred to the board, hive off some of their land and get into real estate development to become profitable again.
The World Bank has approved loans totalling $1.75 billion (about Rs 13,834.54 crore) to fund India's PM Ayushman Bharat scheme and private investment to boost the economic growth. Of the total loan, $1 billion will go towards the health sector, while the rest $750 million will be in the form of development policy loan (DPL) to fill the financing gaps through private sector investment in the economy. The World Bank Board of Executive Directors approved two complementary loans of $500 million each to support and enhance India's health sector.
Coal India, which is likely to hit the capital markets in October, "will be in the list of Fortune 500 the day it is listed on the stock exchange," the head of a government panel on public sector units said on Monday.
"This money will be used for the revival and modernisation of the PSUs," BRPSE Chairman Nitish Sengupta said. He said instead of providing budgetary support, the option of land sale could be considered for the revival of units in some cases. Elgin Mills in Kanpur, Kolkata-based National Jute Mills, National Textiles Corporation and HMT are among those which have been permitted to sell their surplus lands.
Finance Minister P Chidambaram on Thursday made a double pitch for public sector companies. First he urged private sector companies to enter into joint venture partnership with PSUs
Even with less than four dozen in number as listed entities, the PSUs account for over 20 per cent share of the overall market capitalisation of the more than 4,000 entities at the bourses.
The Board for Reconstruction of Public Sector Enterprises will take up the case of ITI in its next meeting, on May 31.
The erstwhile divestment commission to be now be replaced by the BRPSE.
Private equity player Everstone Capital has sold Modern Foods, which it had taken over in early 2016 from Hindustan Unilever, to Mexican baking major Grupo Bimbo for an undisclosed sum.
The new Companies Bill will boost such spending by both public and private companies. Praful Patel, Union minister for heavy industries & public enterprises, speaks to Business Standard on the issue.
Manufacture will soon be stopped at Bangalore and Tumkur in Karnataka and Ranibagh in Uttarakhand.
Wrapped in blue and orange wax paper, it's a familiar sight on the shelves of kirana stores across the country. Given how well travelled and mobile it is - starting its journey in Chennai, then turning to Singapore and now landing in Mexico - you could say it lives up to its name: Modern. Modern Food Enterprises, the company that manufactures and sells the bread in question as well as other bakery products under the "Modern" brand name, has recently been sold to the world's largest baking company, Grupo Bimbo, for an undisclosed amount. This latest transaction is the second change of guard at Modern within five years and third since the government divested the company at the turn of the century. At a time, when the National Democratic Alliance government has decided to privatise, or shut down, public sector enterprises except for those deemed strategic, Modern makes for a promising case study of how divestment led to the brand's growth, both in revenue and reach.
Either the stake in these companies will be sold or they may partner private firms.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
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