Vodafone Idea's (Vi's) search for a lifeline has turned longer and tougher even as it continues to lose customers and delay vendor payments. Vi's much-needed Rs 1,600-crore fundraising plan got stuck due to the government's silence on picking up a proposed 33 per cent equity in the financially stressed telco. The development spells further trouble for the company, which has an overall debt pile of Rs 2.2 trillion, including hefty dues to the government.
Flipkart has not been able to process with its plans of getting into the grocery vertical and is stuck on running pilots in select cities.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said it has decided to exit its investment in Myanmar by June next year. APSEZ, the largest port developer in India, is part of the globally diversified Adani Group. "The Board has decided to actively work on a plan on exiting Company's investment in Myanmar including divestment opportunities (expected to be concluded by March - June 2022)," APSEZ said in notes to its second quarter results.
A guilty verdict could impact Google's growth in India
The issue had come up during a presentation by the Civil Aviation Ministry.
Civil Aviation Ministry has a few ready answers at hand.
Ajay Singh would infuse Rs 1,500 cr in SpiceJet.
The case may drag for a few years, experts say, as CAIT and DVM have said they will appeal against the interim relief granted to Amazon.
How could India@75 improve law and order, courts, social, physical and soft infrastructure, efficient cities, e-governance, ease of doing business and other essential state functions by 2022, asks Shailesh Pathak.
This is being done keeping in mind the urgency of these transactions, and it would help the ongoing insolvency cases, including the 12 accounts referred by RBI to banks.
China remains a "formidable challenge" that has increased its presence not only along India's land borders but also in the maritime domain, Navy Chief Admiral R Hari Kumar said on Tuesday and asserted that the naval force keeps a regular watch in the Indian Ocean Region.
The group is looking into a new role for Ranbaxy CEO and MD Arun Sawhney.
"Our objectives are to create a significant growth generating employment and make India a global manufacturing hub by 2015. We aim to build a competitive Indian manufacturing industry and promote recognition of the Made in India Brand."
The Supreme Court Tuesday set aside three Delhi high court orders including the refusal to grant a stay on the final arbitral award which had restrained Future Retail Ltd from going ahead with its Rs 24,731 crore merger deal with Reliance Retail and ordered fresh adjudication. In a major relief to Future group, a bench headed by Chief Justice N V Ramana also set aside the high court's order of February 2 last year, by which it had directed Future Retail Ltd (FRL) to maintain status quo in relation to the merger deal. The March 18 order of the high court, upholding the EA's award and imposing a cost of Rs 20 lakh on it as well as its directors, has also been set aside.
Comment by SoftBank board member sets off talk of Ola-Uber merger.
Before buying Marans' stake, Singh's shareholding stood at 1.85%.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
Predatory pricing petitions against Ola, Uber were filed from across cities.
Now BSNL customers will be able to make calls using the company's mobile app 'Wings' to any phone number in the country.
When Open Network for Digital Commerce (ONDC) was conceived last December, the idea was to reduce the dominance of e-commerce giants like Amazon and Flipkart. It was also to bring in a level-playing field for small merchants in India's fragmented but fast-growing $1-trillion retail market. However, those goals have changed now as large e-commerce players such as Flipkart, Amazon and Ecom Express are in various levels of talks with the ONDC team. They want to form partnerships like integrating with the network as well as providing their expertise to build it, according to the industry sources.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
Sanjeev Nayyar offers a roster of things to do to see the India of our dreams.
Shah said that the people of the country will decide about the principal opposition party to BJP in the 2024 polls and they have not given this label to any party.
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
Palanivel Thiaga Rajan was on the hit-list, not because the chief minister was unhappy with his performance, but because there were constant complaints from other ministers that he was sitting on their files far too long, observes N Sathiya Moorthy.
Manish Sabharwal is chairman of TeamLease, which has helped hire 1.4 million sales and customer service reps and logistics employees such as couriers for companies across India since it was founded in 2002.
Second-tier Formula One teams Sauber and Force India lodged official complaints with the EU's competition regulator, alleging that the sport's governing body mismanages prize money.
Lobby group tells USTR it has got assurance from India on compulsory licensing.
Singh holds more than 36.15 crore shares.
At Birmingham, Avinash Sable became the first non-Kenyan to win a medal since 1994 at the Commonwealth Games.
Fair trade watchdog CCI has approved Microsoft's proposed $7.2 billion acquisition of Nokia's mobile devices business, citing that the deal would not have adverse impact on competition in the Indian market.
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.
The pipeline for well-qualified and experienced policy economists at senior levels of government has broken, leading to a growing dearth of suitable candidates for top economist positions.
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
Ever since the deal was announced of Walmart spending over $16 bn for a 77 per cent stake in Flipkart, the road to the takeover of India's biggest online marketplace has been quite bumpy
In a setback to DLF, the competition Appellate Tribunal on Monday upheld the CCI order imposing Rs 630 crore penalty on the realty major for unfair business practices.
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
Ratnakar Bank to absorb RBS' employees involved in three businesses
