The claim was filed on Friday before an Arbitration Court in Singapore and a final order in the matter is likely to come out by end of March next year.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
GMR Infrastructure, the company which won the contract to modernise the Delhi and Hyderabad airports, is planning to come out with an IPO next week.
Over a dozen private players, including Anil Ambani-promoted Reliance Energy Ltd (REL), real estate giant DLF and infrastructure majors GMR and L&T, are understood to have bid for modernisation of Udaipur airport.Other bidders in race for the project include Soma Constructions, L&T and Gammon India, besides Dubai-based ETA, the sources added.
Mihir Tanna, Associate Director, S K Patodia & Associates, a chartered accountants firm that offers consultancy, audit and tax services, will answer your queries.
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
The Rajiv Gandhi International Airport, which is being developed by GMR on the outskirts of Hyderabad, will be the first greenfield public-private partnership (PPP) airport to be operational in March 16.
Bhogapuram international airport, Ramayapatnam and Bandar ports, the Muktyala lift irrigation scheme and a bridge across the Krishna river are some of the projects likely to be hit.
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
On July 31, one of the five shortlisted companies, IRB Infrastructure, had said it would not bid for MTHL.
Oil and Natural Gas Corporation, Hindalco Industries, Tata Steel and Vedanta were down up to 70 per cent below their one-year highs.
The government has a two-pronged strategy for e-auction of cancelled coal blocks.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
So far this year, there have been 76 private equity investments in India
Currently, the investor and his family's net worth in listed firms stands at Rs 8,517 crore, compared to Rs 8,388 crore as of March 31, 2020.
'This kind of a last minute order creates immense problems for airlines.'
Samridhi Bhardwaj analyses the dynamics of duty-free liquor allowance in India.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
The month also saw Adani Power acquiring the 600-Mw Korba West thermal power plant from the Gautam Thapar-led Avantha group for Rs 4,200 crore (Rs 42 billion).
Indian Railway Catering and Tourism Corporation (IRCTC) and Bharat Heavy Electricals (BHEL) are in talks for a partnership to run private trains. According to officials in the know, the two public sector undertakings (PSUs) are planning to form a special purpose vehicle (SPV) to run passenger trains on routes for which IRCTC has put in bids. "BHEL will be putting in the money required for private rail service, while IRCTC is going to focus on operational requirements," an official said. "IRCTC's business model has not been capital expenditure-focussed. It has built only operational enhancements," he added. Bids for public private partnerships (PPPs) in passenger train operations were opened last month.
Housing sector to benefit from Budget.
GMR, Tata, Jindal will set up hydro projects in Nepal, sell power to India.
With its new hybrid annuity model, the government is confident of getting more funds from India Inc.
Dr Reddy's Laboratories is in a pact with Russian Direct Investment Fund to sell the first 125 million people doses (250 million vials) of Sputnik V in India.
The minister tells Subhomoy Bhattacharjee that he wants to set up a financing corporation for the road and shipping sectors, which will throw up a business opportunity of Rs 25 lakh crore!
The QIP route was a big hit.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A sluggish economy and stalled bureaucratic decision-making for the past two years thwarted capital investment and dented earnings, making it tough for the companies to raise funds.
A ministry spokesperson said he wasn't aware of the development.
From Kudankulam to the Land Bill, the author takes the Twitter route to capture the infra action of 2013.
Analysts attribute this outperformance to the government's proactive economic reform measures
Two years after it handed over the Male International Airport's operations to Indian infrastructure major GMR, the Maldives' state-run MACL was back at the helm on Saturday.
The past appears to have interrupted the future of the New Delhi Railway Station (NDLS). With two protected heritage buildings sitting in the way of the plan to redevelop the railway station, officials in the know say the project may end up back on the drawing board since the National Monuments Authority (NMA), the body tasked with the protection and preservation of monuments and sites, is yet to give its approval. "A nod from NMA is awaited before going into the next phase of bids for the redevelopment of the New Delhi Railway Station," a senior official of the Ministry of Railways told Business Standard. While the Railways ministry is hopeful of getting approvals from the NMA before the end of the current financial year, there is no clarity on this yet.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
If the government is asking a maximum price for Air India but asks to keep old personnel, it will not match.
Sensex firm on favourable GDP numbers for FY16.
The latest to join the list of projects that have achieved financial closure are two power projects -- 1,050 Mw GMR Kamalanga Energy of GMR Energy coming up at Dhenkanal in Orissa and the second phase 300 Mw Rosa power project in Uttar Pradesh promoted by Reliance Power. Experts said financial closure for another Rs 100,000 crore worth of projects are likely to be achieved in this calendar year, mainly from the power and infrastructure sector.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Adani said he expected the number of flyers in the country to grow five-fold, which means India would require 200 additional airports to handle over 1 billion domestic and international passengers across the tier-1, -2 and -3 cities.
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