The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
The Indian High Commissioner to the United Kingdom, Vikram Doraiswami, who was touring Scotland this week was blocked from entering a gurdwara in the capital Glasgow by pro-Khalistan extremists.
India on Wednesday said it hopes the G-20 nations will pay heed to its call for a strong action on the issue of black money stashed in tax havens during their crucial summit in Cannes.
With domestic production of just over 140 million standard cubic meters per day meeting barely half the demand, India is importing 10 million tons of liquefied natural gas per annum and is looking at unconventional sources like shale gas.
'It is Maharashtra that started this fire.' 'Suddenly, out of nowhere, they started talking about the border dispute being sub judice and they started talking about meeting the people in Belagavi who want to break up our state.'
The dealers operating in the space have jumped nearly three times over the past two years.
Some reactions to RBI's monetary policy announced on Monday.
As the world on Sunday celebrated the inaugural International Day of Yoga, in Pakistan it remained confined to the premises of Indian High Commission in Islamabad with the staff of the mission along with other foreign diplomats in the country performing 'asanas'.
Rodrigo de Rato, Managing Director of the International Monetary Fund, on Monday congratulated Montek Singh Ahluwalia on his appointment as Deputy Chairman of India's Planning Commission.
In nearly 100 seats, the BJP stands almost no chance of winning. In 200 seats, it is a direct fight between the BJP and the Congress where the BJP has an upper hand. In 243 seats, the BJP is pitted against regional parties and it is not going to be easy. That is why 400 seats may end up as a pipe dream, states Ramesh Menon, author of Modi Demystified: The Making of a Prime Minister.
The government hopes of registering GDP growth rate ranging between 6.1-6.7 per cent in 2013-14.
The Lok Sabha was adjourned on Wednesday following uproar over fresh poverty estimates released by the Planning Commission, which pegged the poverty line at Rs 28.65 per capita daily consumption in cities. As soon as the House met, National Democratic Alliance convener Sharad Yadav and Communist Party of India leader Prabodh Panda were on their feet, demanding suspension of the Question Hour for a discussion on the latest poverty estimates of the Planning Commission.
Prime Minister Manmohan Singh has asked the Cabinet Committee on Economic Affairs to decide on a Planning Commission proposal to allocate a portion of power generated from Centrally-owned utilities for open access to large consumers.
His statement came against the backdrop of a controversy kicked off by his email to Ahluwalia.
India on Monday invited Japan to outsource business to tackle the problem arising out of high percentage of aging population.\n\n\n\n
Reasserting the fact that India could easily attain a growth rate of above 7 per cent in the next financial year, Planning Commission deputy chairman Montek Singh Ahluwalia said on Sunday India was not extensively dependent on the global economic recovery for its own growth projections.
'If the central government does not give rights to the people of Ladakh, then it won't be good for our country.'
Addressing a high level debate on 'State of the World Economy and Finance in 2012' at the United Nations General Assembly in United Nations on Thursday, Ahluwalia said the Indian economy grew at an average rate of 9 per cent in the five years prior to the financial crisis of 2008.
Domestic and international airfares are set to rise by 5 per cent beginning October as the travel agents prepare ground to recover 5 per cent commission on the base fare: Amount parted to them by airlines for booking tickets on their distribution systems from consumers.
"The rest of the world should pass a motion of thanks to India for keeping its emission at a level which actually is below the level required to achieve climate sustainability," says Montek Singh Ahluwalia, a key member of Prime Minister Manmohan Singh's economic team.
There is a heightened security presence and barricades have been erected outside the Indian High Commission in London on Wednesday due to a planned demonstration called by some British Sikh groups.
NMDC reported a strong standalone revenue at Rs 5,410 crore, rising 45 per cent year-on-year (Y-o-Y) and 35 per cent quarter-on-quarter (Q-o-q) in line with consensus. Iron ore sales at about 11.4 million tonnes (MT) grew 18.9 per cent Y-o-Y (19 per cent Q-o-Q). Realisation stood at Rs 4,679 per tonne, higher by 22 per cent Y-o-Y (12.9 per cent Q-o-Q).
'They will continue to keep pricking at places where both of us are sensitive and keep the LAC alive.'
Population growth rate would be 1.5 per cent during the period 2007-12. "The next 10 years, India will register four major changes. The economic growth will accelerate, the technology will also grow and domestic industry will experience major liberalisation," Ahluwalia said after inaugurating the 22nd Indian Engineering Congress in Udaipur.
Currently 100 per cent FDI is allowed in the sector.
India's per capita green house gas (GHG) emission in 2030 will be well below those in the developed countries in 2005, according to a report.
India is expected to record a gross domestic product (GDP) growth rate of 6 per cent this fiscal, which will improve further in the next fiscal with likely recovery in the global economy, Planning Commission Deputy Chairman Montek Singh Ahluwalia said.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
Calling for 'fundamental restructuring' to put India back on its growth trajectory, McKinsey said on Wednesday that the country will run out of capital to support economic expansion.
India's Mars orbiter craft has completed eight years in its orbit, well beyond its designed mission life of six months. Plans on a follow-on 'Mangalyaan' mission to the Red Planet, however, are yet to be firmed up.
Planning Commission Deputy Chairman Montek Singh Ahluwalia has said agriculture growth in the country cannot double without the involvement of the corporate sector.
Pakistan government should consider granting India the 'Most Favoured Nation' status to exploit the huge trade potential as free trade relations with it will enable the country to achieve higher and more equitable GDP growth, an official panel has recommended.
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
Last week, Power Secretary Pradeep Kumar Sinha said that the government is confident of adding 1,18,000 MW capacity by 2017.
Amid India slipping to 134th spot in the ease of doing business ranking of 189 nations, Planning Commission member Arun Maira on Tuesday said "merely making comparisons" is not enough to improve business conditions.
Poor predictability, credibility and effectiveness of fiscal performance have been key reasons for successive governments failing to deliver on their promises.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday pegged India's growth this financial year at 6.5-7 per cent. He added the country had taken various steps to boost investment, the results of which would be seen in six months.
'If a poor voter sees Modi's picture on ration bags, it is natural he will vote for Modi and the BJP.'
Amidst the anguish about corruption -- and, one might add, the dirty tricks unleashed against those campaigning on the issue -- people have tended to forget that the big story in India, the truly exciting story, remains rapid economic growth.
