Adani group is in talks to acquire a 50.5 per cent stake held by GVK Group in Mumbai International Airport (MIAL) and another 23.5 per cent of minority partners, Airports Company South Africa (ACSA), and Bidvest Group, two sources with knowledge of the matter said.
The Delhi high court on Friday declined Future Group's plea for stay on an arbitration tribunal order refusing to interfere with the Emergency Award (EA) which restrained it from going ahead with the Rs 24,731 crore merger deal with Reliance Retail. Justice Suresh Kumar Kait sought response from US-based e-commerce giant Amazon which had challenged the merger before the Singapore arbitration tribunal under SIAC, and listed the appeals by Future Coupons Pvt Ltd (FCPL) and Future Retail Ltd (FRL) for further hearing on January 4. Senior counsel Harish Salve, appearing for FRL, urged the court to pass an interim order clarifying that an earlier order passed by the Supreme Court - which stayed all proceedings in relation to the enforcement of the EA - would remain in force despite the subsequent order passed by the duly constituted arbitration tribunal.
'Those who worked with him or came to know him rated him as one of our best, with a sharp intellect, unfailing courtesy and ready wit.' Ambassador T P Sreenivasan fondly remembers Ambassador B S Prakash, wonderful human being, unusual diplomat and long-time Rediff.com columnist, who passed away into the ages on Monday, October 4, 2021.
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
Why did Pakistan sign a cease-fire without acquiring Kashmir, which was the sole purpose of the 1965 War, asks Ahmad Faruqui.
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.
Here is a glimpse into US soldiers' life battling against IS.
The company agrees to discussions for long-product division with Swiss group Klesch.
The IMD has also issued a red-coded warning alert to the Odisha and West Bengal coasts.
WiMax Forum, the representative body of WiMax operators, alleged that BSNL had deployed its WiMax services on the frequency division duplex-based spectrum band, which does not conform to international standards for WiMax technology. The forum also sought easier rollout obligations for the successful bidders of BWA spectrum.
The Thar Express has been running between Jodhpur and Karachi since services resumed on February 18, 2006 after a 41-year suspension.
The army has long been deficient in artillery, the modern battlefield's most lethal killer, says Ajai Shukla.
Jeswin Aldrin, who had already qualified for the championships, however missed the cut.
Future Retail Ltd (FRL) on Monday said the Delhi high court has ruled that statutory authorities cannot be restrained from acting in accordance with law and stayed a previous order on status quo of its Rs 24,713 crore deal with Reliance. Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice D N Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2. "...inter alia, for the prima facie reason that the company is not a party to the Shareholders Agreement dated August 22, 2019 executed between Amazon, Future Coupons Private Limited and the Promoters of FRL, under which arbitration was initiated by Amazon in Singapore," FRL said.
At least eight cars were trapped when the 950-ton (tonne) bridge suddenly gave way.
E-commerce major Amazon has written to Sebi yet again, apprising the market regulator of the formation of the arbitration tribunal at SIAC while urging it to suspend the review of the Rs 24,713 crore Future-RIL deal. It has also filed an appeal with the division bench of the Delhi high court against the December 21 order of the single member bench, according to sources.
Besides engine-wash of the flag-carrier's aircraft, the facility, to be set up at the Mumbai International airport, would undertake work from third parties, the company said.
The Adanis', which already has won the bids to run six Airport Authority-built non-metro airports in Lucknow, Jaipur, Guwahati, Ahmedabad, Thiruvananthapuram and Mangalore, bid to enter the country's second busiest airport by buying out Bid Services Division Mauritius from MIAL was stalled after GVK chose to exercise its first right of refusal, and matched the Rs 1,248-crore offer that the Adanis made to the Bidvest in March.
AASU, Cong MP Jairam Ramesh, TMC MP Mahua Moitra, and several NGOs have filed petitions against the act that was assented to by the President yesterday.
December 3, 2021 marks 50 years since the beginning of the 1971 War which ended in a decisive military victory for India and the liberation of Bangladesh. Most analysts of the 1971 War agree that the IV Corps dash across the mighty Meghna river led by the brilliant General Sagat Singh was the turning point in the war, recalls military historian Colonel Anil A Athale (retd).
'From the very start, PM Modi was insistent that visiting foreign leaders should be exposed to an India beyond its capital.' 'Through these experiences, he felt that the full Indian narrative would be much better understood across the world,' explains External Affairs Minister S Jaishankar. A riveting excerpt from Bluekraft Digital Foundation's Modi@20: Dreams Meet Delivery.
Russia and China have a broad consensus today on almost all core issues related to global strategic stability, which is unprecedented in modern history, observes Ambassador M K Bhadrakumar.
'All the government needs to do is to identify clear political and strategic objectives and to give the military planners a free hand,' asserts Ajai Shukla.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
As India's international role expands, so must our capabilities, says Brigadier Gurmeet Kanwal (retd).
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
In its new avatar as the Department for Promotion of Industry and Internal Trade (DPIIT), it will directly be responsible for 'the welfare of traders and their employees'.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
Organisers hope the anxious buildup will be forgotten when the action begins.
Did Vinod Sehgal die in Tsangdgar or was he taken PoW to Tibet or China? Why has the IAF kept so quiet for all these years, asks Claude Arpi.
News of all that's transpired on and off the football field
In a letter to the Prime Minister, the Women of Big Bazaar SOS group said: "Future Retail and Reliance had entered into an arrangement through which Future's retail stores will continue to be operated by Reliance. Reliance has also committed to clear all debts and dues owed by Future Retail to suppliers and vendors."
US auto major Ford Motor Co on Friday said it and India's Mahindra & Mahindra have decided to scrap their previously announced automotive joint venture and it will continue its independent operations in India as it is. The two companies determined that they will not complete a previously announced automotive joint venture between their respective companies. The decision follows the passing of the December 31, 2020 'longstop' or expiration date of a definitive agreement the organisations entered into in October 2019, Ford Motor Company said in a statement.
The manpower requirement will be met with the officers from FMC (both cadre and deputation) and by new hiring.
'When the Indian Army carries out anti-infiltration ops, the Pakistan army willy-nilly will get involved in some way. So, it is imperative for the Pakistan army to act against militant groups.'
It is often alleged that half the Indian Army is based in J&K. It is bewildering why there has been no rebuttal or clarification of this issue from the central or state governments, or from the army itself, wonders Ajai Shukla.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
The Global Mobile Suppliers Association on Monday rejected Telcom Regulatory Authority of India's proposal to allocate frequencies in the controversial US PCS band (1850-1910 MHz paired with 1930-1990 MHz) to the existing Code-Division Multiple Acces
