Joint MD of the company Arun K Saha and MD of transportation network K Ramchand were arrested late evening in Mumbai under the Prevention of Money Laundering Act.
The Kerala high court on Monday dismissed petitions filed by Kerala government and others challenging the Centre's decision to lease Thiruvananthapuram international airport to Adani Enterprises.
In a bid to resurrect Air India privatisation, the government is planning to give flexibility to potential investors to decide on the humongous debt with the national carrier, a top official has said. The flexibility to potential investors on the quantum of the Rs 60,074 crore debt that they want to absorb will replace the current condition of the buyer taking over more than a third of the debt and transferring the rest to a special purpose vehicle, Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey said.
To sell off L&T IDPL, Nabha Power; transfer Hyderabad Metro to an InvIT.
The Centre has conceded most of the demands of potential buyers of Neelachal Ispat Nigam Ltd (NINL). These include lowering the lock-in period for sale of assets to one year and allowing the new buyer to undertake the amalgamation of a special purpose vehicle (SPV) into NINL. An inter-ministerial group led by Department of Investment and Public Asset Management (Dipam) secretary Tuhin Kanta Pandey and the core group of secretaries on divestment (CGD) headed by Cabinet secretary Rajiv Gauba have decided that the lock-in period can be reduced to one year from the date of completion of sale, from the earlier three years proposed by Dipam, an official in the know said.
The International Financial Services Centre Authority (IFSCA) plans to operationalise the framework for direct listing of companies at International Financial Services Centre (IFSC) exchanges by the end of the year, said Chairperson K Rajaraman. He added that the amendments would be notified within three months. Further, the GIFT City regulator is also considering the launch of separate payments system regulations - similar to that of the real time gross settlement (RTGS) for banking within a few months.
The Piramal group and Zurich Insurance have decided to jointly bid for Reliance General Insurance, a subsidiary of Reliance Capital. The groups had earlier submitted separate bids for the general insurance business of bankrupt Reliance Capital. Both Piramal and Zurich will hold 50 per cent each in the proposed special purpose vehicle (SPV).
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
'Policy-sensitive sectors will wait and watch, but policy-agnostic areas will continue based on normal consumption demand.'
On the night of July 5, the Tigers launched their first kamikaze operation. Miller took the wheels of the explosive-packed truck, smiled at everyone as he turned the ignition key and drove it slowly towards the Sri Lankan military camp. A few moments later all of Jaffna heard a thunderous explosion that brought the complex crashing down in clouds of dust. Miller had given birth to a deadly tactic that Prabhakaran would employ time and again with devastating consequences to Sri Lanka -- and India. A fascinating excerpt from M R Narayan Swamy's must read new book, The Rout Of Prabhakaran.
Out of over 70,000 personnel, 14,000 will be deployed at and around Kartavya Path for the security of the Republic Day parade, they said.
A team of NIA officials earlier this morning arrested two persons in connection with the case and were on their way back to Kolkata, when the vehicle came under attack, they said.
Those who continue to think that the 2024 election will see the BJP pursuing a more militant line are being alarmist, argues Rajeev Mantri. The BJP, Mantri believes, is not about to shoot itself in the foot. If anything, he says, the BJP may be more inclined to push a harder secularism.
A revealing excerpt from Rahul Shivshankar and Siddhartha Talya's book, Modi & India: 2024 and the Battle for Bharat.
The changes are in view of the requests received from interested bidders and the prevailing situation arising out of COVID-19.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
The Union Cabinet on Thursday approved a proposal to allow 100 per cent foreign direct investment (FDI) in public sector refiners, expanding the scope for FDI in the privatisation of Bharat Petroleum Corporation Ltd (BPCL). The approval by the Cabinet will enable the sale of the government's 52.98 per cent stake in BPCL to a foreign buyer, and, at the same time, will open the door for FDI in other public sector companies in the oil sector put up for privatisation.
According to the report, the generation projects envisaged for completion by 2018-19 need to be given priority in fuel linkage.
Construction is supposed to begin in 2017, with completion slated for 2023.
Shah said the Congress was not rooted in any ideology or principles and was sort of a "special purpose vehicle" to secure freedom.
With development of the Vadhavan port, India will break into the countries with top 10 container ports in the world.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
IMD is preparing a concept paper on narrowing its grid resolution from 22 sq km to 10 sq km.
He broke through the security barrier and drove into the aircraft maintenance area. Numerous police officers have arrived at the scene.
Drones or unmanned aircraft are being used for several purposes such as mapping, survey and commercial photography, while e-commerce giant Amazon is looking to use them for deliveries to its consumers in the US.
The two-time MLA from Sankhalim in North Goa, Sawant, who was speaker of the state assembly, is a dedicated Rashtriya Swayamsevak Sangh worker.
Nearly 40 per cent of IITians sitting for placements in 2024 are yet to receive job offers, showing a doubling of the 'unplaced' in the last three years from 19 per cent in 2021-2022 to 38 per cent in 2023-2024.
A consortium of lenders led by State Bank of India (SBI) has agreed to provide loans to Tata Group for the smooth operations of loss-making Air India. Tata Group, which won the bid to acquire the national carrier along with Air India Express and 50 per cent stake in AISATS in October last year, is expected to formally takeover the airline on Thursday. Sources said the SBI-led consortium has agreed to grant both term loans and working capital loans depending on the airline's requirements. All large lenders, including Punjab National Bank, Bank of Baroda, and Union Bank of India, are part of the consortium, they added.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
To give an impetus to 'Digital India', Prime Minister Narendra Modi had in 2015 announced the smart city mission. The primary objective of the government was to develop 100 smart cities within five years. While the first crop of smart cities was to have been ready by later this year, others were to be developed by 2022-23. But India seems to be falling behind on the timeline.
The Vedanta group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL).
The Indian Railway Station Development Corporation is now looking to modernise 90 stations across the country.
Tata Group's takeover of loss-making national carrier Air India is most likely delayed by a month till January as the completion of procedures taking longer than expected, an official said on Monday. In October, the government accepted the highest bid made by a Tata Sons company for 100 per cent equity shares of Air India and Air India Express along with its 50 per cent stake in ground-handling company AISATS -- the first privatisation in 20 years. At that time, the government had stated that it wanted to complete the transactions, which included Tatas paying Rs 2,700 crore in cash, by December end.
India's largest public sector bank State Bank of India (SBI) will support Tata group's bid for soon-to-be-privatised Air India by subscribing to Tata Sons debentures or funding the special purpose vehicle (SPV) set up by Tata Sons for the acquisition. Bankers said the credit rating of Tata group's holding company is "AAA" signifying high safety and a combination of Air India with its existing airline businesses would make it a formidable player - leading to a duopoly market with IndiGo. It would also open many business opportunities, including in the retail segment, an official said.
The Delhi government on Wednesday said the odd-even car rationing scheme will be implemented in the national capital after the Supreme Court reviews its effectiveness and issues an order.
After its unsuccessful bid to sell Air India in 2018, the government this time has decided to offload its entire stake.
Telecom Minister Ravi Shankar Prasad on Wednesday said they must offer good services to the customers if they want any help from the government.
The walk through enclosure is designed for personnel decontamination, one person at a time. It is a portable system equipped with sanitiser and soap dispenser, officials said.
This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year's failed divestment process.
Setting aside the order of the assistant commissioner of police, the judge directed the officer to grant the permission and provide necessary police protection, besides imposing reasonable conditions.
'If the government can conduct elections during such a time, I am sure they can find ways to bring peace and address the concerns of people. Everything that we had built over the years got burnt and now we are supposed to start our lives from scratch and we should also vote?'
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