The government is planning to merge Bharat Broadband Nigam Limited (BBNL) with the loss-making state-run telecom operator Bharat Sanchar Nigam Limited (BSNL) this month, a senior official has said. BSNL chairman and managing director PK Purwar at a recent event organised by the All India Graduate Engineers and Telecom officers Association (AIGETOA) said that the government is giving the telecom firm an opportunity for a turnaround. "The government has taken a policy decision that BBNL is going to be merged into BSNL. "This means all work of BBNL at the pan-India level is going to come to BSNL," Purwar said at the All India Conference of AIGETOA on March 13.
Parks would cut transport cost by 10% for industries, allow freight movement on larger trucks and rail.
It is likely to be priced between Rs 8 and Rs 12 lakh
The government on Monday signed the share purchase agreement with Tata Sons for the sale of national carrier Air India for Rs 18,000 crore. Earlier this month, the government had accepted an offer by Talace Pvt Ltd, a unit of the holding company of the salt-to-software conglomerate, to pay Rs 2,700 crore cash and take over Rs 15,300 crore of the airline's debt. Following that, on October 11 a Letter of Intenet (LoI) was issued to the Tata Group confirming the government's willingness to sell its 100 per cent stake in the airline.
Market observers also said the approvals depended a lot on the funds themselves, and the extent to which they followed the new norms introduced last year.
The government is likely to allow FDI in high speed trains and other projects.
Tata Sons has emerged as the top bidder for the takeover of debt-laden State-run airline Air India but the bid is yet to be approved by a group of ministers headed by Home Minister Amit Shah, sources said.
The NIA had then said that Ramalingam was killed as he had "opposed the Dawah work of leaders of Popular Front of India who were converting Hindus into Islam."
"Financial bids for Air India disinvestment received by Transaction Adviser. Process now moves to concluding stage," DIPAM Secretary Tuhin Kanta Pandey tweeted.
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
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While private equity giant Blackstone and Pune-based realtor Panchshil Realty had offered Rs 800 crore for the building at Nariman Point, the building's owners -- Viveck Goenka, chairman and managing director of the Indian Express Group, and private equity firm ICICI Venture (which has 49 per cent stake in the property) -- expected the sale to fetch Rs 900 crore, said the executive.
With increase in range and payload capability, Madhavan said the new variant will be much superior than Tejas Mark-IA, 73 of which are being procured by the Indian Air Force from the HAL under a Rs 48,000 crore deal that was approved by the government on January 13.
'A slum free Mumbai cannot happen with Dharavi at the centre of the city.'
A banned pro-Khalistan organisation has made threat calls to hundreds of people, including journalists, ahead of a crucial three-day G-20 meeting to be held in Uttarakhand's Ramnagar with an aim to "internationalise" the issue, officials said.
'Terrorists who are active in Poonch and Rajouri are not relying on random locals for logistics, guidance etc.' 'They are being supported by a selected few who are being vetted, cleared and directed from across the LoC.'
The government denied granting permission to serve liquor at wedding halls, even as the opposition parties slammed the ruling Dravida Munnetra Kazhagam's move to dilute the total prohibition policy.
The ministry of road transport and highways on Monday launched a modified e-rickshaw based on the new rules notified through amendments in the Motor Vehicles Act.
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
Telangana chief minister K Chandrasekhar Rao on Wednesday announced the establishment of a massive industrial park dedicated to pharmaceutical manufacturing activities.
With the Union government clearing the way for foreign direct investment (FDI) in the railways, the Railway Board is devising a plan for operations, maintenance and construction projects.
26 out of 80 operational projects are in no position to service debt.
While the government is working on final contours for a strategic divestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas destinations.
It was during his tenure that Air India made its first operating profit of Rs 105 crore in FY17 since the merger of Indian Airlines and Air India in 2007.
The proposal, in preliminary stages, is likely to be finalised within a couple of months.
Infrastructure Investment Trusts need to be listed on stock exchanges besides being subject to stringent disclosure norms including detailed provisions for related party transactions and valuation of assets.
This year will be the one when GenAI becomes a part of the daily lives of people around the world.
In 2009, the UPA government, had announced a slew of measures to boost liquidity in NBFCs. These included a scheme for providing liquidity support to NBFCs having assets size of over Rs 100 crore through a SPV.
The bullet train is expected to cover 508 km between Mumbai and Ahmedabad in about two hours.
One person died and two others were hospitalised on Monday after they inhaled toxic vapours while cleaning a reactor used for chemical processes at a factory located in an industrial area in suburban Ghatkopar, a fire brigade official said.
Indian firms, including Tata Steel, in the past have formed SPVs to acquire foreign companies to protect local operations and also to avoid legal hindrances. The SPV may be registered in a tax-haven country, like Mauritius or Bahamas, the sources said. The move to float an SPV will help Bharti Airtel to continue being listed on Indian stock exchanges, while MTN's promoters will be given a stake in the SPV.
The Enforcement Directorate, on Friday, issued a show-cause notice to actor Shah Rukh Khan, his wife Gauri, actor-friend Juhi Chawla and others for alleged loss of Rs 73.6 crore foreign exchange in a FEMA case related to the Indian Premier League.
Smart City Mission has unleashed an unprecedented enthusiasm and expectations both within and outside the country.
The money was being transported from Punjab to South Kashmir.
Virtually addressing employees of Air India across the globe, he said for the airline to be the best again there will be an organisational redesign, and it will "require a huge transformation, probably the largest transformation and the change all of you would ever go through". The carrier will expand its "outreach both domestically and internationally" and it has the desire to connect India with every part of the globe, he added.
Gadkari said the NHAI was working on setting up an InvIT to monetise its projects for mobilising resources through capital markets.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
Sebi also allowed foreign investors to own up to 15 per cent stake in domestic stock and commodity exchanges
The railways heritage lines that are part of the UNESCO-accorded sites list include Darjeeling Himalayan Railway, Nilgiri Mountain Railway, and Kalka Shimla Railway.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
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