It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
Given the hotel's prime location, it is obvious that there will be some serious bidders trying their luck when an auction is held in the second half of this calendar year.
Buffett had said in a CNBC interviewthat Yahoo's business had deteriorated significantly and that "something has to change there."
Central bank likely to keep tabs on large wilful defaulters; policy likely by month-end.
Telecom department says spectrum can't be used as collateral because it's government property
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
Close to 21.5 per cent of this will be sold to Japan's Nippon Life, which will then become the sole promoter of the fund house.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
The government is auctioning 42 coal mines among 204 coal blocks.
The move comes a few days after billionaire businessman Elon Musk tweeted that his Starlink internet services would be available in India as soon as it gets regulatory approvals next year. Musk's Starlink, which plans to have a constellation of 40,000 low-orbit satellites, recently started offering high-speed internet in the US as part of its beta launch phase.
Pawar said he was upset that his three sisters were dragged into this.
Once owned by underworld don Dawood Ibrahim, an eatery on the narrow Pakmodia Street in South Mumbai, a green sedan and tenancy rights to a property in suburban Matunga will on Wednesday go under the hammer in Mumbai.
What makes Indian abstract art more valuable is its relative rarity. V S Gaitonde, S H Raza and J Swaminathan are the only major names in modern Indian art known for their abstracts.
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
Energy supermajor Exxon Mobil Corp is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday showcasing efforts to raise domestic output to cut imports. Exxon Mobil had in October last year signed a memorandum of understanding (MoU) with state-owned Oil and Natural Gas Corporation (ONGC) to offer its expertise and technology for developing resources in offshore blocks.
The success of the auction may not be more than a little step in Pearls Agrotech Corp's recovery process of over a Rs 49,100 crore plus interest
Armed with court order, a consortium of lenders led by SBI can now sell certain real estate properties and securities belonging to fugitive Vijay Mallya to recover loans turned bad with failure of Kingfisher Airlines. A consortium of 11 banks that gave Mallya loans, led by State Bank of India (SBI), had approached a special Prevention of Money Laundering Act (PMLA) court seeking restoration of his properties seized by the Enforcement Directorate. The special PMLA court in Mumbai on Tuesday allowed the restoration of properties worth Rs 5,646.54 crore to banks.
Whistle-blowers allege the brothers violated court orders by selling assets like art and real estate worth crores bought by funds from their companies.
Spectrum qualifies for the infrastructure criteria, say ministry officials.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
Banks put the airline's trademarks including Kingfisher logo and the once-famous tag-line 'Fly the Good Times' on the block
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, allows banks and financial institutions to auction properties (residential and commercial) when borrowers fail to repay their loans.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
The amendments give committee of creditors of a loan defaulting company explicit authority over the distribution of proceeds in the resolution process and fixes a firm timeline of 330 days for resolving cases referred to the IBC.
The Supreme Court has asked a special court in Mumbai to assess the liabilities and assets of stockbroker Harshad Mehta, who was involved in the securities scam that rocked the country in the early nineties.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
Telecom Regulatory Authority of India, on October 15, gave its recommendation on spectrum auction for premium 900 Mhz band and 1800 Mhz band that are presently being used for 2G GSM mobile services by Airtel, Vodafone, Idea Cellular and Reliance Communications.
The finance minister's meeting with chief executives and managing directors of banks ahead of the Union Budget assumes significance in view of the critical role the banking sector plays in boosting consumer demand across sectors.
'I am new to Kings XI, so it is going to be how we come together, how the team dynamics work and take it forward.'
The city's landmark five-star Taj Mahal hotel, popularly called the Taj Mansingh after the road it's situated on, is likely to get yet another lease extension.
Experts disagree with the idea and the Reserve Bank of India (RBI), which has the sole right to print money, is not comfortable with it as well.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
The 'Artery Top 500 Works' list features the most expensive Indian works of art that have been sold so far. Their collective realised price? $367.9 million! As the demand and value of Indian artists grows internationally, we look at the record setters.
Business failures rise when growth declines. When Indian growth slowed in the last decade, defaults increased. This is the normal working of the market economy, points out Ajay Shah.
NSEL, promoted by Jignesh Shah-led Financial Technologies (India) Ltd, is facing the problem of settling Rs 5,500 crore.
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
Patel, who headed the RBI from September 2016 till his sudden resignation in December 2018, says in his book thta the government seemed to lose enthusiasm for the new bankruptcy law in the middle of the year he left the central bank. Though Patel does not name anybody in the book, the mid-2018 period he refers to is the time when Piyush Goyal held temporary charge of the finance ministry between May and August.
Maradona's inheritance process is likely to be a messy affair between his large family, with eight children from six different partners
