Anil Ambani-controlled Reliance Capital Ltd said on Tuesday that it did not have any discussions with ICICI Bank for picking up its stake in Federal Bank.
The merged club will come into existence in June and compete in the ISL 2020-21. The two sides will, however, play separately in the current I-League and ISL seasons.
Earlier this year, the Union Cabinet gave the management of state-run companies the freedom to decide on divesting their subsidiaries. However, the very next day a meeting was held at the top level of the Government of India, for the presentation of proposals for more autonomy for state-run companies. Interestingly, no chiefs of any of these companies were invited. It is a problem that will stare the government in the face with the state-owned banks too, as talks have again begun for inviting strategic investments in these companies.
'This is not a small change, it's a BIG change. People wanted to hear the voice of their PM. They can do so now. This is a big parivartan.'
As debt piles up, Anil Ambani's ability to see the asset sale plan through will be crucial
Given the company's expansion into internet and retail, more investments including mergers and acquisitions seem highly likely.
'We have to think of the repercussions if public sector banks are privatised and if they go to foreign hands.'
HR Guru Mayank Rautela offers practical advice.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
As the merger brought to an end weeks of suspense during which there was tough negotiations, the two factions said steps would be taken to expel party chief V K Sasikala.
No date has been announced for Air India's induction into the club of more than 28 leading carriers
Runway 34 is a clumsy cocktail of Hollywood movies spiked with the Bollywood brand of God complex, sighs Sukanya Verma.
'...Rs 137 lakh crores of people's money?' 'It is not the government's money, it is people's money.'
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
With uncertainty prevailing over 'Janata Parivar' constituents contesting the Bihar assembly polls as one party, Chief Minister Nitish Kumar on Monday asked Samajwadi Party chief Mulayam Singh Yadav to convene a meeting of the merger committee to "clear the air".
Rajinikanth will announce his decision by the end of this month through a video message on his Twitter handle.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
Sources in the know said the government would initiate talks with businesses, including Tatas, shortly for divesting its stake in the national carrier.
The All India Football Federation (AIFF) president Praful Patel took a veiled dig at Goan clubs on Tuesday for not having the required "bandwidth" to continue in the revamped top tier league as they are "not investing" in football while providing excuses.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
Lack of consensus on 'how not to let Jignesh Shah get away' could become a huge embarrassment for the government.
The Board of Control for Cricket in India (BCCI) has pegged the base price for the combined IPL media rights at Rs 32,890 crore, nearly double the Rs 16,347 that Star Disney paid five years ago. Experts say that at these levels, there does not seem to be any profit-and-loss logic at play. It is more about what premium broadcasting companies are ready to spend for market share dominance. They point out that due to competition, they expect the final price to hit Rs 40,000-50,000 crore.
Kamil's elder sister Samina Vaziralli has taken on an expanded role
However police said they were investigating the reason behind his suicide.
"By next week, the government will work out the exact arrangement through which the work burden on Parrikar could be reduced," he said.
'All they need is proper leadership.'
HR Guru Mayank Rautela offers practical advice.
OPS also requested the EC to restarin Sisikala's pick Dindigul C Sreenivasan from functioning as the party treasurer
Revenues of Airtel and Idea have been hit by falling realisation and analysts said margins would be affected by higher costs.
Replying to the debate on the motion, Chief Minister Ashok Gehlot criticised the Bharatiya Janata Party, accusing it again of trying to bring down his government.
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
While media reports suggested that Tata-Singapore Airlines is looking at an all-stock merger of Jet, Tatas, in a statement said, discussions to take over Jet Airways have been preliminary and no proposal has been made
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
The time is ripe for a merger of eight fund houses indirectly owned and controlled by the central government, says N Sundaresha Subramanian.
Vodafone-Idea (Vi) has said the key hurdle it faces in raising fresh funding, despite interest from investors, is the 'pricing situation' which is also the reason why it has asked the Department of Telecommunica-tions (DoT) for another extension of the moratorium on payment of spectrum instalment by one more year. Responding to a question during an analysts' call on Friday after its quarterly results on the reason for the delay in fund-raising nine months after it was announced, CEO & MD Ravinder Takkar said: "We are in discussions with investors. There is continued interest in investing in the telecom sector in the country. "The biggest hurdle is that the overall industry is under stress because of the pricing situation." He said that once tariffs go up, it will create a significant amount of confidence.
'It's a toss-up between a fire sale of equity or merger with a strong bank,' points out Tamal Bandyopadhyay.
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