'Fiscal purists would quarrel with the idea of selling assets to pay for current expenditure -- such as the payout to farmers and the health insurance programme -- for the obvious reason that the process cannot go on forever.' 'At some point, the list of assets available for sale will run out,' notes T N Ninan.consultations -- something already aired in connection with the lease of airports to the Adani group, says T N Ninan.
The US acquisition comes barely three days after Essar Global announced its acquisition Canadian firm Algoma Steel for $1.58 billion (Rs 6,900 crore).
Tyre major Dunlop India's main plant at Shahgunj near Kolkata would be re-opened on October 31, West Bengal Chief Minister Buddhadeb Bhattacharjee said on Monday.
The committee said the move 'clearly undervalued the company and its long-term growth prospects'.
Essar group on Friday said it will invest Rs 10,500 crore (Rs 105 billion) in a special economic zone at Hazira and augment the steel manufacturing capacity to nine million tonnes, besides expanding the Vadinar refinery.
The race for India's fourth largest mobile phone company Hutch Essar Ltd intensified on Wednesday with the arrival of Vodafone CEO Arun Sarin in India.
Power Grid Corp of India Ltd is set to form joint ventures with five more companies, including Oil and Natural Gas Corporation and Essar, for setting up transmission lines in the country entailing a total investment of Rs 5,000 crore (Rs 50 billion).
The new management of Dunlop India Ltd headed by P K Ruia has urged the West Bengal Industrial Reconstruction Department to grant it the status of a 'relief undertaking' so that creditors were not able to move court against it. \n
Vodafone which has won the bid for majority stake in Hutch-Essar, is likely to resume discussions with Indian partner Essar on issues like management and share structure within the next week or 10 days.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
Ambani to up ante by $3 bn on Ruia's hint at larger premium.
The court said a 'scam was created when there was none'.
After nearly five years of uncertainty Dunlop India's plant at Ambattur near Chennai would re-open on Sunday with 1000 workers scheduled to join work under a new management headed by Pawan Kumar Ruia
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
After a long gap of more than 55 months, the Sahagunj factory of Dunlop India Limited in West Bengal re-opened on Friday for maintenance work to pave the way for operations to begin from August this year.
How many 22 year olds gets the ears and eyes of Yogi Deveshwar, Kumarmangalam Birla, Shashi Ruia, T V Narendran and Naveen Patnaik?
The calculation excludes cross-holding of listed group cos in each other.
The stand-off between the Pawan Kumar Ruia led management of ailing Dunlop India and workers' union remained unresolved on Saturday, but the new management expressed confidence that all pending issues would be sorted out soon paving the way for re-op
In a major acquisition in the telecom sector, the Ruia-controlled Essar Group on Wednesday bought a controlling stake in BPL Communications for a consideration of over Rs 4,400 crore (Rs 44 billion).
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
Kulbhushan Jadhav's friends, who have known him since childhood, recall a man tough on the outside but full of compassion inside.
Troubles grew for the beleaguered former Supreme Court judge Justice Asok Ganguly with a non-governmental organisation on Wednesday moving the police seeking action against him in the alleged sexual harassment of a law intern even as he denied reports of fresh allegations that have appeared in the media.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
'By not only decriminalising routine business failures, but by ensuring that institutional lending and corporate rescue frameworks are strengthened via the IBC, the prime minister has ensured there is no room anymore for the proverbial 'reckless, prodigal debtor',' notes Sanju Verma.
Consolidating its position in the Hutchison-Essar telecom venture, Ruias' Essar Teleholding have increased their stake to 30.42 per cent in the JV by buying out 3.43 per cent stake held by a Hutch's subsidiary Usha Martin Telemetics for Rs 267 crore
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