In-principle approval for strategic sale of 28 CPSEs, says Anurag Thakur
With more than seven months of this fiscal already over, the Centre is looking at some big-ticket strategic disinvestment of CPSEs, including Bharat Petroleum Corporation (BPCL), to achieve the massive FY20 disinvestment reve
Valuation mismatch: Earnings remain grounded, markets continue to soar
Among the most worrying data relates to the contraction in railway freight by 11% year-on-year in October for the fourth straight month; wholesale volumes for commercial vehicles fell 23% y-o-y, with M&HV sales falling 50% y-
Economy slowing, top jobs at Finance ministry and RBI vacant
While technically, the work in a department goes on even when it doesn’t have a full-time head, and it’s not unusual for the government to entrust key officials with additional responsibilities temporarily, urgent filling
Jet Airways insolvency: NCLT directs Synergy to present resolution plan by Dec 3
The two-member bench of the Mumbai NCLT also directed that the ministry of civil aviation and Directorate General of Civil Aviation (DGCA) be made parties to the ongoing resolution proceedings and provide clarity on Jet's slo
Tax reforms: Govt must boost woefully short buoyancy, says Finance commission chairman
The buoyancy, which typically refers to the ratio of tax growth to nominal GDP growth, has been steadily declining from a high of 1.6 in FY16. However, Singh said that recent measures taken by the finance ministry would have
Focus on risk pooling to provide healthcare: NITI Aayog to govt
The report recommended that all healthcare schemes should be brought initially under a common co-ordination arrangement managed by the government, including PM-JAY and NHM.
Supreme Court stays SAT order that quashed Sebi ban on Price Waterhouse
Senior counsel Mukul Rohtagi, appearing for the auditing firm, argued that the firm is being punished for wrongdoings of the two partners. “We have already suffered, how many time will we be killed,” he said, adding that
Bina Modi takes over as chairperson of Modi Enterprises
Bina served as board member of Godfrey Phillips India and is also on the CSR committee of the company. Her commitment to social responsibility and her personal zeal drive the CSR programmes with a focus and with the underpinn
Urban Ladder’s FY19 net profit at Rs 49.40 crore
The company had posted losses of over Rs 100 crore in FY18. Revenue from operations jumped 209% to Rs 298.17 crore in FY19. Total expenses stood at Rs 382 crore during the period, the data showed.
NCLAT asks promoters of Sterling Biotech to pay Rs 3,100 crore in a month
The three-member NCLAT bench, headed by chairperson Justice SJ Mukhopadhaya, said: “In case the amount does not come within 30 days from the date of the order, the company will go for liquidation.” In that event, the appe
Bharti Airtel, Vodafone to hike tariffs from December 1
The average revenue per user per month has declined from Rs 174 in FY15 to Rs 113 in FY19. A subscriber on an average uses 10 GB of data and 700 minutes of mobile talk time per month.
Advent International to buy majority stake in Bharat Serums and Vaccines
BSV researches, develops, manufactures and markets specialised injectable medicines with a portfolio focused on biotech and biological products. The company has multiple niche products that are leading brands across women’s
ICRA downgrades Bajaj Electricals’ debt instruments
Rating agency ICRA has downgraded various debt instruments of Bajaj Electricals, amounting to Rs 5,592.50 crore. According to the rating agency, the revision in the ratings takes into account the significant decline in profit
NewQuest Capital Partners raises $1 billion for its 4th fund
The investors in the fund include endowment funds, pension funds, sovereign funds, insurers, financial institutions and family offices across Asia, North America, Europe and the West Asia.
Patanjali revenue rises 2% to Rs 8,329 crore in FY19
In an interview to FE earlier this year, managing director Acharya Balkrishna told lack of proper planning and strategy at Patanjali impacted the firm's growth. The company, further, took a hit on sales after competitors laun
Stressed assets: Banks may take cos to NCLT to avoid additional provisioning
In addition to 180 days, the RBI has allowed for a grace period of one month to find resolution to these assets or refer them to the NCLT. Banks have an exposure of nearly Rs 3.8 lakh crore to 70 stressed assets, where the re
Winter session: IBC, BRA Bills top economic agenda
The Insolvency and Bankruptcy Code (IBC) Amendments Bill will seek to raise the number of home-buyers who can invoke insolvency proceedings against realty developer and also introduce individual insolvency and cross-border in
Anil Ambani steps down as Reliance Communications director
The company during the quarter, like Vodafone Idea and Bharti Airtel, provided for liabilities on account of spectrum usage charges and licence fee to the tune of Rs 28,314 crore. This follows the October 24 ruling by the Sup
Panama Papers | The story of how Indian journalists investigated one of biggest data leaks
Among the rare ‘false positives’ in the leaked data, the most dramatic was of the Ratan Tata who was not. In November 2015, Jay found at least a dozen documents in the leaked data that named Ratan Tata as the president, d
GST simplification: Govt ready to consider suggestions on tax filing
The new simplified return formats will be implemented from April 1, 2020. The taxpayers can upload their invoices while the system prepares a return for them under the new system
World Bank to invest $300 million for Bengal’s logistics infra development
The cumulative investments of these projects would run up to Rs 5,000 crore. Most of these projects are likely to come up by 2020 end, Mitra said, adding that Reliance and Future groups have already made a strong foot print i
FM Nirmala Sitharaman on reforms: Difficulty is not taking a call but in moving forward
For instance, if input costs are high, whether it’s electricity, whether you want to buy a piece of land to set up your whole thing, mutation, everything has got a long way to go in terms of becoming easy to do business.
A phone as a car key? NXP’s automotive chip turns a mobile into a car key
These standardisation efforts aim to enable a global standard for hands-free smart access and other automotive localisation use cases based on UWB.
Essar Steel case: Bankers win, ArcelorMittal to take over sick steelmaker
The court said the committee of creditors (CoC) would have the last word in deciding on how the bid amount was to be distributed between various classes of lenders, noting that bankruptcy courts had no say.
RBI as regulator to kick-start DHFL-like insolvency process
The exigency of having a resolution process under IBC for non-banking finance companies and other major FSPs have come to the fore after DHFL and Punjab and Maharashtra Co-operative (PMC) Bank landing in trouble.
PMC effect! Govt to change law to bolster regulation of cooperatives
On the response to the Rs 25,000-crore housing fund (to start with) to bail out stuck projects, the minister said four of them in three cities — Mumbai, Hyderabad and Bengaluru — have approached the government to avail of
Vodafone Idea silent on dues, hopes to get govt bailout
Elaborating on the discussions VIL has had with the government, so far, VIL’s MD & CEO Ravinder Takkar said the company would like to see a moratorium over spectrum payments, reduction licence fees to help in the areas of G
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