Apollo, Varde pull out of race for Altico Capital
By Bijou George and Rahul Satija Apollo Global Management LLC and Varde Partners LP are no longer considering bidding for Altico Capital India Ltd., according to people familiar with the matter, narrowing the number of suitors for the troubled shadow lender. The firms pulled out because they were unwilling to meet creditor demands to inject […]
Peninsula Land defaults on Rs 2.35 crore loan payment to SBI
NEW DELHI: Ringing in the New Year on a sour note, real estate companies are defaulting as Peninsula Land, a unit of Ashok Piramal Group, defaulted in the payment of Rs 2.35 crore on a secured term loan worth Rs 177.72 crore from the State Bank of India. The worrisome part is that the default […]
Kerala CM launches K-RERA to bring transparency in real estate sector
THIRUVANANTHAPURAM: With an aim to boost the confidence of customers and bring in more transparency in the real estate sector, Chief Minister Pinarayi Vijayan launched the Kerala Real Estate Regulatory Authority (K-RERA) here on Wednesday. “It is just because of a handful of realtors who divert from good practice and indulge in illegal ways to […]
Narendra Modi disburses Rs 12,000 crore to six crore farmers
BENGALURU: Prime Minister Narendra Modi on Thursday slammed states, which have not enrolled with the Pradhan Mantri Kisan Samman Yojana (PMKSY), saying that such petty politics has done great damage to the farming community. “I expect that in the new year, those states which are not associated with the Kisan Samman Yojana will at least […]
Rs 2 lakh crore and counting: Telecom fees mount for Indian firms
NEW DELHI:The government of India is seeking at least $30 billion in overdue telecom fees from mobile-phone service providers to energy companies and fertilizer makers as it struggles to meet its budget deficit target with economic growth foundering. Gujarat Narmada Valley Fertilizers & Chemicals Ltd. on Wednesday said the telecom ministry has ordered it to […]
Air India needs to be privatised; no expert solution to Rs 80,000 crore debt problem
NEW DELHI: The government of India has no option but to privatise Air India as it has around Rs 80,000-crore debt and needs cooperation of the employees for carrying out the privatisation process, Minister of State for Civil Aviation Hardeep Singh Puri is said to have told the airline unions on Thursday. At a meeting […]
People spent Rs 350 crore for buying Alcohol on night of December 31st in Telangana
NEW DELHI: New year eve liquor sales in Telangana netted an estimated Rs 350 crore for the State Beverages Corporation Limited, which supplies Indian Made Foreign Liquor to retail outlets and bars across the state, official sources said on Wednesday. This was more or less same as that of the sales turnover registered during the […]
GST collection at Rs 1.03 lakh crore in December
NEW DELHI: The gross GST revenue collected in the month of December, 2019 is Rs 1,03,184 crore of which CGST is Rs 19,962 crore, SGST is Rs 26,792 crore, IGST is Rs 48,099 crore (including Rs 21,295 crore collected on imports) and Cess is Rs 8,331 crore (including Rs 847 crore collected on imports). The […]
VK Yadav’s term as Railway Board Chairman extended, may become first-ever CEO
NEW DELHI: Vinod Kumar (VK) Yadav, who assumed office as the Chairman Railway Board on Wednesday in his extended term, is likely to be its first-ever CEO, a post created recently as part of a major administrative restructuring of the national transporter. Yadav’s one-year extension as the Chairman gains significance in view of the restructuring […]
Chandrayaan-3 launch in 2021, four from IAF chosen for
BENGALURU: ISRO on Wednesday announced that the launch of country’s third lunar mission, Chandrayaan-3 may happen next year and said four from the Indian Air Force have been selected for the ambitious Gaganyaan programme, whose astronaut training would commence soon in Russia. The announcement comes a day after Union Minister Jitendra Singh said India will […]
General Bipin Rawat assumes charge of first Chief of Defence Staff
NEW DELHI: General Bipin Rawat assumed office of the Chief of Defence Staff (CDS) here today. As the CDS, General Rawat will be the Principal Military Advisor to the Raksha Mantri on all Tri-Services matters. He will also head Department of Military Affairs (DMA). The CDS will have a key role in ensuring optimum utilisation […]
Anil Khachi new chief secretary of Himachal Pradesh
NEW DELHI: Senior IAS officer Anil Kumar Khachi was appointed chief secretary of Himachal Pradesh on Tuesday. He succeeds Shrikant Baldi, who retired as chief secretary on Tuesday. Khachi, a 1986-batch Indian Administrative Service (IAS) officer, was holding the charge of additional chief secretary of Finance, Planning and Statistics. Source: Press Trust of India
Somesh Kumar appointed new Telangana Chief Secretary
HYDERABAD: The Telangana government on Tuesday appointed senior IAS officer Somesh Kumar as the new Chief Secretary to the government. He succeeds S K Joshi who is retiring on Tuesday. Somesh Kumar, who is presently serving as Special Chief Secretary, Revenue, will have a tenure up to December 31, 2023. “The state government has taken […]