DHFL COC seeks to oust Oaktree from bidding race; rules changed again to favour Piramal
NEW DELHI: Banking sources reveal that some of the members of the Committee of Creditors (CoC) with large exposure to DHFL, are seeking to oust Oaktree from the bidding race for DHFL assets. Interestingly, Oaktree has emerged as H1 with the highest bid of Rs 38,400 crore. However, at the instance of some of these […]
CBI charges Shakti Bhog foods in Rs 3,269 crore alleged bank fraud case
NEW DELHI: The CBI has charged Delhi-based Shakti Bhog Foods Limited for an alleged fraud of Rs 3,269 crore on a consortium of 10 banks led by the State Bank of India (SBI), officials said on Friday. On a complaint from the SBI, the agency has charged the managing director of the company, Kewal Krishan […]
Private banks witnessed rise in NPAs in large borrowal accounts in FY20: RBI
NEW DELHI: Private sector banks witnessed a rise in non-performing assets (NPA) in respect of large borrowal accounts with exposure of Rs five crore or above. A recent report by the Reserve Bank of India (RBI), cited that gross NPA ratio as well as the ratio of restructured standard assets to total funded amounts emanating […]
GST arm unearths Rs 832 crore tax evasion by illegal ‘pan masala’ factory
NEW DELHI: The Central GST Delhi West Commissionerate has unearthed evasion of taxes worth around Rs 831.72 crore by way of manufacture and illegal supply of ‘pan masala’ without any registration and payment of duty. The GST officials also arrested one person in the matter. An official statement said that on the basis of the […]
Never charged customers for IUC: Airtel
NEW DELHI: Telecom major Bharti Airtel on Friday said that it has never charged customers separately for Interconnect Usage Charges (IUC) and its unlimited free call benefits will continue. COO Ajai Puri said in a statement that Airtel mobile customers already enjoy unlimited free calls to all networks with Airtel’s prepaid bundles and postpaid plans. […]
Jio says Airtel, Vodafone Idea partners sabotaging network;Airtels says Jio’s allegations ‘baseless’,
NEW DELHI: Reliance Jio Infocomm Ltd (RJIL) has said that there are “blatant efforts” to sabotage its network in the garb of farmers’ protest by the channel partners of Bharti Airtel and Vodafone Idea. In letters sent to Anshu Prakash, Secretary, Department of Telecommunications (DoT) and P.D. Vaghela, Chairman, Telecom Regulatory Authority of India (TRAI, […]
Ericsson CEO lobbying against Swedish ban on Huawei, ZTE: Report
STOCKHOLM/NEW DELHI: Borje Ekholm, Chief Executive Officer (CEO) of Swedish telecom giant Ericsson, has been lobbying the government to repeal a ban that prohibits Huawei and ZTE from participating in the country’s 5G construction, according to local newspaper Dagens Nyheter. In a series of text messages to Swedish Foreign Trade Minister Anna Hallberg, the CEO […]
India-UK flights to restart from January 6, UK-India services from January 8
NEW DELHI: India’s Aviation Minister Hardeep Singh Puri said on Saturday flights from India to UK will resume from January 6, while services from that country to here would resume from January 8 onwards. “Resumption of flights between India & UK: India to UK from 6 Jan 2021. UK to India from 8 Jan 2021. […]
India drafts law to raise legal age of smoking to 21 years
By Sanjeev Sharma NEW DELHI: The government of India (Centre) has prepared a bill to raise the age for allowing sale of cigarettes and tobacco products to 21 years from the current 18 years. The government has drafted the Cigarettes and other Tobacco Products (Prohibition of Advertisement and Regulation of Trade and Commerce, Production, Supply […]
Covid-19 vax: Dry run in India’s 125 districts, 285 sites
NEW DELHI: As India gears up to launch the world’s largest immunisation drive, almost all states and Union Territory (UT) governments, including the national capital, on Saturday conducted a dry run at 285 session sites spread across 125 districts to the assess ability and readiness of authorities to administer Covid-19 shots to hundreds of millions […]
India’s Kashmir region seeks $4 billion in investments, to provide security
By Aftab Ahmed NEW DELHI: India’s federal territory of Jammu and Kashmir plans to attract investments worth up to $4 billion in the next two to three years and would provide security to businesses setting up shop in the insurgency-hit region, its chief said on Saturday. Jammu and Kashmir (J&K) was India’s only Muslim-majority state […]
Goa Shipyard to build 12 patrol boats for Pangong deployment
PANAJI: Goa Shipyard Limited (GSL) has bagged the Rs 65-crore contract to build 12 anti-ramming patrol boats that would be deployed at Pangong Lake in Ladakh to thwart Chinese aggression. The PSU is expected to roll out the patrol boats by May 2021, by when snow would have melted at the lake and a face-off […]
‘In public interest’: Bharat Biotech’s Covaxin recommended for emergency approval
NEW DELHI: The government of India on Saturday said that the expert panel of India’s drug regulator has recommended granting permission for restricted emergency use of the indigenously developed Covid-19 vaccine ‘Covaxin’ in “public interest as an abundant precaution.” The Subject Expert Committee of Central Drugs Standards Control Organisation had met on January 1 and […]
Jammu and Kashmir administration signs MoU with NAFED
NEW DELHI: In Jammu and Kashmir, the Union Territory Administration has signed a historic Memorandum of Understanding (MoU) with National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED), an apex organization of marketing cooperatives for agricultural produce. With this the MoU, NAFED to cover 5,500 Hectares at a cost of Rs 1,700 crore in the […]
Reliance petroleum: SEBI imposes a fine of Rs 15 crore on Mukesh Ambani
NEW DELHI: Commodity market regulator Securities and Exchange Board of India (SEBI) on Friday imposed penalties on Reliance Industries Ltd, its Chairman and Managing Director Mukesh Ambani as well as two other entities for allegedly indulging in manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs […]
Narendra Modi lays foundation stone of the permanent campus of IIM Sambalpur
NEW DELHI: The Prime Minister Narendra Modi laid the foundation stone of the permanent campus of IIM Sambalpur today via video conferencing. Governor and Chief Minister of Odisha, along with Union Ministers Ramesh Pokhriyal ‘Nishank’, Dharmendra Pradhan and Pratap Chandra Sarangi were also present on the occasion. Speaking on the occasion, the Prime Minister said […]