Zirakpur to become a co – working hub as Motia Group ties up with AWFIS
NEW DELHI: Motia Group, one of the leading real estate developers in Tri City announces its joint venture with India’s largest shared workspace provider – AWFIS. Spreading to an area of 15,000 square feet, AWFIS has launched its first co-working space in Motia’z Royal Business Park, Zirakpur. The centre has seating capacity of over 300 […]
Ashwani Lohani takes charge as Air India CMD
NEW DELHI: Retired technocrat Ashwani Lohani took charge as the chairman and managing director (CMD) of Air India on Friday. He took the charge in presence of recently appointed Civil Aviation Secretary Pradeep Singh Kharola and senior officials of the national carrier. This is Lohani’s second tenure as Air India chief. The Appointments Committee of […]
Finance minister asks banks to meet realtors to understand industry issues
NEW DELHI: Finance Minister Piyush Goyal has asked banks to meet real estate sector representatives within the next fortnight to discuss the issues being faced by them. The minister also assured that goods and services tax (GST) rates would be brought down soon for the sector, which has been facing a demand slack. “There is […]
Mumbai: IDBI to auction Kimaya owners’ 12,000 sq ft Bandra property
MUMBAI: State-run IDBI Bank will auction a 10-bedroom, 12,200 sq ft penthouse in Bandra. The property of Pradeep Hirani was taken over by the bank under Securitisation and Reconstruction of Financial Assets and Enforcement (Sarfaesi) Act last October, after he defaulted on a loan. Hirani owes Rs 30.7 crore, including interest, to the bank, according […]
MTNL Q3 standalone loss widens to Rs 832 crore, total expense rises
NEW DELHI: State-owned MTNL on Thursday reported widening of its standalone loss to Rs 832.26 crore for the three months ended December 2018, compared to about Rs 639 crore in the year-ago period. The loss during the third quarter of FY19 was a tad lower than losses sustained in the previous sequential quarter (ended September) […]
DHFL CEO Harshil Mehta resigns
NEW DELHI: DHFL on Wednesday said its CEO Harshil Mehta has decided to resign from his position with immediate effect. “However, he would continue to be associated with the company and shall hold the designation of Executive President -Retail Business with effect from February 14, 2019,” DHFL said in a regulatory filing on stock exchanges. […]
Mahindra launches lower version of SUV XUV500 priced Rs 8.49 lakh
NEW DELHI: Mahindra & Mahindra on Thursday launched a new SUV, the XUV300, which is a souped down variant of the premium model XUV500. The sub-4 meter XUV300 comes in both petrol and diesel options, and are priced in the range of Rs 7.90-8.49 lakh, respectively, and is powered by a 1.2-litre (petrol) and 1.5- […]
Airport to come up in Tawang
ITANAGAR: Arunachal Pradesh Chief Minister Pema Khandu on Thursday said an airport for Tawang district bordering China is on the cards and the Airport Authority of India (AAI) has identified a land for it. The airport could be used for both civilian and defence purposes, he said at Tawang. Khandu said Tawang being a major […]
Supreme Court gives Amrapali CMD last chance to return homebuyers’ money
NEW DELHI: The Supreme Court on Thursday grilled Amrapali Group CMD Anil Kumar Sharma for Rs 94 crore of homebuyers’ money being shown in his bank account and also warned that it would send him to jail for his “reluctance” in disclosing the identity of a person, who had bought company’s shares worth Rs 140 […]
WABAG secures order worth Rs 520 crore under Namami Gange
NEW DELHI: Chennai-based VA Tech Wabag, a multinational player in the water treatment has secured Rs 520 Crore worth order from Jajmau Tannery Effluent Treatment Association (JTETA) towards engineering, procurement, construction, operation & maintenance of a 20 MLD Common Effluent Treatment Plant (CETP) along with treated sewage dilution facility for Jajmau leather cluster, Uttar Pradesh. […]
Pramod Chandra Mody new CBDT chairman
NEW DELHI: Senior IRS officer Pramod Chandra Mody was on Thursday appointed as the chairman of Central Board of Direct Taxes (CBDT), top policy making body of income tax department, according to a Personnel Ministry order. Mody, a 1982 batch Indian Revenue Service (Income Tax cadre), has been appointed in place of Sushil Chandra, who […]
Airbus pulls plug on costly A380 superjumbo as sales plummet
NEW DELHI:European aerospace giant Airbus said on Thursday that it would stop building its A380 superjumbo, the double-decker jet which earned plaudits from passengers but failed to win over enough airlines to justify its massive costs. The final two double-deckers will be delivered in 2021, just 14 years after the first A380 went into service, […]
Leela promoters curious over ‘sale’ of hotel group
NEW DELHI: In a curious tale of a transaction taking place without the owner’s knowledge, embattled Hotel Leela Ventures Company Secretary Alen Fernes wrote to both NSE and BSE surveillance departments on February 12 saying “We wish to clarify that the company in consultation with lenders is evaluating various options and there is no binding […]
Billionaire Abhishek Verma meets former Maldives president Mohamed Nasheed
NEW DELHI: Billionaire Abhishek Verma and his wife Anca Verma met former Maldives President Mohamed Nasheed today and discussed a host of issues pertaining to development of Madlives. Mohammed Nasheed was the President of Maldives from 2008 to 2012. Abhishek Verma and Anca Verma own ‘Olialia World’ a US$ 2 billion multinational FMCG giant with […]
Cabinet approves Rs.13,365.77 crore for Patna Metro Rail Project
NEW DELHI: The Union Cabinet chaired by Prime Minister of India Narendra Modi has approved Patna Metro Rail Project having two Metro Rail Corridors,namely (i) Danapur to Mithapur (ii) Patna Railway Stationof New ISBT at an estimated cost of Rs.13365.77 crore. Project Details: The Project will be completed in five years. DanapurCantt to Mithapur corridor […]
Ashwani Lohani appointed Air India CMD for second time
NEW DELHI: Former Railway Board chairman Ashwani Lohani has been appointed chairman and managing director (CMD) of Air India, according to an order issued by the government on Wednesday. This will be Lohani’s second tenure as Air India chief. His appointment was approved by the Appointments Committee of the Cabinet on Wednesday, sources said. Lohani […]