Category: NEWS

DLF transfers Noida mall, land to JV firm; reduces dues to Rs 5,500 crore

NEW DELHI: Realty major DLF has settled Rs 3,100 crore amount payable to its joint venture with Singapore investment firm GIC by transferring Noida shopping mall and some land parcels. At the end of 2018, DLF owed Rs 8,700 crore to DLF Cyber City Developers Ltd (DCCDL), which is a joint venture between DLF and […]

Reliance Industries to acquire 87.6% stake in Fynd for Rs 295 crore

NEW DELHI: Reliance Industries Ltd (RIL) will acquire an 87.6% stake in Shopsense Retail Technologies, also known as Fynd, for Rs 295 crore ($42.33 million), it said in a statement. The company said its wholly-owned subsidiary Reliance Industrial Investments and Holdings Ltd has an option to further invest up to Rs 100 crore by December […]

Slowdown in economy is cyclical, growth will pick up 1-2 years: Bimal Jalan

NEW DELHI: The current slowdown in the Indian economy is cyclical and growth will pick up in one or two years, former RBI Governor Bimal Jalan said on Sunday. Jalan further said the government has already announced many reforms, and it is now a question of implementation, particularly in terms of investment. “The slowdown in […]

Bankrupt Jet Airways extends deadline for initial bids to August 10

NEW DELHI: The lenders to the defunct Jet Airways has decided to extend the deadline for submitting expression of interest by a week to August 10. Late last month, the resolution professional Ashish Chhawchharia had floated EoIs for selling stake in the airline that stopped flying mid-April. Today was the deadline putting in the EoIs […]

LIC Housing Finance Q1 net up 7% at Rs 609 crore; revenue comes at Rs 4815 crore

NEW DELHI: LIC Housing Finance on Saturday posted a 7.39 per cent increase in its consolidated net profit at Rs 609.13 crore for the first quarter ended on June 30, 2019. It had reported a net profit of Rs 567.18 crore during the same period of the previous fiscal. Total Revenue from operations rose to […]

Gurugram development body sends notices to over 360 societies to install STP

GURUGRAM: The Gurgaon Metropolitan Development Authority (GMDA) has issued notices to 366 residential societies of the city to install sewerage treatment plants (STPs) in their respective premises else sewerage connection will be cut by respective civic agencies. The decision was taken after the National Green Tribunal recently slammed GMDA for the millennium city’s contribution to […]

Income-Tax department detects tax evasion of Rs 700 crore by Mumbai’s Hubtown Group

NEW DELHI: The Income-Tax department on Friday said it has conducted raids at 40 premises of a Mumbai-based real estate firm and claimed to have detected tax evasion worth Rs 700 crore. The CBDT, that frames policy for the tax department, issued a statement saying the operation was conducted on July 29 on a “prominent […]

Supreme Court orders status quo for two weeks on insolvency resolution process of Jaypee

NEW DELHI: The Supreme Court Friday ordered status quo for two weeks on the insolvency resolution process on Jaypee Group’s plea which has challenged the NCLAT order allowing fresh bidding for debt-laden Jaypee Infratech. A bench of justices A M Khanwilkar and Dinesh Maheshwari passed the order after the apex court was informed that Parliament […]

Back To Top