Andhra Pradesh government stops sand mining with immediate effect
AMARAVATI: The Andhra Pradesh government on Tuesday decided to stop sand mining with immediate effect. Mines and Geology Minister Peddireddi Ramachandra Reddy said: “New sand mining policy will be introduced within a span of 15 days.” He warned the people who indulge in illegal sand mining, saying that the cases will be filed under the […]
Delhi notifies draft parking policy, allows free parking in residential areas
NEW DELHI: The Delhi government has notified its draft parking policy discouraging on-street and banning footpath parking while allowing free parking in residential areas. The government had come out with the draft parking policy in June last year which said that “parking may be allowed in residential areas on payment of (parking) charges and higher […]
Indiabulls petitioners withdraw from Supreme Court amid hints of criminal conspiracy
NEW DELHI: Indiabulls Housing Finance Ltd. said on Thursday that Abhay Yadav, the petitioner who alleged that the company and its Chairman Sameer Gehlaut misappropriated funds, withdrew his writ petition from the Supreme Court. IANS has been repeatedly pointing out that the petitioners filed the plea with malafide intent. Indiabulls housing share closed 11.86 per […]
SEBI, MCA probing PWC’s resignation as auditor of Reliance Home Finance
NEW DELHI: Regulator SEBI and the Ministry of Corporate Affairs are looking into the sudden resignation of PWC as auditor of Reliance Capital and Reliance Home Finance and have asked the stock exchanges to collect all necessary information including trade details and statements made by the three entities. The development assumes significance in the wake […]
India approves SEZ amendment bill to permit trusts to set up units
NEW DELHI: A bill to amend the special economic zones law will be introduced in the ensuing session of Parliament to replace an ordinance promulgated in March which will allow trusts to set up units in SEZs. The introduction of the Special Economic Zones (Amendment) Bill, 2019 was approved by the Union Cabinet in its […]
DHFL promoters look to sell half of their stake for $1 billion
NEW DELHI: Promoters of debt-ridden mortgage lender DHFL are in talks with private equity firms and are expecting to garner USD 1 billion (about Rs 6,900 crore) by selling nearly 50 per cent of their holdings, sources said. The Wadhawan family, the promoters of the company, currently holds close to 40 per cent stake in […]
HDFC sells further 4.22% stake in Gruh Finance for Rs 899 crore
NEW DELHI: Mortgage lender HDFC on Friday said it has sold over 4.22 per cent stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs 899.43 crore. The sale of 3,10,00,000 equity shares representing 4.22 of the issued and paid-up share capital of Gruh was carried out […]
Pakistan extends airspace ban along its eastern border with India till 28
LAHORE: Pakistan on Thursday extended its airspace ban along its eastern border with India for the third time till June 28, according to a notice issued by the country’s Civil Aviation Authority (CAA). Pakistan fully closed its airspace on February 26 after the Indian Air Force struck a Jaish-e-Mohammed (JeM) terrorist training camp in Balakot. […]
Wadhwa Group plans investments of Rs. 2200 crore in Wadhwa Wise City
NEW DELHI: Mumbai-based Wadhwa Group is planning investments of Rs 2200 crore in the first two phases of Wadhwa Wise City. Estimated revenues from these phases of the first integrated township project in NAINA (Navi Mumbai Airport Influence Notified Area) at Panvel is Rs. 3200 crore. Out of the total land holding of over 450 […]
US Embassy organises Student Visa Day
NEW DELHI: The US Embassy in Delhi organised Student Visa Day on Wednesday to adjudicate visa applications from Indians aspiring to pursue higher studies in the US. On the Visa Day, US Embassy in Delhi and its four consulates — Chennai, Hyderabad, Kolkata and Mumbai — are thrown open exclusively to adjudicate visa applications from […]
Rs 2-trillion bank frauds in 11 years: ICICI Bank, SBI report maximum cases
NEW DELHI: Of over 50,000 frauds that hit banks in India in the last 11 fiscal years, the ICICI Bank, State Bank of India (SBI) and HDFC Bank reported highest number of cases, according to an RBI data. Of the total 53,334 cases of frauds reported during 2008-09 and 2018-19 fiscal years, involving a whopping […]
UK High Court denies bail to Nirav Modi; judge says he will not surrender
LONDON: The UK High Court on Wednesday rejected Nirav Modi’s bail application, his fourth attempt as the diamond merchant fights his extradition from Britain to India in the nearly $2 billion Punjab National Bank (PNB) fraud and money laundering case. In her judgment handed down at the Royal Courts of Justice in London, Justice Ingrid […]
IndiGo enters China, to start flights on Delhi-Chengdu route from September 15
NEW DELHI:Announcing its entry into the Chinese market, low-cost carrier IndiGo Wednesday said it will start its daily non-stop flight on the Delhi-Chengdu route from September 15 onwards. William Boulter, Chief Commercial Officer, IndiGo said,”This is truly a milestone moment for all of us at IndiGo. India is witnessing a much higher growth rate with […]
HDFC Bank to begin global search for MD Aditya Puri’s successor
NEW DELHI: The largest private sector lender HDFC Bank has decided to begin a global search to find a successor to the founding-chief executive Aditya Puri, who retires in October 2020. Meanwhile, Puri, the managing director and chief executive since 1994 when the bank was set up, has seen a whopping 41 percent increase in […]
Virat Kohli only Indian among Forbes highest paid athletes,Lionel Messi tops the list
NEW DELHI: Star cricketer Virat Kohli remains the sole Indian in the Forbes list of world’s highest-paid athletes with estimated annual earnings of $25 million. However, the Indian captain has dropped 17 spots to be 100th in the rankings. The list is headed by Barcelona and Argentina football superstar Lionel Messi. According to the Forbes […]
Casinos important for Goa tourism
PANAJI: Casinos are important for the tourism profile of Goa and cannot be written off, chief minister Pramod Sawant said on Tuesday. He was speaking to reporters after attending a meeting of the state Tourism department. “There are a few tourists who come to Goa to play in the casinos. They are important from the […]