Blackstone buys majority stake in Aadhar Housing Finance for Rs 2,200 crore
NEW DELHI: Global investment firm Blackstone has bought a majority stake in Aadhar Housing that caters to the housing financing needs of low-income households, a statement said on Tuesday. Blackstone has bought 97.7 per cent stake in Aadhar for about Rs 2,200 crore, sources said. Blackstone today announced that private equity funds managed by Blackstone […]
Former Finance Minister Arun Jaitley likely to move to new official residence soon
NEW DELHI: Former finance minister Arun Jaitley, who opted out of Modi-2.0 government due to ill-health, is likely to move to a new official residence soon after vacating the palatial bungalow he got as a minister, sources said. Jaitley had on May 29, a day before swearing in of the new Council of Ministers of […]
Rs 587 crore loan fraud case: Fresh FIRs against fugitive jeweller Jatin Mehta
NEW DELHI: The CBI has booked absconding diamantaire Jatin Mehta in two fresh cases pertaining to an alleged loan fraud of over Rs 587.55 crore on complaints from Bank of Maharashtra and Union Bank of India, officials said. According to the complaints from two state-run banks, Mehta allegedly cheated Bank of Maharashtra to the tune […]
IndiGo announces special summer sale, fares start as low as Rs 999
NEW DELHI: IndiGo on Tuesday announced a four-day special summer sale across its network for the travel period between June 16 and September 28. “Effective June 11, 2019 till June 14, 2019, IndiGo is offering customers all-inclusive fare starting at Rs 999 across domestic and Rs 3,499 across international sectors. This sale is valid for […]
Narendra Modi government sacks 12 senior I-T officers including a senior officer for corruption
NEW DELHI: The Narendra Modi government has dismissed from service 12 senior income tax officers, including one of the ranks of the joint commissioner, on charges of corruption and professional misconduct, sources said. The list is topped by a Joint Commissioner rank officer against whom there are serious complaints of corruption and extortion from businessmen […]
Jaypee Infratech home buyers may stop paying EMIs
NEW DELHI: As the voting process on the NBCC’s bid for Jaypee Infratech (JIL) ends on Monday, with no signs of the public sector enterprise getting through, sources say, home buyers plan to stop paying the ongoing EMIs (equated monthly installment) as many of them have “lost hope of a resolution”. The online voting on […]
NCLAT says banks can vote against NBCC proposal for Jaypee Infratech
NEW DELHI: The National Company Law Appellate Tribunal (NCLAT) on Monday clarified that lenders can vote against the NBCC’s proposal to acquire debt-ridden Jaypee Infratech and directed for completion of the ongoing voting process. Lenders consortium, led by IDBI Bank, had approached NCLAT seeking permission to vote against NBCC bid. The voting process started on […]
Supreme Court of India relief for residents of Kochi coastal apartments
NEW DELHI: The Supreme Court on Monday stayed for six weeks the demolition of 400 flats in five posh coastal apartments in Maradu area of Kochi giving some relief to the home-owners. A vacation bench of Justices Indira Banerjee and Ajay Rastogi passed the order while considering a writ petition filed by a group of […]
Finance minister seeks consultants for sale of PSU land, buildings
NEW DELHI: The finance ministry is scouting for consultancy firms for assistance in selling land and building assets of public sector companies as it works towards achieving the stiff sell-off target of Rs 90,000 crore for 2019-20. The Department of Investment and Public Asset Management (DIPAM) has floated a Request for Empanelment(RFE) to empanel international […]
Gujarat likely to get heavy rain due to cyclonic storm
AHMEDABAD: A heavy rainfall warning has been issued in parts of Gujarat in the next few days due to a depression in the Arabian Sea which is likely to turn into a severe cyclonic storm, a Meteorological Department (MeT) official said on Monday. Fishermen have been advised not to venture into the sea in the […]
Aviation scam: Praful Patel appears before ED in connection with PMLA case
NEW DELHI: As resolution through the insolvency courts keep getting delayed inordinately, the state-run Bank of Baroda has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts – Bhushan Power & Steel and Alok Industries which are undergoing insolvency process but delayed. While Bhushan Power & Steel dues are to […]
Bank of Baroda puts Bhushan Power & Steel, 66 other accounts on block
NEW DELHI: As resolution through the insolvency courts keep getting delayed inordinately, the state-run Bank of Baroda has put on sale non-performing loans amounting to Rs 9,060 crore, including two large accounts – Bhushan Power & Steel and Alok Industries which are undergoing insolvency process but delayed. While Bhushan Power & Steel dues are to […]
Green nod for UltraTech’s 6 million tonne cement plant worth Rs 2,500 crore in Andhra Pradesh
NEW DELHI: UltraTech Cement has got environment ministry’s nod for a Rs 2,500 crore project in Andhra Pradesh, according to an official document. Under the project, the company will set up an integrated cement plant at Petnikote village in Kurnool district with a clinker capacity of 4 million tonne per annum (MTPA), 6 MTPA of […]
Uttar Pradesh to remain largest sugar producer in country
MUZAFFARNAGAR: Uttar Pradesh minister Suresh Rana said on Sunday the state was all set to retain its position as the largest producer of sugar in the country. Addressing a gathering in the three-day jaggery festival here, the cane development and sugar mills minister claimed that the state was also at the first position in the […]
Monsoon likely to delayed in Odisha
BHUBANESWAR: Southwest monsoon, that hit Kerala after a week-long delay on Saturday, is likely to make a late arrival in Odisha, the IMD’s regional centre here said. The monsoon is unlikely to hit Odisha in the next four -five days and no specific date has been announced about its arrival, H R Biswas, Director of […]
Huawei obtains 46 commercial 5G contracts from 30 countries despite US ban
By K J M Varma BEIJING: Chinese telecom giant Huawei said it has obtained 46 commercial 5G contracts so far in 30 countries and shipped more than one lakh 5G stations globally, emerging as a top player in the race for setting up the super-fast telecommunications system despite the US ban on use of its […]