Business, Companies, 18th Mar 2019, News & Stories from India

Friday, Apr 19, 2024 | Last Update : 11:57 AM IST

Business Companies 18 Mar 2019

Business, Companies, 18 Mar 2019

Former Maharashtra Chief Minister Manohar Joshi's Kohinoor Education Trust owes nearly Rs 16 crore to Bank of Maharashtra, Rs 38.63 crore to State Bank of India and Rs 13.18 crore to Bank of India.

Banks threaten to sell ex-CM Joshi's edu trust properties for default

The lender has asked the borrower and corporate guarantors to repay the amount within 60 days.

18 Mar 2019 6:19 PM

Reliance Communications pays Rs 458.77 crore to Ericsson: sources

Failure to cough up the dues would have meant that RCom Chairman Anil Ambani would have faced a 3-month jail term.

18 Mar 2019 6:05 PM

A bench of Chief Justice Rajendra Menon and Justice AJ Bhambhani noted the submissions of the ED that a case has been registered under provisions of the Foreign Exchange Management Act (FEMA) against the two companies. (Representational Image)

ED probing if Amazon, Flipkart violated foreign exchange law, HC told

Delhi HC had earlier sought response of the centre, Amazon and Flipkart to plea which has sought a probe into alleged FDI violations.

18 Mar 2019 5:20 PM

The bank's board approved a proposal to raise equity capital by issuance and allotment of up to 10 crore shares at the issue price of Rs 27 per share

Central Bank to raise up to Rs 270 cr by issuing shares to employees

Stock of the bank closed 0.44 per cent down at Rs 33.85 on BSE.

18 Mar 2019 5:09 PM

Domestic rating agency Icra said IT sector will clock a 7-9 per cent growth in FY20 mainly on demand for digital solutions. (Representational Image).

IT services sector may register growth upto 9 pc in FY20

Firming oil prices will lead to some discretionary spends by energy firms on digital spends and give IT firms some good news.

18 Mar 2019 4:11 PM

The appellate tribunal also said it will also look into the issue of discriminatory distribution of the funds between financial and operational creditors.

NCLAT gives conditional nod to ArcelorMittal's Rs 42,000 cr plan for Essar Steel

ArcelorMittal's resolution proposal provides financial creditors Rs 41,987 cr out of their total dues of Rs 49,395 cr.

18 Mar 2019 3:57 PM

Infosys shareholders approve reappointment of Shaw as independent director

In public institution category, 93.57 pc of the votes backed Shaw's reappointment, and about 6.4 pc of the votes were against it.

18 Mar 2019 3:54 PM

Reliance Communications Chairman Anil Ambani. (Photo: File)

A day left for Anil Ambani to pay USD 80 mn to avoid jail

The repeated failure to comply and Ambani's personal guarantee landed him in trouble last month,

18 Mar 2019 3:44 PM

A spokeswoman for the committee declined to comment on the discussions.

Nissan governance panel sees no need to overhaul alliance agreement: source

The external committee tasked by Nissan to propose ways to bolster the firm’s corporate governance.

18 Mar 2019 2:35 PM

Shares of SBI were trading 0.74 per cent lower at Rs 295.50 apiece on BSE.

SBI central board to meet later this week for extension of capital raising timeline

In December SBI shareholders approved its plans to raise up to Rs 20,000 cr through various modes including FPO, to fund growth.

18 Mar 2019 2:22 PM

IOC, the country’s top refiner, had shut the CDU and some other secondary units at the 300,000-bpd refinery in the northern state of Haryana. (Photo: AP)

IOC hopes to restart fire-hit CDU at Panipat plant in 2-3 days

The state-controlled company has two equal size CDUs at the refinery.

18 Mar 2019 12:45 PM

Cash-crunched Indian carrier Jet Airways Ltd said on Monday it will delay paying interest to its debenture holder. (Photo: Twitter | @jetairways)

Jet Airways delays payment to debenture holder

Jet has been saddled with debt of over USD1 billion due to tight competition and rising fuel costs.

18 Mar 2019 11:50 AM

The Jet Airways board had on 14 February approved a bailout plan whereby the lenders led by the State Bank of India (SBI) would become the largest shareholders in the airline by converting the airline's debt into equity at a nominal price of Re 1. (Photo: File | AP)

Jet Airways grounds its operations in Abu Dhabi Airport

Jet Airways has a debt of over Rs 8,200 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.

18 Mar 2019 11:23 AM

DHFL rose as much as 4.4 per cent, after Chief Financial officer Santosh Sharma was redesignated to another role.

Dewan Housing shares rise; CFO moved as corporate strategy head

An auditor had earlier this month dismissed media allegations that DHFL had created shell companies to divert funds.

18 Mar 2019 11:23 AM

IRDAI has set a deadline of 2021 to roll out the process towards adopting the new accounting standards.

Insurance industry wants IFRS 17 adoption deferred

IFRS norms like risk-based capital framework is necessary to assess the financial strength of a company.

18 Mar 2019 4:32 AM

Wirecard, a star in the German stock market for more than a decade, came under selling pressure after a series of reports of a possible fraud in Indian operations.

Acquisition of Chennai firm at centre of fraud investigation

Germany’s Wirecard under S’pore probe for likely money laundering.

18 Mar 2019 4:12 AM

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Mohan Guruswamy