Business, Companies, 30th May 2018, News & Stories from India

Friday, Apr 26, 2024 | Last Update : 03:14 AM IST

Business Companies 30 May 2018

Business, Companies, 30 May 2018

The lenders of Binani Cement have issued letter of intent to UltraTech after approving its bid to acquire the company under the bankruptcy code, Aditya Birla group firm said on Wednesday.

Got letter of intent from lenders to acquire Binani, says UltraTech

The Committee of Creditors of Binani Cement on May 28 approved the resolution Plan submitted by UltraTech Cement.

30 May 2018 7:45 PM

AirAsia India's non-executive director R Venkataramanan on Wednesday said allegations of wrongdoing against him are baseless and that he has been wrongly named as an accused.

Director R Venkataramanan says allegations baseless in AirAsia case

The CBI has registered a case against AirAsia Group CEO Tony Fernandes, Venkataramanan and other officials.

30 May 2018 7:12 PM

Jet Airways has grounded four of its crew members, including a senior commander, for allegedly clicking selfies during a training flight.

Jet Airways grounds 4 crew for allegedly clicking selfies

An internal investigation was being conducted into the issue and the crew was aiding in the probe.

30 May 2018 6:56 PM

State-run telecom operator MTNL on Wednesday reported widening of standalone net loss to around Rs 900 crore in the quarter ended March 2018.

MTNL Q4 net loss widens to Rs 900 crore

The company had posted a net loss of Rs 634.8 crore in the same period a year ago.

30 May 2018 6:35 PM

The settlement potentially paves way for the Anil Ambani-controlled telecom operator to sell its wireless assets including mobile masts and airwaves to Reliance Jio.

RCom, Ericsson reach settlement on outstanding dues

NCLAT has asked RCom to pay Ericsson 5.5 billion rupees by end-September as part of the settlement.

30 May 2018 5:10 PM

Facebook on wednesday said it has partnered with National Commission for Women (NCW) to launch a digital literacy programme in collaboration with the Cyber Peace Foundation (CPF). (Photo: AP)

Facebook to offer digital literacy programme for women

CPF's volunteers can effectively work with womens' groups to educate them and raise awareness on online safety.

30 May 2018 4:26 PM

ICICI Bank to hold 'independent' probe into allegations against Kochhar

Bank in a regulatory filing said the enquiry will be headed by an independent and credible person.

30 May 2018 4:10 PM

Modi government, keen to sell the loss-making, debt-ridden airline Air India, finalised plans in late March to divest a 76 per cent stake and offload about USD 5.1 billion of its debt.

No bids for Air India so far, won't extend deadline: Aviation secy

The government will not extend the deadline for submissions of interest in Air India, R N Choubey said.

30 May 2018 3:39 PM

On May 17, NCLAT admitted the petition of Renaissance Steel challenging Vedanta's bid for debt-ridden Electrosteel.

NCLAT allows Vedanta to make upfront payment of Rs 5,320 cr for Electrosteel

Electrosteel owes lenders more than Rs 13,000 crore, of which about Rs 5,000 crore is to State Bank of India alone.

30 May 2018 2:58 PM

Amazon is aggressively ramping up selection for grocery on its platform and focussing on speedier delivery as it looks to consolidate its position in the segment against rivals like BigBasket and Grofers.

Amazon India rebrands groceries service

E-commerce giant Amazon is aggressively ramping up selection for grocery on its platform and focussing on speedier delivery.

30 May 2018 2:55 PM

Markets regulator Sebi is also investigating the matter related to alleged lapses at Fortis Healthcare and Religare Enterprises.

Fortis defers board meeting to consider financial results

Fortis shares were trading 0.97 per cent up at Rs 145.25 on the BSE.

30 May 2018 2:43 PM

Tata Steel offered Rs 35,200 crore in cash to acquire Bhushan Steel. It would pay another Rs 1,200 crore over next 12 months to creditors and convert the remaining debt owed to banks to equity.

NCLAT asks Tata Steel if it will pay dues of Bhushan Steel

Bhushan Steel owed its lenders about Rs 56,000 crore and was among the 12 big loan defaulters identified by the Reserve Bank of India.

30 May 2018 1:58 PM

A case of duty evasion amounting Rs 52 crore was booked against Nirav Modi by the DRI in March.

PNB fraud: Nirav Modi jewellery estimated at less than 30 pc of book value

Value of polished diamonds held by Maha units of Firestar Diamond has also been reduce from Rs 153 cr to Rs 83 cr.

30 May 2018 12:33 PM

Markets regulator Sebi has sought information from Jet Airways following a complaint of alleged fraudulent practices. (Photo: PTI)

Sebi seeks information from Jet Airways following complaint of fraud

The regulator also sought the views/recommendations of the statutory auditors and the audit committee of the company on the same.

30 May 2018 12:29 PM

Singapore Airlines Ltd said it would launch the world’s longest commercial flight in October, a near-19 hour non-stop journey from Singapore to the New York area.

Singapore Airlines to launch world's longest commercial flight

The Singapore-Newark flight marks the return of a popular route for Singapore Airlines.

30 May 2018 12:22 PM

AirAsia on Wednesday referred requests for comment to AirAsia India.

AirAsia shares slide as probe puts India unit IPO, expansion at risk

Shares slid 6 per cent to a six-month low to give the airline a market value of roughly $2.6 billion.

30 May 2018 10:23 AM

Net NPAs were at 15.33 per cent of net loans, up from 13.99 per cent in the last quarter of 2016-17.

Indian Overseas Bank's Q4 net loss widens to Rs 3,606.73 cr

Shares of Indian Overseas Bank were trading 2.40 per cent lower at Rs 16.25 apiece on BSE.

30 May 2018 9:55 AM

The latest round of wage revision for all banks is due from 1 November 2017.

Two-day bank strike from today, ATM transactions may take a hit

On 30 and 31st May, 10 lakh bank employees all over India will be on strike over the issue of wage revision.

30 May 2018 8:58 AM

The card also comes with the medical and life insurance covers of Rs 2.5 lakh and Rs 5 lakh respectively.

BSNL-Patanjali co-branded SIM card offers 60GB at Rs 144

BSNL is well versed in matching the Mukesh Ambani upstart’s free voice and cheap data combos.

30 May 2018 8:44 AM

Petrol and diesel prices in India are linked to Singapore gasoline prices GL95-SIN and Arab Gulf diesel prices GO-AG.

India's top fuel retailer trims petrol, diesel prices

In New Delhi, a cut of less than 1 percentage point means that petrol will cost 77.83 rupees per litre.

30 May 2018 8:34 AM

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