Soon, like mobile number you may also port your power supplier

19/10/2017
new delhi: The government plans to give electricity consumers the freedom to choose the supplier by enacting a new law that will bring the long-awaited system similar to mobile number portability. It plans to table the necessary bill in the winter session of Parliament that begins in the third week of November, although it has faced resistance from states. Several state distribution companies are keen to protect their monopolistic position, without which consumers can shift to the suppliers th...

Eating out may get cheaper as GST is likely to be cut to 12%

19/10/2017
new delhi: A GST panel which been tasked to revisit Goods and Services Tax (GST) rates for restaurants, has considered the case for scrapping the distinction between air-conditioned (AC) and non-air-conditioned restaurants, media reports said. The 5-member the group of ministers (GoM), under Assam Finance Minister Himanta Biswa Sarma has reportedly consented to back reduction in the levy on restaurants from 18 percent to 12 percent and withdrawal of the input tax credit facility available to e...

India pitches for pricing flexibility in LNG contracts

19/10/2017
Tokyo: After getting Qatar and Australia to lower gas price, India on Wednesday pitched for flexible terms for LNG purchase including provision of pricing review, flexible take or pay and abolition of destination restriction clause. Speaking at the LNG Producer-Consumer Conference at Tokyo, Oil Minister Dharmendra Pradhan said the global LNG market is undergoing a major transformation driven by new supplies which has created a situation of oversupply. “He urged the global LNG markets, in which...

Gold price sparkles on Diwali demand, tops Rs 31,000-mark

19/10/2017
new delhi: Gold prices spurted by Rs 290 to 3-week high of Rs 31,000 per 10 grams on the eve of Diwali at the bullion market Wednesday on increased buying by local jewellers to meet festive demand. A weak trend overseas however capped the gains. Silver held steady at Rs 41,000 per kg in limited deals from industrial units and coin makers. Bullion traders said increased buying by local jewellers, driven by Diwali festival demand in domestic spot markets, mainly led to rise in gold prices. Glob...

Notable increase in foreign exchange purchase by India: US

19/10/2017
Washington: Observing that there has been a notable increase in the scale and persistence of India's net foreign exchange purchases, the US Department of Treasury has told the Congress that it will closely monitor New Delhi's foreign exchange and macroeconomic policies. "Over the first half of 2017, there has been a notable increase in the scale and persistence of India's net foreign exchange purchases, which have risen to around USD 42 billion (1.8 percent of GDP) over the four quarters throu...

Pre-GST car sales surge takes sheen off Dhanteras

19/10/2017
NEW DELHI: Car sales did not fire upon Dhanteras as pre-festive buying on fears of price hikes after implementation of GST took the sheen off the usual festival fervour. Consumer durables and electronics makers, however, saw healthy buying on the back of new products and attractive offers that were sweetened by easier financing schemes. While footfalls were not missing at retail points, sales conversion was not as brisk "as is the usual", car retailers said. Top companies such as Maruti Suzuki...

Axis Bank Q2 net up 36% to Rs 432 cr

19/10/2017
new delhi: Private sector lender Axis Bank on Tuesday reported a nearly 36% increase in net profit at Rs 432 crore in the second quarter ended September, despite rise in bad loans. The bank had posted a net profit of Rs 319 crore for the July-September period of 2016-17. Total income increased to Rs 13,821 crore in the period under review from Rs 13,698.7 crore for the quarter ended September 30, 2016, Axis Bank said in a statement. During the quarter, gross non-performing assets (NPAs) of th...

ZTE Axon M dual-screen foldable smartphone launched

19/10/2017
New York: Leading Chinese mobile devices provider ZTE has launched a dual-screen foldable smartphone in the US, marking another milestone for the company. The latest flagship device, named Axon M, features two 5.2-inch screens that can be folded to the size of a traditional smartphone, Xinhua reported. The phone has three unique modes to accommodate various users' needs. With dual mode, the users can open different apps on each screen simultaneously. For example, one could watch a basketball g...

I-T dept launches ‘online chat’ to answer taxpayers queries

19/10/2017
new delhi: The Income Tax Department has launched an 'online chat' service for taxpayers so that they can seek answers to their basic queries and doubts relating to direct tax issues. A window has been hosted on the main page of the department's website -- www.Incometaxindia.Gov.In/ with a prominent icon stating 'Live Chat Online- ask your query'. "A team of experts from the department and independent tax practitioners has been deputed to answer the general queries of a taxpayer. This first-ti...

Options trading to formalise gold trade: Arun Jaitley

18/10/2017
new delhi: Finance Minister Arun Jaitley on Tuesday launched gold options trading on the leading commodity bourse MCX and said this is one of the steps towards formalising gold trade. After the success of the gold options, MCX said it will approach the regulator Sebi seeking permission for other commodities like cotton, crude palm oil, silver and copper. At present, MCX offers futures trade in gold and other commodities even as the industry has been demanding other products like options trade...

Indians shunning overseas job lure; job hunt at home on rise

18/10/2017
new delhi: The charm of fetching a job overseas is waning in India as political uncertainty abroad has spurred highly skilled Indian talent to stay at home to look for employment, says a survey. As per a recent data released today by global job site Indeed, there has been a 38 per cent decrease in Indians looking to move to the US and 42 per cent decrease in Indians eyeing for the UK in the last year. The report noted that the prospect of Brexit is likely to have deterred Indian job seekers l...

Lakshmi Mittal donates USD 25 million to Harvard University

18/10/2017
Washington: Steel tycoon Lakshmi Mittal has donated USD 25 million to the prestigious Harvard University with an aim to increase engagement with South Asian countries, including India. The donation will establish an endowed fund for the South Asia Institute at the university. The institute spearheads Harvard's engagement with South Asian countries, including India, Afghanistan, Bangladesh, Bhutan, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka as well as diaspora populations from these coun...

WPI to moderate further; to average 2.8 pc in 2018: Nomura

18/10/2017
new delhi: WPI inflation is expected to moderate further in the coming months, and is likely to average 2.8 per cent in 2018, says a Nomura report. According to the Japanese financial services major, a moderation in WPI inflation in the coming months is likely owing to falling vegetable prices and favourable base effects. "Looking ahead, with food prices (vegetables) falling further in recent weeks and favourable base effects on fuel inflation until January 2018, we expect WPI inflation to mod...

Microsoft responded quietly after detecting secret database hack in 2013

18/10/2017
new delhi: Microsoft Corp`s secret internal database for tracking bugs in its own software was broken into by a highly sophisticated hacking group more than four years ago, according to five former employees, in only the second known breach of such a corporate database. The company did not disclose the extent of the attack to the public or its customers after its discovery in 2013, but the five former employees described it to Reuters in separate interviews. Microsoft declined to discuss the i...

Hacked details of credit cards available for sale online at just Rs 500

18/10/2017
Indore: The cyber squad of Madhya Pradesh Police has arrested two persons of an international gang that used to make large-scale online purchases and enjoy foreign trips by using hacked information of credit cards, a senior official claimed. Superintendent of Police (SP) of State Cyber Cells Indore unit, Jitendra Singh told reporters today that two Indian members of this gang, identified as Ramkumar Pillai and Ramprasad Nadar, were arrested following a complaint made by a bank official from Ag...

RIL-BP to invest $1.5 bn to develop satellite gas fields

18/10/2017
new delhi: Reliance Industries and its partner BP Plc of the UK will invest about USD 1.5 billion to bring to production six satellite gas discoveries in the flagging KG-D6 block by 2022. RIL-BP combine yesterday submitted to the Directorate General of Hydrocarbons (DGH) a field development plan for what are known as satellite and other satellite fields, sources with direct knowledge of development said. They plan to develop four deepsea satellite gas finds, named D-2, 6, 19 and 22, together ...

Housing demand remains subdued, affordable segment to drive future growth

18/10/2017
Kolkata: Notwithstanding the implementation of the Real Estate (Regulation and Development) Act, 2016 (RERA), and the Goods and Services Tax (GST), demand in the residential markets across cities remains sluggish, but the affordable segment is seen as the growth driver in the coming months, experts say. And, to tap the investment sentiments associated with the festive season and counter the subdued markets, developers have started offering innovative marketing schemes aimed at increasing the s...

Domestic workers to enjoy minimum wages, social security benefits soon

18/10/2017
new delhi: Domestic workers across the country may soon have right to equal and minimum wages, social security cover, skill development programme and forming unions at par with other workers under the existing labour laws. The ministry has invited views of all stakeholders and general comments on the National Policy for Domestic Workers till November 16, 2017, as per an official circular by the Ministry of Labour and Employment. The new draft policy however does not prescribe a minimum wage f...

I was really surprised when I was approached for my wax statue: Varun Dhawan

17/10/2017
2017 started on a high note for him with Badrinath Ki Dulhania entering the Rs 100 crore club. In the fifth year of his Bollywood journey, Varun Dhawan has scored another 100 crore-grosser with Judwaa 2. Now, the actor has another feather in his cap – he will have his wax statue at Madame Tussauds Hong Kong early next year. With back-to-back 100 crore films, a strong line up of new films and now a wax statue, do you feel you are at a career high? I strongly feel that there’s still a lot of wo...

Was down in the dumps for almost a year: Parineeti

17/10/2017
Actress Parineeti Chopra said she was "down in the dumps" for almost a year, but her brother Sahaj helped her in overcoming depression. "I think every human being who considers themselves to be emotionally evolved, always have this one very big event or one person who comes into their lives and completely changes the way they think. And I can say very confidently that happened in my life," Parineeti said in a statement. "A couple of years ago, I went through a very low phase emotionally in my...

My children gifting me handmade cards on my birthday makes the day special: Ronit Roy

17/10/2017
Ronit Roy will have a working birthday today. And the actor says it has always been like this for the past 15 years. “I usually shoot on my birthday, so the people I am working with end up celebrating my birthday on the sets. This year I am planning to take cake for everyone,” Ronit says, adding that he doesn’t believe in celebrating his birthday. Not the one to have an elaborate birthday celebration, Ronit says, “The person you see on screen has may layers and sub-layers, but in reality, I am...

Katrina’s dance is a guest appearance; if I dance, it’s an item song: Daisy Shah

17/10/2017
Actor Daisy Shah started her career as a dancer in choreographer Ganesh Acharya’s dance troupe and worked with him for almost a decade. But today, she is clear that she won’t take up any item song, even if she is offered one by the biggest of banners. Why? “Let me just make my mark as an actor first, and then an item song can be the second step. I am still in my struggling phase. I have to carve a niche for myself that’s my goal right now,” says Daisy, who has done films such as Jai Ho (2014) a...

Girls project their dreams and fantasies on me, but I’m an ordinary guy: Rajeev Khandelwal

17/10/2017
Rajeev Khandelwal doesn’t need any introduction. Nobody has seen the kind of popularity and fan following on television like him. His popular character of Sujal Garewal in hit show Kahiin To Hoga gave him the tag of a TV superstar in no time. Rajeev, however, quit the show at its peak to venture into films and try reality TV. For the millennials, specially girls, he will always be remembered for his romantic avatar as Sujal, followed by his tough portrayal in Left Right Left, and even as a host...

People across the world watch Indian films: Golshifteh Farahani

17/10/2017
Though predominantly known for her eclectic work in world cinema, exiled Iranian actress, Golshifteh Farahani, who lives in France, was also seen in Hollywood blockbusters like 'Body Of Lies' with Leonardo DiCaprio, 'Pirates Of The Caribbean: Dead Men Tell No Tales' with Johnny Depp and 'Exodus: Gods And Kings' with Christian Bale. The actress now shares screen space with powerhouse performer Irrfan in Anup Singh's 'The Song Of Scorpions'. BT spoke to the actress on her forced exile by the Iran...

RBI refuses to share details on clean India mission logo on new currency notes

16/10/2017
New Delhi: The Reserve Bank of India (RBI) has refused to share details of a decision to put the logo of Prime Minister Narendra Modi's pet project 'clean India mission' on the new Rs 500 and Rs 2,000 currency notes, citing security concerns among other reasons. Replying to an RTI query, the central bank also did not give a copy of the guidelines on printing of advertisement including promotion of central government-run initiatives on the notes. "The information on form, material, design and ...

Never talked about fiscal stimulus: Jaitley

16/10/2017
Washington: Finance Minister Arun Jaitley has said that he never talked about any stimulus package for boosting economy. The media has spoken about it and "you should ask" them on it, Jaitley said when asked whether the government was considering a massive fiscal stimulus package. "I have not used that phrase (fiscal stimulus). I said, we will respond to situations and your fraternity translated the word respond as meaning stimulus. So you are the ones who should be answering and not me," the...

Six of 10 most valued companies add Rs 76,383 crore in m-cap

16/10/2017
New Delhi: The combined market valuation of six of the 10 most valued Indian companies surged Rs 76,382.8 crore last week, with Reliance Industries Ltd (RIL) and TCS stealing the show with maximum gains. While ITC, Maruti Suzuki India, ONGC and SBI suffered losses in their market capitalisation (m-cap) for the week ended Friday, RIL, Tata Consultancy Services (TCS), HDFC Bank, HDFC, Hindustan Unilever Ltd (HUL) and Infosys saw gains. RIL's valuation zoomed Rs 25,235.21 crore to Rs 5,55,174.77...

Slowdown in economy bottomed out, 7% GDP growth likely this fiscal: Niti Aayog

16/10/2017
Ludhiana: Niti Aayog vice chairman Rajiv Kumar has said the economic slowdown that began in 2013-14 has bottomed out and the GDP is likely to grow 6.9-7%?this fiscal and 7.5%? in 2018-19. The economic growth slowed to 7.1%?in 2016-17, the year in which 87%?of the currency was demonetised, despite a very good show by the agricultural sector. On a quarterly basis also, the growth in the first quarter of the current fiscal has slipped to 5.7%. “I think by the time you come to the first quarter o...

CBEC to test online processing of trade documents

16/10/2017
New Delhi: To promote ease of doing business, the revenue department has decided to launch shortly paperless processing of documents at Chennai and New Delhi on pilot basis. In March 2016, the Central Board of Excise and Customs (CBEC) had stated that it was in process of procuring IT infrastructure to capture digitally signed copies of the supporting trade documents. "Under project 'Saksham', the CBEC has upgraded its IT infrastructure, which would inter alia be used for introduction of pape...

Indian economy on ‘very solid track’: IMF Chief Christine Lagarde

16/10/2017
Washington: Days after the International Monetary Fund lowered its growth forecast for the current and the next year, IMF chief Christine Lagarde said on Sunday the Indian economy is on a “very solid track” in the mid-term. “Turning to India...we have slightly downgraded India; but we believe that India is for the medium and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in India in the last couple of years,” the IMF Managing ...

Govt mulling 2-3 tariff-based auctions for wind projects

16/10/2017
New Delhi: Buoyed by the success of 2 tariff-based bidding for wind power projects, government will go ahead with 2-3 more such auctions for around 3 GW capacity, which may stagger to 2018, a senior official said. The tariff-based competitive bidding for 1 GW wind projects brought down the tariff to a record low of Rs 3.46 per unit in February this year which further dropped to all time low of Rs 2.64 per unit in a similar auction earlier this month. State-run Solar Energy Corporation of India...

India starts on implementation of motor pact with Bangladesh, Nepal

16/10/2017
New Delhi: India has embarked on implementation of the BBIN motor pact with Bangladesh and Nepal, Union Minister Nitin Gadkari said on Sunday. India in June 2015 had signed the major sub-regional transport project, Bangladesh-Bhutan-India-Nepal (BBIN) Motor Vehicles Agreement (MVA), for seamless transit of passenger and cargo vehicles among them. However, Bhutan could not get public and parliamentary support for it. "We have initiated action for implementation of BBIN MVA by Bangladesh, India...

US must decide appropriately on visa policy, Jaitley on H-1B

16/10/2017
Washington: Asserting that Indian IT professionals coming to America on H-1B visa are not illegal economic immigrants, Finance Minister Arun Jaitley has said that the US must decide appropriately while taking a decision on its visa policy. The H-1B visa is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations. It is the most sought after by Indian IT professionals. "Those coming from India on H-1B visas are high value professionals, who contribute i...

Razer smartphone with Snapdragon 835 SoC, 8GB RAM spotted on GFXBench

16/10/2017
New Delhi: Looks like there is no stopping the news concerning Razer’s first-ever smartphone. The phone which is pitched for “hardcore gamers” has popped up on GFXBench, ahead of its launch on November 1. It’s appearance on GFXBench gives us a good idea what the specifications are going to be like on the high-end gaming phone. PhoneRadar first spotted the listing of a “Razer Phone” (it has since been removed) on GFXBench. According to the listing, the upcoming premium phone will sport a 5.7-in...

China delays Railways’ ambitious high speed train project

16/10/2017
New Delhi: An ambitious high speed train project in south India has been delayed after Chinese railways, that completed a feasibility study a year ago, did not respond, railway officials have said, suggesting that the "lack of response" may be due to the Dokalam standoff. An internal brief of the Mobility Directorate on the status of nine high-speed projects of the railways, accessed by PTI, shows that the Chennai-Bangalore-Mysore corridor, a 492 km stretch, lies in limbo because the Chinese r...

India has high growth potential for next two decades: Jaitley

15/10/2017
Washington: India has the potential to grow at a reasonably high level in the next decade or two, owing to some structural changes by the government and a turnaround in the global economy, finance minister Arun Jaitley said on Saturday. The whole environment of doing business has changed in a matter of months, Jaitley told a Washington audience at an event organised by the US-India Strategic and Partnership Forum. “India has the potential to grow at a reasonably high level in the next one-two...

Weekly review: Market witnesses upswing; reclaims 32,000-level

15/10/2017
Mumbai: Market saw upswing for a second week in row, gaining 618.47 points to reclaim the psychological 32K-level to finish 32,432.69, while the broader Nifty registered fresh record close at 10,167.45. Bulls are in total command, despite the key indices witnessing shallow trade during first three sessions of the week, the market players took to its stride the IMF's lowered growth projection as well as increased prospects of interest rate hike by US federal reserve this year. Nervousness was ...

Cashew rises on buying support

15/10/2017
New Delhi: Cashew prices rose by Rs 5 per kg at the dry fruits market in the national capital today on increased buying support from retailers and stockists amid low stocks. Furthermore, fall in supplies from growing regions also supported the uptrend. Cashew kernel No 180, No 210, No 240 and No 320 rose by Rs 5 each to conclude at Rs 1,085-1,095, Rs 960-990 Rs 930-945 and Rs 835-845 per kg, respectively. Following are today's quotations (per 40 kgs): Almond (California-new) Rs 18,700-18,800,...

Vodafone Diwali 2017 offer: 90GB 4G data, unlimited voice calls at Rs 399

15/10/2017
New Delhi: To counter Reliance Jio, Vodafone has rolled out a new Rs 399 plan for prepaid users under its festive sale offers. Under this plan, people who recharge with Rs 39 will get 90GB 4G data for six months along with unlimited local and STD calls. Notably, data war in India has become intense, thanks to affordable 4G data plans by Reliance Jio. Telecom companies in India like Airtel, Idea, Vodafone, etc have resorted to aggressive data pricing to give more benefits to customers. Intere...

Apple to ditch Touch ID for 2018 iPhones

15/10/2017
San Francisco: There is early excitement for the iPhones releasing in 2018 and Apple is likely to ditch Touch ID feature and move to Face ID, said reports. Despite initially believing Apple might re-adopt the fingerprint technology an identity sensor that makes it easy for the user to get access to the device it is now likely that all 2018 iPhones will move to Face ID, 9to5Mac reported. "3D sensing will be a `key selling point` of all new 2018 iPhone models," Ming-Chi Kuo, KGI Securities analy...

India must go for pollution-free methanol as fuel: Gadkari

15/10/2017
Panaji: Union minister Nitin Gadkari has said India must use pollution-free methanol as fuel, like Sweden, which is switching over to it from diesel. He said that in a bid to reduce pollution at sea, the Centre has initiated talks with engine manufacturers to make bio-fuel compliant engines for ships. The Union Minister for Road Transport, Highways and Shipping also announced that the government is developing a river traffic control system on the lines of air traffic control. "We must use pol...

RBI’s policies anti-growth, says FICCI president Pankaj Patel

15/10/2017
Washington: FICCI president Pankaj Patel has slammed the Reserve Bank of India over its reluctance to cut interest rate, saying its policies were “not industry-friendly” and posed a hurdle in the country’s economic growth. In its latest monetary policy review on October 4, the Reserve Bank of India had kept the policy rate unchanged at 6% even as it cut the growth forecast to 6.7% for the current fiscal. Patel said such a move was “anti-growth”. “RBI is not behaving properly. It (RBI policy) is...

BIS Act comes into force from October 12, to bring more services under regime: Govt

15/10/2017
New Delhi: The much-awaited Bureau of Indian Standards (BIS) Act has come into effect from October 12 with a provision to bring more services and products like jewellery under the mandatory standard regime. Parliament had in March 2016 passed the law to replace the BIS Act of 1986. The consumer affairs ministry finalised the rules for the new law only this week. “The new law will further help ease of doing business in the country,” consumer affairs minister Ram Vilas Paswan said in a statement...

Indian Railways to introduce airline-like food, passengers may have to pay more

15/10/2017
New Delhi: In a bid to improve the quality of food served in trains, Indian Railways has decided to change its menu. As per reports, the railways is planning to copy the menu card of airlines. Soon the passengers will be served dry food items similar to flight food. The Railway committee, set up to work on the menu, has submitted its report to board. Based on it, the board will soon come out with a decision, reports said. However, with the change in menu, price rationalisation will also be mad...

IMF favors three structural reforms in India

15/10/2017
Washington: The IMF has suggested a three- pronged approach for structural reform in India that includes addressing the corporate and banking sector weaknesses, continued fiscal consolidation through revenue measure, and improving the efficiency of labour and product markets. Deputy Director Asia Pacific Department of IMF, Kenneth Kang, said the favorable outlook for Asia was an important opportunity for India to push forward with difficult reforms. "As such, there should be three policy prio...

“Positive mood” about India in US: Jaitley

14/10/2017
Washington: There is a "positive mood" about India in the US and the American investors have a clear understanding of the reforms that the government is undertaking for the expansion of the economy and its future potential, Finance Minister Arun Jaitley has said. Jaitley, who is on a week-long visit to the US, is leading a high-powered Indian delegation to attend the annual meeting of the International Monetary Fund and the World bank. He has already visited New York and Boston wherein he add...

Govt invites private players to buy out 51% in Pawan Hans

14/10/2017
new delhi: The government today invited bids from private companies, including foreign ones, to buy out its entire 51 per cent stake along with management control in helicopter service operator Pawan Hans Ltd. The Miniratna PSU is under the administrative control of the civil aviation ministry and the remaining 49 per cent stake is held by oil behemoth ONGC. In a "global invitation for expression of interest", the government asked private players to submit the bids by December 8. "The govern...

Aadhaar helped Indian govt save $9 billion: Nilekani

14/10/2017
Washington: The Indian government's Aadhaar card scheme, which has enrolled more than 1 billion people, has helped the exchequer save about USD 9 billion by eliminating fraud in beneficiary lists, its architect Nandan Nilekani has said here. The system, launched by the previous UPA government, has been "enthusiastically" supported by the current government led by Prime Minister Narendra Modi, and Finance Minister Arun Jaitley, said the 62-year-old non-executive chairman of Infosys -- India's s...

Niti Aayog working with states for agri market reforms

14/10/2017
new delhi: Aiming to double farmers' income by 2022, the federal think-tank Niti Aayog on Friday said it is working with states to adopt first set of agri market reforms, including contract farming, online spot and futures trading besides encouraging private investment. Following a direction from Prime Minister Narendra Modi, a comprehensive agenda has been prepared to bring transformation in agriculture, which has not been liberalised like other sectors since 1991, it said. Speaking at an ev...

IMF welcomes NAFTA negotiations

14/10/2017
Washington: The IMF today defended the ongoing NAFTA negotiations with its chief Christine Lagarde arguing that any trade deal that is two decades-old needs to be revised and reviewed. "For a trade agreement which has been in existence for, what, 20 years now, it is not unusual or unnecessary to actually look into it, go under the skin of the agreement, find out what works, what does not work, what can be improved, what new topics should be considered -- given the changes that have affected th...

Head of Samsung’s booming semiconductor business to resign

14/10/2017
Seoul: The chairman of Samsung Electronics Co.'s board of directors, who has been the public face of the company after its de facto chief was jailed on corruption charges, said today he will resign next year to make way for a new leader. "As we are confronted with unprecedented crisis inside out, I believe that time has now come for the company to start anew, with a new spirit and young leadership to better respond to challenges arising in the rapidly changing IT industry," Kwon Oh-hyun, 65, s...

LIC Housing moves NCLT to recover Rs 31 crore loan from DB Realty

14/10/2017
new delhi: LIC Housing Finance has filed an application before the National Company Law Tribunal (NCLT) to start insolvency process against DB Realty for recovery of Rs 30.63 crore outstanding loan, the Mumbai-based developer said. DB Realty said both the parties are in talks to settle this outstanding loan. In a filing to the BSE, DB Realty informed that the company had availed of Rs 200 crore loan from LIC Housing Finance Ltd in January 2010 and out of that, Rs 188 crore were disbursed to i...

Not acceding to Indian jurisdiction in tax case: Vodafone to HC

14/10/2017
new delhi: Vodafone Group on Friday told the Delhi High Court that it is not submitting to the jurisdiction of the courts here regarding the arbitration process initiated by it against India in connection with a tax demand of Rs 11,000 crore. The company has initiated arbitration proceedings under the India-United Kingdom Bilateral Investment Protection Agreement (BIPA) in connection with the tax demand raised against the company in relation to its USD 11 billion deal acquiring the stake of Hu...

Feasible to sell petrol via e-commerce, but safety needs priority: Experts

14/10/2017
new delhi: Aiming to give a major push to digital drive, the government is planning to put petrol and diesel along with its various products on e-commerce platform. But is it a feasible idea? Domain experts say it is feasible but high safety measures need to be adopted. "Can we connect oil with IT and telecommunications? We plan to put all petroleum products on e-commerce platform," Oil Minister Dharmendra Pradhan said while addressing at the recent India Mobile Congress here. According to...