COMPANIES & SECTORS


Sanjay Dutt, director of Quantum Securities and a long-term shareholder of NDTV has alleged that chairman Prannoy Roy received irregular promoter funding of Rs375 crore by pledging NDTV shares which, according to him, is against the RBI rules In August 2011, Moneylife wrote: “NDTV got...

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Moneylife Digital Team 24 June 2013
After passing its attachment orders, SEBI informed all the banks, depositories, mutual funds and NBFCs, among others, about the matter and also requested the RBI to direct the chiefs of the banks to transfer the money of Sahara firms to a designated SEBI account   Market regulator...

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Moneylife Digital Team 22 June 2013
Commenting on the development, ibiboGroup CEO Ashish Kashyap said: “We see this as an exciting market opportunity. Online penetration of the bus market is only 5.7% compared to 28% for air travel, suggesting headroom for rapid future growth” E-commerce firm ibiboGroup on Friday said it...

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Moneylife Digital Team 21 June 2013
Pan Asia Advisors and its promoter Panchariya and Indian companies created a scheme to mislead Indian investors about the inflow of foreign investment through GDRs   Market regulator Securities and Exchange Board of India (SEBI) has barred Pan Asia Advisors, now known as Global...

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Moneylife Digital Team 21 June 2013
Minority shareholders are once again at the receiving end after the company sells off its business to a multinational; auditors sign off on the accounts despite several glaring irregularities in the books. What is really going on? Laffans Petrochemicals (Laffans) is an example where...

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Moneylife Digital Team 21 June 2013
The airport project contract awarded to GMR for modernising and operating the Ibrahim Nasir International Airport, signed in 2010 during the previous regime of Mohamed Nasheed, was ‘unilaterally’ terminated by the current government on 27th November last year Indian infrastructure major...

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Moneylife Digital Team 21 June 2013
“There will be small increase in power tariff. It will be very marginal increase on unit cost of power depending upon the cost of import of coal,” finance minister Chidambaram said Electricity tariff across the country will increase by a minimum 15 to 17 paise per unit after the...

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Moneylife Digital Team 21 June 2013
The Cabinet Committee on Economic Affairs (CCEA) has cleared 5% stake sale of Neyveli Lignite through an offer for sale so that the company can meet the SEBI deadline on public shareholding The government today approved the government’s 5% stake sale in Neyveli Lignite (NLC), which would...

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Moneylife Digital Team 21 June 2013
Vodafone is second to get spectrum allocation among firms that participated in the November 2012 auction.  Videocon was the first company that received spectrum from DoT in March, while rest of the firms are yet to receive spectrum   The government has allocated spectrum to Vodafone...

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The tendency to obtain prized allocations for much-needed coal but not do any development work causes legitimate users to suffer and national progress is impeded. Lame excuses will no longer be tolerated Last year, Union coal minister Sriprakash Jaiswal finally took the bold step of...

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Moneylife Digital Team 20 June 2013
Moneylife Foundation has been receiving complaints from its members that they are not receiving their fixed deposit maturity amounts from two Yash Birla Group companies namely Zenith Birla (India) and Birla Power Solutions. Is there financial trouble brewing in the group? The economic...

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Once the Smartgrid plan is implemented by Power Grid Corporation, it expects to prevent tripping and help in smooth flow of power. But, as a sequel to setting up the Smartgrid, state electricity distribution companies will have to upgrade their inter-state checking transmission...

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Moneylife Digital Team 19 June 2013
About 70% of the 1,949 square kilometres of the block falls in an area where DRDO and Navy exercises are conducted and has been classified as “Impact Zone” where oil and gas operations are not possible, BP said   UK’s BP plc has asked the Indian petroleum ministry to compensate for a...

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With concerns like moderating growth and regulatory overhangs still present, telecom stocks are moving up even on slightly positive news    Shares of telecom companies Ideal Cellular (Idea), Reliance Communications (RCom) and Bharti Airtel (Airtel) have been on the upmove for a while...

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Moneylife Digital Team 19 June 2013
The EU has imposed a fine of Euro 93.8 million on Danish pharmaceutical company Lundbeck and fines totalling Euro 52.2 million for delaying market entry of cheaper generic versions of Lundbeck’s branded citalopram   The European Commission (EU) today imposed a fine of Euro 146 million...

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Moneylife Digital Team 19 June 2013
The auto manufacturer stated that the vehicles had met all the safety regulations at the time of its manufacturing. However, critics had pointed out that because the gas tanks were placed behind the rear axle of the SUVs, the chances of the cars catching fire in rear-end collisions were high

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Moneylife Digital Team 19 June 2013
The decision comes following the appeal by the Delta Airlines and the Airline Pilots Association of a lower court decision in July 2012 that determined that the Exim Bank improperly approved financing for purchases of certain Boeing aircraft by Air India   A US court has rejected a...

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Moneylife Digital Team 18 June 2013
The Bill being pushed by the Obama administration gives the domestic IT professionals in the US a 60-day period to find a new job after they lose the existing one, among several other sweeping reforms   Software services industry body Nasscom today raised concerns over proposed...

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Moneylife Digital Team 18 June 2013
Passengers carried by domestic airlines between January and May this year stood at 259.98 lakh, compared with 258.08 lakh in the same period last year, registering a growth of 0.74%   Domestic air passenger traffic marginally grew by less than a percentage point in the first five...

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Moneylife Digital Team 18 June 2013
Among the notable proposals cleared by the Board were the Rs962 crore proposal of Vijay Television for acquisition by foreign promoters and Korea Western Power Co’s proposal to invest in an Indian company to the tune of Rs270 crore   The government has approved 16 projects involving...

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