Free Press Journal
  • Govt okays Idea-Voda merger, some formalities pending: Sinha

    New Delhi : Telecom Minister Manoj Sinha said on Wednesday that the government has approved the Idea Cellular and Vodafone India merger, the sector’s biggest, but the companies need to complete some formalities for the final closure of the deal.

  • Large cos may have to tap bond market for fund raising

    Mumbai : Markets watchdog Securities and Exchange Board (Sebi) will soon come out with a consultation paper on making it mandatory for large corporates to meet one-fourth of their financing needs from bond markets.

  • Net neutrality, telecom policy get approval

    New Delhi : The Telecom Commission on Wednesday approved net neutrality rules which bar service providers from discriminating against Internet content and services by blocking, throttling or granting them higher speed access.

  • GoM weighs lowering GST on ethanol to 12%

    New Delhi : A ministerial panel on Wednesday mooted GST reduction on ethanol from 18 per cent to 12 per cent but did not favour imposing cess on sugar as arrears to cane farmers are already declining.

  • ED seeks court order declaring Nirav Modi, Choksi as fugitives

    Mumbai: The Enforcement Directorate (ED) on Wednesday approached a special court here seeking its order to declare diamond merchants Nirav Modi and his uncle Mehul Choksi — both accused in over Rs 13,500 crore Punjab National Bank (PNB) loan fraud case — as fugitives because they fled from India a month before they were named in the multi-crore fraudulent case. The ED filed two separate applications requesting the designated court to issue

  • LIC-IDBI deal may conclude by September

    New Delhi : LIC is preparing itself to complete the 51 per cent acquisition of debt-ridden IDBI Bank by the end of September, sources said.
    Life Insurance Corporation (LIC) is doing due diligence of IDBI Bank, its assets, debt position and fixed assets, sources added. Besides, LIC also intends to make an open offer to minority shareholders of IDBI Bank. As per Sebi takeover code rules, an acquirer has to give an open offer

  • Fortis to decide on binding bids tomorrow

    Mumbai : Cash-strapped Fortis Healthcare, which is in the process of finding a new investor, on Wednesday said its board will meet on July 13 to decide on its preferred bidder and consider raising funds through issue of securities on a preferential allotment basis.

  • PNB, Carlyle to sell 51% stake in housing fin arm

    New Delhi : Punjab National Bank (PNB) and Carlyle Group plan to initiate the process to sell at least 51 per cent stake in the mortgage lender PNB Housing Finance, the state-run bank on Wednesday said.

  • Bajaj Hindusthan to sell Lalitpur Power stake

    New Delhi : Bajaj Hindusthan Sugar plans to sell its entire 17.51 per cent stake in the group firm Lalitpur Power Generation Company (LPGCL), estimated to be worth Rs 1,100 crore.

  • Vistara to buy 19 Airbus, Boeing jets for $3.1 bn

    New Delhi : Vistara on Wednesday said it would place orders for 19 Airbus and Boeing planes worth $3.1 billion (over Rs 21,300 crore) and induct 37 more aircraft from A320 neo family on lease, as it embarks on “aggressive expansion”, including flying overseas.

  • India plans rules to regulate e-commerce

    Geneva : India is in the process of framing rules to regulate the e-commerce sector, which is expected to touch $120 billion by 2020, Food and Consumer Affairs Minister Ram Vilas Paswan said on Wednesday.