Vodafone India Chairman Analjit Singh meets FM
New Delhi: Vodafone India Chairman Analjit Singh met Finance Minister P Chidambaram with a fresh proposal for early resolution to the tax dispute over which government has offered conciliation. Vodafone is believed to offered to pay USD 650 million (Rs 3,900 crore) towards tax dues, as against the government’s demand of USD 1.4 billion (Rs 8,400 crore), sources said. Singh’s meeting follows the British telecom firm seeking time to reply to Revenue Department’s offer for a non-binding conciliation under the Indian laws. While Vodafone had shown keenness to go in for arbitration under the United Nations Commission on International Trade Law (UNCITRAL) law, India has proposed conciliation under the Indian Arbitration and Conciliation Act.
IIFCL contributes Rs 1 cr to Relief Fund
Mumbai: Being a socially responsible organization, IIFCL presented a cheque of Rs 1 crore to the Prime Minister’s Relief Fund as its token contribution towards rebuilding of the state of Uttarakhand in the wake of the devastation and destruction caused by recent flash floodsunder its Corporate Social Responsibility initiative. Dr. Harsh Kumar Bhanwala, Chairman & Managing Director of IIFCL, expressed his grief and said that IIFCL as an infrastructure financing institution would make all efforts to support the redevelopment of infrastructure facilities in the region.
SAIL steel production up by 6% in Q1
New Delhi: State-run Steel Authority of India (SAIL) said its production grew to 3.2 million tonnes, the highest-ever in the first quarter, clocking a six per cent rise over the same period last year. “In the first quarter of FY’14, SAIL has registered impressive growth in various production and techno-economic parameters,” SAIL said. Production during June, 2013 was at 1.08 million tonnes, higher by seven per cent compared to same month last year. SAIL said its value-added steel production also touched the highest during the quarter to 1.28 million tonnes.
Govt allots Chhindwara mine to CIL
New Delhi: Struggling to enhance output, the world’s largest coal miner Coal India Limited (CIL) received a shot in the arm with the government announcing the allocation of Chhindwara mine to it. The mine is located within the migratory corridor between Pench and Satpuda Tiger Reserves in Madhya Pradesh. The move follows the Environment Ministry allowing mining in the block on the condition that it be notified as a CIL block.
Bajaj Auto bike sales down 20 pc in June
New Delhi: Bajaj Auto reported a 20% decline in its motorcycle sales at 2,54,544 units in June 2013. The company had sold 3,18,377 units in the same month last year, Bajaj Auto Ltd (BAL) said in a statement. BAL said exports were, however, up by 3.73% during the month at 1,20,399 units compared to 1,16,062 units in June, 2012.
Bring paper to life with ToyKraft
Mumbai: Toykraft introduces Paper Quilling set for children to explore the ways of creating life out of colorful paper strips. These paper-quilled birds serve as a great embellishment for pencil tops. The cavity in the model fits snugly on the pencil top. With these beautiful pencil caps on offer, it’s a must have for every child’s pencil specially this season which brings us close to nature.
Voltas hikes AC prices by up to 5%
New Delhi: Tata group firm Voltas said it has increased the price of its air conditioners by up to 5% to offset rising input cost due to rupee depreciation against dollar. “Quantum of increase would be somewhere between 3-5%,” Voltas Chief Operating Officer Pradeep Bakshi told PTI. Voltas ACs are priced at a range of Rs 13,000 to Rs 50,000 across different models.