Mumbai, Apr 4 (PTI) IndiGo co-promoter Rakesh Gangwal on Monday signed a pact with IIT-Kanpur to jointly set up a school of Medical Sciences and Technology on the latter's campus. Gangwal, an alumnus of IIT-Kanpur, will also donate Rs 100 crore to establish the college. Besides, Gangwal will also be joining the Advisory Board of [...]
New Delhi, Apr 4 (PTI) The Supreme Court on Monday asked the Future Group and Amazon to jointly urge the Delhi High Court on April 5 to first hear the enforcement petitions of the US e-commerce major which also relate to the preservation of assets of Future Retail Limited (FRL). Amazon and Future Group are [...]
New Delhi, Apr 4 (PTI) Indian Oil Corporation (IOC), the nation's top oil firm, will partner Larsen & Toubro and Goldman Sachs-backed renewable energy producer ReNew Power to produce green hydrogen as it follows the footsteps of groups headed by billionaires Mukesh Ambani and Gautam Adani to produce carbon-free fuel. The three firms have signed [...]
New Delhi, Apr 4 (PTI) In efforts to reduce the compliance burden and make assessments more objective, Competition Commission of India (CCI) has revised the long form format for submission of details related to mergers and acquisitions. Under the Competition Act, Mergers and Acquisitions (M&As) or combinations beyond a certain threshold require approval from the [...]
New Delhi, Apr 4 (PTI) Leading multiplex operators Inox Leisure and PVR, which had announced their merger last month, have a combined pipeline of 2,000 screens and aim to double this size in next seven years, entailing an investment of Rs 4,000 crore. The merged entity would invest capex of Rs 2.5 crore per screen [...]
Mumbai, Apr 4 (PTI) India's largest private lender HDFC Bank on Monday agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating a financial services titan in the largest deal in the country's corporate history. The proposed entity will have a combined asset base of around [...]
New Delhi, Apr 4 (PTI) A Parliamentary panel has urged the government to release an advance amount of Rs 5 crore each to parliamentarians this fiscal under the MPLAD scheme for 2023-24 to enable them to complete the projects.The Member of Parliament Local Area Development (MPLAD) scheme was suspended during the COVID-19 pandemic for two [...]
Competition Commission on Monday ordered a detailed probe against food delivery platforms, Zomato and Swiggy, for alleged unfair business practices with respect to their dealings with restaurant partners. The order has come on a complaint filed by the National Restaurant Association of India (NRAI). The watchdog's probe arm -- Director General (DG) -- will investigate [...]
Mumbai, Apr 4 (PTI) Shares of HDFC and HDFC Bank witnessed heavy buying on Monday and settled with nearly 10 per cent gains as investors lapped up the announcement of their proposed merger. The scrip of HDFC settled at Rs 2,678.90, registering a jump of 9.30 per cent. It had scaled an intra-day high of [...]
Kolkata, Apr 4 (PTI) Crisil has been engaged as consultant for the proposed coal trading platform announced by the government and the exchange may take shape in the next 6-9 months, a senior government official said on Monday.The official said it will take forward the concept of forming the exchange for trading coal mined from [...]
