IPA Special

Coal India Sweetens Terms For Land Acquisition

KOLKATA: Under pressure to step up production, Coal India Ltd (CIL) has sweetened its offers for land acquisition. The new rehabilitation and resettlement (RnR) policy was recently approved by the CIL board. According Mr R. Mohan Das, Director (personnel and IR), in addition to price of land, the Indian...

Mar 20 · >

Foreign VCs Can Invest In Market Via Third Parties

MUMBAI: In its bid to deepen the equity and debt markets by attracting overseas funds, the Reserve Bank on Monday allowed foreign venture capital investors to invest in securities through private arrangements or purchase from a third party. “It has now been decided to allow foreign venture capital investors...

Mar 20 · >

Mega Power Plant Equipment Imports Will Attract 21% Duty

NEW DELHI: The government, which has extended help to the crisis-ridden power sector by removing duty on imported fuel and opening access to cheap overseas funds, is likely to whittle down the benefit with an impost on imported equipment for mega power projects. A duty of 20.94% will be...

Mar 20 · >

Tax-Free Infra Bonds May Lose Sheen In 2012-13

MUMBAI: The optimum utilisation of the enhanced Rs 60,000-crore limit for issuing tax-free infrastructure bonds by companies seems unlikely. This is despite the government trying hard to boost infra development in the country by doubling the issuance limit for such bonds, which received a euphoric response in 2011-12. Firms...

Mar 20 · >

QFI Road To Indian Corporate Bonds May Be Bumpy

MUMBAI: The government has opened the doors for qualified foreign investors (QFIs) to the developing corporate bond market in India. However, the country would need more than just higher yields to attract fund inflows from this segment. On Friday, Finance Minister Pranab Mukherjee had made the announcement when he...

Mar 20 · >

India Inc Feels Tremors Of Finance Minister's Tax Proposals

MUMBAI: The unbridled freedom and powers given to tax authorities in this year’s Budget could spark a furious face-off in the coming months between companies determined to protect their profits in a slowing economy and an equally resolute tax department eager to wrest every last bit of revenue, experts...

Mar 20 · >

Kolkata Businessman In Talks To Acquire 90% Stake In Rajasthan Royals

NEW DELHI: A little-known Kolkata-based businessman is close to buying a majority stake in Rajasthan Royals for around $200 million, making it the first time an IPL team could change hands in the format’s brief yet eventful fiveyear history. Mannoj Kumar Jain, who heads the obscure Jain Group of...

Mar 20 · >

Moody's Downgrades Union Bank Of India

MUMBAI: Rating agency Moody’s on Monday downgraded the rating for Union Bank of India (UBI) by a notch, owing to weak asset quality and inadequate loss-absorption capacity. The move comes a day before its shareholders meet to approve a proposal on issuing fresh shares to the government and Life...

Mar 20 · >

Sensex down 193 pts on Budget blues, weak global cues

Mumbai: The BSE benchmark Sensex today fell 193 points to 17,273.37, on sustained selling by funds against the backdrop of uninspiring budgetary proposals last weekend and a weak global market. Realty, power and capital goods sectors continued to slide as the stock market remained bearish for the third session in...

Mar 19 · >

India world's largest recipient of arms, says study

Stockholm, March 19:  India is the world’s largest recipient of arms while South Korea is second and Pakistan and China are third in the list, reveals data on international arms transfers published by the Stockholm International Peace Research Institute (SIPRI). The volume of worldwide arms transfers in 2007-11 was...

Mar 19 · >