For the first time, an entry from the South Asia region will go to compete at the international level. Kadakia would represent South Asia at the 30 Global Dorm Room Student Entrepreneur of the Year Award on November 17.
"Out of the total loan amount of Rs 1,500 crore, we have raised Rs 500 crore (Rs 5 billion) from various banks and for the rest of the amount, we are still in talks with the them (banks)," MTNL Chairman and Managing Director Kuldip Singh said on the sidelines of an event.
World Bank customarily withdraws fund for a project that has not been built in seven years.
The telecom PSU plans to get back in black in two years; BSNL too has started discussions to lease out its towers.
The report said that out of them, six are generation companies, 11 distribution firms and one transmission entity. The process of privatisation is being handled by Nigeria's Bureau of Public Enterprises (BPE).
The state-run firm has invited about 45 lenders -- both domestic and international -- to present its future vision in Mumbai on the first week of the next month.
The government is planning to offload stake in HMT Bearings Ltd (HBL) and is scouting for joint venture partners in some other state-owned firms in a bid to revive sick units.
Changing the rules of the game for developers or units who have already committed funds upsets the financial calculations that guided the investment decision. It is another matter if the government makes it clear that newcomers will be subject to taxes.
Reliance Industries Ltd (RIL) has opposed the proposal of a new pipeline from Kakinada to Srikakulam floated by Andhra Pradesh Gas Infrastructure Corporation (APGIC). RIL has argued that gas availability for the pipeline is uncertain and will not contribute to the development of a national gas grid.
Oil regulator PNGRB has virtually put Reliance Industries Ltd (RIL) on notice by inviting bids for sections of two natural gas pipelines that were previously awarded to the Mukesh Ambani-run firm.
Vedanta Aluminium is sourcing half of its bauxite requirement from Bharat Aluminium Company's mines.
Reliance Infrastructure (R-Infra), an Anil Dhirubhai Ambani Group company, is on the warpath with the state electricity regulator. Stung by the Maharashtra Electricity Regulatory Commission's (MERC's) decision to invite expressions of interest (EoIs) for the distribution of power to Mumbai's suburbs, R-Infra is examining the possibility of legal action.
In its meeting in New Delhi, the inter-ministerial Board of Approval also approved India's largest stainless steel producer JSL's proposal to surrender its sector-specific SEZ in Orissa, Commerce Ministry Additional Secretary D K Mittal told PTI.
The proposed Direct Taxed Code (DTC) is likely to adversely affect the exponential rise in exports from special economic zones (SEZs).
It is a sign of evolution in filmmaking, writes Sukanya Verma.
Expressing serious concerns over the DTC Bill, SEZ entrepreneurs on Tuesday said the proposed tax provisions would hit employment and drive away investors from the special economic zones.
The MSP tender, considered as one of the largest information technology outsourcing contracts floated in India, is estimated to be in excess of Rs 1,000 (Rs 10 billion) crore for the 7-10-year lifespan of the project.
However, several other Indian products continue to be in this list.
It is better to learn from experience and suggestions than go through a formal process, feels photographer and avid traveller Avinash Anand.
Investors and EOW waded through a maze of legal obstacles to get their hands on the 'kingpin'.
The last date for receiving EoIs is February 28, after which a new reserve price will be announced.
Rentals for commercial complexes fell sharply and the land, developers felt, could be employed for other purposes.
The new Special Economic Zones, including the Reliance Industries' Jamnagar refinery, would help increase India's SEZ exports by 40 per cent this fiscal, righting partially the dismal picture of the country's total exports, according to government estimates.
The airlines is in talks with Oman Air and Etihad.
Around 27 Indian IT firms, including majors like Tata Consultancy Services (TCS), Infosys Technologies and Wipro Ltd, are understood to have submitted their expressions of interest (EoIs) to develop a technology platform for the Centre's Crime and Criminal Tracking Networks and Systems (CCTNS) project.
The deadline for these overseas mining firms for responding to CIL's EoI notice is August 31 this year.
MTNL intends to allow one successful bidder each in its licensed area of Delhi and Mumbai for the deployment and operation of its Wi-Max system on exclusive, revenue-sharing basis. The network proposed to be deployed should provide fully converged broadband data and voice services such as access to internet, VPN clients, QoS to individual subscribers and cell support video conferencing, the PSU in said its global expression-of-interest notice.
State run MTNL has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest for 3G Services Franchisee.
One of the most sought after exhibitions in Asia, as many as 549 companies are participating this year with 53 fighter aircraft on display.
An announcement to this effect could be made in the Budget scheduled to be unveiled by finance minister Pranab Mukherjee in the Lok Sabha on July 6. The decision to permit SEZ developers to raise ECBs, sources said, would promote development of the special economic zones, besides helping the government in arresting decline in the foreign exchange reserves.
Developers will now be able to get their land classified as an SEZ at the initial stage of approval by submitting legal documents that prove land ownership. With exports falling sharply in the last six months, faster development of SEZs is seen as one way of increasing overseas sales of Indian goods and services, an official said.
'We are going to see relatively soon an executive order that deals with H-1B and other temporary visas.' 'We are also going to see an executive order on undocumented people.' 'Undocumented Indians comprise the largest population growth of all undocumented people in this country.' 'Just because India is not named in this executive order doesn't mean it won't be in the future.'
Move aimed at strengthening Sebi's powers to investigate market-related offences.
Soma Networks, a US-based provider of mobile Worldwide Interoperability for Microwave Access (WiMAX) products and services, plans to launch compact WiMAX-enabled devices in India within six months.
German prosecutors launched an investigation on Monday into fraud allegations against former Volkswagen boss Martin Winterkorn.
The Export Oriented Unit status of Reliance Industries' Jamnagar refinery in Gujarat has ended, allowing the company to sell petrol and diesel locally including through its 1,432 now-closed petrol pumps.
iGate had in a statement on Friday evening said that it had dropped its bid for Satyam on 'further analysis'. Clarfying his stand last week that iGate would be keen to bid for Satyam at an offer price of below 90 cents a share, Murthy said, "Had we decided to pursue the bid, the share price would have had no bearing on our offer price as we would have bid at a price we thought was a fair valuation."
The government-appointed board of Satyam Computer Services will meet on Friday to scrutinise the bids for a 51 per cent stake in the company and decide a schedule for completing the selection process.
Satyam on Thursday closed registrations for potential bidders as it began a process to sell 51 per cent stake in the company, which is caught in the country's biggest corporate scandal. The board will make the financial and legal data available to those shortlisted companies who will qualify in the EoI criteria.
L&T is the largest single shareholder in Satyam holding a 12 per cent stake in the IT firm.
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