business - FreePress India

Tata Motors reports robust sales growth in July

August 4, 2009 by Editor's Desk

Automobile major Tata Motors has reported a splendid sales performance in the month of July 2009. While there was an all-round increase in domestic sales, exports tumbled 33.50% in the month under review. Sales of passenger cars in the domestic market rose by 17.33% at 17,191 units, as compared to 14,652 units in the corresponding … Read more Tata Motors reports robust sales growth in July

Omaxe City, Bathinda – Luxurious and expandable Villas

August 3, 2009August 3, 2009 by Editor's Desk

Omaxe City is approved by the Punjab Urban Planning & Development Authority (PUDA) and would be developed with an investment of approximately Rs 200 crore.

The villas with modern amenities will be available at prices starting from Rs 17.47 lakh and with an option of constructing 2-4 bedrooms. They are situated just two kilometers away from the Delhi Public School. Applications for these are invited till August 18 and draw is scheduled just four days post that on August 22, 2009.

Recently, Omaxe launched its comfortable, secure, friendly and affordable homes project named as Omaxe New Heights in sector 78 of Faridabad, valued at around Rs 70 crore.

Sun Pharma resolves litigation with MedImmune over Ethyol

August 3, 2009August 3, 2009 by Editor's Desk

Pharma major, Sun Pharmaceutical Industries has settled its legal tussle with MedImmune over the generic version of Ethyol.

The company, along with its subsidiaries (collectively, Sun Pharma), has executed a settlement agreement with MedImmune, stipulating the dismissal of the lawsuits filed in the US district court for the district of Maryland regarding the submission of an Abbreviated New Drug Application (ANDA) for a generic version of Ethyol.

Tata Motors to roll out 60 K Nano by July 2010

August 3, 2009August 3, 2009 by Editor's Desk

Country’s largest auto maker Tata Motors is expected to supply up to 60,000 units of the Nano, dubbed as the world’s cheapest car, to the consumers by July next year and remaining committed to handing over the first one lakh cars by 2010 on operationalization of its mother plant in Sanand, likely to be ready … Read more Tata Motors to roll out 60 K Nano by July 2010

RBI sees need to revive private expenditure to boost growth

August 3, 2009August 3, 2009 by Editor's Desk

India’s monetary authority Reserve Bank of India (RBI) said that the main challenge to revert to a high growth path was to revive private consumption and investment expenditure. Governor of the RBI Duvvuri Subbarao said at an industry event that government will have to ensure a pick up in private expenditure as well.

The government is running a fiscal deficit of 6.8% in the current fiscal, highest in the post liberalization era, which according to the finance minister was a deliberate strategy to push growth through increased government expenditure. While the move is sure to help in expansion, the government cannot sustain the deficit at such high levels in the medium run and therefore the road to climb back to high growth levels will only be through stimulating private investment and consumption levels going forward.

FDI policy in Real Estate – 3 Years Lock in for Foreign Capital to Curb Speculation

August 1, 2009July 31, 2009 by Editor's Desk

Foreign Invetors, mostly speculators have now been instructed that their investment in real Estate in India will be locked in for 3-years. We had asked the Indian Government for a 5-year lock-in for Residential Real Estate and keep the Commercial/ SEZ and Retail real estate for FIIs to speculate but with pressure from retailers and other big companies, the Government decided to extend FDI Lock-in for any foreign investment in real estate.

The main document governing the FDI in property business presently is the March 2005 press note 2 which spells out that original investment by a foreign investor cannot be repatriated before a period of three years from completion of minimum capitalization. Also, as per the FDI norms prevalent currently, a foreign investor has to bring in at least a minimum amount of $5 million