business

Beleaguered Real Estate Company, Unitech Ltd has informed that the aggregate no of shares pledged by the promoter or every person forming part of the promoter group is 803350407 constituting 49.48% of the outstanding shares of the Company. Prakausali Investments (India) Pvt Ltd Mayfair Investments Pvt Ltd Mayfair Capital Pvt Ltd Tulip Investments Ltd R … Read more Unitech promoters pledge 49.5% shares

HBL Power Systems is in the process of setting up of a Joint Venture Company (JVC) in the Kingdom of Saudi Arabia (KSA) with Advance Electronics Company, a Government Offset Partner Company and Abdullah H Al Shuwayer & Sons T&C Co as local JV partners. HBL Power Systems will have a 40% stake in the … Read more HBL Power to set up a JVC in Kingdom of Saudi Arabia

India’s power equipment manufacturers have asked the government to extend infrastructure status to help the power sector counter the impact of economic downturn. Indian Electrical and Electronics Manufacturers’ Association (IEEMA) is also seeking exemption from income and service taxes available to power utilities along with excise tax cuts. The industry body said that fiscal incentives … Read more Pre Budget Talk: Power Equipment Manufacturers + Banks ask for Service Tax Break

India’s major insurer – Life Insurance Corporation of India (LIC) – is all set to launch its credit card – LIC Credit Card before end-March, a company official announced. The insurer had earlier scheduled the launch of its credit card for January. However this was deferred due to some technical reasons. LIC has inked pact … Read more LIC credit cards by end of March with Corporation Bank

Hindalco Industries’ board, at its meeting held on February 14, 2009, has considered and approved to undertake a financial restructuring exercise wherein the company, along with other activities as would be provided in detail under the scheme or petition, proposes to earmark, allocate and credit to its Business Reconstruction Reserve Account, an amount as may … Read more Hindalco Industries to take a financial restructuring exercise

Pranab Mukherjee, who holds the additional charge of the finance portfolio, will present the Interim Budget for 2009-10 today at 11:00 am Indian Standard Time (IST). Pranab met Prime Minister Manmohan Singh on Sunday and discussed budget-related issues with him. The PM has approved the interim budget speech, after which it was forwarded to the … Read more Pranab Mukherjee to present Interim Budget at 11:00 am