Unitech promoters pledge 49.5% shares

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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

ISPs set to oppose new TRAI regulation

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A host of Internet Service Providers (ISPs), including few telcos, have opposed TRAI’s regulations to ensure that ISPs provide internet connections based only on the capacity of traffic they can carry. TRAI has proposed to introduce norms that would mention the ratio between the number of customers per unit bandwidth. The average international contention ratio … Read more ISPs set to oppose new TRAI regulation

Pre Budget Talk: Power Equipment Manufacturers + Banks ask for Service Tax Break

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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

LIC credit cards by end of March with Corporation Bank

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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 to take a financial restructuring exercise

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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