Punj Lloyd starts adjudication proceedings against SABIC

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Punj Lloyd’s wholly-owned UK subsidiary, Simon Carves (SCL), has commenced adjudication proceedings against UK-based SABIC Petrochemicals. These proceedings are ultimately aimed at seeking restitution, through the UK Courts, of 28 million pounds sterling in respect of an advance payment bond and a performance bond called by SABIC following in SCL’s view, the wrongful termination by … Read more Punj Lloyd starts adjudication proceedings against SABIC

Emirates – Air fares slashed for all Indian destinations

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Gulf-based airline major, Emirates Airline, has informed FreePress that the company has slashed air fares across all its destinations in India with immediate effect. These revised fares will be applicable for passengers travelling to Dubai, London and New York from Mumbai. With the revised fares, a return economy class journey for Mumbai-Dubai will cost as … Read more Emirates – Air fares slashed for all Indian destinations

Satyam’s Raju availed 200 cr Personal Loan from SBI

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State Bank of India (SBI) has expressed its concern over the unsecured loan in the range of Rs 150 crore – Rs 200 crore provided to troubled Satyam Computer’s chief Ramalinga Raju six months ago. According to reports Raju availed the loan in his personal capacity to help fund the projects, which were owned by … Read more Satyam’s Raju availed 200 cr Personal Loan from SBI

FII sell Rs 1,111 cr in cash market on Wednesday

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Foreign institutional investors (FIIs) were net sellers of Rs 1,111.25 crore (provisional) in the cash market on Wednesday, according to information available on the BSE website. While FIIs made gross purchases of Rs 2,496.52 crore, their gross sales amounted to Rs 3,607.77 crore. Domestic institutional investors (DIIs) were net sellers of Rs 505.49 crore (provisional) … Read more FII sell Rs 1,111 cr in cash market on Wednesday