CBI has raided the office of the Paramount Group and residence of Paramount Airways Managing Director M Thiagarajan in connection with alleged financial transactions. The raids were conducted in connection with non-repayment of a large amount of bank loans.
Kingfisher Airlines flights across the country has been grounded after Hindustan Petroleum Corporation Limited stopped supply of fuel to the airline over non-payment of dues around 5pm.The airline owes the company over Rs.4bn and had to make payment two days before, the fuel supply to them was recommenced just after 6pm.
National Thermal Power Corporation Ltd has signed an MOU with Government of Kerala on July 18, 2011, with the objective to plan and develop around 200 MW Wind Energy based Power Projects in the State of Kerala in association with Government of Kerala.
GAIL (India) Limited has received Award for Excellence in Cost Management from The Institute of Cost and Works Accountants of India (ICWAI). Shri P.K. Jain, Director (Finance), GAIL received the award from Dr. M. Veerappa Moily, Hon’ble Minister of Corporate Affairs, Government of India on behalf of GAIL.
iGate Patni has reportedly signed a $30 mn contract to provide managed information technology infrastructure services to Weyerhaeuser NR ,a forest products firm.
MTNL is planning to acquire 51% stake in Zimbabwe's state-owned landline operator, TelOne.
TelOne was recently granted a GSM mobile permit and will be the fourth mobile operator in a market of some 4 million subscribers.
The National Stock Exchange of India Ltd. has decided to shift 16 stocks from the rolling segment to the Trade for Trade segment. Trading in these securities will be available in Trade for Trade segment at a price band of 5% with effect fromJuly22. The settlement will be done on trade-to-trade basis and no netting off will be allowed from 22nd July in the shifted securities, the NSE said.
List of securities to be shifted from rolling segment (series: EQ) to trade for trade segment (series: BE) with a price band of 5% with effect from July 22, 2011 (Friday) are:
Alphageo (India) Limited
Bil Energy Systems Limited
Decolight Ceramics Limited
Emami Infrastructure Limited
Fame India Limited
Hinduja Foundries Limited
Indowind Energy Limited
IOL Netcom Limited
JCT Electronics Limited
Mahindra Ugine Steel Company Limited
Marksans Pharma Limited
MPS Limited
Murli Industries Limited
Neocure Therapeutics Limited
Parenteral Drugs (India) Limited
Williamson Magor & Company Limited
Reliance Industries Ltd has received US$2 billion from BP as part of US$7.2 billion for acquiring participating interest in the Indian company's 23 oil and gas blocks in the country. The Cabinet Committee on Economic Affairs (CCEA) is likely to consider the Petroleum Ministry's recommendation of granting approval to the deal shortly. The exploration phase two oil and gas blocks in Assam and the North East Basin is not clear and will be granted conditional approval. According to reports; the Petroleum Ministry has proposed that conditional approval for these two blocks could be given pending resolution of the issue.
Sun Pharmaceutical Industries has received approval from the U.S. Food and Drug Administration to sell a generic version of AstraZeneca PLC's (AZN) cancer drug Arimidex.
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