You are here
Home > Business (Page 2)

Thousands of breast cancer patients are likely to benefit under a new precision medicine approach

New Delhi, 6thAugust 2018: Breakthrough finding by the landmark Trial Assigning Individualized Options for Treatment (TAILORx) demonstrates the Oncotype DX Breast Recurrence Score® Test definitively identifies the 70% of women with early-stage breast cancer who receive no benefit from chemotherapy, and the 30% of women for whom chemotherapy benefit can be life-saving. The TAILORx study, the largest…

Century Pulp & Paper foray into Retail Tissue Business

New Delhi: Century Pulp & Paper which is one of the leading integrated Pulp and Paper Company in the country foray into the retail tissue business. Century Pulp & Paper has launched its new retail product range “Century Tissue Paper” looking towards the consumption of tissue papers which has been increasing in last few years…

Legrand’s ‘Good Vibes’ to target millennials consumers through original web series content

New Delhi,August 6th2018:Legrand India, a global specialist in electrical and digital building infrastructureis all set to launch their first self-produced web series-The Good Vibes.Starring the famous web series couple Naveen Kasturia and Maanvi Gagroo as Lakshya and Jonita, the series bring this young and much-loved couple together, after a gap of three years. The company…

Rico Auto forays in the 4-Wheeler Aftermarket

New Delhi, 6th August 2018: Rico Auto after one year of successful journey of 2W in the after-market, announced its foray in the 4- wheeler aftermarketcomponent segment. The announcement was made at a Distributor’s Meet organized to celebrate Rico Auto’s one year success. The company has been steadfast in establishing a strong network of 40…

Mahindra’s latest offering codenamed U321 to be called Marazzo 

 Mumbai July 31, 2018: Mahindra & Mahindra Ltd. (M&M), a part of the US $20.7 billion Mahindra Group, today named its eagerly awaited global model, codenamed U321, as Marazzo. Derived from Basque, a sub-language of Spanish, the word ‘Marazzo’ means shark and is linked to the vehicle’s shark-inspired design. The Mahindra Design Studio and Italian design house Pininfarina have…

G4S – Powering lives through CSR

A company’s worth is not only built on its profits, sales and reach but on its impact on society, communities and the environment. We call it Corporate Social Responsibility (CSR). It has become an important factor that decides the success of an organization. Today, we have a long list of companies that are reshaping their…

Aarav Unmanned Systems on client win spree, expands pact with Kerala Infrastructure Investment Fund Board and Thematic Infotech Pvt ltd.

  New Delhi, July 9, 2018: Aarav Unmanned Systems (AUS), a pioneer in commercial drone technology today announced its expansion of customer base with addition of two new clients – Kerala Infrastructure Investment Fund Board (KIIFB) and Thematic Infotech Private Limited. This relationship will entail the company to offer an end-to-end drone based solutions to a wide range of…

Cabinet approves Infusion of Equity in HPIL and transfer of surplus land from TCL to HPIL Posted On: 04 APR 2018 7:26PM by PIB Delhi The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the transfer of administrative control of Hemisphere Properties India Ltd. (HPIL), PSU from the Department of Telecommunications (DoT) to the Ministry of Housing and Urban Affairs (MoHUA) after infusion of equity amounting to Rs. 700 crore and Rs. 51 cr. Secured GOI Loan into the Company and implementation of scheme of arrangement for de-merger of surplus land. Details: Infusion of equity amounting to Rs 700 Crores into Hemisphere Properties India Ltd. (HPIL) the Company for acquisition of 70 Crore Cumulative Redeemable Preference Shares of Rs. 10/- each at par on private placement basis and Rs. 51 cr. through secured Loan from GOI at coupon rate/ interest rate to be fixed by the Department of Economic Affairs and to implement the scheme of arrangement. b) Granting an exemption to HPIL from the policy of Government of India relating to Foreign Direct Investment in real estate business. c) Delegation of power to HPIL to take appropriate decision to give effect to object clause of its MOA including sale, long term lease and disposal of land d) Transfer of equity stake and management control of HPIL from Department of Telecommunications under Ministry of Communications to Ministry of Housing and Urban Affairs (MoHUA). e) Authorizing Department of Telecommunications (DoT) to undertake all steps incidental for transfer of equity stake in HPIL from Ministry of Communications to the Ministry of Housing and Urban Affairs (MoHUA) infusion of equity and implementation of Scheme of Arrangement. Benefits: It would facilitate demerger of surplus land from Tata Communications Limited to Hemisphere Properties India Limited (HPIL) and further smooth functioning of HPIL. Implementation Strategy and Targets: After due approval of this proposal by the Cabinet, surplus land would be transferred from TCL to HPIL on payment of Stamp Duty. As intimated by the TCL, approximately seven to eight months would be required for the approval of Scheme of Arrangement by National Company Law Tribunal (NCLT). After its approval by NCLT, approximately four to five months would be required to implement various steps involved. Overall, approximately one year would be required to implement the decision. Background: M/s Videsh Sanchar Nigam Limited [now Tata Communications Ltd. (TCL)] was disinvested on 13th February 2002 by Govt. of India and management control of the company was passed on to the Strategic Partner, namely, M/s Panatone Finvest Limited (PFL), a special purpose vehicle under the Tata Groups of Companies. At the time of disinvestment, surplus land measuring 773.13 acres located at five locations in 4 cities, namely, Pune, Kolkata, New Delhi and Chennai (out of a total of 1230.13 acres of land) was demarcated and decided that the surplus land will not be part of the disinvestment bid. As per the Share Holding Agreement / Share Purchase Agreement, PFL undertook an obligation to de-merge or hive off the surplus land into a realty company under Sections 391 to 394 of the Companies Act, 1956.

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the transfer of administrative control of Hemisphere Properties India Ltd. (HPIL), PSU from the Department of Telecommunications (DoT) to the Ministry of Housing and Urban Affairs (MoHUA) after infusion of equity amounting to Rs. 700 crore and Rs. 51 cr. Secured GOI Loan…

Warehousing space absorption more than doubles in NCR in 2017: Knight Frank Warehousing Report 2018

New Delhi, March 1, 2018: Knight Frank India launches the third edition of its flagship India Warehousing Market Report 2018. The report unravels the present scenario of the Indian logistics sector along with providing a definitive view on the country’s top warehousing markets which include Mumbai, NCR, Bengaluru, Chennai, Pune, Hyderabad and Ahmedabad. Key Takeaways: The annual transaction…