Cairn India Ltd, the petroleum arm of London-headquartered Vedanta Resources Plc, has received a tax notice of Rs.20,495 crore from the Income Tax department for failing to deduct withholding tax on alleged capital gains by its erstwhile promoter, Cairn UK Holdings Ltd (CUHL), a subsidiary of Edinburgh-based Cairn Energy Plc.
Category: Infrastructure Finance
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BSNL to invest Rs.7,000 crore in 3G, 4G Wi-Fi hotspots
State-run BSNL will invest around Rs 7,000 crore in setting up 3G, 4G wifi hotspots to be integrated across the country over the next 2-3 years.
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TN seeks tie-up with Asian bank
The Tamil Nadu Government has asked the Asian Infrastructure Investment Bank to join hands with the state to promote a new Tamil Nadu Infrastructure Fund Management Company (TNIFMC).
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Jain Irrigations agri-NBFC arm raises Rs.112 crore
Jain Irrigation announced that its subsidiary Sustainable Agro-commercial Finance Ltd (SAFL) - a non-banking finance corporation - has raised funds worth Rs 112 crore in a mix of equity shares and long term debt.
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BP writes off $830 million in KG-D6 block
BP Plc has written down the value of its investment in eastern offshore KG-D6 block by $830 million, following a lower-than-expected gas price hike.
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Govt to establish infrastructure fund
Finance Minister Arun Jaitley proposed the setting up of a National Investment and Infrastructure Fund (NIIF) with an initial corpus of Rs 20,000 crore that can be leveraged by infrastructure companies.
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Yes Bank plans to raise funds for green bond
Yes Bank is planning to raise around $100 million from International Finance Corporation (IFC), a project report issued by IFC revealed.
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SBI chief for new infrastructure financing model
State Bank of India (SBI) chairperson Arundhati Bhattacharya said India needs to identify new models for infrastructure development and financing in order to take the country forward on the economic front.
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Piramal to invest Rs.5,000 crore in realty projects
Piramal Fund Management plans to invest up to Rs 5,000 crore over the next one year to finance construction projects, a top company executive said. The fund has already invested in nine realty projects through construction finance proposals totaling Rs 1,100 crore in the last three months.
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GE proposes to invest Rs.3,000 crore in Maharashtra
US-based General Electric (GE) has proposed to invest Rs 3,000 crore in Maharashtra during a meeting with State Chief Minister Devendra Fadnavis at the World Economic Forum meet in Davos