State Bank of India (SBI) has received in principle approval from RBI to set up a subsidiary that will manage the real estate of the government owned bank.
Tag: subsidiary
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L&T may spin off hydrocarbon business
Larsen & Toubro Hydrocarbon Engineering (LTHEL), which is a wholly-owned subsidiary of Larsen & Toubro (L&T), may be spun off as a separate subsidiary. L&T is seeking shareholders' approval to spin off the subsidiary, which is engaged in designing, engineering, procurement and construction solutions on turnkey basis for oil and gas, petroleum refining, chemicals, petrochemicals and fertiliser sectors and pipelines, among othe
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OVL, OIL enter into pact for Mozambique asset
Through a communication to stock exchange, Oil & Natural Gas Corporation informed that its overseas subsidiary OVL and Oil India (OIL) entered into a definitive agreement to acquire interest in the Rovuma Area 1 Offshore Block in Mozambique
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OIL to set up subsidiary for foreign operations
In the next few months, state-run energy explorer Oil India (OIL) may set up a foreign arm for exploration and acquisition of hydrocarbon assets abroad, thereby becoming the third state-run oil company to have a dedicated subsidiary for foreign operations. OIL now has presence in countries like Sudan, Libya, Venezuela, Egypt, Timor Leste, Yemen, Nigeria, Iran, the US and Gabon. In Gabon and Libya, it is the main operator of its blocks
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OIL hopes to form overseas arm by year end
By the end of 2013, public sector oil and gas exploration company Oil India (OIL) plans to form an overseas subsidiary for operating its foreign assets. It is learnt that OIL wants to set up an overseas subsidiary on the lines of ONGC Videsh (OVL), which is the foreign unit of state-run energy explorer ONGC
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Govt to hire consultant to restructure Coal India
Government is in the process of hiring an external consultant to advise on the restructuring of Coal India (CIL) for a long term sustainability roadmap. The government is learnt to have shortlisted nine consultants for the purpose. Meanwhile, agency reports quoted Coal Minister Prakash Jaiswal as saying that he was not in favour of splitting the state-run CIL. The minister has reportedly said
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Board of OIL clears plan to set up foreign arm
In order to pick up stake in foreign oil and gas assets, pubic sector energy explorer Oil India (OIL) plans to set up an overseas subsidiary. At a meeting on April 10, the board of OIL cleared the decision to set up a subsidiary, which will have a separate board and managing director akin to the corporate structure of ONGC
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Housing finance arm may be merged with Indian Bank
Media reports suggest that Ind Bank Housing, the housing finance subsidiary of Indian Bank, may be merged with the parent company by the end of 2012-13, if all regulatory approvals fall into place. Indian Bank wants to merge its housing finance arm because it would help bolster the bankĆās retail book, bringing specialist home finance employees, and also as it wo
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Marsh to offer services to Indian energy firms
In a move that may contribute to the growth of the energy sector in the country, Marsh decided to offer insurance broking and risk management services to firms in the sector. The company, which is the Indian subsidiary of Marsh & McLennan Companies, announced the launch of 12th global energy hub in Mumbai. The