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The Debt Recovery Tribunal ordered the SBI-led consortium of banks to start the process of recovering Rs 6,203 crore, at annual interest rate of 11.5%, from embattled tycoon Vijay Mallya and his companies in the Kingfisher Airlines case.

"I hereby ask the bankers to start the process of recovery of Rs 6,203 crore at the interest rate of 11.5% per annum from Mallya and his companies including UBHL, Kingfisher Finvest and Kingfisher Airlines," DRT Presiding Officer K Sreenivasan said in his order.


 
Bajaj Auto today launched the KTM RC range of bikes in India.

At a launch event in Pune, Bajaj Auto launched the KTM RC 390 at Rs 2.25 lakh and the KTM RC 200 at Rs 1.71 lakh (both prices, ex-Delhi).


 
YES Bank net up 30.6% in Q3 FY16 at Rs 882.6 crore compared to the Rs 675.7 crore posted in the same period last year.

In the October - December quarter, the bank's total income was up at Rs 5,229.96 crore versus Rs 4,122.12 crore in the same quarter last year.


 
Up to 30 people were feared to have died today after an Italian mountain hotel was engulfed by a powerful avalanche in the earthquake-ravaged centre of the country.

Italy's Civil Protection agency confirmed the Hotel Rigopiano had been engulfed by a two-metre high wall of snow and that emergency services were struggling to get ambulances and diggers to the site.


 
Ford India today launched an upgraded edition of its popular compact SUV EcoSport priced at Rs 10.39 lakh and Rs 10.69 lakh (ex-showroom Delhi).

The new EcoSport 'Platinum Edition' will be sold with a two engine options 1.5 litre diesel engine delivering mileage of 22.27 km/litre and 1.0l EcoBoost petrol engine with a fuel efficiency of 18.88 km/litre, the company said in a statement.


 
Come April next year, the Indian Railways will start entering into a clutch of ‘transportation guarantee agreements’, or memorandums of understanding, to improve its faltering freight segment, the backbone of the railways’ revenue.

“Many industries such as cement, iron ore and steel have already shown interest which will give me guarantee of a certain traffic for, say, 5-10 years, and the railways will give them a guarantee to provide adequate number of wagons throughout the year as per their requirement,” said a ministry of railway requesting not to be named.


 
Maruti Suzuki launched its new compact SUV Ignis which we believe is likely to be another winner due to its superior features, performance and higher fuel efficiency than its competition. Our analysis suggests that at the introductory launch price for Ignis, profitability of the car will be significantly lower than for Maruti Swift and we expect the company to raise prices after assessing the order book. Maintain Buy with an unchanged target price of R6,300.

 
NEW DELHI: Despite Presidentelect Donald Trump's threat to car companies that they must manufacture in America or face heavy taxes, Ford has decided to go ahead with export of India-made Eco Sport SUV to the US, saying the move is part of a “broader business decision, including several parameters, costs“.

The company had said in November last year that export of Eco Sport -made at Chennai factory -will begin from 2018. But Trump's focus on boosting manufacturing in the US has rattled many car makers.


 
NEW DELHI: The government expects each telecom operator to hold an average 40 MHz of spectrum per circle by next year, on a par with some international markets, telecom secretary JS Deepak said. This should help increase the low broadband penetration levels in India, a subject which led to a public disagreement between the telecom ministry’s top official and the sector regulator.

Currently, Indian telecom service providers hold close to 25 MHz of spectrum per circle, which analysts say is lesser than needed, especially when it comes to offering a large number of services, such as those under the government’s digital drive.


 
The leadership at Tata Motors believe that the pent-up demand will begin to release now, after demonetization and apprehension over GST made a sizeable number of customers hold back on their purchase.

"I am not saying that the sales will suddenly increase in January or in February, but we expect it to increase from here," said Mayank Pareek, president, passenger vehicles business unit at country's largest automobile company Tata Motors on the sidelines of the launch of its SUV Hexa in Mumbai on Wednesday.


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