New Delhi: Essar Steel, which is undergoing debt resolution process, has posted earnings before tax of around Rs 2,000 crore during the insolvency period and the amount could be utilised by financial creditors against their outstanding dues, one of the operational creditors has claimed.

Mumbai: Under a new head after the forced exit of its promoter-chief executive Rana Kapoor, Yes Bank on Friday reported a whopping Rs. 1,506 crore net loss for the March quarter as against a profit of Rs. 1,179 crore in the year-ago period as provisions soared over nine-times. Higher provisions for possible reverses, including a massive Rs. 2,100-crore contingency reserve, was the prime reason for the massive loss, the bank said.

Hindustan Petroleum Corp Ltd’s plans to acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) has hit a cash hurdle, with parent ONGC preferring a cash deal rather than a share-swap, sources aware of the development said.

Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, last year completed acquisition of Hindustan Petroleum Corp Ltd (HPCL) for Rs 36,915 crore.

Hyundai India aims to become the largest SUV seller in India with its sub-four meter SUV, the Venue, to be launched on May 21.

Calling it India’s first “connected” SUV, Hyundai hopes to sell 10,000 units of the Venue every month.

Pioneer Natural Resources is in advanced talks to sell its Eagle Ford acreage in South Texas to privately owned energy producer Ensign Natural Resources, sources familiar with the matter said on Friday.

If successful, the sale would achieve Pioneer’s long-stated aim of becoming an energy producer focused solely on the Permian basin of West Texas and Eastern New Mexico, the heart of the US shale revolution.

It’s safe to say that most of us carry multiple devices with us at most times today. We could squabble over whether Kindles can replace physical books, but that wouldn’t make a difference in the context of this review. However, they undoubtedly do reduce the weight of your backpack.

L&T Finance Holdings, an arm of engineering major L&T, on Sunday reported a net profit of Rs 552 crore in Q4FY19, a 94% year-on-year growth. The profit rose on account of a 22.5% increase y-o-y in its total income. The net profit was Rs 270 crore in Q4FY18.

Total income came in at Rs 3,383.9 crore, up 22.5% y-o-y pushed up by a higher interest income, which rose by 25.5% to Rs 3,058 crore. The net interest margin rose by 44 basis points y-o-y to 5.08%.

GST officers are working on a system where businesses above a certain turnover threshold will have to generate 'e-invoice' on government or GST portal for every sale, thereby effectively reducing the room for tax evasion.

To start with, businesses above a specified threshold will just get a unique number for every electronic invoice or e-invoice generated. This number can be matched with the invoices reported in the sales return and taxes paid, an official said.

Indian cricketer Mahendra Singh Dhoni has moved the Supreme Court seeking protection of his ownership rights on an over 5,500-square feet penthouse he booked 10 year ago in a project of embattled Amrapali Group.

Dhoni filed an application in the court through his lawyer, after receiving a notice from apex court-appointed forensic auditors seeking clarification on certain aspects of the purchase.

The five-hour shutdown of Air India's check-in software, which occurred Saturday morning, is still causing its ripple effect as the airline said 137 flights will be running with a delay on Sunday.

The average duration of delay -- on these 137 flights of Sunday -- would be of 197 minutes, the airline's spokesperson said.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.