Over 1,500 ‘benami’ properties worth Rs 43 billion have been attached in the past 18 months by the Income Tax Department.

The properties have been attached in wake of the ‘benami legislation’ that was passed during the same time. According to a Business Standard report, Jaipur and Mumbai top the list, with attachments of 200 properties each.

US trade protectionism is the new normal and will continue to be so in the near future with Trump threatening the world with trade sanctions.

While China has been the biggest victim, even countries like Japan, Mexico, Canada and EU have fallen prey to the trade war. All the major trading partners of US have reacted by threatening to retaliate by imposing counter tariffs on US.

The Union government doesn't see any stress in land acquistion for the Mumbai-Ahmedabad bullet train project and is planning another high-speed rail project.

"The environmental and social impact studies are either complete or are near completion. I personally don't see any stress in getting the land," Union railway minister Piyush Goyal said on the sidelines of Asian Infrastructure Investment Bank (AIIB) annual meeting.

Bajaj Auto’s performance in fiscal 2018 could have been much better had it not been for declining motorcycle sales in the domestic market, chairman Rahul Bajaj wrote in a letter to shareholders in the company’s 11th annual report.

“This was not on account of the market as a whole, nor due to an overall lack of demand for all types and makes of motorcycles. Indeed, fiscal 2018 saw domestic sales of motorcycles grow by 13.7 per cent in volume,” wrote Bajaj, while expressing his concern.

The country’s largest lender, State Bank of India, plans to rope in a strategic advisor to conserve capital, increase return on assets and optimise the balance sheet. This comes in the backdrop of a decline in net loss to Rs 65.47 billion in 2017-18 due to a sharp rise in provisions for bad loans.

According to SBI executives, the aim is to do things efficiently with an eye on profitability, and get a feedback on areas, including which business to enter and which to exit.

The boards of Mangalore Refineries and Petrochemicals (MRPL) and Hindustan Petroleum Corporation (HPCL) are set to take up the proposal for merger of the two companies by August. After the acquisition of majority stake in the HPCL by Oil and Natural Gas Corporation (ONGC), it was expected that ONGC may look at further synergy in business by merging the two subsidiaries.

KOLKATA: Coal India plans to offer a mix of 30 million tonnes of thermal and coking coal at its recently announced fourth tranche of long-term supply contract for the non-power sector.

In the auction, the offer price for the coal would be the notified price for the non-power sector. Notified price for non-power is almost 20% higher than price fixed for the power sector.

Kamal Mahajan says he’s being asked just one question: how did he make money as peers lost $4.4 billion during India’s worst bond-market rout in two decades?

The answer, according to the head of treasury and global markets at Bank of Baroda, goes back to a contrarian bet taken two years ago.

India and Seychelles on Monday agreed to work together on a project to develop a naval base at the Assumption Island keeping each other's concerns in mind after talks between Prime Minister Narendra Modi and President Danny Faure.

India also announced a USD 100-million credit to Seychelles for augmenting its defence capabilities.

Tata Motors-owned Jaguar Land Rover has lined up investment worth 13.5 billion pounds (around Rs 1.2 lakh crore) in the next three years on new models, technology development and capacity addition.

The company will launch four new models by FY24 taking the total nameplates in its portfolio to 16 from 12 at present. Besides, it has also lined up a total of 99 different 'product actions' during the time period.

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