Mumbai: The morning after an Air India plane flying in from Varanasi made an emergency landing at Delhi’s airport due to a hydraulic leak, the aircraft had a surprise visitor: Ashwani Lohani, who joined as the state-run airline’s new chairman and managing director just a week ago.

Ever since he took charge of the country’s ailing flag carrier, the 1980 batch Indian Railways Service officer has been on his feet, meeting everyone from baggage loaders to board directors as he tries to feel the pulse of the airline, multiple Air India executives who regularly interact with him said.

Mumbai: The Bombay high court on Wednesday ruled against the National Stock Exchange (NSE) in a defamation case that the bourse had filed against financial news website Moneylife.

The court dismissed the case and asked the NSE to pay Rs.1.5 lakh each to journalists Debashis Basu and Sucheta Dalal. Besides this, the court imposed a penalty of Rs.47 lakh on NSE to be paid in the form of a donation to Masina Hospital and Tata Memorial Hospital in Mumbai.

New Delhi: Large gold holders, wary of tax department’s scrutiny, may stay away from the gold monetization scheme.

However, small gold depositors at whom the scheme is primarily aimed should have no problems, said industry officials and analysts.

MUMBAI: Larsen & Toubro chairman AM Naik has criticised domestic banks saying they have denied relief to the private sector by not cutting lending rates in line with the reduction in benchmark rates announced by the RBI.

Since January, the RBI has effected 75 basis point reduction in the benchmark repo rate, which is an indicative rate for banks. But most lenders have cut their respective lending rates only by 20-30 bps during the period. Naik said industry needs a cut of at least 1% to get some relief.

Infrastructure company IL&FS Transportation Networks today said its subsidiaries have signed two agreements with NHAI worth Rs 4,173.92 crore for four-laning two sections of NH-6 in Maharashtra.

“The concession agreement for development of 4-laning of Fagne-Gujarat/Maharashtra Border (Package-III) section of NH-6 in the State of Maharashtra from 510 km to 650.79 km has been signed by Fagne Songadh Expressway Ltd, a wholly-owned subsidiary of the company with National Highways Authority of India (NHAI),” IL&FS Transportation said in a BSE filing.

The Cabinet cleared spectrum trading guidelines on Wednesday under which telecom operators will be able to sell radiowaves to other service providers, a move that will help address the problem of spectrum shortage.

Cheering the announcement, share price of Reliance Communication surged 11.57 per cent to Rs 62.20, followed by Bharti Airtel and Idea Cellular which gained 2.44 per cent and 2.12 per cent at Rs 355.20 and Rs 149.20, respectively, on Wednesday. Sensex closed 1.59 per cent higher at 25,719.58.

India’s top industrial houses including Adani Group, HCL, MRF and ITC among others have pledged investments worth over Rs 30,000 crore in Tamil Nadu, on first day of the state’s first-ever Global Investor Meet (GIM) on Wednesday.

Leading the investments is Adani Group which would invest between Rs 10,000 and 15,000 crore in the state to set up power plants and ports. Gautam Adani, chairman of Adani Group said that Tamil Nadu offers tremendous potential and that the company is setting up a 650 MW solar plant, likely to be operational by March 2015. “We are now investing in port and non-renewable power projects (thermal),” he said.

Cases of Indians holding funds stashed abroad and falling under the purview of the new anti-black money law will not have scope to enjoy the facility of compounding of the offence as compared to such provisions existing in the Income Tax Act, the CBDT has said.

The Compounding of Offences is a provision undertaken by the taxman under section 279(2) of the I-T Act keeping in view factors such as conduct of the person, nature and magnitude of the offence, cooperation extended by the assessee to the department during probe and facts and merits of each case.

Mahindra & Mahindra Limited is signing an MoU with the Tamil Nadu government to invest around Rs 2,000 crore in Mahindra Research Valley, near Chennai.

The investment will be to set up a new test track for MRV and an automotive plant to meet the company's future needs over next 5 years.

Yes Bank is planning to raise around $1 billion in 2016 to support its growth plans.

Speaking on the sidelines of Tamil Nadu Global Investors Meet at Chennai today, Rana Kapoor, founder & CEO, Yes Bank said that last year the lender had raised half a billion dollars and considering the 25-27 per cent growth it is planning to raise $1 billion next year.

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