Business

NEW DELHI: Delhi HC on Friday sought a response from Customs department on a plea filed by InterGlobe Aviation, the operator of IndiGo airline, seeking a refund of over Rs 900 crore paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs, reports Abhinav Garg.A bench of Justices V Kameswar…

NDA functionaries, including ministers, would soon hit the ground to explain and create more awareness about benefits of the new rural employment guarantee scheme VB G-RAM-G, which has replaced the UPA-era MNREGA, to negate the opposition’s narrative. This was discussed at Friday’s Cabinet meeting, which PM Modi chaired soon after his foreign trip, sources said.TOI…

MUMBAI: GVK Group chairman GVK Reddy’s daughter Shalini Bhupal is set to buy out Indian Hotels’ 25.5% stake in Taj GVK Hotels & Resorts for Rs 592 crore, making her the company’s largest shareholder. Prior to the deal, Bhupal, who is also the MD of the Hyderabad-based hospitality player, owned just 5,000 shares or 0.01%…

MUMBAI: ICICI Prudential Asset Management Co that closed its blockbuster IPO on Tuesday, listed on Friday at 20% premium over its IPO price and closed the session as the most-valued fund house in India. The stock on BSE listed at Rs 2,606 compared to its IPO price of Rs 2,165. It closed the session at…

New Delhi: Japan’s Mitsubishi UFJ Financial Group (MUFG) will acquire a 20 per cent in non-bank finance company Shriram Finance (SFL) for $4.4 billion (Rs 39,618 crore), in what is the largest foreign direct investment in the country’s financial services space. MUFG will pick up the minority stake through preferential equity shares, Shriram Finance said…

NEW DELHI: After questioning Jai Anmol, industrialist Anil Ambani‘s son, for more than seven hours on Friday in a Yes Bank related money laundering case, the Enforcement Directorate has summoned him again on Saturday to explain certain transactions.Anmol Ambani’s questioning was held at ED headquarters in Delhi days after the agency had a long session…

The Ministry of Civil Aviation has provided for extensive rights and protections of air travelers. It gives clear guidelines on flight delays, cancellations, baggage, ticket management among other things.These provisions become significant to understand to ensure consumer rights especially after the recent flight disruption crisis. Here’s a glimpse at certain key provisions to ensure passenger…

India and the Netherlands have established a Joint Trade and Investment Committee (JTIC) to deepen bilateral economic engagement and address barriers to trade and investment, the commerce and industry ministry said on Friday, PTI reported.An MoU to this effect has been signed between the two countries, creating a formal institutional mechanism to review trade relations,…

Dense fog disrupted flight operations at Delhi’s Indira Gandhi International Airport on Friday, leading to the cancellation of at least 177 flights and delays to more than 500 services, PTI reported citing officials.An official said the cancellations included both departures and arrivals, covering some international flights as well. Data from flight tracking website Flightradar24 showed…

A senior US Federal Reserve official has said there is no immediate need to cut interest rates further, cautioning that recent inflation data may have been distorted due to disruptions in data collection during the federal government shutdown, AFP reported.Speaking to CNBC on Friday, New York Federal Reserve President John Williams said inflation readings for…