Daily Archives: January 5, 2018

China Development Bank withdraws insolvency petition against RCom

China Development Bank (CDB), the biggest foreign lender to India’s Reliance Communications Ltd (RCom), on Friday withdrew a petition seeking to drag the indebted telecoms carrier into insolvency. A lawyer for CDB told the National Company Law Tribunal that the Chinese bank had filed to withdraw the petition. The tribunal allowed CDB’s plea to go

Govt plans Wi-Fi hotspots in 222 fishing villages

The state government is planning to introduce public Wi-Fi hotspots in 222 fishing villages in the state. The initiative is to expected to enable the government to reach out to fishermen community and issue alerts reading weather. IT secretary M Sivasankar said that the government has included the proposal in the report submitted to Union

UP AS A ELECTRONIC MANUFACTURING ZONE

The Uttar Pradesh government introduced UP Electronics Restructuring Policy under which Noida, Greater Noida and Yamuna Expressway will be declared as electronic manufacturing zone and will be part of Electronics System Design and Manufacturing (ESDM) industries.

IDEA CELLULAR OKS RAISING RS 3,250 CR VIA PREFERENTIAL ISSUE TO PROMOTERS

Idea Cellular board on Thursday approved raising Rs 3,250 crore through a preference share issue to promoters, the company announced. Separately, the company’s board has also constituted a committee of Board members to evaluate potential routes for raising further capital of up to Rs 3,500 crore, including, among others, further Preferential Issue, Qualified Institutional Placement

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