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Hind Rectifiers to sell surplus assets at Dehradun Unit II

Hind Rectifiers has proposed to sell the surplus assets at Dehradun Unit II, in view of expansion at Nasik plant. The Board of Directors of the company in its meeting held on October 30, 2018 proposed the same. Hind Rectifiers is engaged in developing, designing, manufacturing and marketing Power Semiconductors, ... Read More »

ED attaches Rs 255-cr assets of Nirav Modi in Hong Kong

The agency said it has issued a provisional order under the Prevention of Money Laundering Act (PMLA) for attachment of these assets. “The said valuables were exported through 26 shipments by Dubai based companies of Nirav Modi to the Hong Kong based companies controlled by him after the registration of ... Read More »

SBI to purchase good quality assets from NBFCs

State Bank of India (SBI) will purchase good quality assets worth Rs 45,000 crore from NBFCs (non-banking finance companies) which are facing liquidity crisis triggered by a series of debt repayment defaults by financial conglomerate IL&FS and its subsidiaries. Earlier, the bank had planned for a growth of Rs 15,000 ... Read More »

Pak troops plead for ‘ceasefire’ after BSF destroys assets across IB

The border guarding force also released a 19-second thermal-imagery footage showing the destruction of a Pakistani picket across the border in retaliation to the unprovoked firing and shelling along the international boundary on May 19. “(Pakistan) Rangers called up Jammu BSF formation today and beseeched to stop firing,” a BSF ... Read More »

London HC: Mallya assets can be seized in Britain

The high court judge, who upheld a worldwide freeze order and ruled in favour of 13 Indian state-owned banks to recover funds amounting to nearly 1.145 billion pounds in a judgment, took note of the fact that the 62-year-old businessman is contesting his extradition to India relating to “alleged financial ... Read More »