Suffered loss of Rs 191 crore in 2012-13: SpiceJet
SpiceJet on Monday said it had suffered a loss of over Rs 191 crore in 2012-13. In a statement, the second largest no-frills carrier said it suffered the highest-ever loss of Rs 1,003 crore in 2013- 14, while the loss in 2012-13 was Rs 191.07 crore. SpiceJet's response came after the Civil Aviation Ministry came out with a loss figure of Rs 279.8 crore in 2012-13 for the airline.
'Simple regulatory farmework to help India attract investment'
Implementation of simple regulatory framework and adherence to commitments will help India attract investments in natural resources sector, Vedanta Resources Chairman Anil Agarwal said. "India is a country richly endowed with world's largest reserve of natural resources and in today's context, possesses the potential to add USD 1 trillion to the growth of the Indian economy over a period of few years and in turn, create millions of job opportunities," he said in his expectation from the government.
Sebi slaps Rs 5 lakh fine on ITC executive
Sebi on Monday slapped a penalty of Rs 5 lakh on an executive of diversified group ITC ltd for failing to make disclosures about her shareholding after selling over Rs 35 lakh worth shares of the company last year. The Securities and Exchange Board of India (Sebi) said in an order that it is imposing "a penalty of Rs 5 lakh on the noticee viz, Chandana Ghosh" for failing to make disclosures to ITC and the relevant bourses as mandated under the norms.
Competition Commission slaps 25.67 cr penalty on Adani Gas
Fair trade watchdog CCI has imposed a penalty of more than Rs 25 crore on Adani Gas for violating competition norms by abusing its dominant market position. Adani Gas is a subsidiary of Adani Enterprises, which is part of diversified Adani Group. The Competition Commission of India's (CCI) ruling has come on a case related to supply and distribution of natural gas by Adani Gas ltd in Faridabad. A fine of Rs 25.67 crore has been imposed on Adani Gas for abusing dominant position, the regulator said in a statement on Tuesday.
RIl completes acquisition of control of Network18 Media, arm
Reliance Industries ltd (RIl) on Monday said it has taken control of Network 18 Media & Investments ltd and its subsidiary TV18 Broadcast ltd, besides appointing HDFC chairman Deepak Parekh as an independent director on the Board of the media and entertainment firm. RIl has also appointed McKinsey senior advisor Adil Zainulbhai as independent director and Network 18 Media & Investments (NW18) former promoter Raghav Bahl Bahl as a non-executive director on the NW18 Board. "Independent Media Trust (IMT) of which RIl is the sole beneficiary has completed the acquisition of control of Network 18 Media and Investments ltd and its subsidiary TV18 Broadcast ltd," the company said in a statement.