Companies & Sectors
NHAI to raise up to Rs1,000 crore
It can retain oversubscription of Rs9000 crore. The NHAI bonds proposed to be issued have been rated ‘IND AAA’ by IRRPL, 'CARE AAA’ by CARE,  "[ICRA] AAA” by ICRA and ‘CRISIL AAA/Stable’ by CRISIL, according to a press release from NHAI
 
National Highways Authority of India (NHAI) plans to raise funds through public issue of tax-free, secured, redeemable non-convertible bonds with the face value of Rs1,000 for an amount of Rs1,000 crore with an option to retain oversubscription of up to additional Rs9,000 crore aggregating up to a total of Rs10,000 crore, according to a press release from the company.
 
The interest income on bonds is exempted from levy of income tax in the hands of the investors as per the notification issued by the Central Board of Direct Taxes.
 
The coupon rate for Category I, Category II and Category III investors i.e. Qualified Institutional Buyers, Corporates and High Net worth Individuals will be 7.14% and 7.35% for tenures of 10 years and 15 years respectively in Series IA and series IIA.  The coupon rate for Category IV investors i.e. Retail Individual Investors will be 7.39% in Series IB and 7.60% in Series IIB for tenures of 10 years and 15 years respectively (i.e. Retail Individual Investors are being offered 0.25% more than other category of investors for bonds of corresponding tenure).
 
The bonds are proposed to be listed on the BSE Limited and NSE. The Bonds proposed to be issued have been rated ‘IND AAA’ by IRRPL, 'CARE AAA’ by CARE, "[ICRA] AAA” by ICRA and ‘CRISIL AAA/Stable’ by CRISIL.
 
The issue opens on 17 December 2015 and is scheduled to close on 31 December 2015.

User

Hazare questions Centre, Kejriwal after CBI search
Anti-corruption and social activist Anna Hazare on Wednesday said the Centre should have taken action earlier over any complaints against Rajendra Kumar, principal secretary to the Delhi chief minister, and Arvind Kejriwal should have checked the officer's background before appointing him.
 
"This incident (alleged corruption) did not happen during the tenure of Arvind (Kejriwal). The BJP didn't do anything in the past one and a half years (about this case). Action (against Rajendra Kumar) should have been taken, back then," Hazare told reporters at his Ralegan Siddhi village in Ahmadnagar district.
 
He said he had always told Kejriwal to have people with strong character around him.
 
"From the beginning, Arvind has been fighting against corruption. I have always told him that 'you should have people with strong character around you'. Before appointing someone as principal secretary, he should have checked his background," Hazare said.
 
The CBI on Tuesday conducted searches at the office of Rajendra Kumar over transactions in his earlier capacities. The Delhi government insists that Kejriwal's office was also searched.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

Railways to create safety fund worth over Rs.1 lakh crore
The central government on Wednesday informed parliament that Indian Railways is in the process of creating a massive fund worth over Rs.1 lakh crore to improve its safety standards.
 
According to Minister of State for Railways Manoj Sinha, the Railway Board has constituted a committee for putting up the consolidated proposals for creation of a ‘Rashtriya Rail Sanraksha Kosh' (RRSK).
 
"Ministry of Railways has constituted a committee for creation of a RRSK amounting to Rs.110,237 crore," Sinha said in a written reply to a question in the Lok Sabha.
 
The minister elaborated that the committee has Railway Board executive director, civil engineering (planning), as convener.
 
In addition, the committee has as its members the executive directors of finance expenditure-I, signal (development), electrical energy management, mechanical engineering (project), directorates.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)