Companies & Sectors

  In a letter to employees today, Mr Hari Shankaran, vice chairman and close associate of founder Ravi Parthasarathy announced a series of measures to deal with the crisis at IL&FS. However, what is clear is that the same management team remains in charge with the exception of Mr Ramesh...
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The Reliance Industries (RIL) on Friday said it has permanently shut down its only oilfield in the eastern offshore Krishna-Godavari (KG) basin D6 block after it stopped producing crude.   The Dhirubhai-26 (D26) or MA was the only oil discovery in the block being operated by the...
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The Competition Commission of India (CCI) on Thursday said it has no objection to ArcelorMittal's and JSW Steel's proposed bids to acquire debt-ridden Essar Steel and Bhushan Power, respectively.   "CCI India finds no appreciable adverse effect on competition in respect of...
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The Abu Dhabi Investment Authority and the Tamil Nadu government are doing a due diligence on the controversial Tirupur Water Project set up by the cash-strapped Infrastructure Leasing and Financial Services (IL&FS) more than two decades ago.    Abu Dhabi Investment Authority is the...
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Infosys Ltd has lost its arbitration case against its former chief financial officer (CFO) Rajiv Bansal and will now have to pay Rs12 crore along with interest as severance to him. After paying Rs5 crore to Mr Bansal, Infosys had suspended the balance payment following questioning by...
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