The Securities and Exchange Board of India is actively considering allowing the trading of 'when-listed' securities as it feels that certain activities in the grey market are not suitable and needed to be curbed, Chairperson Madhabi Puri Buch said at the annual convention of the Association of Investment Bankers of India here.Register to read
Busy Bee Airways Pvt. Ltd., former bidder for debt-ridden Go First, on Tuesday informed the Delhi bench of the National Company Law Tribunal that it will seek appropriate legal remedy as it intends to submit a resolution plan for Go First, after the liquidation order was passed on Monday. It withdrew its application seeking a recall of the earlier decision of the tribunal to reserve its judgment on liquidation of the airline.Register to read
In a relief to oil marketing companies such as Bharat Petroleum Corp. Ltd., Hindustan Petroleum Corp. Ltd. and Indian Oil Corp. Ltd., the Supreme Court has said that prices under the Memorandum of Understanding for inter-supply of petroleum products for smooth distribution across the country, do not constitute "transaction value" and are exempt from excise duty due to their non-commercial nature.Register to read
The Automotive Component Manufacturers Association of India wants the government to pursue a trade agreement with the US, its largest export market. This is against the backdrop of Commerce Minister Piyush Goyal's ambitious target of $100 billion in exports for the domestic auto component sector by 2030.Register to read
Dixon Technologies (India) Ltd. is in talks with a global technology partner to set up a display fabrication unit for mobiles, televisions, laptops, and tablets that could cost up to $3 billion, the company's management said in an analyst call held after the December quarter earnings were detailed. Of the $3 billion that the project would require in capital expenditure, the majority would have to come in as government subsidies. The unit has the potential to generate up to $2 billion in revenues and double-digit margins. The gestation period for setting up this project will be three years, the company said.Register to read