After Airtel, Idea Cellular challenges TRAI in telecom tribunal and other top corporate news of the day

India Infoline News Service | Mumbai | January 20, 2017 08:39 IST

Check out the most important news stories which captured the headlines at the corporate level in India and internationally.

Reliance Industries Ltd has written down Rs395.70bn in value of its oil and gas assets including the flagging KG basin D6 block and US shale gas projects, in view of change in accounting policy. (BS)
 
Idea Cellular has filed a plea against the telecom regulator with the Telecom Disputes Settlement Appellate Tribunal (TDSAT) and sought quashing of Reliance Jio Infocomm’s Happy New Year offer, mirroring market leader Bharti Airtel’s complaint filed late last year. (ET)
 
Havells India is looking at mid-sized acquisition focussing on emerging markets even as it plans to expand its domestic presence by foraying into the personal grooming space. (BL)
 
Patanjali have come to the rescue of Ruchi Soya. Patanjali will start branding and marketing the edible oil produced by Ruchi Soya across its 13 facilities, which will ensure guaranteed sales to Ruchi Soya as well as cut its distribution and marketing costs. (ET)
 
The government, which is infusing Rs18.94bn capital into State Bank of India, has asked the country's largest lender to take necessary regulatory approvals for the fund infusion. (BS)
 
In a major relief to banks, the Debt Recovery Tribunal's Bengaluru Bench allowed recovery proceedings against Kingfisher Airlines Ltd and its promoter Vijay Mallya and directed them to repay around Rs62bn to the consortium banks led by State Bank of India. (BL)
 
Infrastructure Leasing and Financial Services (IL&FS) is in advanced talks to merge its wind energy assets with Orient Green Power. (ET)
 
Aion Capital Partners a joint venture between Apollo Global Management and ICICI Venture is planning to throw a lifeline at the troubled steel maker Uttam Galva. (ET)
 
Swan Energy’s announcement of Tata Realty and Infrastructure showing interest in its liquefied natural gas terminal took bankers and consultants by surprise. (BS)  
 
FIPB approved six investment proposals, including that of Sanofi Synthelabo India, Star Den Media Services and Idea Cellular Infrastructure Services, envisaging foreign investments of Rs11.86bn. (ET)

 

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