The Central Bureau of Investigation (CBI) has registered two separate cases against IL & FS subsidiaries and its directors for allegedly duping banks to the tune of Rs 120.03 crore.The FIR accessed by ANI reads that the general manager of Punjab National Bank registered a complaint with CBI alleging that the borrower Company IL & FS Energy Development Company Ltd. (IEDCL) and its Directors, namely, Hari Sankaran, Late Ravi Parthasarathy (since died), Ramesh Chander Bawa, Arun Kumar Saha, Sunil Kumar Wadhwa and Anoop Seth and another unknown private person (s) and unknown public servant(s) entered into a criminal conspiracy to cheat Punjab National Bank (e- United Bank of India) and the accused persons misappropriated the sanctioned credit facilities by way of cheating, utilization of loan funds contrary to the sanction terms and conditions, diversion of sale proceeds to related/ sister concern companies, etc. and thereby caused wrongful loss to the tune of Rs 100.03 Cr plus to
Following rainfall and gusty winds in Udaipur, a video showed glass falling from the second floor of a building and a couple of cars parked beneath the building got damaged
Read more about Tata Power arm CGPL raises Rs 570 cr via non-convertible debentures on Business Standard. Tata Power on Thursday said its wholly-owned subsidiary CGPL has raised Rs 570 crore through issuance of non-convertible debentures (NCDs)."Coastal Gujarat Power Limited (CGPL). has successfully issued and allotted unsecured, rated, listed,
Coastal Gujarat Power (CGPL), a wholly-owned subsidiary of the Tata Power Company, has successfully issued and allotted Unsecured, Rated, Listed, Taxable, Guaranteed, Redeemable Non-Convertible Debentures (NCDs) for an amount of Rs 570 crore on private placement basis issued for a tenor of 3 years.
The NCDs have been rated IND AA(CE)/Stable by India Ratings & Research and will carry a coupon rate of 5.70%, payable annually.
The debt obligations of CGPL under the NCDs are guaranteed by the Company. The proceeds of the NCDs will be utilised by CGPL towards refinancing of their existing debt, capital expenditure and augmentation of working capital.
Read more about 1 dead, 7 missing after coal and gas outburst in China s Henan mine on Business Standard. One person died and seven others are missing following a coal and gas outburst in a coal mine in central China s Henan Province, local authorities said Saturday.The accident happened at around 5:50 pm on Friday at a coal mine operated by Hebi Coal