News digest: Tata Tele loss, car market, Essar under watch, and more

Net worth stood at negative Rs 452 billion at the end of 2017-18

Tata Tele registers India Inc’s biggest loss at Rs 275 billion

Tata Teleservices, which transferred ts wireless services business to Bharti Airtel in October last year for free, has reported India Inc’s biggest loss ever at Rs 274.7 billion for the fiscal year ended March 2018 — due to write-offs taken on its wireless service business. Read more

US third-largest car market for India in FY18

The US has quietly raced to become the third-biggest market for passenger vehicles (cars, utility vehicles, and vans) manufactured in India during the financial year ended March 31, 2018. Read more

Essar under watch over ‘illegal’ CBM extraction

Essar Oil & Gas Exploration and Production (EOGEPL), India’s largest coal-bed methane (CBM) producer, is under the government’s scanner for allegedly drawing gas outside its licensed area at Raniganj in West Bengal. Read more

After hitting a high, corporates cut back on bonds in 2018

After scaling a new high in 2017, there has been a slowdown in corporate borrowing through bonds as yields rise and corporate capital expenditure (capex) is yet to pick up in the country. Read more

30,000 axed directors of shell companies back in the running

About 13,993 companies are now eligible for restoring their names with the Registrar of Companies and 30,000 people are qualified for being directors of these companies again. Read more