Shapoorji Pallonji Group that owns 18.37% in Tata Sons said the Tatas moving SC to block its plan to pledge shares for raising funds reeks of vindictiveness, oppression of minority shareholder rights
According to sources, SPRE has gone for structured debt financing at a rate of around 20 per cent
According to the company, it is witnessing a renewed focus on health and hygiene categories under the new normal
Funds being raised via debt, sale of part stake in Sterling and Wilson Solar
The CPWD, a prime construction agency of the central government, said the new building will be constructed at plot number 118 of the Parliament House Estate
In its petition to the Supreme Court, Tata Sons has claimed there is no formal or informal agreement like quasi-partnership exists between the two groups, and Tata Sons is not a two-group company.
EPC cost pegged at $1.8 billion; first phase to be launched in 2024
Cyrus Mistry's reinstatement as chairman and director of the Tata companies for the rest of his tenure was symbolic at best as he hardly had any significant tenure left
The deal is part of KKR's strategy to increase its presence in Asia's infrastructure sector and today's transaction is the firm's second investment in the country as part of its dedicated plan
The dues were paid without pledging the group's 18.5 per cent stake in Tata Sons, said a source close to the development.
Mistry, whose son Cyrus was ousted as chairman of Tata Sons in 2016, is the biggest single shareholder in India's largest conglomerate
Under development management, a developer takes care of the design, construction, marketing, and sales of a project for a fee from the original landowner/developer
Godrej signed a similar deal with a Bengaluru-based developer recently. In the new version of DM, Godrej may or may not charge a fee, as it's a 50 per cent partner in the project
In December 2019, the company said the unforeseeable and lesser-than-expected realisation from the IPO led to significant and rapid deterioration in the credit markets, resulting in a liquidity crisis
The group is reportedly looking to sell stake in Eureka Forbes to shore up liquidity.
Shapoorji's new launches are coming up mostly in Mumbai, Pune, Kolkata, and Mohali. The launches are in premium, luxury, and mid-income projects
Ratings have been removed from watch with developing implications and 'Negative' outlook assigned
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The conglomerate had gross debt to equity ratio of 2.4x on an average during the year ended March this year, as against 0.82x on an average for top-listed companies, excluding financials and oil
Shapoorji Pallonji Group, the promoter of Sterling Wilson Solar, is exploring several options, including making Eureka Forbes public or selling stake in its engineering firm Forbes & Company to pay back the inter-company loans the group had taken from the solar company, sources said.