A French national, Adani invests in green energy projects. and Indian companies investing in Dubai, and SEBI has extended the nominee compliance deadline. Let's see more business news.
Indian companies invest Rs 2,780 crore in Dubai
In the period from January to June last year, Indian companies have invested 2,780 crore rupees as foreign direct investment in Dubai, according to the real estate consulting company 'Westian'. Moreover, the company also said that during the period from 2020 to the first six months of 2023, Indian investors have invested a total of 13,280 crore rupees in Dubai. In terms of investment in projects, India has invested in 123 projects, trailing Canada and Latvia.
IDFC, Merger Reserve Bank approval
RBI has granted no-obligation certificate for merger of 'IDFC, - IDFC, FHCL, - IDFC, First Bank' . Last July, the board of the ITFC had approved the merger of the three companies. In this case, the Reserve Bank has also given its approval. IDFC said the merger will lead to the creation of a company with a diverse range of public and institutional shareholders, similar to other large private banks.
Extension of time for nomination of nominee
SEBI has extended the deadline for demat and mutual fund account holders to submit their nominee details till June 30 next year.
Before this, the coming 31st was announced as the last day. This step is taken to protect the assets of the investors and pass them on to their legal heirs.
Investment by domestic companies is 40 percent
Private equity and venture capital investments in domestic companies have declined by 40 percent to Rs 2.31 lakh crore in the current year, compared to Rs 3.95 lakh crore in 2022. At the same time, the amount of investments taken out has increased from Rs 1.53 lakh crore last year to Rs 1.60 lakh crore. An expert in the sector has said that this slowdown in investment is temporary and the inflow is expected to increase in the coming days.
GST Notice to 'ICICI, Lombard'
CGST and Central Excise Department have sent a notice to 'ICICI, Lombard General Insurance', demanding Rs 5.66 crore in connection with GST. 5.66 crore GST and Rs 56.60 lakh as penalty due to difference in input tax benefit calculation and tax exemption filing, it said. The total amount due is said to be over Rs 6.22 crore. ICICI, Lombard said that they are going to appeal about this.
Government plan to increase banana exports
In the next five years, India plans to export bananas worth nearly Rs 8,300 crore. At present most of the fruits are exported only by air. India is planning and developing protocols for sea shipping to increase exports. In this way, bananas are currently being imported to the Netherlands by sea on an experimental basis. Following their success, the government plans to increase this to Rs 8,300 crore over the next five years.
2,490 crore investment in Adani Green Energy
France's Total Energies has invested nearly Rs 2,490 crore in Adani Green Energy. Last September, Adani Green and Total Energies announced a joint venture. The joint venture includes 1,050 MW of renewable power projects through solar and wind. Total Energies has now invested in Adani to acquire 50 per cent stake in these projects.
'BSNL, 5G service available by end of 2024'
Chennai, Dec. 28- "By the end of next year, BSNL will bring 5G technology across the country," said Pravin Kumar Purwar, Chairman and Managing Director, BSNL.
Regarding this, he said in Chennai yesterday,
Information telecommunication is not just a convenience. Information is important for education, business and economic development of the country's citizens. That is why the central government has created an ambitious plan to bring optical fiber to six lakh villages across the country.
4G technology facility has been provided in five states including Punjab, Haryana and Uttar Pradesh. In some states including Tamil Nadu, we are taking appropriate steps to provide uninterrupted 4G industrial facility by March. Similarly, by the end of next year, we have started the work to bring 5G technology facility across the country,' he said.