New Delhi: The whole ONGC auction confusion has taken its toll on the government's disinvestment plan as this was being seen a test case for more such deals. As a result the divestment of Oil India and heavy engineering goods firm BHEL have been put on hold. Heavy Industries and Power Enterprises Minister Praful Patel had earlier said that it would happen during the next fiscal. The government is looking...
07:55 AM, Mar 02, 2012
Finance minister Pranab Mukherjea said 98.3 per cent of shares on offer were subscribed. ...
12:03 AM, Mar 02, 2012
New Delhi: Terming the ONGC stake sale as "a great success", Finance Minister Pranab Mukherjee on Thursday said the government has raised Rs 12,666 crore from auction of its 5 per cent stake in the oil major. "It is a great success...Our latest figure (from auction of ONGC shares) is now Rs 12,666 crore, which comes to 98.3 per cent subscription," he told reporters here. He said auction route to...
11:45 PM, Mar 01, 2012
The Cabinet approves tougher punishment for traffic offences that includes a jail term of two years for rash and drunk driving. ...
10:51 PM, Mar 01, 2012
New Delhi/Mumbai: After some hiccups and a late government intervention, the sale of government's 5 per cent stake in ONGC through an auction finally managed to sail through with an estimated proceeds of about Rs 12,000 crore to partly meet the disinvestment target of current fiscal. Hectic parleys were held for more than four hours after the end of the auction process at 1530 hours and a final tally of...
09:40 PM, Mar 01, 2012
Mumbai: A high base or floor price may have played spoilsport in the government's ambitious ONGC stake sale which fell woefully short of the over Rs 12,400-crore target, market experts said on Thursday. High-profile foreign investors apparently stayed away from the auction wherein there were bids for only two-third of the 42.7 crore shares on offer. "Government cannot bully FIIs," a top analyst said on the Rs 290 per share...
08:23 PM, Mar 01, 2012
New Delhi: Faced with a June 2 deadline when 122 licenses for 2G spectrum will stand quashed, Government on Thursday moved the Supreme Court stating that it will impact over 69 million mobile users as the auction process for radiowaves will take at least 400 days. The Telecom Ministry virtually sought extension of time for cancellation of licenses in its application for clarification of the apex court's February 2 verdict...
08:15 PM, Mar 01, 2012
Mumbai: The auction for sale of the government's five per cent stake in Oil and Natural Gas Corporation Limited (ONGC) fell short of expectations as bids were received for only 29 crore shares out of the 42 crore on offer. The ONGC auction on Thursday fell short of target and will raise just Rs 8,000 crore against the target of Rs 12,000-13,000 crore, a shortfall of at least Rs 4,000...
04:06 PM, Mar 01, 2012
New Delhi: India could take more than a year to auction second-generation radio spectrum, the telecoms secretary said, leading to more uncertainty for those carriers whose licences are set to be revoked in early June following a court order. The Supreme Court ruled on February 2 that all 122 telecoms licences awarded in a scandal-tainted 2008 sale be revoked in four months and asked the government to redistribute the licences...
11:36 PM, Feb 29, 2012
New Delhi: Syed Haider Raza, the grand old man of modern art, turned 90 on Wednesday. Raza set an auction record for modern Indian art when one of his paintings 'Saurashtra', sold for almost USD 3.5 million in London. CNN-IBN wishes India's most famous modern artist SH Raza a very happy birthday. It takes an attendant and a wheel chair to get Syed Haidar Raza close to his canvas but...
09:03 AM, Feb 22, 2012
New Delhi: The much-anticipated Premier League Soccer (PLS) is likely to move out of West Bengal thanks to the state sports department's non-cooperative attitude, and offers have come from Kerala and Maharashtra to host the football tournament. It was learnt that the Bengal sports department has indicated that the venues may not be free to host matches if the tournament is held next month, with some sources even claiming that...
06:51 PM, Feb 17, 2012
New Delhi: A Department of Telecommunication (DoT) official on Thursday testified before a Delhi court, trying the 2G spectrum case, that the 2010 TRAI report said that it was not "feasible" to auction the spectrum. Deposing as a prosecution witness, Viresh Goel, DoT's Deputy Advisor (MN), told Special CBI Judge OP Saini that in the 2010 report of Telecom Regulatory Authority of India (TRAI), it was mentioned that spectrum should...
08:03 PM, Feb 16, 2012
Kolkata: The auction for the Indian players for the IFA-backed Premier League Soccer, scheduled to be held on Sunday, was postponed on Saturday. "The players' auction will not be held tomorrow. IFA wants to sort out the issues with the AIFF and then we will go on a full-fledged basis. Utpal Ganguli (IFA secretary) is going to New Delhi to sort this out (with AIFF)," Bhaswar Goswami of the Celebrity...
11:42 PM, Feb 11, 2012
I have never met Mr. N Srinivasan. In fact, I have never even had a conversation with him. But I do enjoy hearing him talk ...
12:19 PM, Feb 09, 2012
I have never met Mr. N Srinivasan. In fact, I have never even had a conversation with him. But I do enjoy hearing him talk ...
11:48 AM, Feb 09, 2012
Former chairman Lalit Modi Tuesday admitted of IPL auction rigging. But CNN-IBN was the first to report it in 2010. ...
10:30 AM, Feb 08, 2012
New Delhi: Telecom regulator Trai will soon give its recommendations on the exit policy - a move that will pave the way for operators to surrender licences - along with its report on fresh auction of 2G spectrum within two months. "Whatever is connected with the licence conditions, it would be done. Yes," Telecom Regulatory Authority of India (Trai) Chairman JS Sarma told reporters when asked if the regulator will...
07:21 PM, Feb 06, 2012
Catch the day's top stories on India at 9 with Rajdeep Sardesai. ...
11:30 PM, Feb 04, 2012
IPL CEO Sundar Raman is happy with the way the auction for the fifth edition panned out in Bangalore on Saturday. ...
09:18 PM, Feb 04, 2012
Tripoli: Slain dictator of Libya, Moammer Gaddafi's bloodied shirt and wedding ring have been put up for $2 million (Rs 10 crore) auction. The disgraced dictator was wearing the silver ring and bloodied beige shirt when he was dragged from a drainpipe near his home town of Sirte before being beaten and shot. Libyan national Ahmed Warfali is apparently asking for $2 million (Rs 10 crore) for the items after...
08:26 AM, Feb 04, 2012
