The Tata group of companies includes India’s biggest steelmaker and largest computer-services provider.
— Bloomberg
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Omaxe says it prepaid Rs180 cr to Indiabulls
New Delhi: Real estate developer, Omaxe Ltd said that it has pre-paid Rs180 crore, which works out to 60% of the Rs300 crore, term facility it had availed from Indiabulls Financial Services Ltd in December, 2007. The term facility was for a period of three years, Omaxe said in a filing with the Bombay Stock Exchange.
A promoter of Omaxe had pledged 2,50,58,000 equity shares of the company as collateral security with Indiabulls Financial Services to get the loan. About, 14.44% of the total paid-up share capital of the company is pledged till date with Indiabulls Financial Services. Since then, Omaxe has pre-paid Rs180 crore and the outstanding loan amount is Rs120 crore as of now.
— Shabana Hussain
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‘No interference in daily functioning’ of BSE
Mumbai: Asia’s oldest stock exchange, the 133-year old Bombay Stock Exchange (BSE), on Wednesday, said its board of directors does not interfere with the professional managers of the exchange.
A BSE release blamed the media for creating impression that the directors have been “interfering with the day-to-day working of the exchange and creating hurdles in the work of professional managers” and some of the “board level resignations … are the outcome” of such interference.
“BSE would like to clarify that there is no truth in these allegations” it said, adding, “board meetings are conducted in a business-like manner and … attended by top executives of the exchange as permanent invitees.”
— Staff Writer
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Curfew imposed in Jammu district
Srinagar/Jammu: Police imposed curfew in Jammu district on Wednesday after 40 people were injured in clashes late on Tuesday night. The transfer of 99 acres to the Hindu Shri Amarnathji Shrine Board was scrapped in July after protests by members of the Muslim majority in Jammu and Kashmir state.
Hindus prompted further Muslim rallies with a blockade of goods from Srinagar destined for Jammu and other parts of India.
— Bloomberg
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Trai allows calling cards for long-distance calls
New Delhi: In a measure that would further reduce call rates within the country, Telecom Regulatory Authority of India, or Trai, on Wednesday allowed companies offering long distance calls to both within the country and abroad to sell calling cards in the country.
This recommendation, when implemented, will give mobile phone users a choice to select a telecom operator for making long distance calls. .