Nita Ambani to look after Reliance Retail
For the first time in the Ambani’s Reliance History, the other half of Mukesh Ambani; Nita Ambani has been seen in the recent consultations of the Reliance Retail venture. The 25000 Crore project will come up with its first Reliance retail outlet in Hyderabad. There is no formal confirmation for the company that what would be the actual involvement of the Ambani Lady but sources says that Nita will be actively involved in the ‘people out reach’ program led by the company. Since reliance is targeting the rural sector first, so it will be important for the company get involved in the rural constituencies of the country. At the moment, Nita Mukesh Ambani has been seen involved with the architects in designing the Dhirubhai Ambani knowledge city.
Railways to stop refund on confirmed Tatkal tickets
Indian Railways has decided to stop the refund of the confirmed tickets reserved under the Tatkal Scheme. This decision has been taken on the recommendations of the 15th report of the standing committee on Railways presented to Parliament. The decision has been taken to stop the abuse of Tatkal Reservation scheme. The Ministry has told that after the charts are being prepared and if the passenger is not able to board the train, then the vacant Tatkal accommodation will go to general waitlisted passengers.
GMR to setup 250-acre aerotropolis around IGI
NEW DELHI : The GMR-led joint venture company, Delhi International Airport (Dial), plans to develop an aerotropolis around the Indira Gandhi International Airport, which could provide facilities like convention centres, malls and golf course. “Dial proposes to build a world class Aerotropolis by developing 250 acres of land around the Delhi Airport for commercial activities,” a company official said. The company plans to partner with leading real estate developers in the country to set up facilities for business as well as casual travellers. The Dial official said developing the aerotropolis was a part of the company’s plans to increase non-aeronautical revenue. The proposed aerotropolis is expected to be linked with the city via an eight lane highway as well as the high speed metro line running from the city centre.
Vivah 2006: Wedding Exhibition Delhi, Mumbai and Chennai
A wedding exhibition at Delhi, Mumbai and Chennai will be held at the following schedule at these cities.
1 – 4th September 2006: At Taj Palace Hotel Delhi, timing 10 to 8 PM
23rd – 26th September 2006: At JW Marriot Mumbai, timing 10 to 8 PM
11th – 14th January 2007 : At Le Royal Meridien, timing 10 to 8 PM
The exhibition will consist of wide range of wedding wear, trousseau, precious jewelry, designer menswear, lifestyle refinements, luxury watches and honeymoon destination packages.
Supreme Court to accept petitions online
The Supreme Court of India is going Online. The e-revolution has finally reached the supreme power of India too. The Supreme Court will now accept the petitions online for October 2006 onwards. The Registrar of Supreme Court, Mr. V K Jain told that “everything is ready; there are few technicalities to be sorted out”. The SC has tied up with the ICICI bank for the collection of court fees.
Now the petitioners can file their petition online and can even get it check online for defects. The petitioners won’t have to visit the Registry and won’t have to buy file and stamps. The Registry will inform the litigant/lawyer foe the defects and they can correct them online. The judges will get to see the files given by the registry only.
Sealing in Delhi to Resume from September 2006
The Municipal Corporation of Delhi (MCD) will start the sealing of the unauthorised commercial properties in post areas of Delhi from the 1st September. According to the Supreme Court this will be the Middle path for the stopping the commercialization of the residential colonies in Delhi. Shutters will be brought down by the MCD in the Following A and B class area of Delhi.
Gulmohar Park
Anand Niketan
Basant Lok
Friends Colony
Auto repair shops, Liquor shops, gyms, pre primary schools will be the main target in this sealing campaign. No professional activities except the doctors, lawyers, architects, chartered accountants, will be allowed to in residential colonies. These doctors, lawyers, architects, chartered accountants will only be allowed these colonies if they are the property owners and the total commercial activity should not extend more than 50% of the area. Placement agencies, Offices, Call centers and data entry centers will be pushed out of these post colonies.
DLF using Shahrukh Khan as brand ambassador
DLF, the real estate major of Gurgaon is set to sign up Bollywood Badshah Shah Rukh Khan as brand ambassador. DLF is one of the most preferred Real Estate Developer for the higher end apartments and Properties. DLF is not the First real estate developer using celebrities to promote their brands. Celebrities like Yuvraj Singh, Shane Warne, Kapil Dev, Perizaad Zorabian and Amitabh Bachchan have been lending their star power to specific real estate projects of various developers over the past year. The Sahara Group with its Aamby valley project was perhaps a trendsetter in using celebs to promote a project with national and international celebs including Big B, Boris Becker, Nadia Comaned, Carl Lewis, and Anna Kournikova.
With the increasing number of Hollywood and Bollywood Celebrities in the Real Estate, the properties are now also becoming consumer products rater that an Asset in the advertising market. DLF will be unveiled Shahrukh Khan as the Brand Ambassador at Kuala Lumpur during the tri-nation cricket series featuring India, Australia and West Indies, in September. DLF will be forking out between Rs 10-15 crore to be the key sponsor for the tournament.
SEZ Sops now in Rajya Sabha
The SEZ sops controversy has now reached the Rajya Sabha at last. The commerce minister Kamal Nath has said that the projected revenue loss from the incentives was only imaginary and these SEZ will be one of the major income to the Government and will definitely act as a booster to the Economy of the Country. He clarified that “According to a study by National Institute of Public Finance and Policy the loss of tax revenue on account of SEZs on the indirect tax front would be Rs 90,000 crore and direct taxes Rs 70,000 crore”.
He also discussed that there are around 28 operational SEZ’s across the country which have accounted for exports worth Rs 22,000 crore last year besides creating direct employment for over one lakh people and the SEZs operational at present had 927 manufacturing units and an investment of Rs 2000 crore had flowed into them in last two months. Nath, however, said, “Taxes cannot be exported to remain competitive. The government offers tax concessions to exporters otherwise also. The incentives for units in SEZs cannot be less than what is being offered outside.”
OIL posts Rs 1,690 net in 2005-06
NEW DELHI: Oil India has posted a net profit of Rs 1,689.93 crore in 2005-06 compared to Rs 1,061.68 crore in corresponding period previous year. The company has recorded an income of Rs 6,036.56 crore in 2005-06, which is 46% higher than the income of the firm in the previous fiscal, according to a company statement. “The increase in income and profit were mainly on account of higher sales volume of crude oil and natural gas, including increase in crude oil price. The crude oil sales during the year 2005-06 was 3.16 MMT and natural gas sales was 1.74 BCM, ”
IIMC enters into alliance with NIIT
“MUMBAI NIIT has tied up with IIMC to offer executive development programmes through virtual classrooms. The alliance would enable the delivery of high-quality management education across the country through specially designed centres of advanced learning, the firm informed the BSE.
