Corporates

Neemuchwala, 52, will continue to hold the office of the CEO and Managing Director, until a successor is appointed for a smooth transition and to ensure that business continues as usual, the company said in a BSE filing.

Rahul Bajaj has been a director of the company since April 1, 1970, Bajaj Auto said.

India, which uses about 14 million tonnes of plastic annually, lacks an organised system for management of plastic waste, leading to widespread littering. New Delhi is the world's most polluted capital, with smog causing school cancellations, flight diversions and untold health problems for its over 20 million people.

Government sources said Airtel failed to fulfil export obligation under Export Promotion Capital Goods Scheme.

At 10:30 am, the shares of HDFC were trading at Rs 2,448, higher by 53 points or 2.2 per cent. The stock opened at Rs 2,419 and has touched an intra-day high of Rs 2,470 and a low of Rs 2,409 thus far. The BSE Sensex had slipped marginally in the red, with losses of 31 points at 41,223 and the Nifty had shed 16 points at 12,103.

Since 2018, US companies wishing to import the type of steel, which is not produced in the US, had been forced to seek tariff exemptions on a case-by-case basis.

Under the agreement, Jindal will hold a 51 per cent stake in the venture and Taurus the remaining shares, the Brazilian company said.

Some parameters in current PIM include transfer of management control and sale of 100 per cent shares of Air India, along Air India's 100 per cent stake in its subsidiary Air India Express and 50 per cent stake in joint venture AISATS. The debt in Air India has been frozen at Rs 23,286.5 crore, which is approximately equivalent to the written down value of the combined asset of Air India and Air India Express, Mr Puri said.

The government on Monday announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment and has set March 17, as the deadline for submitting expression of interest. As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per bid document issued on Monday.

The entire company will be sold but effective control needs to stay with Indian nationals, according to preliminary terms published Monday. Bids are invited by March 17 with Ernst & Young LLP India as transaction adviser.

In a revised push to sell the national carrier, the government on Monday announced plans to sell its entire stake in Air India. The development comes after an initial attempt to sell a majority stake in the airline failed to draw a single bid in 2018. The airline is sitting on a debt pile of around Rs 58,000 crore, besides huge accumulated losses running into thousands of crores. Currently, the Government of India holds a 100 per cent stake in the airline, and its subsidiary Air India Express.

According to official sources, while OIL may pick up close to 48 per cent stake, Assam has indicated that it will pick up the remaining to raise its stake to 26 per cent from 12.4 per cent. Assam Commerce and Industry Minister Chandra Mohan Patowary recently stated the state government's willingness to pay up to Rs 2,000 crore to pick 13.6 per cent of BPCL stake in the refinery.

The apex court said it would hear the matter along with the main plea filed by Tata Sons against NCLAT's verdict.

The board's decision to recruit a global head-hunting firm comes as a six-member internal search committee has not been able to reach a consensus on selecting a successor to Aditya Puri.

"Given our goal to become the world's largest solar power company by 2025 and the world's largest renewable power company by 2030, we feel confident that we will be able to lead one of the fastest global carbon offsets. We are looking forward to this transformation," said Mr Adani in a LinkedIn post.