CBI May file Case Against Reliance Industries

CBI May file Case Against Reliance Industries over its operations of its gas block in the Krishna Godavari basin. Earlier this month during investigations agianst Reliance Industries no evidence found that suggest that costs in development of the country's key natural gas field in the KG basin were overstated.The offshore KG basin was expected to contribute up to one-quarter the gas supply for India, but lower-than-expected output has left dependent on expensive, imported LNG to fuel power and fertiliser plants.
 

Actual Price of petrol,Govt. eating our pocket by taking the Name of Rise in Crude prices,

Actua price of Petrol is very low if sold without taxes .Here is the breakdown of the taxes charged by the government in various forms. From the time it is refined to the time it reaches the consumers.

1. Excise duty  : 14.35 rupees per liter 
2. Customs duty : 7.5 percent
3. Sales tax or VAT  : 20 percent.

The total taxes amount to 45 percent of the final cost of the petrol.
If a barrel of crude oil in International market is $140 and if the petrol prices were left to the market fluctuations then the cost of petrol in retail market would be 70 rupees per liter. Now crude oil in International market $110 which is way below $140 mark now petrol rate in Delhi is 66 Rs. but actul rate should be 45% less then actual be. Then why not govt. is reducing taxes instead of hiking prices.

DQ Entertainment to announce two licensing deals

DQ Entertainment (International) Animation content provider going to announce two multi-million dollar licensing deals with overseas firms in the areas of broadcasting, merchandising and publishing in October.They are going to annouce deals at the Cannes film festival in the first week of October. One deal will be in the U.S and second deal in Europe but with a partnership in Canada. DQ Entertainment which has a deal pipeline of USD 112 million in the areas of production, distribution, licensing executable over two and a half years, will add USD 22 million of fresh deals in the next one-two months.

Lenders admit GTL to corporate debt restructuring

Lenders admit GTL to corporate debt restructuring (CDR),SBI Caps proposes restructuring of GTL loans
for over 8 years.Total loans under CDR around Rs 6,000 crore Interest rate on loans to GTL to reduced to 10.8% from 13.5%.

IVRCL under CBI Scanner

IVRCL Alleged for irregularities found in Tsunami housing project in Puducherry CBI alleges loss of Rs 35 crore to Puducherry & Central Govt

Reliance Communications Ltd's to sell Tower business to Blackstone and Carlyle Group

Blackstone and Carlyle Group have jointly expressed interest to bid for Reliance Communications Ltd's tower business.Bid offer valuing the enterprise at about $4 billion.Reliance Communications has put Reliance Infratel on the block looking at a valuation of around $5 billion which owns at least 50,000 towers,  RCom is open to selling its entire 95% stake in its tower arm. RCOM has to pay off debts estimated to be around Rs 32,000 crore, or about $7 billion.