Piramal Capital and Housing Finance (PCHF) and PHL Fininvest Pvt Ltd (PHLF) will issue Pass Through Certificates (PTCs) offering 10.50 per cent through a special purpose vehicle called ‘Master Trust 2019 Series I’. The Piramal Group’s real estate financing arms are in the process of raising about Rs 2,400 crore through a structured debt deal that will offer a new credit line to billionaire Ajay...
Meanwhile, those holding paperback licences will still have to get an NOC from the concerned RTOs for the processes, the transport commissioner’s office said. Smart card driving licence holders will no longer need a no-objection certificate (NOC) from the regional transport office (RTO) to renew the licence, get copies made or change the address. Acting on a directive passed by the Ministry Of Road...
The 11-storey building had been spending nearly Rs 1.12 lakh every year for an average annual consumption of 11,774 units, which is about ₹9,000 per month and daily consumption of 32 units. Having spent more than Rs1 lakh every year on electricity bills till now, the Krishna Mahal cooperative housing society in Chembur has managed to save 95% of that cost with its 7.15 kilowatt-power (kWp) rooftop solar...
MUMBAI: The high-security registration plates will be compulsory for all vehicles manufactured after April 1. RTOs in the city will have to ensure that brand new cars are fitted with the foolproof plates with chromium-based holograms. A circular with directives on implementation of the new plates has been issued to all 50 RTOs in the state. For existing vehicles, old number plates have to be replaced...
Chairman Ratan Tata and other trustees of Tata Trusts are in a huddle to quickly nominate representatives on the board of Tata Sons, people close to the development said. Tata Trusts can nominate one-third of directors at the group holding company, but it falls short on the count following the recent exits of Amit Chandra and Vijay Singh, and of Nitin Nohria earlier. TVS Group’s Venu Srinivasan,...
The Reserve Bank of India (RBI) is likely to reduce the cost of money for the second time in as many months as mounting concerns over a global economic slowdown, particularly in the US, and its impact on the emerging markets make investors rather wary of fresh investments into capital assets. According to an ET survey of 26 market participants, an overwhelming majority expect a quarter percentage point...
Electricity in the state is set to get more expensive from April 1. While the Maharashtra State Electricity Distribution Company Limited (MSEDCL) will hike the cost of electricity by 3% for every unit, Tata Power and Adani Electricity — which cater to Mumbaiites only — will increase the price by 2% and 1% respectively from April 1. However, most south Mumbai residents can rejoice as the Brihanmumbai...
MUMBAI: The Reserve Bank of India (RBI) is likely to cut benchmark policy rates by 25 basis points (bps) on 4 April, when it announces its first monetary policy for 2019-20, considering that inflation continues to undershoot the central bank’s trajectory and growth continues to taper off led by a global slowdown, according to economists and treasury heads surveyed by Mint. Nine out of 10 experts...
Mumbai: Muthoot Microfin, the micro finance arm of Muthoot Pappachan Group (MPG), may list in the local stock market as soon as mid-March, chairman Thomas John Muthoot said in an interview. The Rs 500-crore IPO together with another Rs 500-crore offer for sale for institutions will dilute the promoter stake in the company to 70 per cent from 86 per cent currently, Muthoot said. The company received a go...
The DN Nagar police have arrested an Andheri-based businessman on charges of cheating a home buyer by promising to sell him two 1BHK apartments in a Yari Road building for a price much lower than market rates, and allegedly defrauding him of Rs 33 lakh. Paresh Rao was arrested under IPC Section 406 (punishment for criminal breach of trust), 420 (cheating) and 34 (common intention) on Saturday night,...