BPCL takes back petrol pump from Lalu Prasad’s son Tej Pratap Yadav Posted on 22nd July 2017 |
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| PATNA: Bharat Petroleum Corporation Limited (BPCL) on Thursday asked RJD chief Lalu Prasad's son Tej Pratap Yadav and his firm M/S Lara Automobiles to hand over to it, with immediate effect, the operation, assets and materials of a pump allotted to him here. In June, BPCL had terminated the allotment on the grounds that Tej, a minister in the state government, had furnished false information and concealed facts when he applied for the pump in 2012. However, on June 16, BPCL's action was challenged in the district court, which restrained it from terminating the allotment till further directive. Finally, on Wednesday, sub-judge Sachi Mishra vacated the temporary injunction and referred the matter to an arbitrator under the Arbitration and Conciliation Act. The petrol pump was commissioned on February 27 this year. In its termination order, BPCL stated that, in his application, Tej had attached a consent letter from M/S AK Infosystems to set up the petrol pump on its land. But, in reality, the land had already been transferred by the firm to Tej's brother Tejashwi Prasad, deputy CM in the Nitish government. In a showcause notice on May 29, BPCL had asked Tej to explain how he was carrying out the obligations of the firm and simultaneously discharging the duty of a minister. This was challenged by M/S Lara Automobiles in a Patna civil court on June 8. BJP was quick to demand the resignation of Tej and Tejashwi, who has been booked by CBI in a graft case pertaining to Lalu's tenure as rail minister. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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