Sudarshan Venu to be TVS JMD for 5 yrs
New Delhi: TVS Motor Company Sunday said it has secured shareholders’ approval to reappoint Sudarshan Venu as Joint Managing Director for next five years. Venu is the son of the company’s Chairman and Managing Director Venu Srinivasan. The company has got the approval to reappoint “Sudarshan Venu as Joint Managing Director of the company for a further period of five years commencing from 1st February 2018,” it said in a regulatory filing. The company took shareholders’ approval through postal ballot.
Deepak Fertilisers to raise Rs500 cr via NCDs
New Delhi: Deepak Fertilisers and Petrochemicals Sunday said it has secured shareholders’ approval to raise up to Rs500 crore by issuing non-convertible debentures on a private placement basis. In a regulatory filing, the company said it has secured “approval to offer or invite subscriptions for secured redeemable non-convertible debentures, aggregating to Rs250 crore with an option to raise additional amount up to Rs250 crore as a green shoe option on a private placement basis”. The company received shareholders’ approval through postal ballot and the same has been passed through requisite majority, according to the regulatory filing.
Iraq invites energy cos to build Kirkuk pipeline
Baghdad: Iraq’s Oil Ministry Sunday invited foreign oil companies to express interest in building a new oil export pipeline from the Kirkuk oilfields. In a statement, Iraq’s oil ministry said it has set Jan. 24 as a deadline for interested companies to submit letters of interest in building the new pipeline. The new pipeline will replace an old and severely damaged section of the Kirkuk-Ceyhan pipeline.
213 rly projects report cost overrun of Rs1.61L cr
New Delhi: Sixty per cent of railway projects out of the total 353 central sector projects are facing huge cost overrun due to various reasons, according to a government report.
As many as 213 railway projects are facing total cost overrun of Rs1.6 lakh crore, as per the flash report of the Ministry of Statistics and Programme Implementation (MOSPI) for September 2017. According to the report, the total original cost of these 213 projects was Rs1,21,595.36 crore. The total anticipated cost of these projects is estimated at Rs2,83,482.35 crore, which indicates overall cost escalation by 133.14 per cent. The ministry monitored 353 projects of Indian Railways in September this year. The study said that as many as 36 railway projects reported time overrun or delay of 12 months to 261 months. After railways, power sector reported second highest incidence of overall cost overrun.
Unlimited voice and data plan
New Delhi: Vodafone India Sunday announced a new pack for its prepaid customers. Priced at Rs198, this is the newest and the lowest priced plan under the unlimited range of offers from Vodafone that will take care of both voice and data needs of the customers. The pack offers unlimited local and STD voice calls and 1GB data per day at Rs198. As a part of this offer, customers will also enjoy unlimited local and STD calls even while roaming in India. The pack also offers 100 free SMS per day. It comes with a validity of 28 days and is available across all its 4G circles.
Male cabin crew on Vistara
Mumbai: Tata-SIA-run Vistara will soon have a mix of female and male cabin crew on its flights. At present the airline employs female members for various jobs in the cabin. But in a policy shift, it has decided to hire male crew members too, an airline official said. As much as 20-25 per cent of the cabin crew will be male members, the official said. “As an equal-opportunity employer, it has always been part of our plans to have mixed cabin crew,” he said. Vistara currently employs about 1,800 people to carry out its pan-India flight operations from across 21 domestic airports. Of this, around 500 are cabin crew.
