STANDARD AUCTION PROCESS
IIFL Finance will comply with RBI suggestions in gold loan biz by March 31: Chairman
AK Purwar, Chairman & Independent Director, IIFL Finance, says the company is committed to addressing the RBI's concerns regarding their gold loan business and aims to be fully compliant by March 31. They anticipate a temporary setback but expect to regain their growth path and market share in the co-lending space.
RBI bans IIFL Finance from giving gold loans due to serious deviations
Gold loans constitute 32% or Rs 20,733 crore of IIFL Finance's total assets under management as of March 31, 2023, according to the finance company's annual report.
Dire Straits star Mark Knopfler sells guitars for millions at auction, know the cost
Dire Straits star Mark Knopfler's guitars and amplifiers have been sold for more than £8m at auction far more than had been predicted. Over 120 of his guitars and amps have been sold by Knopfler with 25% of the proceeds being contributed to charity.
Yamuna authority to auction plots for nursing homes, hospitals near the upcoming Jewar airport
In a strategic move, the Yamuna Expressway Industrial Development Authority (YEIDA) has launched an e-auction for prime plots near the upcoming Jewar airport. The initiative includes plots for nursing homes, hospitals, maternity centers, corporate offices, and senior secondary schools. Interested parties can apply for plot acquisition until January 1, 2024, with the e-auction process set to conclude by February 29, 2024.
IOC corners more than a third of D6 gas in latest Reliance auction
State-owned Indian Oil Corporation (IOC) has cornered more than a third of natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the KG-D6 gas, sources said. IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week.
Assam Pavilion opens up at India International Trade Fair, 2023
A slew of initiatives like One District One Product, GI products such as Assam Lemon, Gamusa, Muga silk etc.along with traditional dresses of Assam, Ease of Doing Business, Assam Start Up etc are being promoted in the Fair.
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Reliance re-launches auction for natural gas sale in line with new govt rules
Gas produced from wells drilled below seabed is used to produce electricity, make fertiliser or turned into CNG for powering automobiles or piped to household kitchens for cooking as well as in industries. The new government rules require bidders to state upfront if they were purchasing the gas through the auction for 'own use as end consumers (including for use of their group entities) or as a trader.
Reliance Industries and BP suspends gas auction after cap on traders' margin
"It is hereby notified that the current bidding process is suspended till further notice," the two firms said in a notice on Monday. It did not give the reason for the suspension but industry sources said this follows the government bringing out new rules that limit the margin that could be charged on sale of natural gas.
India will be first to hold satellite spectrum auction: Trai Chairman
India will be the first country to auction spectrum for satellite communication, and it should be designed to attract investments in the sector, telecom regulator Trai chairman PD Vaghela said on Tuesday.
ICC auction: Indian sports broadcasters raise red flags
The broadcasters are of the view that the Board of Control for Cricket in India (BCCI) has already shown the way to do transparent e-auctions, and the ICC can learn from them.
The new masters: How auction houses are chasing crypto millions
Sotheby's has sold $65 million of NFTs in 2021, while arch-rival Christie's has sold more than $100 million of the new type of crypto asset, even though they can be freely viewed, copied and shared like any other online file.
The New Masters: How auction houses are chasing crypto millions
Sotheby's has sold $65 million of NFTs in 2021, while arch-rival Christie's has sold more than $100 million of the new type of crypto asset, which uses blockchain to record who owns digital items such as images and videos, even though they can be freely viewed, copied and shared like any other online file.
Invesco breaks silence on Zee, says deeply disappointed with board, governance standard of company
While welcoming any potential strategic alignment, the fund – Invesco Developing Markets Equities (IDME) -- considered an ally of the Subhash Chandra family since 2002, have expressed concerns over some transaction terms that “enrich the Zee’s founding family at the expense of ordinary shareholders.”
DoT seeks TRAI's views on spectrum pricing, quantum ahead of 5G auction
The last round of spectrum auction, held in March this year, had raked-in winning bids of over Rs 77,800 crore for 855.6 MHz of spectrum. When contacted, TRAI Secretary V Raghunandan confirmed that TRAI has indeed received a reference from Department of Telecom (DoT) on 5G spectrum but declined to divulge exact contents of the communication.
Google, adtech firms targets of fresh EU privacy complaints
Alphabet unit Google and digital advertising firms are the targets of fresh privacy complaints filed in six EU countries on Thursday over the way they sell ads to potential advertisers through a bidding process.
Commercial mines auction: Government devising single window clearance mechanism
Delays in getting approvals, including environment and forest clearance, by the successful bidder after winning coal mine often leads to deferment in production. In order to attract bidders in auction of commercial mines, the Centre recently announced the launch of a project monitoring unit to facilitate early operationalisation of coal blocks.
Softbank-backed SB Energy singed; pulls maiden $600 million bond after poor investor demand
This will also arguably be the 1st renewable bond deal out of India that could not get subscribed even though the portfolio consists of largely Solar Energy Corporation of India (SECI) and NTPC projects, said industry analysts.
Govt prepares to auction coal to stressed power plants
The auctions, likely to start by February next year, will be reserved for non-captive power plants which do not have power purchase agreements (PPAs) for more than half their capacity, according to the bid guidelines released by the power ministry.
Local focus likely in 5G use case norms: Panellists
“Reliability on 5G technology and a vision of getting optimised speed to drive IoT is the future which India is looking to,” said Pamela Kumar, director general, TSDSI.
5 NBFCs plan to tap overseas market for raising up to $2.5 billion
Each of these NBFCs, with specific strength areas, is looking to raise $300-500 million.
Orissa High Court stays mining of three auctioned mines to NCLT companies
The interim order came in the course of the HC hearing a PIL that questions the state’s decision to allow Essar Steel Ltd, BSL and BPSL to participate in auctions of iron ore deposits two years ago.
Patanjali gets time till Jun 16 to submit revised bid for Ruchi Soya
Ruchi Soya in a regulatory filing today confirmed that the CoC declared Adani Wilmar as H1 (highest) bidder and Patanjali stood as H2 (second highest).
Adani group emerges as highest bidder with Rs 6,000 cr offer for Ruchi Soya
The Committee of Creditors (CoC) of Ruchi Soya, in its meeting held today, opened the bids submitted by the two contenders -- Patanjali group and Adani Wilmar, which sells cooking oil under the Fortune brand.
No case for holding spectrum auctions now: Big telcos to Trai
Newcomer Reliance Jio, however, said the auction schedule may be drawn up at the discretion of the regulator and the government.
Trai seeks views on sale of 5G services spectrum, other bands
The spectrum sale could put on the table 60% of unsold airwaves from the last October auctions and some 275 units of new spectrum in bands identified for 5G services.
NHAI to offer risk cover to woo investors for toll roads’ auction
NHAI is also proposing a third party engineering audit of the projects before they are bid out, process for leasing out projects would be started soon.
New policies to attract investments in oil & gas sector: Standard & Poor's
The new price formula and calibrated marketing freedom for gas produced from fields in difficult terrain could help attract investments in India's oil and gas sector, said Standard & Poor's Ratings Services.
Gas subsidy auction for power plants likely in few weeks
The third reverse e-auction to provide subsidy to buy gas for running stranded power projects and those operating at sub-optimal level is likely to be conducted in a few weeks.
MSTC to offer e-auction platform for power purchase agreements
If a state intends to buy power, either for long, medium or short term, they will now have to invite bids from power suppliers.
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