Jun 13, 2016 - Lenders ask Lanco Infratech's promoters to reduce stake

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Sree Vijaykumar From the Editor's Desk Technology is going through an awkward adolescent phase right now. The smartphone led innovation era is done, while promising new technologies like AI and IoT are still some years away from becoming scalable practical applications. Automated cars are a few years away. So are smart wearables. While there is no doubt that some of these technologies will change our lives in ways that we cannot even imagine right now, tech companies need to find the will (and the funds) to keep investing in the future. Google is a good case in point. Lenders ask Lanco Infratech’s promoters to reduce stake Lanco group, saddled with debt of a little over Rs 41,000 crore, may receive fresh loans of Rs 4,000 crore if it executes the new restructuring proposal. Sleepwell parent Sheela Foam hires bankers for Rs500 crore IPO Edelweiss Financial Services Ltd and ICICI Securities Ltd will manage the process and work has been initiated on the IPO Ahead of $20-billion outflow, banks alert RBI about possible dollar shortage in market SBI, Indias largest lender, has suggested that the regulator should consider lowering the cash reserve ratio to improve liquidity in the money market. Payments banks: How many more will call it quits? RBI governor Raghuram Rajan is not ‘overly perturbed’ about payments bank licences being surrendered as it shows firms aren’t not doing proper assessment while applying for the banking licence You go to war with weapons, not bare hands: SBI’s Arundhati Bhattacharya SBI chief Arundhati Bhattacharya on bad loans plaguing India’s banking sector and need for more tools to handle them GMR to freeze capex in some areas as it tries to cut debt The group, which has been selling assets across sectors, is also eyeing contracts that need lower investments I Squared Capital to invest up to $1 billion in India I Squared Capital has committed to invest in road assets worth Rs8,000 crore through Cube Highways, and in assets worth Rs2,000 crore to its rooftop solar platform Amplus Energy Solutions Coal India aims to buyback shares worth Rs 1,978 crore The buyback represents 22.62 per cent of the total number of equity shares in the paid-up share capital of the NGL. IRDAI to meet to accord approval to foreign re-insurers Germany's Munich Re and Hannover Re, Swiss Re from Switzerland, SCOR of France, and the UK-based Lloyd's are looking to foray into Indian market. SBI begins working on framework for subsidiaries merger The team has been formed under the supervision of associate and subsidiaries department, which is being headed by managing director V G Kannan. Sebi widens share conversion scam probe; hundreds under scanner Sebi suspects hundreds of individuals and entities to be involved in case wherein several listed blue-chip companies are said to have been defrauded. Sebi seeks service tax exemption with retrospective effect In 2015 a summon was issued to Sebi to provide details of fees collected by it between July 2012 to December 2015, which were replied to by the regulator. Sebi to relax REIT, portfolio manager norms to woo investors REITs would be allowed to have larger number of sponsors, while regulations regarding minimum public offer size and related party transactions to be eased. Future Generali eyes Rs 3,000 crore business in 3 years, says CEO Riding high on the economic growth, the company expects GDP to expand at a higher rate which will create demand for insurance products. As India's power grows, China's containment strategy will get frenetic Pitching India in front of American businesses and investors Modi said that India is poised as the "new engine of economic growth" 650 branches of India Post Payments Bank to come up in all major districts Cabinet on June 2 cleared the proposal to set up India Post Payments Bank (IPPB) with a corpus of Rs 800cr & a plan for 650 branches operational by Sept '17. ​Top 5 sectors that will get a boost if the monsoon outcome is good "Given the global uncertainties, it is likely that foreign participants would be confident about India and the economy will continue to attract investment." Turns out, climate change hurts globalized economy too The globalization has made the economic production far more vulnerable to the impacts of extreme weather, including heat stress on workers, according to a new study. Amazon CEO Jeff Bezos wants PM Narendra Modi to let online marketplace have inventories too Such a move, if accepted, would amount to a dramatic relaxation of the rules announced recently for online retailers with overseas investment. Clothing market for Indian men is ignored, says designer Nikhil Mehra - Nikhil Mehra of Shantanu & Nikhil talks about clothing market for men in India. Coffee Day Enterprise subsidiary 'Sical Logistics' to raise Rs. 100 crore CHENNAI: Coffee Day Enterprises, which runs cafe chain under the brand Cafe Coffee Day, on Saturday announced that its subsidiary Sical Logistics would raise Rs 100 crore through non-convertible debentures (NCDs) on private placement basis. FreeCharge sees 15% growth in monthly transactions The Bengaluru-based company, which aims to have five million merchants over next 18 months, has also crossed the 1,00,000-merchants mark on its platform. Fieldfresh Foods eyes kiranas to ramp up distribution presence The company, a 50:50 venture between Del Monte Pacific Ltd and Bharti Enterprises, recently refurbished its range of emulsions which includes mayonnaise. Croma rejigs strategy to make existing stores profitable Consumer electronics store chain Croma is consolidating its retail business by expanding its presence in the existing cities. Meet Kanwar Rameshwar Singh Jamwal, the man who aims to make Tatas' e-commerce venture CliQ make a mark Jamwal, who is in charge of new projects at Tata Industries, recalls chairman Cyrus Mistry's short but clear approval email in 2013 — “No me-too business”. China links Nepal with optical fibre to end 'India dependence' China has extended its optical fibre network to Nepal via Geelong(Keyrong)-Rasuwgadhi border point, "which has ended Nepal's sole dependence on India".. Cross-Border Data Flows Debate Hits India as TRAI Issues Paper on Cloud Services CEOs of mobile firms meet DoT secretary, say will accelerate planned capex TRAI Issues Pre-consultation Paper on Net Neutrality TRAI has issued pre-consultation paper giving out certain possibilities to ensure a more democratic access to OTT service providers like Facebook and WhatsApp. As Sales Of Smartphones Slow, India Remains One Bright Spot Global smartphone sales will continue to slow and will no longer grow in double digits, according to new research by Gartner Inc. In the midst of this slow down, India and China remain the two bright spots. Trai issues new format for account reporting by operators Telecom regulator Trai today issued new norms for submission of accounts by service providers, clubbing reporting of various segments into seven heads from 11 earlier. Enabling the transformation of telecom service providers to digital service providers The push for transformation stems from changing consumer expectations The launch of the Indian Government’s Digital India initiative signaled an acknowledge.. With monsoon calling, mobile signals to get worse If you have just faced your nth call drop or have been facing a weak mobile signal, there's more bad news on the way . Experts say with monsoon setting in, the situation is only going to get worse. Call drops stump cellphone users A flawless connectivity on cellphones is a big challenge even as "flawless network" is the common pledge from service providers at the time a consumer buys it. Family offices of Alibaba's Jack Ma & Joseph Tsai exploring investments in india While their personal investment vehicles are yet to park money in Indian startups, feelers have been sent through informal networks. Flipkart to soon roll out services allied to the automobile category in a bid to make buying vehicles more convenient online Will include processing of road tax, paper work for insurance and after-sales services Top IT companies like Infosys, Wipro and others tightlipped on employees right to form unions IT companies employing hundreds of thousands of people in multiple locations did not reveal if there exists or not a union created by their employees. Why employees at startups are having to cope with unprecedented levels of anxiety As funding dries up and job losses pile up, startup employees are having to cope with high levels of anxiety — and the cracks have begun to show. How startups like ThePorter, LetsTransport, Blackbuck are driving unorganized trucking business towards efficiency? A fleet of startups is following an Uber-like model to organize truckers, track consignments and take the unreliability out of the logistics sector. Will FY17 be a challenging year for the Indian IT firms? Headwinds in retail, healthcare may lead to quarterly ups and downs in Infosys’s performance, its COO Pravin Rao has warned Facebook, Microsoft, Google agree to work with Bangladesh government over "inappropriate contents" Tarana Halim said that not only social media giant Facebook, but the two internet behemoths, too, have also agreed to respond to the government's request within two days. Internet devices firm Gaia Smart Cities acquires Netcore's Internet of Things business in equity deal Netcore operates in providing communication technology to business organisations. 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