City Delhi Financial News

Rolls-Royce Phantom collided with an oil truck moving on the wrong side. The oil truck overturned and caught flames after the accident, claiming the lives of the driver and his helper. As per the TOI report, the driver and helper were trapped inside the tanker and couldn't excape when it caught fire.

Delhi government officer Premoday Khakha, who allegedly raped a minor several times and impregnated her. His wife Seema Rani's judicial custody, who is accused of giving the girl medicine to terminate her pregnancy, was also extended by 14 days. Both were produced before Additional Sessions Judge (POCSO) Richa Parihar. Counsel for the accused, Umashankar Gautam said both the accused will be now produced in court after completion of their judicial custody on September 6. Khakha had allegedly raped the girl several times between November 2020 and January 2021.

Justice Prateek Jalan presided over a group of petitions challenging the confiscation of automobiles by the authorities. These vehicles were seized due to their infringement of court rulings prohibiting the operation of petrol and diesel vehicles exceeding 15 and 10 years in age, respectively. The court requested the Delhi government to establish a guideline for managing such vehicles in cases where owners pledge that these vehicles will no longer be used within the city limits.

Reliance Retail Ventures Ltd, the retail business of Mukesh Ambani’s Reliance Industries Ltd, is looking to raise Rs3,048 crore through an infrastructure investment trust (InvIT) of its warehousing and logistics infrastructure assets, shows a draft document filed with Sebi. ET first reported on 12 April that Reliance was planning to monetise the warehousing and logistics assets of its retail business through an InvIT and that the group had set up a trust under the name of Intelligent Supply Chain Infrastructure Trust for this purpose. Reliance Retail will hold a minimum of 25% units of the trust and balance will be sold to incoming investors. Of the total issue proceeds of Rs3,048 crore, around Rs100 crore will be used for acquiring equity shares of a special purpose vehicle (SPV) created to hold the warehousing assets, while a sum of Rs2,928 crore will be used to provide a loan to the SPV for acquisition of the warehousing and related logistics assets. The initial proposal is to acquire warehouse space of 12.77 million square feet and related logistics infrastructure for a consideration of Rs4,261 crore. Additionally, the trust has also entered into a lending agreement with Sikka Ports and Terminals Ltd, a Reliance group entity, to avail a rupee term loan of Rs2,122 crore, which will also be utilised towards acquisition of the warehousing assets. The portfolio of assets will comprise 64 warehouses spread across 34 cities across India including key warehousing markets such as Delhi NCR, Mumbai, Bengaluru, Chennai, Kolkata, Ahmedabad, Pune and Hyderabad.

(This story originally appeared in on Aug 23, 2023)

Weather update: The India Meteorological Department (IMD) has predicted extremely heavy rains over Uttarakhand, Sub-Himalayan West Bengal-Sikkim, Bihar today and tomorrow i.e. on 23 and 24 August. Apart from this, the weather department has also forecast heavy to very heavy rains likely over Uttarakhand, Himachal Pradesh, Northern parts of Uttar Pradesh & Bihar and over Sub-Himalayan West Bengal-Sikkim & Northeast India during next 2-3 days and decrease thereafter.

Joe Biden and slew of other world leaders will visit India in the second week of September for the G20 Summit. The main event will be held in the national capital on on September 9-10 and is likely to be attended by 29 heads of states as well as top officials of the European Union and invited guest countries and 14 heads of international organisations. Multiple hotels in the Delhi-NCR have been earmarked for attendees.

NCR) during the G20 summit on September 9-10 for seamless movement of 30 leaders, including invitees and their entourages, according to people aware of the matter. The movement of residents of Delhi-NCR could be restricted for three days, from September 8-10, they said, as most of the invitees will arrive in Delhi on September 8 and depart either on September 10 evening or September 11, the people said. While September 9-10 is a weekend, September 8 might be declared a holiday in New Delhi owing to the security arrangements for the event, according to those in the know. Special arrangements are being made for movement of the media covering the G20 summit, they said. More than 20 hotels in the capital have been booked for the visiting leaders — Saudi Arabia, US and China are expected to send big delegations to the event.

MPs in the Rajya Sabha and which is known to bail out the ruling BJP in getting crucial legislation passed in the Upper House, is unlikely to support the uniform civil code (UCC) draft legislation if the government decides to present it in the House, sources in the party have said. Regarding UCC, which is part of the BJP's ideological agenda, YSRCP leaders said it is not clear whether the ruling party at the Centre would bring any bill related to it.

Future Group companies on Tuesday moved the Delhi High Court against a debt recovery tribunal's July 31 order that restrained them from alienating their assets in recovery proceedings initiated by lenders. A bench led by Chief Justice Satish Chandra Sharma, while seeking response from the government, Future Group founder Kishore Biyani, Rattan India Finance, RBL Bank, Yes Bank and others refused to stay the DRT order.

₹50 crore from existing investors, International Market Management in UK and Hunch Ventures in India. In 2018, Indian venture capital firm Hunch Ventures took a significant minority stake in Dolomite Restaurants, owned by International Market Management (IMM), founded by Dolomite managing director Jasper Reid. This year IMM, Dolomite’s parent, sold its Wendy’s burger chain to Rebel Foods for an undisclosed sum.

Future Group companies on Tuesday moved the Delhi High Court against a debt recovery tribunal's July 31 order that restrained them from alienating their assets in recovery proceedings initiated by lenders. A bench led by Chief Justice Satish Chandra Sharma, while seeking response from the government, Future Group founder Kishore Biyani, Rattan India Finance, RBL Bank, Yes Bank and others refused to stay the DRT order.

Magicbricks rental index for the April-June period. While demand grew 18.1% sequentially, supply rose 9.6%. Based on the behaviour and preferences of over 20 million customers on the Magicbricks platform, the report observed that among notable cities, Bengaluru saw rents going up by 8.1%, Navi Mumbai by 7.3% and Gurgaon by 5.1%.

New Delhi: Unique Identity Authority of India (Uidai), the statutory authority overseeing Aadhaar operations, finally gets a head, though as a part-time chairman after over four years . In a Gazette notification on 21 August, the ministry of electronics and information technology (Meity) announced the appointment of eminent economist Neelkanth Mishra as a part-time chairperson along with two part-time members. Mishra will join Amit Agarwal in Uidai’s board.

Evera), the company said on Tuesday. «The collaboration will feature an integration of 200 EV charging points super hub in Delhi.

Manish Sisodia is concerned about the people of his constituency and sought the court's permission to use his MLA funds for its development, Delhi Chief Minister Arvind Kejriwal said on Tuesday. The court here on Tuesday allowed an application moved by Sisodia to release money from his MLA funds for development works in his Patparganj constituency.

Arvind Kejriwal approves the proposal to declare public holiday from 8 to 10 September in Delhi, in view of the G20 summit. All schools, govt offices including MCD offices will be closed on these dates.

Arvind Kejriwal. He had been deployed as an officer on special duty under former WCD minister Kailash Gahlot.

ICDs to Bangladesh using Inland Waterways, following the circular dated 09 September 2022. The circular dated 14th September 2022 paves the way for the transshipment of containerized export cargo from Bangladesh, destined for third countries, through India using riverine and land routes.

CBI on Tuesday told a Delhi court that it is in the process of filing a fresh supplementary charge sheet in a case related to the alleged Delhi excise policy scam against AAP leader Manish Sisodia and others. The central probe agency made the submission in response to a query by Special Judge M K Nagpal on whether the matter should be fixed for arguments on the framing of charges. The CBI replied in the negative and said that the investigation was still ongoing.

The Abhay Narendra Lodha Foundation was established on January 18, 2010, and is a non-profit charitable organization. It was founded by Abhay Lodha, Chairman, Topworth Group, which is primarily in the business of manufacturing steel and iron products. As part of the Foundation’s Environmental, Social, and Governance (ESG) role, the Foundation has undertaken a number of environmental initiatives.