Stay on DLF penalty
New Delhi, Nov. 9: The Competition Appellate Tribunal (Compat) today stayed the Rs 630-crore penalty imposed by fair trade watchdog, the Competition Commission of India (CCI), on realty major DLF over alleged abuse of dominant market position. A three-member bench headed by Justice Arijit Pasayat stayed the operation of the CCI order imposing the penalty.
Mumbai, Nov. 9: The liberalised scheme for a 1 per cent interest subsidy by the government on housing loans up to Rs 15 lakh will be available for borrowers whose loans were sanctioned and disbursed from April this year, the Reserve Bank of India said today.
New Delhi, Nov. 9: The government has decided to increase interest rates on post office savings deposits to 4 per cent from 3.5 per cent at present. “We have taken a decision. We will be issuing a release on that soon,” economic affairs secretary R. Gopalan said.
Calcutta, Nov. 9: Garment retailer Reliance Trends hopes to break even this fiscal backed by strong sales from private brands. The company, a wholly owned subsidiary of Reliance Retail, plans to have a topline of Rs 650 crore.
Paris, Nov. 9: Steel giant ArcelorMittal risks having its credit ratings lowered to “junk” level after Standard and Poor’s revised its outlook on concerns that the Luxembourg-based company won’t be able to cut its debt. The company had nearly $25 billion in debt at the end of September.