Calcutta, April 16: Haldia Petrochemical’s share sale process by the Bengal government has hit a hurdle following a dispute over payment to its adviser Deloitte. “Deloitte had been appointed as a transactional adviser for valuation of HPL’s shares. But they wanted the entire fees of Rs 3.5 crore for the job in advance, which we did not appreciate,” Partha Chatterjee said in Writers’ Buildings today. “The process is stalled for the time being,” he added.
Mumbai, April 16: Market regulator Sebi today asked Osian’s Art Fund to wind up its “collective investment scheme” and refund the investors’ money with 10 per cent interest within three months.
Washington, April 16: The IMF has said “significant structural challenges” will affect India, but still projected a higher 5.7 per cent growth this year and 6.2 per cent next year. The IMF said growth would rise this year as a result of “improved external demand and recently implemented pro-growth measures”.
New Delhi, April 16: Sahara group today approached the Supreme Court seeking postponement of the scheduled hearing on April 22 on Sebi’s plea seeking permission to detain Sahara chief Subrata Roy and initiate contempt proceedings against him.
New Delhi, April 16: Drug firm Strides Arcolab and US-based Pfenex Inc have inked a pact to form a joint venture to develop and manufacture six biosimilar products for the global market.
