Hyderabad headquartered IVRCL Infrastructures & Projects has revealed that the buildings and industrial structures (B & IS) division of the company has secured Rs 7.46 billion orders from various customers.
According to sources, the infrastructure company has bagged an order worth Rs 5.50 billion on turnkey basis from A.P. Cine Workers Cooperative Housing Society, Hyderabad for carrying out proposed group housing project.
(MBEL), the wholly owned arm of Moser Baer has announced that it has clinched a strategic alliance with UTV Motion Pictures for the exclusive home video distribution of UTV movies.
According to sources, the pact will give MBEL domestic rights to UTV`s home video catalogue which comprises of 10 films. Moser Baer Entertainment will also get home video rights to all UTV productions released until mid 2009.
Due to slump in passenger car sales, Toyota Kirloskar Motor has revealed that it is searching the options to trim down its production by 30 percent in the month of December.
According to sources, Toyota has a facility to generate over 5,000 units a month at its plant situated near Bangalore.
In a move to boost demand and tame worldwide crisis, government of the country on December 7, cut down Central VAT (Cenvat) by 4%.
Corporate advance tax collections in Mumbai give warning signals, indicating the tough situation ahead, following the global slowdown. The tax collection in Mumbai failed to meet its revenue target of 1.57 lakh crore for FY09 (April 2008-March 2009). Mumbai corporate tax collection contributes around 35-40% to the country's tax kitty. Tax collection has increased just 20% in the current financial year up to December, as compared to 60% in the same period last year.
The Securities and Exchange Board of India (Sebi) has increased the MF borrowing limit to 40 per cent without any publicity. Earlier, the borrowing limit was 20 per cent of net assets of the schemes. The move would prove beneficial for mutual fund industry which is under huge pressure due to global financial crisis. Mutual funds suffered a huge loss in their assets under management (AUM) during the year.
Government is unlikely to impose administrative charges on the successful bidder of 3G spectrum. The Telecom Regulatory Authority of India has earlier proposed to levy administrative tax of 2% of the highest bid amount as fees to use 3G frequencies. 3G spectrum auction process is scheduled to start on January 16. However, the Department of Telecommunication said that the proposed administrative charges would reduce the government's revenue by about Rs 5,000 crore. The regulator would discuss the stand taken by department of telecommunication in its next meeting.
Hyderabad headquartered IVRCL Infrastructures & Projects has revealed that the buildings and industrial structures (B & IS) division of the company has secured Rs 7.46 billion orders from various customers.
(MBEL), the wholly owned arm of Moser Baer has announced that it has clinched a strategic alliance with UTV Motion Pictures for the exclusive home video distribution of UTV movies. 
Due to slump in passenger car sales, Toyota Kirloskar Motor has revealed that it is searching the options to trim down its production by 30 percent in the month of December.
Corporate advance tax collections in Mumbai give warning signals, indicating the tough situation ahead, following the global slowdown. The tax collection in Mumbai failed to meet its revenue target of 1.57 lakh crore for FY09 (April 2008-March 2009). Mumbai corporate tax collection contributes around 35-40% to the country's tax kitty. Tax collection has increased just 20% in the current financial year up to December, as compared to 60% in the same period last year. 
The Securities and Exchange Board of India (Sebi) has increased the MF borrowing limit to 40 per cent without any publicity. Earlier, the borrowing limit was 20 per cent of net assets of the schemes. The move would prove beneficial for mutual fund industry which is under huge pressure due to global financial crisis. Mutual funds suffered a huge loss in their assets under management (AUM) during the year.
Government is unlikely to impose administrative charges on the successful bidder of 3G spectrum. The Telecom Regulatory Authority of India has earlier proposed to levy administrative tax of 2% of the highest bid amount as fees to use 3G frequencies. 3G spectrum auction process is scheduled to start on January 16. However, the Department of Telecommunication said that the proposed administrative charges would reduce the government's revenue by about Rs 5,000 crore. The regulator would discuss the stand taken by department of telecommunication in its next meeting.
