Idea gets show-cause for M&A norm violations in Punjab

Idea cellular,owned by the Aditya Birla group, received show-cause notice for violating norms in  Punjab circle. In 2008, Idea Cellular had bought 41.09 per cent stake in Spice, resulting in both operators having 12 licences in six circles. Recently, the Additional Solicitor General of India (ASGI) Amarjit Singh Chandhiok had said Idea Cellular had violated the merger and acquisition (M&A) norms.In...

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Punjab Based Companies

While Punjab contributes significant % of India's GDP, the no of companies based out of Punjab are few. While there are more than 20000 companies in India, only 211 of them are registered in Punjab amounting to less than 1%.While the sales of all Indian Companies is at 47 lakh crores, punjab based firms account for 37 thousand crores, i.e 0.8%. What is worrying is the net profit of all punjab based companies put together is -2314...

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New Levy to drive Property Prices in Punjab

The  new government levy for residential or commercial projects in municipal areas will drive property prices. With the present high input cost, the rise could be as high as 20% in the near future. The Department of Local Government, Punjab, has recently imposed Processing Fee (PF), External Development Charges (EDC) and Change of Land Use (CLU) for real estate projects falling in municipal areas across the state in...

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