Daily Sector News Today – 06.09.2017
* AVIATION: The government is unlikely to allow foreign bidders to have a majority stake in Air India, which is in the process of privatisation.
* BANKING: Former Reserve Bank of India Governor Raghuram Rajan said muchwork remained in cleaning up India's banking system.
- Banks have started work on debt resolution plans or are in the process of initiating insolvency proceedings against defaulters named in the central bank's second list well in advance of Dec 13 deadline.
* CORPORATE: The government has "struck off" 209,032 companies from the Registrar of Companies Act, the finance ministry said. The bank accounts of these companies have also been frozen, it added.
- The National Company Law Tribunal has dismissed a petition filed by Connaught Plaza Restaurants Managing Director Vikram Bakshi against the termination of a franchise pact between the company and McDonald's India.
* OIL AND GAS: INDRAPRASTHA GAS, INDIAN OIL CORP-Adani Gas combine and HINDUSTAN PETROLEUM CORP-OIL INDIA joint venture are set to win licences to distribute gas in one city each in the latest round of auction.
* TELECOMMUNICATION: Bharat Sanchar Nigam is eyeing revenue worth 7-8 bln rupees from its new vertical under which it is offering services of Goods and Services Tax Suvidha Provider and Application Services Provider, Chairman and Managing Director Anupam Shrivastava said.
- The Telecom Regulatory Authority of India has suggested delicensing 1 MHz of spectrum from the 868 MHz band and a chunk of 6 MHz of spectrum from the 915-935 MHz band in order to facilitate smooth roll-out of machine-tomachine services.
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* BANKING: Former Reserve Bank of India Governor Raghuram Rajan said muchwork remained in cleaning up India's banking system.
- Banks have started work on debt resolution plans or are in the process of initiating insolvency proceedings against defaulters named in the central bank's second list well in advance of Dec 13 deadline.
* CORPORATE: The government has "struck off" 209,032 companies from the Registrar of Companies Act, the finance ministry said. The bank accounts of these companies have also been frozen, it added.
- The National Company Law Tribunal has dismissed a petition filed by Connaught Plaza Restaurants Managing Director Vikram Bakshi against the termination of a franchise pact between the company and McDonald's India.
* OIL AND GAS: INDRAPRASTHA GAS, INDIAN OIL CORP-Adani Gas combine and HINDUSTAN PETROLEUM CORP-OIL INDIA joint venture are set to win licences to distribute gas in one city each in the latest round of auction.
* TELECOMMUNICATION: Bharat Sanchar Nigam is eyeing revenue worth 7-8 bln rupees from its new vertical under which it is offering services of Goods and Services Tax Suvidha Provider and Application Services Provider, Chairman and Managing Director Anupam Shrivastava said.
- The Telecom Regulatory Authority of India has suggested delicensing 1 MHz of spectrum from the 868 MHz band and a chunk of 6 MHz of spectrum from the 915-935 MHz band in order to facilitate smooth roll-out of machine-tomachine services.
