Delhi Government Allocates Rs 1.50 billion for Advancing Construction of Two RRTS Corridors

DHFL scam; CBI arrests Dheeraj Wadhawan in Rs 340 billion fraud case

The Central Bureau of Investigation (CBI) has apprehended former DHFL Director Dheeraj Wadhawan over his purported involvement in a scheme to defraud a consortium of 17 lending banks amounting to Rs 340 billion, according to officials on May 16. Wadhawan was taken into custody from Mumbai during the night of May 13 and subsequently presented before a special court, which remanded him into judicial custody. He and his brother Kapil were previously detained in connection with the case on July 19, 2022.

The agency had submitted a charge sheet against 75 entities, including Kapil and ..

India's largest mall set to emerge at Delhi Airport's Aerocity by 2027

By the year 2027, a monumental addition is set to grace the landscape of the Indira Gandhi International Airport's Aerocity in Delhi?a sprawling retail marvel, poised to claim the title of India's largest mall. Spanning an impressive 2.8 million square feet, this ambitious venture is part of the Worldmark Aerocity expansion project, a colossal undertaking valued at $2.5 billion, as highlighted in a report by the Times of India.

The overarching vision for Worldmark Aerocity extends beyond mere retail dominance, aiming to establish India's pioneering aerotropolis?a dynamic urban expanse c..

Delhi Court Denies Supertech Chairman's Bail Extension

A Delhi court has refused to extend the interim bail of the chairman of Supertech Limited, dealing a blow to the real estate company's leadership. The decision comes amidst ongoing legal proceedings against the chairman, further complicating the company's situation.

The denial of bail extension indicates the court's stance on the severity of the charges against the Supertech chairman and underscores the legal challenges faced by the company. It reflects the court's commitment to ensuring justice and adherence to legal procedures.

The chairman's bail extension denial is likely to ..

L&T subsidiary opens new manufacturing unit in Saudi Arabia

L&T Valves Ltd., a subsidiary of Larsen & Toubro, established a new manufacturing plant in Al Jubail, Saudi Arabia, next to the Dammam-Abu Hadriyah Highway. One of Saudi Arabia's main providers of on-off valves is L&T Valves.

The manufacturing facility is being opened with the intention of satisfying the increasing demand from the Middle East. In keeping with Saudi Vision 2030, Anil V. Parab, Whole-time Director and Senior Executive Vice President, Heavy Engineering and L&T Valves, emphasised that the new facility will greatly improve local manufacturing capabilities..

LIC Housing Finance net profit dips 9.14% in Q4 of FY24; Rs 10.8206 bn

LIC Housing Finance disclosed a 9.14 % decline in its net consolidated profit for the quarter ending March 31, 2024. Its profit after tax reached Rs 10.8206 billion in Q4 FY24, down from Rs 11.9088 billion in the corresponding period of the previous fiscal, as per the company's filing with BSE. The net consolidated total income for Q4 FY24 amounted to Rs 69.4861 billion, marking an 8.04% increase from Rs 64.3123 billion in the same quarter last year.

Tribhuwan Adhikari, MD & CEO said, "Our focus on reduction in NPA and control over cost of funds have enabled us to close the year with a..