NHAI files papers to raise Rs 10,000 crore via bonds
New Delhi: The National Highways Authority of India (NHAI) has filed draft papers with markets regulator Sebi to raise up to Rs 10,000 crore through bonds to finance its various projects. NHAI has filed papers for “public issue of taxable, secured redeemable non convertible bonds in the nature of debentures upto Rs 10,000 crore”. The funds will be used through the issuance of bonds in one or more tranches. Proceeds of the issue will be utilised towards part financing of different projects including Bharatmala Pariyojana as well as other operational, administrative and financial purposes, the draft papers filed with Sebi showed. Under the Bharatmala Pariyojana, government plans to build 50 new national corridors and connect 550 district centres with national highways. PTI
ONGC told to pay Rs 242 cr to Mumbai Port Trust
New Delhi: ONGC has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the two pipelines the company had laid within the limits of the state-run port. In a regulatory filing, state-owned ONGC said it is examining the admissibility of the claim. The Tariff Authority for Major Ports (TAMP) passed an order for wharfage compensation payable by ONGC on October 3, 2018. TAMP order stated that “ONGC shall pay to MbPT a compensation at one half of wharfage rate as applicable on the per tonne of crude oil which will be imported into the port of Mumbai through all or any of the ONGC pipelines.” PTI
Walmart deal: Income details of Bansals’ sought
New Delhi: The Income Tax Department has written to Flipkart founders Sachin and Binny Bansal seeking to know the details of the income earned following their share sale to US retail giant Walmart and when they would be depositing the advance tax, an official said. As per the Income Tax laws, both Sachin and Binny Bansal, being Indian residents, would be liable to pay 20 per cent income tax on the capital gains made from the sale of stake in Flipkart to the US-retail giant earlier in August. The tax law requires both the Flipkart founders to deposit advance tax on the assessed income from the deal with Walmart with the government. About 75 per cent of that tax has to be deposited by December 15, 2018, and the remaining by March 15, 2019. PTI
