RELIANCE GROUP REACHES PACT WITH OVER 90% OF ITS LENDERS
MUMBAI: The Anil Ambani-led Reliance Group has reached an in-principle “standstill understanding” with more than 90% of its lenders, the company said on Sunday. A Reliance Group statement said that as per the understanding reached, 90% of its lenders will not enforce security and will not sell any of the shares pledged by the promoters till September 30, 2019, on account of lower collateral cover or reduced margin caused by recent unprecedented fall in share prices. The
Anil Ambani Group will pay the principal and interest to the lenders as per the scheduled due dates specified in the loan agreements, it said.
EVI Technologies plans 20,000 charging stations
NEW DELHI: Electric vehicle (EV) charging infrastructure provider EVI Technologies plans to invest around ₹100 crore in the next one and a half years to set up 20,000 charging stations across the country, a senior company official said. The firm, incubated at the Electropreneur Park funded by the ministry of electronics and information technology, has also tied up with BSES Rajdhani Power Ltd to set up around 3,000 electric vehicle charging stations in Delhi. “We have a target to create a network of around 20,000 EV chargers in the next one and a half years. This will include home and public charging stations,” EVI Technologies chief executive officer Rupesh Kumar told PTI.
Lemon Tree Hotels to have 12,000 rooms by 2021-end
NEW DELHI: Hospitality firm Lemon Tree Hotels is looking to have around 12,000 rooms in its inventory by the end of 2021 as part of its capacity addition plans, mainly in India, a top company official said. The mid-market hotels company has 53 hotels in 32 cites across its three brands— Lemon Tree Premier, Lemon Tree Hotels and Red Fox Hotels, as on January 31 this year. “We are pretty sure that by 2021-end, we will have 12,000 rooms mainly in India. We currently have around 5,500 rooms and we are building another around 3,500 rooms which are mostly our own,”
Lemon Tree Hotels chairman and managing director Patanjali Keswani told PTI. Besides India, the other markets that the company is looking at include Thimphu, Dubai and Kathmandu.
Nissan may appoint an outsider as board chairman
TOKYO: A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralise power at the top level, the Nikkei business daily reported on Sunday. Under Nissan’s current corporate charter, the position of board chair is automatically appointed to head the company board, the Nikkei said, citing a person familiar with the matter. Former chairman Carlos Ghosn had filled both roles prior to his arrest in November. The issue of Nissan’s chairmanship is now particularly important after the Japanese firm identified the concentration of power in one executive as one of the reasons Ghosn was able to carry out his alleged fiscal misconduct. Speculation has swirled about whether the newly appointed chairman of France’s Renault, Jean-dominique Senard, would assume the chairmanship of the company.
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