India’s top industrial houses including Adani Group, HCL, MRF and ITC among others have pledged investments worth over Rs 30,000 crore in Tamil Nadu, on first day of the state’s first-ever Global Investor Meet (GIM) on Wednesday.

Leading the investments is Adani Group which would invest between Rs 10,000 and 15,000 crore in the state to set up power plants and ports. Gautam Adani, chairman of Adani Group said that Tamil Nadu offers tremendous potential and that the company is setting up a 650 MW solar plant, likely to be operational by March 2015. “We are now investing in port and non-renewable power projects (thermal),” he said.

Cases of Indians holding funds stashed abroad and falling under the purview of the new anti-black money law will not have scope to enjoy the facility of compounding of the offence as compared to such provisions existing in the Income Tax Act, the CBDT has said.

The Compounding of Offences is a provision undertaken by the taxman under section 279(2) of the I-T Act keeping in view factors such as conduct of the person, nature and magnitude of the offence, cooperation extended by the assessee to the department during probe and facts and merits of each case.

Mahindra & Mahindra Limited is signing an MoU with the Tamil Nadu government to invest around Rs 2,000 crore in Mahindra Research Valley, near Chennai.

The investment will be to set up a new test track for MRV and an automotive plant to meet the company's future needs over next 5 years.

Yes Bank is planning to raise around $1 billion in 2016 to support its growth plans.

Speaking on the sidelines of Tamil Nadu Global Investors Meet at Chennai today, Rana Kapoor, founder & CEO, Yes Bank said that last year the lender had raised half a billion dollars and considering the 25-27 per cent growth it is planning to raise $1 billion next year.

New Delhi: Tata Motors Ltd, India’s largest automobile maker, may be just around a year away from launching the first of two vehicles that are the outcome of its collaboration with British marquee brands Jaguar and Land Rover (JLR), which it acquired eight years ago for $2.3 billion from Ford Motor Co.

Tata Motors has awarded contracts to three key Indian auto parts suppliers to source components for sport utility vehicles (SUVs) being built in association with JLR, two people directly involved in the matter said on condition of anonymity.

German luxury carmaker Mercedes-Benz on Wednesday commenced the production of its new generation car CLA sedan in India.

“Local production will make the CLA even more attractive for the discerning buyers with additional value propositions and increased availability,” Mercedes-Benz India MD & CEO Eberhard Kern said in a statement.

Walt Disney Co’s studio unit said customers of Amazon.com Inc and Microsoft Corp’s video services will get access to the collection on its cloud-based movie storage service from Tuesday.

Studios like Disney, which has made blockbuster films like “Frozen” and Marvel’s “Guardians of the Galaxy,” have been attempting to steer movie fans towards digital purchases as sales of DVDs decline.

The BSE Sensex and NSE Nifty on Wednesday are likely to open higher tracking SGX Nifty and strong global cues.

At 8.15 am (IST), SGX Nifty was up 108 points, or 1.38 per cent, at 7,844.

Infosys shares gained over 3 per cent in morning trade on Wednesday after the company said that the US Labor Department cleared the IT major of any wrongdoing and has closed the investigation into US Visa violation case.

At 11.15 am, the shares were trading 3.14 per cent higher at Rs 1,092.60. On NSE, the shares were trading 3.17 per cent higher at Rs 1,092.40. Sensex was up 304.40 points at 25,622.27 during the same time.

NEW DELHI: The old Airbus A-320 which made an emergency landing in Delhi on Monday night-leaving 20 passengers injured-had given signs of trouble earlier in the day, but these were either ignored or hastily addressed by the airline.

Author William Dalrymple, who was on this Khajuraho-Varanasi-Delhi flight, told the media that the flight was first cancelled in Khajuraho. All passengers were returned their check-in bags at the airport.

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