FM Logistic plans to double warehousing capacity in next 3-4 years

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CEO Soufiani expects sales to return to pre-Covid levels by March 2021 as 90 per cent of the business has already recovered by December

Topics
logistics | Warehousing sector

FM Logistic plans to double its warehousing space to 12 million sq ft in 3-4 years, from 60 lakh sq ft at present, as it expects demand for such facilities to increase, its MD and CEO Alexandre Amine Soufiani said.


He expects sales to return to pre-Covid levels by March 2021 as 90 per cent of the business has already recovered by December.


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Voda Idea deploys 3G spectrum for 4G services in Mumbai to increase speed

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Telecom operator on Saturday said that it has started using 3G spectrum for 4G services in and claimed that customers in the metro city will get higher data speed with the refarming of spectrum.


has 5 megahertz of spectrum in 2100 Mhz band which was being used for 3G services.



“Supplementing the existing 4G infrastructure with the expansion on 2100 MHz layer has brought about enhanced data speeds, besides a better indoor network experience for Vi customers in We request all Vi 3G customers to visit the nearest retail outlet at the earliest to upgrade to a 4G SIM, free of cost and start experiencing the full potential of Vi GIGAnet 4G,” Rajendra Chourasia, Operations Director- Mumbai, said in a statement.


Vi (Vodafone Idea) who are on 3G connection can get faster 4G experience when they use a 4G handset and a 4G SIM.


“This development coming on the heels of the deployment of 5 MHz of 2100 MHz spectrum band, means that Vi customers in will get to enjoy higher download and upload speeds apart from better

Delhi HC allows SFIO to quiz Singh brothers for 2 weeks starting Jan 1

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The has allowed the Serious Fraud Investigation Office (SFIO) to interrogate former Fortis Healthcare promoter Shivinder Mohan Singh, his brother Malvinder and two others in connection with an ongoing probe into the affairs of Religare Enterprises Ltd (REL) and Religare Finvest Ltd (RFL).


Justice Vibhu Bakhru allowed the to interrogate the Singh brothers, former CMD of REL Sunil Godhwani and Kavi Arora for two weeks from January 1, 2021 onwards.


All four were arrested by the Economic Offences Wing (EOW) of Delhi Police last year, for allegedly diverting RFL’s money and investing in other


However, the Ministry of Corporate Affairs (MCA) had directed to investigate affairs of REL in 2018 and thereafter, in February this year it was also asked to probe into the affairs of RFL, the agency had said in its plea.


The had moved the high court against a September 22 order of the trial court denying it permission to examine the four who are presently in judicial custody.


The trial court had denied the permission saying the agency was allowed to examine them earlier and that was

DoT asks e-commerce sites to pull down listings of mobile signal boosters

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With mobile network boosters becoming a major reason for poor service quality, the Department of Telecom has asked online sellers to pull down listings of such equipment, an official statement said on Thursday.


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The DoT has also carried out raids across multiple locations in South Mumbai over the last two days which led to the removal of 68 illegal boosters (or repeaters), it added. The action comes amid frequent complaints of poor network quality in various parts of the country.


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Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

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Dish TV may have to pay over Rs 185 crore in past dues: Sources

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Their total dues and debt in the firm will now go up to Rs 2,500 crore, leaving them with no option but to raise liquidity, according to sources

Topics
Dish TV | Essel Group


will have to fork out over Rs 185 crore in past dues towards licence fee as a result of the Cabinet decision, said sources close to the


Their total dues and debt in the firm will now go up to Rs 2,500 crore, leaving them with no option but to raise liquidity, according to sources. They will have to explore multiple options to do so, so that the business survives and can face com­pe­tition.



A spokesp­erson from the declined to comment.



Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue

Anil Ambani’s Reliance Capital gets 10 more bids for subsidiaries

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(RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said.


Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new bids have come in for Reliance Capital’s assets, taking the total number of bids to 70, the sources said.



State Bank of India’s subsidiary SBI Life has also shown interest in picking up Reliance Capital’s stake in Reliance Nippon Life Insurance, they added.


Reliance Nippon Life Insurance Company, a joint venture with Japan’s largest life insurer-Nippon Life which holds 49 per cent shareholding, has a paid-up capital of Rs 1,196 crore as of September 30, 2020.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during

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