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Loss-making Vi had on June 22 opted for a four-year deferment of these additional dues. But it needs to inform the DoT by Friday (September 16) on whether it would also opt for conversion of the accrued interest on such deferred AGR-related dues (for FY18 and FY19) into equity. A query to Vi remained unanswered at the time of going to press.

Bindu Darshan Shah, the proprietor of the firm, wrote in his report that “the said Shares were acquired by the Trustee against invocation of pledge made by the Promoter/Promoter Group of the Company. The management of the company believes that the Trustee does not have any voting rights on invoked shares since no beneficiary rights are being transferred except for sale of the invoked shares.”

The boards of government-owned companies will now be able to decide on a strategic divestment or minority stake sale in their subsidiaries, units and joint ventures. The Department of Investment and Public Asset Management (DIPAM) on Thursday issued detailed guidelines for public sector enterprises (PSEs) on dealing with their downstream investments.

The main concern is how accumulated rupee amounts in these accounts can be repatriated without attracting penalties in case the banks are from countries facing international sanctions such as Russia.

The government had budgeted Rs 39.44 lakh crore expenditure for FY23 and a total borrowing of Rs 14.13 lakh crore. The April-September borrowing was pegged at Rs 8.45 lakh crore.

The Indian subsidiary of Suzuki Motor plans to leverage the global resources of the Japanese parent and its alliance partner, Toyota Motor, to increase its overseas shipments, which in the last fiscal year accounted for a little over 40% of the exports from India.

While Grey Birch Investment sold 2.20 million shares worth 413 crore, Plenty Private Equity offloaded 1.84 million shares valued at 346 crore. Shares of PVR declined 4.4% to 1,845 on Thursday.

Agro-chemical firm, UPL, has acquired 26 per cent stake in Clean Max Kratos Pvt Ltd, which is into renewable energy. Clean Max was incorporated on July 28 with paid up capital of Rs 1 lakh.

The IPO consisted of the fresh issue of 15.8 million shares. The Thoothukudi-based private lender allotted 71,28,000 equity shares to 10 anchor investors ahead of the IPO, raising ₹363.53 crore at ₹510 apiece.

By definition, every downturn starts from a peak in the business cycle when activity is strong. The rapid shift from strong and rising economic activity into a contraction is what makes turning points hard to predict.