The licence originally issued in 2003 was to expire in January 2024. This will allow Lanka IOC to continue its retail operations on the debt-trapped island nation until January 22, 2044.
According to the report, major reasons for delays were due to processes related to change of land use and sanction of term loans.
However, correction in IT counters ahead of their quarterly earnings announcements scheduled to come later this week put a check on the markets rally.
Difficult to recover dues are those that could not be recovered even after exhausting all modes of recovery.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was flat at 104.35.
He said India has already flagged its concerns over the carbon tax with the European Union (EU) and in the WTO (World Trade Organization).
Adani Enterprises Ltd, the ports-to-energy conglomerate’s flagship firm, said its subsidiary AMG Media Networks Ltd “has executed a share purchase agreement for the acquisition of remaining 51 per cent stake in QBML”
The trade pillar is one of the most crucial parts of IPEF that seeks commitment on sensitive areas as agriculture, digital trade and labour and could require changes in domestic regulation.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers
“There are no fintech regulations right now. We are talking to the industry and understanding whether there is a need to regulate them. We cannot give a timeline at the moment. But it will come only after consultation with them,” he said at the Moneycontrol Startup Conclave.