Reliance Infra to complete sale of DelhiAgra Toll Roadway by Augustend

first_imgNew Delhi: Reliance Infrastructure Thursday said the sale of its entire stake in the Delhi-Agra Toll Roadway to Singapore-based Cube Highways will be completed by the end of August 2019. Reliance Infrastructure had signed a binding share purchase agreement with Cube Highways for its 100 per cent stake in Delhi-Agra toll road for Rs 3,600 crore. “Reliance Infrastructure will receive enterprise value of Rs 3,600 crore including equity of up to Rs 1,700 crore,” the company said in a regulatory filing, adding that it will utilise 100 per cent of proceeds only for debt reduction. Also Read – Maruti cuts production for 8th straight month in Sep The firm said that with this transaction, its debt of will reduce by over 25 per cent to less than Rs 5,000 crore. Cube Highways and Infrastructure III Pte Ltd is a Singapore-based company formed by global infrastructure fund – I Squared Capital and a wholly-owned subsidiary of the Abu Dhabi Investment Authority. Last week, ratings agency India Ratings downgraded Reliance Infrastructure’s long-term issuer rating to ‘D – Issuer Not Cooperating’. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to Customs The downgrade came barely a week after the Anil Ambani-led company’s auditors raised red flags over its financial results as well as “significant doubt” over the group’s ability to continue as a going concern. Reliance Infrastructure had reported a net loss of Rs 3,301 crore for the quarter ended March 31 on a consolidated basis. The company had recorded a profit of Rs 133.66 crore in the corresponding quarter of the previous financial year. On an annual basis, it had incurred a loss of Rs 2,426.82 crore for 2018-19. It had reported a profit of Rs 1,255.50 crore in 2017-18. Shares of Reliance Infrastructure were trading 0.57 per cent lower at Rs 60.60 apiece on BSE.last_img read more

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Wife of cop killed in Jaffna reinstated to Police service

The wife of the policeman killed while giving protection to a judge in Jaffna, has been reinstated to the Police service.The National Police Commission said that it had recommended that the wife of policeman Sarath Premachandra be reinstated to the Police service. Mrs. Premachandra was in the police service earlier but was unemployed at the time her husband was killed.Premachandra was killed during a shooting incident in Jaffna when he was giving protection to Jaffna High Court judge M. Ilancheliyan. (Colombo Gazette) read more

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Hockey great turned motivational speaker to receive honorary degree at Spring Convocation

Brock University Spring Convocation 2019Monday, June 10: Faculty of Applied Health SciencesTuesday, June 11: Faculty of Social SciencesWednesday, June 12: Faculty of EducationThursday, June 13: Goodman School of BusinessFriday, June 14 (10 a.m. only): Faculty of Humanities; Faculty of Math and ScienceConvocation ceremonies are open to the public and tickets are not required. A reception for graduates, family and guests will follow each ceremony. Those unable to attend can watch a broadcast of each ceremony at brocku.ca/livestream Reggie Leach played 13 years in the National Hockey League, won a Stanley Cup and is one of the most prolific goal scorers in Philadelphia Flyers history. But if you ask him what his greatest accomplishment in life is, he’ll tell you it’s the work he’s done encouraging Indigenous youth to make smarter choices than he did.On Monday, June 10, the Riverton Rifle, as he’s known in hockey circles, will receive an honorary doctorate and give the Convocation address during the opening ceremony of Brock University’s Spring Convocation.This year’s Spring Convocation will include nine ceremonies over five days from June 10 to 14 in the Ian D. Beddis Gymnasium at Brock University’s Walker Sports Complex. Ceremonies will take place at 10 a.m. and 2:30 p.m. each day except for Friday, June 14, when only a morning ceremony is scheduled.“It’s quite an honour,” said Leach, who is of Ojibwe descent and a member of Berens River First Nation in Manitoba. “The things I have done over the years since I retired are about giving back and steering people in the right direction.“I try to explain to kids about the mistakes I made as a teenager and young adult. It’s our responsibility to guide these young people in the right direction,” he said.Leach now lives on Manitoulin Island, but it was during his time as a teammate of Bobby Clarke while playing with the Flin Flon Saskatchewan Bombers that his star first began to shine. After a stellar junior career, he was drafted by the Boston Bruins and played there and with the California Golden Seals before being traded to Philadelphia, the defending Stanley Cup champions, in 1974.Leach helped the Flyers successfully defend their Stanley Cup championship in 1975, and nearly again in 1976, but they were beaten by the Montreal Canadiens. Despite the loss, Leach was awarded the Conn Smythe Trophy as the playoff MVP after a season that saw him set Philadelphia’s all-time single-season scoring record of 61 goals, a mark that still remains today.Leach was an NHL All-Star in 1976 and 1980, and was inducted into the Philadelphia Flyers, Manitoba Hockey and Manitoba Sports halls of fame. He was a recipient of an Indspire Award in 2008 and was named to the Order of Manitoba in 2016.Today, Leach is a motivational speaker and plans to encourage the Brock University graduands to make the most of their lives.“Life today is all choices,” he said. “For young graduates going into this big, big world, remember why you went to university. Keep that focus going in the right direction.”He said young people today need to remember the power they hold to change lives.“My biggest thing is to be kind and gentle to everyone. Treat everyone the way you want to be treated,” he said. read more

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