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Real estate major DLF is asking its shareholders permission to set up a special pension scheme for its directors. The company said that while it is allowed to set up pension schemes for its employees in general, it wants to set up a specific limited pension scheme targeted at its directors who are retiring.
Continue ReadingDLF took yet another step forward in divesting its non-core assets. The real estate major is selling a large part of its wind energy business to a clean energy start-up Bharat Light & Power (BLP). Its wind energy division can generate up to 227 megawatts of wind energy through installations in 4 Indian states. Revenue from wind energy generation in 2011-12 was Rs 107.6 crore compared to total revenue of Rs 3,447 crore in its standalone financials.
Continue ReadingThe Competition Commission of India has imposed a penalty of Rs 630 crore on real estate developer DLF, for abusing its dominant position.
The commission said that DLF had a dominant position in the market for high-end residential properties in Gurgaon, and it imposed unfair conditions on consumers who had booked flats in these properties.
Continue ReadingMultiplex company PVR has called an extraordinary general meeting to issue shares on a preferential basis to DT Cinemas, a subsidiary of real estate major DLF. It is separately seeking approval for issuing shares to Major Cineplex Group Public Company, a Thailand-based multiplex operator.