CMS TO SET UP WHOLLY-OWNED INDIAN UNIT

Article Abstract:

CMS Energy, a US power company, has decided to float a wholly owned subsidiary in India. It has earmarked an investment of Rs200 crore for the purpose. The investment would be utilised for identifying and developing projects in energy sector. This includes electric power generation, transmission and distribution, oil and gas exploration, transmission, storage and processing, energy marketing and electric and natural gas utility operations. The subsidiary will also make competitive bidding for potential projects and also conduct feasibility studies. (um)(psr)

Comment:

CMS Energy, a US power company, has decided to float a wholly owned subsidiary in India.

Foreign operations, Electric, Gas & Water Utilities, Utilities, ELECTRIC, GAS, AND SANITARY SERVICES, CMS Energy Corp., CMS, Public utilities

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FIs TO TREAT SPIN-OFF COS AS SEPARATE ENTITY

Article Abstract:

Financial institutions (FIs) in India are treating the firms spun off by corporate groups as separate entities. This action is aimed at maximising their corporate exposure. It also follows the existing rules that FIs should confine their exposure to 15 percent of the gross direct outstanding in the firm and 50 percent in a group. This move has proved mutually beneficial as companies get a higher leveraging and while the FIs can offer more loans. (ag)

Financial management, Financial Services, Finance and Insurance

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