Utpal Bhaskar

New Delhi

Journalist at Mint

N.Delhi based journalist @livemint |[email protected]

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Articles

Adani TotalEnergies, Jio-bp, JBM eye Fortum's EV charging biz

1 month ago | livemint.com | Utpal Bhaskar

“Adani TotalEnergies, Jio-bp and JBM Group have signed NDAs (non-disclosure agreements) and are evaluating the deal, post which bids will be submitted," one of the two people cited above said, requesting anonymity. Also read | Hexa Climate Solutions acquires Fortum’s green energy portfolio in IndiaLondon-based Opus Corporate Finance Llp is running the transaction (termed Butterfly) for the EV charging business GLIDA, formerly known as Fortum Charge & Drive India.
HT Syndication: 3 cos eye Fortum EV charging biz in India

1 month ago | htsyndication.com | Utpal Bhaskar

New Delhi, May 1 -- Finnish state-run energy power utility Fortum Oyj has zeroed in on three potential suitors-Adani TotalEnergies E-mobility Ltd (ATEL), Reliance BP Mobility Ltd (Jio-bp) and Gurugram-headquartered electric bus manufacturer JBM Group- to offload a majority stake in its electric vehicle (EV) charging network business in India, two people aware of the development said.
HT Syndication: HDFC Bank cracks down on employees creating 'temporary' deposits

1 month ago | htsyndication.com | Shayan Ghosh |Utpal Bhaskar

New Delhi, April 29 -- India's largest private sector lender is cracking down on the practice of using temporary deposits at the end of reporting quarters to shore up numbers. HDFC Bank Ltd has sent multiple emails to employees, the latest one in late March, stating this would not be tolerated. Mint has seen a copy of the March-end email that notes the practice of creating deposits by using the bank's own loan facilities.
HDFC Bank cracks down on employees creating ‘temporary’ deposits

1 month ago | livemint.com | Shayan Ghosh |Utpal Bhaskar

HDFC Bank Ltd has sent multiple emails to employees, the latest one in late March, stating this would not be tolerated. Mint has seen a copy of the March-end email that notes the practice of creating deposits by using the bank's own loan facilities. “During (the) bank’s due diligence check, temporary creation of CASA/TD (current account and savings account/term deposits) has been identified by utilizing CCOD (cash credit, overdraft) without observable business logic/requirements," it said.
Why HDFC Bank is cracking down on ‘temporary’ deposits

1 month ago | flipboard.com | Shayan Ghosh |Utpal Bhaskar

2 hours agoTata Sons concludes probe into a top executive. Here’s the verdictA report of the three-member internal committee listed the lapses of Mukhopadhyay, a close aide to chairman Natarajan Chandrasekaran, but stopped …8 hours agoApple makes surprising move amid high China tariffsApple is quietly shifting its business to avoid tariff repercussions.
Fortum exits India renewables market with sale to I Squared's Hexa Climate

1 month ago | livemint.com | Utpal Bhaskar

There were five bidders in the sales process run by EY, including Japan’ Marubeni Corp, Dutch pension fund APG, and infrastructure fund manager AP Moller Capital. A total of 10 companies including steel and mining major ArcelorMittal had signed non-disclosure agreements (NDA) for the transaction termed as project Samsara. Mint couldn’t ascertain the value of the deal that marks an important point in the third-largest Nordic utility Fortum’ exit from India, a market that it entered in 2012.
HT Syndication: Fortum exits India renewables market with sale to I Squared's Hexa Climate

1 month ago | htsyndication.com | Utpal Bhaskar

New Delhi, April 27 -- Finland's state-run energy utility Fortum Oyj is exiting India's renewable energy market by selling its platform Fortum India Pvt Ltd (FIPL) to New York-based I Squared Capital-backed Hexa Climate Solutions, in a deal that includes management company and carbon credits, two people aware of the development said. There were five bidders in the sales process run by EY, including Japan' Marubeni Corp, Dutch pension fund APG, and infrastructure fund manager AP Moller Capital.
HT Syndication: Gensol's West Asia operations look to separate from parent, mitigate fallout from India scrutiny

1 month ago | htsyndication.com | Rituraj Baruah |Utpal Bhaskar

New Delhi, April 24 -- Amidst mounting scrutiny over alleged financial irregularities in India, embattled solar power EPC (engineering, procurement, and construction) company Gensol Engineering Ltd's West Asia operation is exploring a potential separation from the parent company.
Gensol’s West Asia operations look to separate from parent

1 month ago | livemint.com | Rituraj Baruah |Utpal Bhaskar

Two people aware of the development said that the Dubai-headquartered middle-east arm, which holds significant solar project contracts worth AED 175 million ( ₹406.75 crore), is considering the move to mitigate the fallout from its India troubles. “There is a plan being discussed to delink Gensol’s West Asia operations from the parent company to sequester it from the India fallout,"one of the two people cited above said, requesting anonymity.
HT Syndication: HDFC Bank's head of human resources on his way out

1 month ago | htsyndication.com | Devina Sengupta |Shayan Ghosh |Utpal Bhaskar

Mumbai, April 18 -- The chief human resources officer of India's largest private sector lender is leaving after nearly seven years at the bank, according to three people aware of the development. Vinay Razdan, group head of human resources and chief human resources officer, has been withHDFC Bank since September 2018. An alumnus of XLRI, Jamshedpur, Razdan is close to retirement, and his resignation has nevertheless come as a surprise, said the people cited above.