Setback to Hindustan Motors, SC upholds West Bengal govt's decision on land resumption
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
In a setback to Hindustan Motors , the makers of iconic Ambassador sedan, the Supreme Court on Wednesday upheld the West Bengal government's decision's for resumption of 395 acre of land under the West Bengal Estates Acquisition Act, 1953.Kolkata-based Hindustan Motors had stopped production of its legendary Ambassador sedan at its Uttarpara factory in Hooghly district in 2014. The state government took back 395 acre in 2022 through "resumption" from the company, which had been allegedly declared financially sick and its land was lying unutilised and unproductive.A Bench led by Justice BV Nagarathna refused to interfere with the Calcutta High Court decision upholding the state government's stand.The company alleged that the West Bengal government unlawfully took possession of its plant without notice.The Calcutta High Court in May dismissed the Hindustan Motors' petition challenging the order of the West Bengal Land Reforms and Tenancy Tribunal upholding the State's resumption of 395 acre of land under Section 6(3) of the West Bengal Estates Acquisition Act, 1953.The Mamata Banerjee government had earlier announced that the state faced a scarcity of land for industry and had decided to take back industrial land lying unused to allot it to new entrepreneurs.After taking back the land from Hindustan Motors, the government has given about 40 acre at Mouza to Titagarh Rail Systems on a 99-year lease for a consideration of Rs 127 crore to facilitate the establishment of additional production infrastructure and dedicated areas for forming, testing, and commissioning Metro coaches and Vande Bharat trains.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
NDTV
6 minutes ago
- NDTV
Maruti Suzuki Ertiga, Baleno Launched With Six Airbags As Standard; Check Prices
Toyota has recently updated the Glanza with six airbags as standard equipment across its entire variant lineup. Following this, Maruti Suzuki has updated its sibling, the Baleno, to feature six airbags as standard. Along with it, one of the most affordable MPVs in India, the Maruti Suzuki Ertiga, has received the same update. With this, Ertiga and Baleno have received a marginal price hike of 1.4 per cent and 0.5 per cent, respectively. Hence, Ertiga is now priced between Rs 8.96 lakh and Rs 13.25 lakh, while the Baleno starts at Rs 6.70 lakh and goes up to Rs 9.92 lakh (ex-showroom) for the most expensive variant. Also Read: 2025 Volvo XC60 Facelift To Launch In India On August 1 The upgrade in safety equipment comes as part of the brand's initiative to make its cars safer. With this, Ertiga and Baleno have joined the models from Nexa and Arena lineup like Alto K10, Celerio, WagonR, Eeco, Swift, Dzire, Brezza, Grand Vitara, Jimny, and Invicto to have six airbags as a standard feature across features. Ertiga Variants Price Comparison Variant Old Price New Price LXi (O) ₹8,96,500 ₹9,09,051 VXi (O) ₹10,05,500 ₹10,19,577 VXi (O) CNG ₹11,00,499 ₹11,15,906 ZXi (O) ₹11,15,500 ₹11,31,117 VXi AT ₹11,45,500 ₹11,61,537 ZXi+ ₹11,85,500 ₹12,02,097 ZXi (O) CNG ₹12,10,501 ₹12,27,448 ZXi AT ₹12,55,500 ₹12,73,077 ZXi AT ₹13,25,500 ₹13,44,057 The move from the brand is in sync with the government's initiative to make roads safer. Earlier, the Ministry of Road Transport and Highways (MoRTH) had mandated that all new passenger vehicles must have six airbags as standard equipment by October 2025. Hence, all the OEMs in India have already started making necessary changes to their products. Baleno Variants Price Comparison Variant Old Price New Price Sigma ₹6,70,000 ₹6,73,350 Delta ₹7,54,000 ₹7,57,770 Delta AT ₹8,04,000 ₹8,08,020 Delta CNG ₹8,44,000 ₹8,48,220 Zeta ₹8,47,000 ₹8,51,235 Zeta AT ₹8,97,000 ₹9,01,485 Zeta CNG ₹9,37,000 ₹9,41,685 Alpha ₹9,42,000 ₹9,46,710 Alpha AT ₹9,92,000 ₹9,96,960 Apart from six airbags, Electronic Stability Control (ESC), Anti-lock Braking Systems (ABS) with Electronic Brake-force Distribution (EBD), and ISOFIX child seat mounts are also becoming standard even in the lower-end models in an attempt to improve safety.
&w=3840&q=100)
Business Standard
6 minutes ago
- Business Standard
FD rates in July 2025: These 12 banks still offer up to 8.5% returns
Fixed deposit (FD) interest rates are on the decline once again, with State Bank of India (SBI), HDFC Bank, ICICI Bank, Indian Bank, Bank of Baroda and Canara Bank among those reducing rates by 10 to 25 basis points since June 2025. SBI's latest cut, effective July 15, 2025, lowers FD rates by 15 basis points for both general and senior citizens on tenures between 46 days and less than one year. These moves follow the Reserve Bank of India's decision to slash its benchmark repo rate by a total of 50 basis points over three consecutive cuts. Some banks still offer over 8 per cent on select tenures Despite the broader dip, a few banks continue to offer higher FD rates, particularly for risk-averse investors willing to park funds for specific durations. As of July 16, 2025, slice Small Finance Bank offers 8.50 per cent for a tenure of 18 months, Suryoday Small Finance Bank gives 8.40 per cent for FDs above five years and Bandhan Bank provides 7.40 per cent among private sector players. These rates apply to deposits below Rs 3 crore and may vary slightly by branch or mode of investment. Take a look at the banks offering the highest interest rate as of July 16, according to PaisaBazaar: Small Finance Banks Equitas Small Finance Bank Highest rate: 7.60 per cent for 888 days 1-year: 7.25 per cent, 3-year: 7.25 per cent, 5-year: 7 per cent ESAF Small Finance Bank Highest rate: 7.60 per cent for 444 days 1-year: 4.75 per cent, 3-year: 6 per cent, 5-year: 5.75 per cent Jana Small Finance Bank Highest rate: 8.20 per cent for 5 years 1-year: 7.50 per cent, 3-year: 7.75 per cent, 5-year: 8.20 per cent slice Small Finance Bank 1-year: 6.75 per cent, 3-year: 8.25 per cent, 5-year: 7.75 per cent Suryoday Small Finance Bank Highest rate: 8.40 per cent for 5 years 1-year: 7.50 per cent, 3-year: 8.15 per cent, 5-year: 8.40 per cent Ujjivan Small Finance Bank Highest rate: 7.75 per cent for 2 years 1-year: 7.65 per cent, 3-year: 7.20 per cent, 5-year: 7.20 per cent Unity Small Finance Bank Highest rate: 7.75 per cent for 1001 days 1-year: 6.50 per cent, 3-year: 7.25 per cent, 5-year: 7.25 per cent Utkarsh Small Finance Bank Highest rate: 8 per cent for 2 to 3 years 1-year: 6.25 per cent, 3-year: 8 per cent, 5-year: 7.50 per cent Private Sector Banks Bandhan Bank Highest rate: 7.40 per cent for 2 years to less than 3 years 1-year: 7.25 per cent, 3-year: 7.25 per cent, 5-year: 5.85 per cent CSB Bank Highest rate: 7.40 per cent for 13 months 1-year: 5 per cent, 3-year: 5.75 per cent, 5-year: 5.75 per cent DCB Bank Highest rate: 7.40 per cent for 25 to 26 months 1-year: 7 per cent, 3-year: 7 per cent, 5-year: 7 per cent Indian Bank Highest rate: 6.90 per cent for 444 days 1-year: 6.10 per cent, 3-year: 6.25 per cent, 5-year: 6 per cent TDS and tax treatment of FD interest Interest earned from fixed deposits is fully taxable and subject to tax deduction at source (TDS) once it crosses a certain threshold. 'Interest earned on FDs is taxable, with tax deducted at source (TDS) if it exceeds a specified limit,' said Adhil Shetty, CEO of BankBazaar. The 2025 Union Budget increased the TDS exemption limits: From Rs 40,000 to Rs 50,000 for general depositors From Rs 50,000 to Rs 1 lakh for senior citizens "Take the example of Shikha, a 35-year-old Ghaziabad resident earning Rs 75,000 annually in FD interest. Since the threshold for general citizens is now Rs 50,000, the remaining Rs 25,000 attracts TDS at 10 per cent. That means Rs 2,500 will be deducted upfront by the bank," Shetty explained. This amount is also added to her total taxable income. However, if her overall income is below Rs 2.5 lakh, she won't owe any additional tax. In such cases, she can avoid TDS by submitting Form 15G at the beginning of the financial year. Senior citizens in a similar situation can submit Form 15H instead.
Hans India
6 minutes ago
- Hans India
Gold rates in Delhi surges today, check the rates on 17 July, 2025
The gold rates in Delhi surged on 17 July, 2025. Going by the rates today, the price of 10 grams of 22-carat gold is at Rs 91,150 with a hike of Rs. 50 while the rate of 10 grams of 24-carat gold is at Rs. 99480 with a hike of Rs. 50. While the Silver rate is at Rs. 1,14,000 per kilogram. The gold rates in the international market have been fluctuating. Over the past few weeks gold rates have experienced a fall during the wedding season, fluctuating around Rs. 90,000 for 10 grams of 24-carat gold and approximately Rs. 100,000 for 10 grams of 22-carat gold. The gold prices mentioned here are due at 8am, the prices could alter at every moment and hence the gold buyers need to track the live prices at a given time. The mentioned prices here are closing prices of yesterday while today's price would begin either with a decrease or increase.
