"The board of directors of ICRA
Ltd, after due consideration and taking into account the best interests of the company and its various stakeholders, has decided to terminate the employment of Naresh Takkar as Managing Director and Group CEO of ICRA
, effective immediately.
These funds would help bring down the high debt-levels in the airline industry, Icra
said in a note.
Moody's, which initially invested in ICRA
in 1998, announced an initial INR2,000 per share offer for a majority of the target in February, increasing the price to the current level in late May.
, a credit rating agency, has warned that the non-performing assets in the Indian banking sector could go up to as much as 4.4 percent, resulting in soured assets of INR2.9tn.
The ratings are also boosted by the fact that Parakh Oils is among the leading wheat and pulses processors in the country and has a robust distribution network in western India, where it operates, ICRA
The reports have stated that ICRA
stated "We estimate the Indian passenger vehicle (PV) industry will reach 4.86 million in annual sales by FY16, representing a growth of 10.8 per cent CAGR (compound annual growth rate) over the next five years.'' It was reported that The Indian PV segment grew by 26 per cent to 19.5 lakh units in 2009-10 and is estimated to increase by 21-23 per cent to 24 lakh units in this fiscal.
The bank received 'A1+' rating from ICRA
for its Short Term Fixed Deposits programme.
The service, which is part of ICRA
's campaign to make the Internet safer for children and families, is supported by the advanced Surf content management system from Solarsoft, a provider of technologies and solutions for the Internet.
Available globally, the free ICRA
system enables content providers such as AOL to identify and label their web sites using neutral descriptions that empower parents from all cultures to filter Internet content based on their individual values.
At the same time, the company's non-fund based limits rating has been downgraded to ICRA
A4 plus from ICRA
The ratings are underpinned by the solid rise in orders intake, geographic diversification and the company's entry into sewerage treatment plant segment, ICRA