The UK High Court on Wednesday denied bail to diamond merchant Nirav Modi, who is fighting his extradition from Britain to India in the nearly USD 2 billion Punjab National Bank (PNB) fraud and money laundering case.

Judge Ingrid Simler at the Royal Courts of Justice said that there are substantial grounds to believe that Modi will fail to surrender. Moreover, the judge felt that there could be interference with the witnesses and obstruction of justice.

Digital payments major Paytm Wednesday said it will invest Rs 250 crore this year for the expansion of Paytm QR in tier IV and V towns.

"With this investment, Paytm expects to reach more than 20 million merchants across India by the end of this fiscal," it said in a statement.

Independent Directors' panel of Mindtree has said that Larsen and Toubro's open offer price at Rs 980/share appears "fair and reasonable".

The committee cited the closing market price of Mindtree shares on the stock exchanges on June 10, being "lower than the offer price" and said that L&T's offer price of Rs 980 a share is in accordance with the regulations and "appears to be fair and reasonable".

Indian Oil Corp has issued a tender for short-term commercial lease of its liquefied natural gas (LNG) storage tank at Ennore terminal near Chennai, according to a notice posted on the company website.

The company is seeking bids for the short-term lease for LNG unloading, storage and reloading services at the 5 million-tonnes-per-annum (mtpa) import facility which was commissioned earlier this year.

Kolkata: Kolkata-headquartered diversified conglomerate ITC Ltd has drawn up a capex of Rs 20,000 crore in multiple projects in multiple sectors across the country. Of this as much as Rs 5700 crore is being invested in various projects in West Bengal. The entire amount will be invested over the next few years, ITC Chairman Sanjiv Puri said in Kolkata on Tuesday.

The Reserve Bank of India said Tuesday that it has imposed a penalty on two prepaid payment instrument (PPI) issuers Yes Bank and ZipCash Card Services for non-compliance with regulatory norms.

A penalty of ₹11.25 lakh each has been imposed on the two PPI issuers, according to an RBI release.

SAN FRANCISCO: Microsoft Corp. said a new service that will let users play video games from their Xbox consoles on their smartphones will be offered for free.

The service, which will be rolled out starting in October, is one part of the company’s new xCloud game-streaming strategy.

Amazon.com Inc said on Tuesday it would end its U.S. restaurant food delivery service on June 24, giving in to intense competition from GrubHub Inc, DoorDash, Uber Technologies' Uber Eats services.

"A small fraction of Amazon employees are affected by this decision, and many of those affected have already found new roles at Amazon," the company said in a statement. "Employees will be offered personalized support to find a new role within, or outside of, the company."

It is for the first time that in a quarter, since the launch of Reliance Jio in September 2016, the revenues for Bharti Airtel and Vodafone Idea (VIL) have not declined, when compared sequentially.

Thanks to the move by the incumbents to remove the low Arpu (average revenues per user) customers started in November last year, there has been some recovery in the financial performance of the two companies.

BHEL recruitment 2019: The Bharat Heavy Electricals Ltd (BHEL) has invited online applications from experienced engineer professionals for the recruitment of managerial posts. BHEL has released a recruitment notification for numerous positions like Manager, Deputy Manager, Senior Manager, Senior Deputy General Manager and Senior Engineers.

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