The Supreme Court on Thursday asked Sahara group chief Subrata Roy to be personally present before it on February 28 to explain why he had failed to pay his entire dues worth Rs25,781 crore excluding interest, despite being given “several opportunities and indulgence.”

As on date, Sahara has deposited around Rs20,000 crore in the Sebi-Sahara account, which includes principal Rs15,160 crore and Rs4,800 crore interest and is liable to pay a further Rs10,621 crore, according to Sebi.

The Insurance Regulatory and Development Authority of India (Irdai) has asked insurers to make provisions for their exposure to the beleaguered IL&FS group because the write-off option is not there.

They have to make provisions because those exposures cannot be written off, Irdai Chairman Shubash Chandra Khuntia said on the sidelines of the release of the handbook on general insurance on Thursday.

Amazon.com Inc on Thursday forecast first-quarter sales below Wall Street estimates as new regulations in India created uncertainty around one of its key growth markets, even as the online retailer reported record holiday sales and profit.

Shares of the company fell more than 5 per cent to $1,623.90 after the bell, sliding as company officials discussed expenses on a conference call with analysts.

Yes Bank on Thursday appointed Ajai Kumar as interim MD & CEO with effect from February 1 this year. He has been appointed till Ravneet Gill joins office, Yes Bank said in a regulatory filing. Rana Kapoor will demit office as MD & CEO of YES BANK on January 31, 2019 upon completion of his term, the private lender said in an exchange filing.

Insurance Regulatory and Development Authority (IRDAI) has asked the insurance companies to make provision for their exposure to the beleaguered IL&FS group.

They have to make provisions for it as those exposures cannot be written off, IRDAI chairman Shubash Chandra Khuntia said on the sidelines of the release of the handbook on general insurance claim insights for policyholders by the Insurance brokers association.

With a big shortfall in indirect tax revenue — the collections in April-November were hardly 2% higher than the year-ago period versus FY19 growth estimate of 22% — the Centre has asked a clutch of central PSUs to speed up their planned share buybacks, a mechanism via which it wants to net upwards of Rs 12,000 crore this fiscal.

Bajaj Auto on Wednesday reported a 16% year-on-year increase in its standalone net profit at Rs1,101.9 crore during the October-December period, which was above analysts’ expectations. Revenues during the period also grew 16% at Rs7,409.4 crore, which was slightly below estimates.

Operating profit declined 2% at Rs1,223 crore, which was below estimates, while margin came in at 17.2% against 20.6% in the same quarter a year ago.

Essel Infraprojects is in the final stages of discussions to sell its solar energy portfolio to private equity investor Actis, according to sources. The sale of the portfolio, totaling 685 mw of installed and under-construction projects, could fetch the company about Rs 4,500-5,000 crore, sources told FE.

Essel Infra has also been in talks for the last few months with various investors to sell its roads portfolio comprising 14 projects, including those under construction.

State-owned NTPC’s net profit inched up by 1% year-on-year (y-o-y) to Rs 2,385.4 crore in the three months ended December 2018 as country’s largest power generator showed signs of recovering from chronic coal supply woes plaguing the company since the beginning of 2017.

The company’s revenue increased 16% y-o-y to Rs 24,120.4 crore in the quarter as the average tariff at which NTPC sells electricity went up by more than 8% to Rs 3.47/unit. The power company generated 70 billion units of electricity in the period, 3.4% higher than the corresponding period last fiscal.

Apple says Facebook can no longer distribute an app that paid users, including teenagers, to extensively track their phone and web use. In doing so, Apple closed off Facebook’s efforts to sidestep Apple’s app store and its tighter rules on privacy. The tech blog TechCrunch reported late Tuesday that Facebook paid people about USD 20 a month to install and use the Facebook Research app.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.