India News

Sebi asks suspected shell companies to cooperate in forensic audits

Sebi has asked over a dozen suspected shell companies to extend cooperation to ensure completion of forensic audits in a time-bound manner, failing which they would face stringent trading curbs. The forensic audit is being conducted by independent auditors appointed by stock exchange on the direction of the markets watchdog. Independent directors have been mandated to conduct forensic audits for verification of credentials or fundamentals of such companies.

Airtel, Vodafone, Idea seemingly discontinue talk-time recharge packs: Here’s how it will affect you

Airtel, Vodafone, and Idea Cellular have seemingly stopped offering the top-up recharge of lower denominations. Due to the increasing demand for the low-cost tariff recharge tiers that combine voice, data, and SMS into a single plan, both the companies could apparently do away with the talk time plans.

ITC looks to enhance portfolio, to enter paneer, milkshakes biz in 2 months

Diversified conglomerate ITC Limited has decided to enhance its dairy portfolio by entering the paneer and milkshakes segments within two months, a company official said Tuesday.

ITC had earlier forayed into the dairy segment with the launch of milk and ghee in select markets.

BCPL to shut crude unit at Kochi refinery for about 3 weeks from Dec 1

India's state-run Bharat Petroleum Corp will shut a 120,000 barrels per day (bpd) crude unit and some secondary units at its Kochi refinery for about three weeks from early December for maintenance, its head of refineries said.

"It (this shutdown) is mandatory to inspect the new plant after you run it for a year. We will open up some of the critical equipment to see if things are intact," R. Ramachandran told Reuters on Tuesday.

Sensex, Nifty turn choppy on weak global cues, FPI selloff

Mumbai: Benchmark indices opened on a volatile note Tuesday following weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

The BSE Sensex was trading 31.63 points, or 0.09 per cent, lower at 34,035.77. It had dropped 130.16 points on opening trade. The 30-share index had rallied 718.09 points, or 2.15 per cent, to 34,067.40 in Monday's session.

CBI submits papers related to Quereshi, IRCTC scam to CVC

New Delhi: The CBI has handed over all relevant documents pertaining to meat exporter Moin Quereshi case and IRCTC scam to the Central Vigilance Commission (CVC).

The CVC is conducting inquiry into the allegations against CBI director (on leave) Alok Verma.

Essar Steel: Ruias may go to court on offer by ArcelorMittal

The Ruias, who have offered to pay Rs 54,389 crore to clear their dues to the lenders of Essar Steel, are likely to challenge the resolution plan submitted by ArcelorMittal, persons close to the Ruias confirmed to FE. They said an intervention petition may be filed with the National Company Law Tribunal (NCLT).

Late last week, the committee of creditors (CoC) accepted an offer by ArcelorMittal which was subsequently submitted by the resolution professional for Essar Steel to NCLT for approval.