Mumbai: India's market regulator, the Securities and Exchange Board of India (Sebi), has decided to retain the power to take a final call on the definition of 'control' in mergers and acquisitions after the government advised it not to change the current regulation.

In 2016, Sebi had proposed to adopt the so-called bright-line tests for acquiring control under the takeover code. The regulator had proposed to provide a list of illustrative rights below the control definition which would state that following rights either individually or collectively won't tantamount to control.

The Haryana Police on Saturday found illegal explosives factory inside the premises of Dera Sacha Sauda, as the sanitisation operation continued on the second day in Sirsa.

"Illegal explosives factory inside Dera Sacha Sauda premises is sealed. Explosives and fire cracker have been seized," said Haryana's Information and Public Relations Department Deputy Director, Satish Mehra.

State Bank chairman Arundhati Bhattacharya on Friday urged small and medium enterprises (SMEs) to focus on raising funds through equity instead of debt to drive their businesses in a healthier manner.

She said SMEs' relying more on debt for their growth capital in the initial stage of their business put pressure on their balance sheets.

Finnish communications company Nokia and Chinese telecom gear maker ZTE has bagged the Rs 6,000-crore network expansion project of state-owned Bharat Sanchar Nigam Ltd (BSNL).

"We have issued the advance purchase order to Nokia and in the next 10 days it will be issued to ZTE, " said BSNL chairman and managing director Anupam Shrivastava.

The Army has finalised a plan to induct women in the military police, a senior officer said on Friday.

The plan -- being seen as a major step towards breaking gender barriers in the force -- is to induct approximately 800 women in military police with a yearly intake of 52 personnel per year, Adjuntant General of the Army Lt. Gen. Ashwani Kumar told reporters. In an interview to PTI in June, Army Chief Gen. Bipin Rawat had said the Army was looking at inducting women jawans and the process would start with the induction of women into military police corps.

The gold prices on Friday rose by Rs 990 to Rs 31,350 per 10 grams over global cues. This has been the highest price in 11 months.

The increase in sales by local jewellers also boosted the gold price. The yellow metal had lost Rs 240 in last two days. At international front, gold hit the highest in over a year after the US jobs data got release, which was much weaker than expected. The escalating tension between North Korea and US also catered to high price as investors ran towards safe haven assets.

American e-commerce company Amazon on Thursday opened its largest fulfilment centre (FC) in the country at the GMR-led Rajiv Gandhi International Airport in Hyderabad, even as the country prepares for the upcoming festive season.

The new facility has a carpet area of around 4 lakh square feet, along with a storage space of close to 2.1 million cubic feet. This is Amazon's fifth fulfilment centre in Telangana, thereby increasing the firm's overall storage capacity to 3.3 million square feet in the state. The retail major plans to facilitate faster deliveries in the region.

Mumbai: The rupee on Friday was trading higher against the US dollar, tracking gains in the Asian currencies markets.

At 2pm, the rupee was trading at 63.94 a dollar, up 0.15% from its Thursday’s close of 64.05. The rupee opened at 63.84 a dollar and touched a high of 63.80, a level last seen on 9 August.

Mumbai: The Securities and Exchange Board of India (Sebi) has directed angel investor networks and start-up funding platforms to warn every company and investor through a disclaimer that crowdfunding platforms are neither stock exchanges nor authorized by the capital markets regulator to solicit investments. The disclaimer must also state that the securities traded on these platforms are not traded on any regulated exchange.

The directive, in a July-end letter, comes against the backdrop of an increase in crowdfunding activity in the start-up space and the absence of any law to govern it.

The inter-ministerial group (IMG) that is to decide on the contours of Air India’s divestment is evaluating all options and is still in the process of receiving suggestions, Union civil aviation minister Ashok Gajapathi Raju told FE in an interview. “Let’s not go into any kind of speculation at this moment. The group of ministers has just met twice and is still in the process of inviting suggestions. As part of the group we are looking into all the possible options to make Air India a vibrant airline,” the minister explained.

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