Sebi on Friday streamlined regulatory framework for 'scheme of arrangement' such as merger and acquisitions by listed firms to check any possible 'bypassing' of norms and prevent companies from seeking direct approval of National Company Law Tribunal (NCLT) for such deals.

The decision has been taken in consultation with the stock exchanges and market participants.

What could be said as its biggest discovery after a gap of three years in Assam, Oil and Natural Gas Corporation (ONGC) has made reserve accretion of 10 million metric tonnes (MMT) of oil in the state.

The area of the discovery falls in Jorhat district and two wells, one each at Sufayam and Dayalpur, have already been drilled to exploit this 10 MMT reserve.

India may need to reassess the amount of bailout funds given to Air India because the state-run carrier has breached loan limits set under a government restructuring plan, causing its finances to be squeezed, the Comptroller and Auditor General of India (CAG) said in a report on Friday.

Heavily-indebted Air India, which was bailed out in 2012 with $5.8 billion of government funding, saw its short-term loans rising to four times the limits laid down in its turnaround plan, the CAG said.

Tata Motors on Friday announced the signing of a Memorandum of Understanding (MoU) for a long-term partnership with Volkswagen Group and Skoda, to "explore strategic alliance opportunity for joint development of products". The agreement -- signed by Guenter Butschek, CEO & MD of Tata Motors, Matthias Mueller, CEO of Volkswagen AG and Bernhard Maier, CEO of Skoda Auto -- lays down the "modalities and terms of a long-term cooperation in identified areas of partnership," said a company statement.

New Delhi: In a win for Britannia Industries Ltd, the Delhi high court on Friday set aside an injunction order against it, allowing the company to manufacture and sell its digestive biscuit NutriChoice Zero.

ITC Ltd and Britannia were involved in a brand war case in which the former claimed that Britannia’s NutriChoice Zero digestive biscuit brand had copied the packaging of its Sunfeast Farmlite Digestive All Good biscuit.

Reliance Communications has jumped into the telecom war with new offers on the festival of Holi. In the new ‘joy of Holi’ offer, Reliance has taken on the competitive 4G data pricing from Reliance Jio, Vodafone, Airtel and Idea. In the tariff war between Reliance Jio Prime, Airtel, Vodafone and Idea, users have found themselves in a fix among the complicated plans on offer, and now Reliance Communications too, has jumped into the fray.

While telecom companies are renewing the battle lines in the war against call harassment by ensuring safety for female customers for retail recharge transactions, Idea is ready with an all India roll out of its ‘private recharge’ service. Private recharge allows telco customers to recharge their prepaid connection at retailer without sharing their number. In an age of continually evolving technology privacy is highly important, and especially with so many new offers after Reliance Jio came to the bangwagon, it is crucial that security is also an area which must be looked after.

NEW DELHI: After nearly five years of trial, a Gurgaon court in Haryana today convicted 31 people and acquitted 117 other in the deadly 2012 Maruti Suzuki factory violence case, in which a manager was set on fire by a mob.

The quantum of punishment will be announced later today.

NEW DELHI: When Sudipta, an IT engineer working for Wipro in Houston, Texas, returned home after a weekend outing, he found his home ransacked and items broken. The incident led to Wipro issuing an advisory, similar to the ones the US issues to its travellers who visit sensitive countries, according to a report in BusinessLine. The email states that the advisory is to sensitise (Wipro’s) onsite employees to be watchful of the situation, says the report.

Riding on exit polls that predict the BJP emerging as the single largest party in UP and coming to power in Uttarakhand, the BSE Sensex climbed over 146 points in opening trade on Friday on heavy fund inflows.

Moreover, industrial production (IIP) data for January, scheduled to be released after market hours on Friday, also influenced sentiments. All the sectoral indices led by consumer durables, IT, metal, realty, bank, capital goods and auto sectors were trading in the positive zone with gains of up to 0.73%.

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