New Delhi: The Telecom Regulatory Authority of India (Trai) is likely to move the Supreme Court through a special leave petition, challenging the Madras high court’s status quo order on draft tariff regulations for the broadcast sector that restrained it from issuing any further guidelines.

Following a petition filed by television broadcaster Star India Pvt. Ltd and its subsidiary, Vijay Television Pvt. Ltd, on the grounds that the draft tariff regulations issued by Trai stand in conflict with the Copyright Act, 1957, the Madras high court in December asked the regulator not to pass any guidelines on tariff issues in the broadcast sector.

New Delhi: Market regulator Sebi has prohibited Life Care Infratech and its six directors from selling various movable and immovable properties as part of its efforts to recover nearly Rs5 crore of dues.

After finding that the company and its directors illegally raised funds from the public, the watchdog had last year asked them to refund over Rs4.89 crore to investors, which they have failed to do.

The market made a solid opening today as the benchmark Sensex gained over 103 points taking support from domestic investors, extending its yesterday’s rally on the back of a firm Asian trend.

Moreover, an appreciating rupee brought more cheer.

There have been speculations for long about Mercedes-Benz developing a new E-Class (codename W213) with long wheelbase version for market popular with chauffeur driven cars. At the Auto China 2016 motor show, the German carmaker introduced the E-Class L, a long wheelbase version of the fifth-generation luxury sedan. As per a report by Autocar India, the E-Class L (codename V213) will be introduced in India by March 2017.

State-owned lenders Bank of Baroda and United Bank of India on Thursday reduced their marginal cost of funds-based lending rates (MCLRs). While BoB reduced it by 55-75 basis points across tenures, United Bank cut the rate by up to 90 basis points across tenures.

BoB’s one-year MCLR now stands at 8.35%, 70 bps lower than earlier. The overnight, one-month, three-month and six-month MCLRs have also been revised to 8.10%, 8.15%, 8.20%, 8.30%, respectively.

State-owned Coal India Ltd , the world’s largest coal miner, is expected to raise its production to 660 million tonnes in 2017/18 fiscal year, the coal secretary said on Friday.

The miner is expected to achieve its 2016/17 production target of 575 million tonnes and aims to raise output to 1 billion tonnes by 2020, Susheel Kumar told television news channel CNBC-TV18 in an interview.

MUMBAI: The country's largest lender SBI will take the lead among state-run lenders to launch branch less banking. The latest launch from the lender - SBI Digi Bank will have a financial superstore, a market place and end to end digitisation for all products and services.

SBI will soon rub shoulders with the likes of Europe's M-Bank and Canada's Tangerine Bank as it prepares to launch its own version of Digital only bank in the next 3-6 months.

The Supreme Court on Friday restrained transfer of 2G licences from Malaysia's Maxis which was originally allotted to Aircel to any other telecom company. A bench headed by Chief Justice J S Khehar also proposed to restrain earning of any revenue by using the 2G spectrum licences which were originally granted to Aircel in 2006.

India appears to be much better placed with improved macro-economic fundamentals, as measures to eliminate shadow economy and tax evasion are expected to have positive impact on GDP, the all-powerful FSDC headed by Finance Minister Arun Jaitley said today.

The Council, at its 16th meeting, reviewed the major issues and challenges facing the economy. “World economy is quite fragile, yet India is much better placed today due to improvement in its macro-economic fundamentals,” Jaitley said.

Calcutta, Jan. 4: PSU Coal India is likely to stick to its production target this fiscal in the face of stagnating production and poor offtake.

Union coal and power minister Piyush Goyal said while his ministry was closely monitoring the demand-supply situation, targets are expected to remain firm.

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