Samajwadi Party MLC Udayveer Singh was removed from the party for six years on Saturday after he wrote a letter to Mulayam demanding that Akhilesh Yadav be made the national president.

Citing sources, News18 reported that the letter angered Mulayam, who was also upset with Akhilesh for shielding Udayveer.

The Securities and Exchange Board of India (Sebi) on Friday barred as many as eight “vanishing” companies and 40 directors from accessing the capital market for the next five years for violating listing agreement.

Vanishing companies are those that failed to file statutory returns with the Registrar of Companies and stock exchanges for two years. Besides, the companies and their directors are not traceable.

Mumbai: The rupee on Friday closed at a one-week low against the US dollar after foreign institutional investors (FIIs) continued to sell in local equities and debt markets. This was the second consecutive session when the rupee closed lower. A fall in Asian currencies also dampened sentiment.

The rupee closed at 66.89 per US dollar—a level last seen on 13 October, down 0.12% from its previous close of 66.81. The home currency opened at 66.91 and touched a low of 66.94 a dollar, a level last seen on 13 October. So far this year, it has fallen 1.2%.

Mortgage lender HDFC on Friday said it has raised Rs 500 crore through rupee-denominated bonds from overseas investors.

"The corporation has completed the fourth issue of rupee denominated-bonds to overseas investors of issue size Rs 500 crore," HDFC said in a regulatory filing to stock exchanges.

Mahindra & Mahindra (M&M) on Friday expanded its electric vehicle portfolio with the launch of e20 Plus hatchback priced at Rs 5.46 lakh to Rs 8.46 lakh (ex-showroom Delhi).

The company has marked the entry level P2 variant of the vehicle for fleet owners but hasn't disclosed its price yet.

US tech giant Microsoft has set up a cybersecurity engagement centre (CSEC) in the Delhi-NCR region that will help it work with partners in identifying and responding to cyber threats in the country.

The India centre, which is the seventh such facility for the company globally, will function as a satellite to Microsoft's Redmond Digital Crimes Unit (DCU).

MUMBAI: The benchmark BSE Sensex fell by over 94 points in early session on Friday after sentiment was dampened by Reliance Industries' second quarter earnings numbers, which were announced on Thursday.

The 30-share index, which had gained 145.47 points in the previous session, dropped by 94.24 points, or 0.34 per cent, at 28,035.60, with oil and gas, metal, banking, PSU and capital goods sectors bringing about the fall.

Mumbai: The Reserve Bank of India (RBI) released on Thursday guidelines for penalizing payments systems and banks under the Payments and Settlements Systems Act, 2007.

According to the framework issued by RBI, payments systems and banks can be told to fork out penalties between Rs5 lakh and Rs1 crore. Under the Act, no person can operate a payment system without RBI authorization. Only stock exchanges are exempt from obtaining such authorization.

Bengaluru: E-commerce marketplace Flipkart, which touched the 100-million registered user mark last month, is considering options including opening brick-and-mortar stores in small cities as part of a so-called online-to-offline (o2o) strategy to attract more shoppers.

The initiative, known internally as assisted commerce, is one of several the company is working on, said an executive who requested anonymity. Flipkart is seeking to double its current user base at a time when the broader Indian e-commerce market faces stagnation.

MUMBAI: Infosys said it conducted two investigations after the resignation of its chief financial officer Rajiv Bansal that did not reveal any wrong-doing and clarified why some payments of his pay had been suspended, as the IT company tried to put an end to the speculation surrounding the exit.

Infosys has been the subject of many stories following Bansal’s resignation last October, not the least of which said that Infosys’ founders had interfered to stop what they considered his out-size severance payments.

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