Sebi on Wednesday imposed fines totalling Rs 25 lakh on five entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In five separate orders, the watchdog levied a fine of Rs 5 lakh each on Natraj Dealtrade, Queen Tie-Up Pvt Ltd, Octagon Merchants, Noble Tradelink and Nirmal Kumar Chopra HUF. [...]
Torrent Power on Wednesday said it has bagged a contract to supply 920 MW gas based electricity from its DGEN and SUGEN plants under a tender of NTPC Vidyut Vyapar Nigal Ltd (NVVN). The ministry of power had designated NVVN as the nodal agency for procurement of up to 4,000 MW power from gas-based plants [...]
In a major step to strengthen cooperatives, the government on Wednesday said existing Primary Agricultural Credit Societies (PACS) having wholesale petrol and diesel dealership licence will be given a one-time option to covert their bulk consumer pumps into retail outlets. The cooperation ministry, in a statement, said PACS will also be given priority in allotment [...]
Reserve Bank of India has approved re-appointment of Sanjay Agarwal as managing director and CEO of AU Small Finance Bank for a period of three years. The re-appointment is valid with effect from April 19 till April 18, 2026, AU Small Finance Bank said in a statement. Besides, it said, the regulator has also cleared [...]
HDFC Ltd on Wednesday said that the market regulator Sebi has cleared a proposal for change in control of HDFC Capital Advisors Limited (HCAL). Sebi vide its letter dated April 10, 2023 to HCAL, a subsidiary of HDFC Limited and a co-investment portfolio manager, has granted its approval for the proposed change in control of [...]
A special Mumbai court, while granting bail to Yes Bank co-promoter Rana Kapoor in a money laundering case, held that the alleged “laundered" amount never came to him” and there was nothing to show he received kickbacks. The Prevention of Money Laundering Act (PMLA) court also noted that even though economics offences are “different in [...]
Reliance Industries Ltd (RIL) has started the process to set up an infrastructure investment trust (InvIT), under which the group can monetise the backend warehousing and logistics assets of its retail business, said industry sources. Reliance Retail, the company which operates the retail business of the billionaire Mukesh Ambani-led Reliance Industries, has already registered a [...]
Four companies, including Larsen & Toubro, have submitted bids for design and construction of civil and building works of 135-km-long alignment between Shilphata and Zaroli under package C-3 of the Mumbai-Ahmedabad high speed rail line, the firm overseeing the bullet train project said on Wednesday. In a statement, National High Speed Railway Corporation Ltd (NHSRCL) [...]
Reliance Jio has slammed Bharti Airtel for filing a complaint with telecom regulator over live TV channels offering with JioFiber, saying the rival company's sole grouse was the reasonable tariffs of JioFiber. Jio dubbed charges made by Airtel as "deliberate malicious attempt to defame" RJIL's consumer-friendly tariffs to protect "narrow interests". Jio in a letter [...]
Brokerage house Zerodha on Wednesday said it has formed a joint venture with Amazon-backed wealth management firm smallcase to build an asset management company. The capital markets regulator Sebi's approval has already been received for setting up the joint venture. "While awaiting the final approval of our AMC (mutual fund), we asked if we should [...]
