Kotak Mahindra Asset Management Company (AMC) and Axis Asset Management Company (AMC) on Thursday moved the Bombay High Court (HC) against beleaguered financier Dewan Housing Finance Corporation (DHFL). The move comes a week after the Bombay HC passed an ad-interim order restricting DHFL from making payments or disbursements to any secured or unsecured creditor till further orders.

The Telecom Regulatory Authority of India (Trai) is expected to give its views within two weeks over what should be the appropriate ring duration for mobile calls as operators have failed to arrive at a consensus on the thorny issue.

The authority was forced to intervene in the matter after Reliance Jio reduced the ringing time to 20 seconds from 45 seconds, which forced the incumbent operators to complain to Trai and even after several meetings, there was no unanimity on what should be the right duration.

Government think-tank NITI Aayog, along with the Institute of Competitiveness, on Thursday, released the India Innovation Index (III) 2019, the first of its kind. The list, which examines the innovation capabilities and performance of 29 states and seven union territories, lists Karnataka on top, followed by Tamil Nadu and Andhra Pradesh in the second and third positions.

Aided strongly by an one-time gain of Rs 76 crore coupled with a 7% increase in average price realisation (APR), TVS Motor Company has beaten market expectations by posting a 21% growth in its net profit for the quarter ended September 30, 2019 to Rs 255 crore, compared to Rs 211.31 crore in the same quarter last fiscal.

Pakistan Air Force F-16 planes escorted a Kabul-bound SpiceJet Boeing 737 aircraft in September in a case of mistaken identity. The incident took place amid heightened tensions between two neighbours.

Sources said Pakistan Air Force intercepted the SpiceJet plane operating a Delhi-Kabul flight following a mix-up over its identity. The plane was identified as an Indian Air Force aircraft and then escorted by the Pakistani jets till it exited its airspace. “It was an uneventful flight thereafter.

Raising funds for the third time in little over a month, Air India Assets Holding Ltd (AIAHL) on Thursday raised Rs 7,985 crore through bond sale, which was oversubscribed. A special purpose vehicle of Air India, AIAHL has mopped up a total of Rs 21,985 crore by way of bond issues since September 16 and the proceeds would be utilised to repay debt of the national carrier.

With Microsoft posting strong results, the company’s CEO Satya Nadella has got a 66 per cent raise in the 2018-19 fiscal, taking his total yearly earnings to a whopping USD 42.9 million, according to media reports on Thursday. While Nadella, 52, has a base salary of a little over USD 2.3 million, most of his pay came from stock awards, reported CNN Business. He received USD 29.6 million in stock award, USD 10,7 million in non-equity incentive plan compensation and around USD 111,000 in other compensation.

Existence of BSNL is in strategic interest of the nation and the government is looking to resolve issues plaguing it, Union Minister Ravi Shankar Prasad said on Thursday. The law and telecom minister acknowledged that there are problems in the telecom sector, which are being looked upon by the government.

“BSNL is in strategic interest of the nation. Whenever there is flood, cyclones, BSNL is the first one to offer services for free. 75 per cent of their revenues goes into salary of employees while others manage it in 5-10 per cent.

ONGC Videsh (OVL) on Wednesday said it has struck oil in Colombia and gas in Brazil, which will boost its energy reserves in the Latin American countries.

OVL found oil in Colombia’s onshore exploration block CPO-5 in the Llanos basin and natural gas in a deep offshore exploration block — BM-SEAL-4 — in Brazil’s Sergipe Alagoas Basin, the company said in a statement.

Mumbai: Insurance Australia Group (IAG), which holds 26% stake in SBI General Insurance, on Thursday, said it has signed a definitive agreement to sell its entire stake to private equity firms Warburg Pincus and Premji Invest.

While Premji Invest will acquire 16% stake in the general insurer, Warburg Pincus plans to buy the remaining 10%, giving an exit to IAG.

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