Assets worth over Rs 36 crore of a Madhya Pradesh-based company have been attached by the ED in connection with a coal blocks allocation scam case, the agency said on Tuesday.

It said a provisional order for attachment of properties like land, plant, machinery, office and factory buildings of Kamal Sponge and Steel Power Ltd (KSSPL), located in Rajasthan’s Jaipur and Satna in Madhya Pradesh, and its director Pawan Kumar Ahluwalia was issued by it on Monday under the Prevention of Money Laundering Act.

The Bombay high court on Tuesday declined to give any interim relief to Kotak Mahindra Bank in its dispute with the Reserve Bank of India (RBI) over the latter’s direction to pare promoter's holding in the private sector lender.

The court turned down the bank's plea for an interim protection from regulatory action and posted the matter for further hearing to April 1.

The BSE benchmark Sensex rose over 100 points Wednesday led by gains in banking stocks amid continued buying by foreign investors.

The 30-share index was trading 134.95 points, or 0.36 per cent, higher at 37,670.61, while the 50-share NSE Nifty climbed 22.10 points, or 0.20 per cent, to 11,323.30.

Royal Bank of Canada’s Dave McKay is feeling the bite of the FANGs.

The lender’s chief executive officer told investors on Tuesday that he’s increasingly worried about the so-called FANG companies — Facebook Inc., Amazon.com Inc., Netflix Inc. and Google parent Alphabet Inc. — getting into banking. The companies are already inserting themselves between the bank and its customers as people increasingly turn to the technology giants when shopping for financial services, McKay said.

State-owned telecom firm BSNL, which has been in the red for the past more than five years, failed to pay February salaries to its around 1.76 lakh employees due to financial constraints.

This is the first instance of the company defaulting on salary payments underlining the tough times for it ahead.

The Reserve Bank of India (RBI) is warning that its authority could be undermined if courts rule against it in a case involving a major private-sector lender.

Kotak Mahindra Bank’s legal petition against the Reserve Bank of India’s objection to the method used by the founder to pare his stake in the lender, if granted, would weaken its regulatory authority, according to the RBI.

State Bank of India (SBI) on Monday put on sale six non-performing accounts (NPAs) worth Rs 2,338 crore on sale, including its exposures to Indian Steel Corp (Rs 929 crore) and Jai Balaji Industries (Rs 859 crore).

All six assets are being offered on a 100% cash basis, with haircuts ranging between 29% and 76%. The other accounts up for sale are Kohinoor Planet Construction and Gati Infrastructure (Rs 251 crore), Mittal Corp (`116 crore), MCL Global Steel (`100 crore) and Shree Vaishnavi Ispat (Rs 82.52 crore).

Markets watchdog Sebi has levied a penalty of Rs 25 lakh on Indus Portfolio for carrying out reversal of trades in the illiquid stock options segment on the BSE.

Sebi conducted a probe between April 2014 and September 2015 after observing large-scale reversal of trades in the stock options segment on the bourse which led to the creation of artificial volume.

The Election Commission on Monday warned political parties in Kerala not to use the Sabarimala temple matter as a campaign issue.

Kerala Chief Electoral Officer Teeka Ram Meena told the media here that “citing or invoking” religious propaganda on the “Sabarimala issue” would be a clear violation of the model code of conduct.

Three directors of the erstwhile board of Essar Steel on Monday approached the National Company Law Appellate Tribunal (NCLAT) against a lower bankruptcy court order that allowed takeover of the company by ArcelorMittal. Standard Chartered Bank also approached the appellate tribunal against the order.

The three directors of Essar Steel are Prashant Ruia, Dilip Oommen and Rajiv Bhatnagar.

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