Standard Chartered Bank (SCB), which has been allocated only 1.7% of its Rs 3,187 crore of admitted claim from the lenders of the Essar steel under the NCLT-approved resolution plan, on Monday submitted that the committee of creditors (CoC) of a firm undergoing resolution process does not have the authority to decide on the distribution of the receivables from the resolution applicant.

ITC managing director Sanjiv Puri was on Monday appointed the company’s chairman, two days after the death of YC Deveshwar, who earlier held the post. Puri, who has been the MD at the diversified firm since May last year, is now its chairman and managing director.

The announcement was widely expected. Puri, 56, was the chief operating officer (COO) before being promoted as chief executive officer (CEO) in February 2017.

The Securities and Exchange Board of India (Sebi) has sent show-cause notices to Kotak Mut­ual Fund and HDFC Mutual Fund, seeking details about their investments in the debt instruments of Essel Group companies. Essel Group promoters have sought time to repay their lenders.

Both fund houses had exposure to Essel Group companies in their fixed maturity plans (FMPs).

The Moon is steadily shrinking, causing wrinkling on its surface and quakes, according to an analysis of imagery captured by NASA's Lunar Reconnaissance Orbiter (LRO) published Monday.

A survey of more than 12,000 images revealed that lunar basin Mare Frigoris near the Moon's north pole -- one of the many vast basins long assumed to be dead sites from a geological point of view -- has been cracking and shifting.

HYDERABD: HDFC Bank on Monday said three start-ups from the city - Loop Reality, BluSapphire and Appnovation Technology - were declared winners at its regional Digital Innovation Summit (DIS).

According to a press release from HDFC Bank WorkApps, a start up from Pune was the fourth winner picked by the bank after the one-day event held here.

A US court has denied Computer Sciences Corp (CSC)’s application for temporary restraining order against Tata Consultancy Services (TCS) after CSC failed to prove its claims.

CSC, a US-based insurance platform provider to a TCS client, had last month filed for temporary restraining order in US against TCS after accusing them of misappropriating its trade secrets, of the Cyberlife and Vantage software platforms.

Amazon.com Inc is rolling out machines to automate a job held by thousands of its workers: boxing up customer orders.

The company started adding technology to a handful of warehouses in recent years, which scans goods coming down a conveyor belt and envelopes them seconds later in boxes custom-built for each item, two people who worked on the project told Reuters.

Mumbai: Domestic equity benchmarks BSE Sensex and NSE Nifty started on a choppy note Monday tracking weak cues from global markets as rising rift between the US and China kept investors on edge.

The 30-share index was trading 23.96 points, or 0.06 per cent, lower at 37,439.03. The broader NSE Nifty was also trading 7.85 points, or 0.07 per cent, down at 11,271.05.

One of the most famous advertising campaigns in the Indian commercial vehicle (CV) industry is ‘Tata Ka Chota Hathi’, which Tata Motors used as a branding for the Ace light CV (LCV) launched in 2005. The campaign connected well with the product—a reference to its compact size, yet superior strength to carry goods—and the customers. Because of the inherent strengths of the product and because there wasn’t an equally good last-mile transportation LCV in the market, the Ace was a runaway success—the Ace family, comprising of eight models, has sold over 23 lakh units.

Former ICICI Bank CEO Chanda Kochhar Monday appeared before the ED in connection with an alleged bank loan fraud and money laundering case registered against her. Kochhar arrived before the Enforcement Directorate’s office here in Khan Market shortly before her scheduled appearance time of 11 am, official sources said. Sources said Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).

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