The ministry of petroleum and natural gas has sought legal opinion on an arbitration ruling that went in favour of Mukesh Ambani’s Reliance Industries (RIL) in the gas migration dispute.

The government is likely to appeal against the 198-page final award in the Delhi High Court within the next 90 days.

Signalling a quantum leap in mobile technology, the Telecom Regulatory Authority of India (Trai) on Wednesday gave its recommendations for the auction of eight bands, including the fifth generation (5G) ultra high speed telephony. 5G auction, a first for India, is expected to be a catalyst for internet of things (IoT) innovations that would speed up machine learning and artificial intelligence. Airwaves worth around Rs 5.06 trillion will be on offer for telecom operators in the next round of auction.

Life Insurance Company (LIC)’s acquisition of 51 per cent stake in IDBI Bank will be a “win-win” situation for both the government-owned entities, Finance Minister Piyush Goyal said on Wednesday.

This comes after the Union Cabinet gave nod to bring down its majority stake in the bank. “The move will make IDBI Bank strong, improve its capital adequacy and bring it out of prompt corrective action (PCA).

Market regulator Securities and Exchange Board of India (Sebi) has won a case against the PACL group in an Australian court.

According to sources, the regulator had appealed in Federal Court of Australia to recover dues worth Rs 4 billion stashed away by the PACL Group using several shell entities. The victory assumes significance since it forms a precedent for Sebi in approaching foreign courts to recover money of the collective investment schemes (CIS) frauds stashed overseas.

The country's largest car maker Maruti Suzuki India on Wednesday reported a marginal decline in sales at 1,64,369 units in July.

The company had sold 1,65,346 units in July last year, Maruti Suzuki India (MSI) said in a statement.

Ashok Leyland total sales up 27 per cent at 15,199 Units in July 2018 from 11,981 units, a year ago.

The M&HCV sales up 22 per cent to 10,996 Units from 9,026 Units, while Light Commercial Vehicle Sales rose by 42 per cent to 4,203 units from 2,955 units.

New Delhi: Bajaj Auto on Wednesday reported 30 per cent increase in sales at 4,00,343 units in July.

The company had sold 3,07,727 units in the year-ago month, Bajaj Auto said in a statement. Domestic sales were at 2,37,511 units as against 1,86,497 units, up 27 per cent, it added.

Benchmark Sensex slipped from life highs to fall over 100 points to 37,381.05 today as markets took a breather after six consecutive record-setting sessions.

Weak trend in other Asian markets, muted earnings and fresh foreign capital outflows weighed on investor sentiment here.

Days after TRAI chief's Aadhaar dare created a flutter, the Unique Identification Authority of India (UIDAI) today asked people not to share publicly their 12-digit identifier on Internet and social media, or pose such challenges to others.

"Such activities are uncalled for and should be refrained as these are not in accordance with the law," UIDAI said in a statement.

The government has detected GST evasion worth Rs 3,026 crore in the last one year in relation to misuse of input tax credit and non-payment of taxes, the Rajya Sabha was informed on Tuesday.

In a written reply, Minister of State for Finance Shiv Pratap Shukla said between July 2017 and June 2018, a total of 1,205 cases of tax evasion were detected involving Rs 3,026.55 crore.

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