Markets regulator Sebi has ordered attachment of bank and demat accounts as well as mutual fund folios of Green India Infra Projects and its seven directors to recover dues of over Rs 5 crore. In October 2016, Sebi had directed the firm and its seven directors to refund the money which the company had collected by issuing secured optionally convertible debentures to the investors without complying with public issue norms.

As per the regulator’s attachment order dated November 10, Rs 5 crore was collected through the issuance of secured optionally convertible debentures to the allottees and the amount was to be refunded with an annual interest of 15 per cent.

KOLKATA: Coal India is talking to the railways to increase rake loading from an average of 216 so far since April to 250 by the end of the fiscal year, as it seeks to meet increased demand with both power and non-power sectors facing a short-supply of the dry fuel.

At present, the state-run monopoly has been focusing on supplying coal to the power sector, which is struggling with dwindling stocks and falling generation at many plants.

NEW DELHI: Reliance Industries (RIL) has prima-facie not complied with one clause of the government’s coal bed methane (CBM) marketing policy because it sold the gas it produced to its own unit after participating in auctions, the oil ministry has found in its preliminary assessment.

RIL said it has abided by CBM pricing policy’s stated objective of discovering the best possible price that maximises state revenue and royalty, which was achieved by its participation in the transparent auctions conducted by CRISIL Officials say the policy allows sale of CBM to an affiliate only if another buyer is not found but RIL said it acted in line with the policy and has regularly informed the government about its actions.

Key benchmark indices in stock markets traded under pressure taking cues from subdued trading activity in global stocks.

The market topped the key 33000-level multiple times only to make a close below it. The BSE Sensex fell 91.69 points, or 0.28%, to close at 32941.87.

L&T Infotech (LTI) said it would acquire Luxembourg based Syncordis S.A., a leading core banking implementation services provider for 15 million euros.

LTI would acquire the firm along with its subsidiaries in France, UK, Luxembourg and India.

An international arbitration tribunal in February next year will begin trial on Vodafone's challenge to India using a retrospective legislation to seek Rs 22,100 crore in taxes, the British firm said on Tuesday.

The tribunal headed by Sir Franklin Berman was constituted in June 2016 after Vodafone challenged India using a 2012 legislation that gave it powers to retrospectively tax deals like Vodafone's $11-billion acquisition of 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa in 2007.

The 'Cancer Cover' policy, which can be taken by those in the age group of 20 to 65, was a non-linked plan with yearly and half-yearly premium paying options, a company release said.

Fixed benefits would be paid in case the Life Assured was diagnosed with any specified early and/or major stage cancer during the policy term subject to terms and conditions.

Reliance Industries Ltd said on Tuesday that the company has issued the fifth tranche of privately placed debentures worth Rs 2,500 crore after the company proposed the same on Thursday last week. The issue size of Rs 2,500 crore contains

25,000 unsecured redeemable non-convertible debentures of face value Rs 10,00,000 each. The PPD — Series E shall be redeemed at par at the end of third year and 1 month from the date of allotment i.e. 14 December 2020.

Amid the ongoing earnings season, top market voices point out that Nifty companies have reported better than expected earnings in the quarter ended September-17. In an interview to CNBC TV18, Sanjeev Prasad, Co-Head and Managing Director, Kotak Institutional Equities said, “It’s been a good quarter, companies have reported better than expected earnings. There’s been weakness in OMCs like HPCL and IOCL. But if you keep those names aside, companies have reported decent numbers compared to expectations. In Nifty 50, the companies which have reported earnings, EBITDA margins are ahead of our estimates.

State-run Bank of Baroda Ltd reported a 36 per cent fall in second-quarter net profit on Tuesday, hurt by higher provisions for bad loans.

Net profit dropped to Rs 355 crore ($54.26 million) for the quarter ended Sept. 30, from Rs 552 crore a year earlier, India's fifth-largest bank by assets said.

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