Mumbai: State-run Oil and Natural Gas Corp. Ltd (ONGC) may take legal action if the Directorate General of Hydrocarbons’ (DGH) plan to sell 60% stake in the company’s hydrocarbon fields is taken forward, two company officials said.

Upstream regulator DGH plans to sell a 60% stake in 15 hydrocarbon blocks—11 of ONGC and four of Oil India Ltd—as part of a plan to increase output, a 6 November Times of India report said. Such a sale, if the proposal goes through, would mean that operational control will go to private firms.

The district administration of Shahjahanpur, Uttar Pradesh, has slapped a fine on Nestle India and its distributors after its popular noodles brand Maggi allegedly failed to pass the lab test, even as the FMCG major maintained that it is a case of application of incorrect standards.

The district administration had imposed a fine of Rs 45 lakh on Nestle, Rs 15 lakh on its three distributors and Rs 11 lakh on its two sellers.

A woman passenger and an Air India duty manager slapped each other at the Indira Gandhi International Airport on Tuesday morning after she was denied boarding for reporting late, police said.

The incident took place after the Ahmedabad-bound woman passenger had an argument with the official.

Markets regulator Sebi has ordered a forensic audit of Svam Software, which figures among 331 suspected shell companies, after finding prima facie evidence of misrepresentation of financials by the firm.

While calling for the forensic audit, the Securities and Exchange Board of India (Sebi) has lifted the trading restrictions imposed on the firm.

India's largest realty firm DLF has called a board meeting on December 1 to approve its proposals to issue equity shares to institutional investors and warrants or debentures to promoters.

DLF is required to launch QIP (qualified institutional placement) and also issue of warrants or debentures because of proposed infusion of about Rs 10,500 crore by promoters into the company.

State-owned Coal India is considering hiking salary of its executives, which may cost the company about Rs 800 crore.

“The salary revision of CIL employees is under consideration and it will be done after observing due formalities,” a company official privy to the development said.

After repeated successful satellite launches over the past five decades, the Indian Space Research Organisation has now set its sights on the next mission: to tap the growing international demand for products and services for outer space.

The Indian space agency wants to build on its growing reputation for low-cost yet effective satellite launching capabilities to become a key player in the global space arena. “Globally, the demand for small rockets is growing and we want to capture this market by offering cost effective solutions,” says K Sivan, director, Vikram Sarabhai Space Centre, Isro.

India might soon be involved in shaping global shipping and trade movement rules as it hopes its membership in the International Maritime Organization (IMO) would be upgraded to Category-A.

Government officials said India, a Category-B member, was hopeful of breaking into the top category due to the numerous initiatives taken by the Ministry of Shipping for the promotion of maritime industry, such as the Sagarmala programme and plans for coastal economic zones.

All have welcomed the Telecom Regulatory Authority of India’s (Trai’s) recommendations on net neutrality but internet activists are not over the moon with this development. They claim it’s not hard to see this as a lost opportunity for the regulator to bring down transit costs for operators that would have translated into lower data costs for consumers.

Pranesh Prakash, policy director, Centre of Internet and Society, said when dealing with other forms of equality, there is a clear distinction between affirmative action and discrimination.

Reliance Communications has got into a "binding share purchase agreement" with Pantel Technologies and Veecon Media & Television for sale of its DTH arm Reliance BIG TV for an undisclosed amount.

The move is aimed at reducing debt and benefiting all stakeholders, including lenders and shareholders, of RCom, the company said in a statement.

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