Mumbai: The Securities and Exchange Board of India (Sebi) is drafting rules to monitor share transfer agents and registrars and improve their functioning, two people with direct knowledge of the matter said.

This comes a year after Sharepro Services (India) Pvt. Ltd, a share transfer agent, was found to have defrauded at least 10 companies including Britannia Industries Ltd, Asian Paints Ltd, Aptech Ltd, Tata Communications Ltd and Kansai Nerolac Ltd of Rs21.7 crore. Some of the companies also filed police petitions against Sharepro, and Sebi imposed an interim ban on the company.

New Delhi: Low-fare international carrier Air India Express on Monday said it has cleared a key global safety audit that will help it strike commercial agreements with international airlines.

The International Air Transport Association’s operational safety audit (IOSA) certification is valid for two years. IOSA standards are specified for systems, policies, processes and equipment, among others. International airlines mandate IOSA certification for any collaboration.

Engineering major Larsen & Toubro today said it has bagged a contract worth Rs 2,903 crore from MHADA to re-develop Mumbai’s century-old BDD chawls. “The Buildings and Factories Business of L&T Construction has bagged a major design and build order worth Rs 2,903 crore to re-develop Mumbai’s century-old BDD chawls for Maharashtra Housing and Area Development Authority (MHADA),” the company said in a regulatory filing.

The scope of work comprises design and construction of 20 residential towers for rehabilitation, four high-rise towers for sale and one commercial development within a plot of 16 acres.

The government’s plan to use Aadhaar for more than just disbursing subsidies got a push when, while refusing to urgently hear a plea against Aadhaar, SC said nothing prohibited the government using Aadhaar for non-welfare schemes like PAN cards, opening of bank accounts, filing of income tax returns, etc. When finance minister Arun Jaitley announced the mandatory seeding of PAN numbers with Aadhaar — to check the widespread fraud in PAN cards — as part of the Finance Bill, many protested against this, arguing it was not permissible.

KOLKATA: Coal India may once again appeal to the Competition Appellate Tribunal (COMPAT) against the `591-crore penalty imposed by the Competition Commission of India (CCI) on it last week.

“Coal India will take up the case at the appropriate forum,” a senior Coal India executive said. “We have the option of going back to COMPAT or moving Supreme Court.”

Bharat Heavy Electricals Limited (BHEL) has commissioned 250 MW unit based on eco-friendly circulating fluidised bed combustion (CFBC) technology, using low grade coal (lignite) as the primary fuel.

The 250 MW lignite based thermal unit is the second unit to be commissioned at Bhavnagar Energy Company Limited (BECL)'s 2x250 MW thermal power project, located at Padva village in Bhavnagar District of Gujarat. The first unit of the project was commissioned earlier in May 2016. The project is based on CFBC technology – an environment friendly technology to utilise India's large resource of low grade, high moisture lignite.

Shares of Axis Bank rose nearly 3% after the private sector bank informed the bourses that it has raised senior notes in the international market.

Reacting to the development, the stock gained as much as 2.6% to Rs 450 on the BSE, and was the leading Sensex gainer.

Indian Oil Corp has agreed to supply refined products to Nepal for the next five years to meet all the fuel needs of the landlocked Himalayan nation, officials said on Monday.

India has supplied all Nepal's fuel needs since 1974 and is keen to maintain close trading ties with its neighbour in South Asia, an area where regional rival China has sought to expand its influence.

Apollo Hospitals Group, India's one of the largest healthcare enterprises, is creating a trust as part of its plan to form a family constitution to ensure smooth succession of the management at a time when the promoter family is becoming larger.

A preamble of the constitution was signed by all the family members earlier this year, said a senior member of the family.

Engineering conglomerate Larsen & Toubro today said its construction arm has won orders worth Rs 2,490 crore. “The Building & Factories Business segment of the construction arm of L&T has won orders worth Rs 2,490 crore,” the company said in a statement. “A mega order has been bagged from a premier government organisation for the construction of hospital building, a medical institute, a nursing college, a school for paramedics, an auditorium, hostels, residential quarters along with associated works, in New Delhi,” it added.

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