Vijay Mallya walked away from United Spirits (USL) with a $75 million cheque but his woes aren’t over. He quit as its chairman on Thursday but will still have to repay dues to it and face various investigations initiated by the Securities and Exchange Board of India, the Union ministry of corporate affairs (MCA) and the stock exchanges. Even the latest deal has come under Sebi’s scanner. A PTI report quoted regulatory sources as saying that the Diageo-Mallya deal faces an extensive scrutiny by the market regulator, which has begun looking into possible violations of corporate governance and other norms.

Zolt Energy, a rooftop solar installation and distribution venture, has raised its seed funding round of funding from 7 angel investors. The raised capital will be used by the startup to spread awareness, reach a wider customer base and strengthen their logistics, monitoring and service offerings.

Launched in early 2014, Zolt Energy has remained in stealth mode until October 2015 while it built the market canvas, understood customer dynamics and refined the product & service offerings. The 10 member team at Zolt is led by the founders Abhishek Dabas and Harsha Yadav.

State-owned Life Insurance Corporation (LIC) has increased its stake in India’s largest power producer NTPC by 3.90 per cent after buying 32.15 crore shares in the open market.

LIC, which had 9.08 per cent stake earlier, hiked its shareholding in the company to 12.98 per cent by buying shares between July 25, 2014, and February 24, 2016, NTPC said in a filing to the BSE.

Mumbai: India should adopt a three-pronged strategy to achieve its long-term potential growth rate of around 8-10% by promoting competition and investing in health and education, while not neglecting agriculture, the Economic Survey 2015-16 tabled in Parliament on Friday said.

“First, India has moved away from being reflexively anti-markets and uncritically pro-state to being pro-entrepreneurship and skeptical about the state,” the survey said.

Reliance Industries has emerged as the top company in terms of corporate social responsibility (CSR), having spend over Rs 760 crore, followed by state-owned ONGC and IT giant Infosys, Parliament was informed today.

In a written reply to Lok Sabha, Corporate Affairs Minister Arun Jaitley said a total of 460 listed firms have so far disclosed spending Rs 6,337.36 crore in 2014-15. This included 51 PSUs that spent Rs 2,386.60 crore.

New Delhi: Opposition parties on Friday sought an apology from human resource development (HRD) minister Smriti Irani for reading out in Rajya Sabha “objectionable” comments made outside against a god, as she defended herself saying she was asked for proof of her statements against JNU students.

BJP members also hit back at the Congress saying the opposition party was raising the issue due to the criticism of its vice president Rahul Gandhi over his visit to JNU.

Mumbai: India’s stock markets posted their first daily gain in four sessions on Friday after a government report on the economy released days before the unveiling of the Union budget for fiscal year 2017 contained a few surprises.

The economic survey from the finance ministry called for fiscal prudence and stable inflation, while acknowledging the risks to growth, although it also called for a review of India’s medium-term fiscal strategy.

The raised capital will be used to expand operations to Gujarat, Odisha, Jharkhand and Bihar.

The company was founded in 2009 by a group of IIM alumni with an aspiration to transform the lives of unemployed youth in semi-urban and rural areas by helping them with skill development training.

The Securities & Exchange Board of India (Sebi) has called a meeting with top officials from the mutual fund industry to discuss issues related to debt funds and specifically credit funds.

In the meeting, scheduled for March 4, the Association of Mutual Funds in India (Amfi) will request the markets regulator to come

NEW DELHI: Huge demand from all categories of investors has forced the National Highway Authority of India (NHAI) to advance the closure of the second tranche of the Rs 3,300 crore tax-free bond issue to Friday, February 26, from the scheduled closure of March 1.

The bond issue continued to attract bids in large volumes from investors across categories. Data available on the BSE website showed the issue had received 18.40 times bids by 11 am on Friday.

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