The Madras High Court today asked the Korean automajor Hyundai to take part in the Competition Commission of India's ongoing investigation against all the major car makers in country for alleged violation of trade norms in after-services market and spare parts.

Division bench of Justice Satish K Agnihotri and Justice M Venugopal ruling comes in response to a petition filed by Hyundai against a single judge order, which was passed last month.

A Rs 15,000-crore share sale by the country’s biggest lender, State Bank of India (SBI), could be launched as early as this month, said sources. The lender, with market value of Rs 2.17 lakh crore, plans to launch a follow-on public offering (FPO) under the fast-track route, under which the regulatory approvals required to come out with a public issue are less.

The bank has sounded off all the nine bankers managing the share sale to be ready to hit the market “anytime”, said a banker handling the issue, asking not to be named.

The National Highway Authority of India (NHAI) is likely to fall short of its target of road construction for the current fiscal, and what's more the execution rate declined by 17 per cent to 3.41 km per day during the first eight months of FY15 from 4.14 km per day during the same period in the preceding year.

According to a recent analysis by credit rating firm ICRA, the NHAI has awarded 1,572 km of contracts during eight months of FY 15 (April-Nov ember 2014), while it had set itself a target of 5,500 km for FY 15, 35 per cent of which was earmarked for Build-Operate-Transfer (BOT) segment and rest for Engineering Procurement and Construction (EPC) mode.

With bad loans continuing to be a problem, ICICI Bank is reportedly planning to re-start a special vertical to handle such assets.

The country's largest lender State Bank of India already has such a group called Stressed Assets Management Group to handle high NPAs, which came lower during the December quarter.

Come April, all senior-level Infosys employees are in for a bonanza. They will be eligible for a double bonus that could go beyond $100,000.

This long-term bonus, for those with the designation of associate vice-president and above at Infosys, was earlier disbursed once every two years but, since 2014, it’s become an annual payout. This will result in employees becoming eligible for double disbursal as the last one was made in 2013, people familiar with the situation told FE.

BENGALURU: Wipro has been recognized as the world's most ethical company by the Ethisphere Institute for 2015. The world's most ethical companies designation recognizes those organizations that have had a material impact on the way business is conducted by fostering a culture of ethics and transparency at every level of the company.

The Ethisphere Institute has deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character.

NEW DELHI: With e-commerce business growing in India, realty major DLF has tied-up with online market place Snapdeal to sell its apartments and would offer 1 per cent discount to potential home buyers.

DLF will offer on Snapdeal about 50 flats in eight housing projects across the country in a price range of Rs 34 lakh to Rs 3 crore.

Mumbai: ICICI Bank Ltd, India’s largest private-sector lender, will revive a unit to spearhead a drive to recover bad debts, people with knowledge of the matter said.

The Mumbai-based lender will restart the so-called Special Asset Management Group, which it shut a decade ago, by April, the people said. They asked not to be identified as they’re not authorized to discuss the effort.

MUMBAI: A surge in the use of cards in e-commerce and m-commerce has made HDFC Bank expand its card strategy. The Bank will soon launch a payment system for small merchants to accept card payments without swipe machines, besides a new category of virtual credit cards.

HDFC Bank is a market leader in the credit card business, accounting for more than half of the amount outstanding under various credit card accounts.

The government has shortlisted Larsen & Toubro (L&T) and Pipavav Defence & Offshore Engineering Company, in which the Anil Ambani group firm Reliance Infrastructure has recently acquired management control, for award of a Rs 60,000-crore contract to build six conventional submarines under its Project 75i.

According to highly-placed sources, a high-level committee headed by vice-admiral Subhedar, which had inspected both public and private shipyards to shortlist candidates to issue the request for qualification (RFQ) for Project 75i, in its final presentation to the ministry of defence (MoD) last week, selected the two private sector shipyards — L&T’s Katupalli yard and Pipavav unit.

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