Supplier says Flipkart not 'economically viable', NCLT initiates insolvency

New Delhi (IANS) The National Company Law Tribunal (NCLT) has initiated insolvency proceedings against Walmart owned e-commerce company, Flipkart for defaulting on Rs 18 crore payment to one of its suppliers.

The Bengaluru bench of NCLT has…

Centre to take call on onion imports as prices surge

New Delhi (IANS) With supplies running short and onion prices at Rs 80 a kg, the Consumer Affairs Ministry said on Tuesday that the government will act as a facilitator for onion imports to ease the process and ensure a quick and healthy supply from…

Sensex opens over 100 points higher, Yes Bank jumps 5%

Mumbai (IANS) Sensex and Nifty opened higher on Tuesday over firm global cues and slightly better than expected earning results so far.

Meanwhile, Yes Bank shares jumped nearly 5 per cent after marquee investor Rakesh Jhunjhunwala picked up…

India decides against joining RCEP mega trade deal

Bangkok (IANS) India on Monday decided against joining the 16-nation Regional Comprehensive Economic Partnership (RCEP) mega trade agreement, saying the present form of the deal "does not address satisfactorily India's outstanding issues and concerns".

Ashok Leyland to enter Russian market

Chennai (IANS) Commercial vehicle major Ashok Leyland Ltd will enter the Russian market with a local partner in a year's time, said a top company official.

He also said the company plans to enter the top 10 global commercial vehicle manufacturer's…

Sensex hits life-time high, crosses 40,400

Mumbai (IANS) The Indian equity markets opened on a firm note on Monday as the benchmark Sensex touched a fresh all time high of 40,434.83 during the early trade.

Sensex jumped nearly 250 point, gaining for the seventh straight session over…

DoT can initiate action against Airtel promoters

New Delhi (IANS) In a major disclosure, as per the assumption of all liabilities by Airtel under the Scheme of Arrangement with Tata Teleservices, the flow of recovery process available to the Department of Telecommunications (DoT) includes initiating…

Yes Bank's asset-quality woes to continue: Report

Mumbai (IANS) Emkay Global Financial Services has said in a recent report that Yes Bank's asset-quality woes may continue.

After Yes Bank reported a weak set of results last week, the report said that the company needed "regular capital…

Telco bailout will be contempt of SC, illegal trigger to widespread precedent: Jio to Prasad

New Delhi (IANS) Reliance Jio has written to Telecom Minister Ravi Shankar Prasad stating in unequivocal terms that the proposed telcos bailout would be contempt of the Supreme Court judgment and an illegal trigger to widespread precedent.

In…

IOC close to plastics-to-oil tech breakthrough

New Delhi (IANS) Indian Oil Corporation, the country's largest PSU refiner and retailer, is about to complete a research that could throw up one of the biggest breakthroughs and help the government eliminate all single-use plastics from the country…