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More than 15 Russian banks are in advanced talks with Indian lenders to facilitate bilateral business in their respective local currencies, bypassing the established trade mechanism tied to the US dollar, and are working on building a bespoke reference exchange-rate framework between the rupee and the rouble, people familiar with the matter told ET.
Reliance Industries has filed a contempt plea against the Securities and Exchange Board of India (Sebi) before the Supreme Court, alleging ‘wilful disobedience’ pertaining to an order of the apex court that had directed the capital market regulator to give the country’s most-valued company access to certain documents in a two-decade-old stock allotment case.
Companies making incomplete or false disclosures to the Competition Commission of India (CCI) will face aggravated penalties, chairperson Ashok Kumar Gupta told ET.Provisions in the Competition (Amendment) Bill, 2022, for faster approval of mergers and acquisitions (M&As) will work on a trust-based system, he said.
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