InterGlobe Aviation co-founder Rahul Bhatia (Photo: Pradeep Gaur/Mint)
 (Bloomberg file)
Deloitte Haskins & Sells and a KPMG affiliate are fighting a legal battle with the Ministry of Corporate Affairs (Bloomberg file)
Deloitte Haskins & Sells and a KPMG affiliate are fighting a legal battle with the Ministry of Corporate Affairs (Bloomberg file)

Government wants antitrust review of Big Four accountants

  • The CCI needs to conduct a survey or an investigation to assess whether PwC, EY, Deloitte and KPMG are abusing their dominant position in the Indian audit market
  • The Big Four do auditing work for almost 60% of the top 500 companies that trade on the NSE

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One needs to submit composite claims form along with bank details and IFSC code for PF account transfer. (Photo: iStock)
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Munish Varma, managing partner at SoftBank Vision Fund.
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Sourirajan with his wife, Subasree and daughter, Gayathri Ganesh at their Chennai residence. He was able to move to his house only after a long court battle with his tenant. (Sai Sen/Mint)
Sourirajan with his wife, Subasree and daughter, Gayathri Ganesh at their Chennai residence. He was able to move to his house only after a long court battle with his tenant. (Sai Sen/Mint)

Draft Act has little room for owner-tenant fights

  • Draft Model Tenancy Act tries to balance the rights and interests of owners, tenants
  • The draft Act proposes to cap security deposit to a maximum of two months’ of rent for residential houses

In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available. (Photo: Pradeep Gaur/Mint)
In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available. (Photo: Pradeep Gaur/Mint)

Lack of 5G spectrum for commercial use may push up auction prices

  • Of 300MHz, Isro and defence department have sought 100 and 25MHz, respectively
  • In India, the only band identified for 5G spectrum is under the 3.3-3.6GHz band, which has 300MHz of airwaves available

 (Instagram@Nickjonas)
(Instagram@Nickjonas)

Opinion | The fuss over FaceApp could be just another US-Russia face-off

Russia’s FaceApp was the most downloaded app in America last week, causing alarm ahead of next year’s presidential poll

Rakesh Gangwal. (HT )
 (PTI file)
With a sex ratio of 833, Haryana continues to carry the ignominy of being the most unfair to the girl child among the surveyed states.. Photo: HT
 (Photo: Mint)
Vijay Mallya. (AP )
Vijay Mallya. (AP )

Indian banks win UK court order to seek details of Mallya's asset ownership

  • In the latest application this week, they are seeking full disclosure of the complex ownership structure of many of the assets they believe ultimately belong to Mallya
  • Among the assets in question include the Force India and Indian Empress superyacht – which was fitted with an Elton John piano

Even the legendary Warren Buffett has underperformed the S&P 500 in the most recent decade (Reuters file)
Even the legendary Warren Buffett has underperformed the S&P 500 in the most recent decade (Reuters file)

Opinion | Rigorous evaluation should guide behavioural shifts

Being cognizant of cognitive biases is a useful way to conduct large-scale transformations in the country

RBI had introduced the large borrower framework three years ago to reduce concentration risk in a banking industry laden with bad loans. (Aniruddha Chowdhury/Mint)
RBI had introduced the large borrower framework three years ago to reduce concentration risk in a banking industry laden with bad loans. (Aniruddha Chowdhury/Mint)

RBI closely monitoring 50 shadow banks for signs of contagion

  • Shaktikanta Das informed that there have been some instances of governance lapses and RBI is dealing with it
  • RBI had warned that any failure among the largest NBFC or HFCs could cause losses comparable to a major bank collapse

ISRO launches Chandrayaan-2. (@isro)
'Kabir Singh' has continued to hold strong despite competition from 'The Lion King' and 'Super 30'. (AP)
Suzlon reported a total debt of  ₹11,141 crore as of 31 March. (Bloomberg)
Suzlon reported a total debt of 11,141 crore as of 31 March. (Bloomberg)

Suzlon gets a bad loan tag from Union Bank

  • More banks with exposure to the wind turbine maker likely to follow suit
  • Banks have to set aside 15% of their outstanding loans to a non-performing account as provisions

Shaktikanta Das’s comments, especially about the stance change being equivalent to a quarter-point cut, are being viewed as the first hint of the easing cycle nearing its end. (Bloomberg)
Shaktikanta Das’s comments, especially about the stance change being equivalent to a quarter-point cut, are being viewed as the first hint of the easing cycle nearing its end. (Bloomberg)

'Looking good': RBI chief on prospects of economic recovery

  • RBI governor Shaktikanta Das said he sees signs of recovery in growth
  • RBI’s switch to an accommodative stance in June in itself amounts to a 25 basis-point cut

A poster from Avengers: Endgame. The limited screen count for Endgame has to do with the fact that Hollywood films are not released in non-DCI compliant theatres in India.
A poster from Avengers: Endgame. The limited screen count for Endgame has to do with the fact that Hollywood films are not released in non-DCI compliant theatres in India.

‘Avengers: Endgame’ now highest grossing movie in the world

  • In India, Endgame stands as the highest grossing Hollywood film ever
  • About 30.6% of Endgame’s box office comes from the domestic market in the US

Gold prices today inched closer to  ₹36,000 per 10 gram
Earlier this month, the NCLAT allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds (Mint file)
Earlier this month, the NCLAT allowed ArcelorMittal’s purchase of Essar Steel, while modifying the distribution of the proceeds (Mint file)

Supreme Court puts Essar Steel sale to ArcelorMittal on hold, temporarily

  • The Supreme Court on Monday admitted lenders’ appeal against a bankruptcy court ruling that put secured creditors at par with operational creditors
  • The court said it would resolve issues arising from the Essar verdict expeditiously and fix an early date for hearing the case

RIL has developed a multizone catalytic cracking (MCC) process, which converts a wide range of feedstock to high-value propylene and ethylene in a single riser. (Mint)
RIL has developed a multizone catalytic cracking (MCC) process, which converts a wide range of feedstock to high-value propylene and ethylene in a single riser. (Mint)

How oil-to-chemicals integration saved the day for RIL

  • Reliance has developed an oil-to-chemical strategy to transform the Jamnagar refinery from a producer of fuels to chemicals
  • RIL has developed a multizone catalytic cracking (MCC) process, which converts a wide range of feedstock to high-value propylene and ethylene in a single riser

The benchmark Sensex Index fell 1% to 37,971.17 points. (Photo: Reuters)
Chandrayaan-2 comes 11 years after ISRO's successful first lunar mission Chandrayaan-1 which scripted history by making more than 3,400 orbits around the moon and was operational for 312 days till August 29, 2009.
Chandrayaan-2 comes 11 years after ISRO's successful first lunar mission Chandrayaan-1 which scripted history by making more than 3,400 orbits around the moon and was operational for 312 days till August 29, 2009.

India’s landmark mission Chandrayaan-2 takes off, to land on moon on September 7

  • September landing is crucial since it marks the beginning of the 14-daylight period on the moon
  • Chandrayaan-2 comes 11 years after the first mission to the moon in 2008

Loans to companies grew just 7.4%, a far cry from double-digit growth the lender reported in previous quarters (Mint file)
Loans to companies grew just 7.4%, a far cry from double-digit growth the lender reported in previous quarters (Mint file)

With sturdy Q1, Kotak Mahindra Bank seeks good pockets to lend

  • Kotak Mahindra Bank reported a deceleration in loan growth to 18% for Q1 from 22% a year ago
  • The management cited a slowdown in demand and flagged concerns over auto, real estate, small biz

Kavita Kumble took a loan from IDFC First Bank for her solo trip to Antarctica
 (Photo: istock)
(Photo: istock)

Opinion | After all the noise, traditional insurance still isn’t customer-friend

The cost of early surrender needs to be felt by insurers, intermediaries, not customers

Photo: iStock
The ministry further said refund in relation to such supplies shall be available only as refund of unutilised Input Tax Credit (ITC) and not as refund of Integrated GST. ( Indranil Bhoumik/Mint)
The ministry further said refund in relation to such supplies shall be available only as refund of unutilised Input Tax Credit (ITC) and not as refund of Integrated GST. ( Indranil Bhoumik/Mint)

No GST invoice required if goods taken abroad for exhibition are brought back

  • It also said goods taken out of India in this manner are required to be either sold or brought back within a period of six months from the date of removal
  • The ministry further said refund in relation to such supplies shall be available only as refund of unutilised Input Tax Credit

Noida: A view of the Amrapali Silicon Society buildings in which the body of an unknown woman was found abandoned in the gap between the two towers, at Sector 76 in Noida.  (PTI )
Noida: A view of the Amrapali Silicon Society buildings in which the body of an unknown woman was found abandoned in the gap between the two towers, at Sector 76 in Noida. (PTI )

Supreme Court to pronounce verdict on Tuesday in Amrapali Case

  • The court had asked Noida authority to explain what action it has taken against Amrapali Group
  • On 8 May, the apex court had said that it would throw Amrapali out from its properties and transfer its lock, stock and barrel to Noida and Greater Noida

TVS Motor’s recent investments include $2.5 million in IoT firm Altizon, $3.85 million in ML developer TagBox and about  ₹11 crore in electric motorcycle startup Ultraviolette Automotive.
TVS Motor’s recent investments include $2.5 million in IoT firm Altizon, $3.85 million in ML developer TagBox and about 11 crore in electric motorcycle startup Ultraviolette Automotive.

TVS Motor invests $7 million in US-based Scienaptic Systems

  • TVS Motor’s recent investments include $2.5 million in IoT firm Altizon
  • TVS Motor says solutions built on Ether will help the firm to improve risk and credit assessment and monitor evolving fraud patterns among other benefits

Oriental Bank’s interest income grew 15% to  ₹4,919.82 crore in the three months ended 30 June from a year earlier (Photo: Pradeep Gaur/Mint)
Oriental Bank’s interest income grew 15% to 4,919.82 crore in the three months ended 30 June from a year earlier (Photo: Pradeep Gaur/Mint)

Oriental Bank of Commerce posts 112.7 crore net profit in Q1

  • Bank’s gross NPAs declined to 12.56% in Q1 from 17.89% a year ago and net NPA fell to 5.91% from 10.63% a year ago
  • OBC’s interest income grew 15% to 4,919.82 crore in the three months ended 30 June from a year earlier

A general view of Lok Sabha, in New Delhi on Monday.  (ANI )
The Asus ROG Phone II
 (Photo: Arvind Yadav/HT)
Gross NPA rose 18.31% to  ₹4,613.52 crore during the quarter (Mint file)
RBI governor Shaktikanta Das. (Photo: Bloomberg)
RBI governor Shaktikanta Das. (Photo: Bloomberg)

Monitoring NBFCs for ‘signs of fragility’, says Shaktikanta Das

  • RBI is working with lenders to prevent the collapse of another large systemically important NBFC, says Das
  • We will ensure the banks are provided adequate funds. While the system is in surplus mode, it is possible that one or two banks may have liquidity issues, says RBI Governor

An agricopter designed by students of IIT Madras to eliminate manual spraying of pesticides. The device can also assess the crop health by using its multi-spectral imaging camera. (PTI )
An agricopter designed by students of IIT Madras to eliminate manual spraying of pesticides. The device can also assess the crop health by using its multi-spectral imaging camera. (PTI )

IIT students develop 'Agricopter' to eliminate manual spraying of pesticides

  • The innovation will allowing spraying pesticides ten times faster and with 100% precision at the same cost as manual spraying
  • The team of three then set out to design a technological solution that would eliminate the need for farmers to come in contact with pesticides

As of May, Grofers was clocking around 60,000 daily orders, with an average order value of Rs1,450.
As of May, Grofers was clocking around 60,000 daily orders, with an average order value of Rs1,450.

Grofers to deploy 500 electric vehicles by December

  • Grofers plans to launch EVs for last-mile delivery in the 13 cities they are present
  • Grofers also working with the govt to run pilots on four-wheeler EVs--which can be used to transport products from the company’s warehouses to distribution centres

Jaypee Infratech went into insolvency in August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an IDBI Bank-led consortium.. Photo: Ramesh Pathania/Mint
Jaypee Infratech went into insolvency in August 2017 after the National Company Law Tribunal (NCLT) admitted an application filed by an IDBI Bank-led consortium.. Photo: Ramesh Pathania/Mint

Will pay creditors entire amount; complete due projects in 3 yrs: Jaypee Infra

  • The NCLAT reserved its order over exclusion of litigation period from the ongoing Corporate Insolvency Resolution Process of Jaypee Infratech
  • A two-member bench headed by Chairman Justice S J Mukhopadhaya asked the Jaiprakash Associates Ltd to file written submissions over exclusion of time frame

A still from Mulk, which did not find box-office success but has managed to garner views on video streaming platform ZEE5.
A still from Mulk, which did not find box-office success but has managed to garner views on video streaming platform ZEE5.

Streaming sites a haven for niche films while blockbusters take to TV

  • Video streaming services have become a haven for experimental films that are unlikely to find theatrical draw
  • Impressions, a term used by the viewership measurement agency BARC, refer to the number of individuals in thousands of a target audience who viewed an event, averaged across minutes

The report also pointed out that as developers exercised caution awaiting the result of the general elections (Ppradeep Gaur/mint)
The report also pointed out that as developers exercised caution awaiting the result of the general elections (Ppradeep Gaur/mint)

Home sales decline 11% in June quarter; Noida saw sharpest fall

  • According to the report ‘Real Insight Report’ by PropTiger, home sales fell 11% year-on-year in the nine cities including Mumbai and Bengaluru
  • Home sales in Noida saw the sharpest decline, falling 56%, followed by Ahmedabad and Bengaluru