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While the Competition Commission of India (CCI) has no issues with PEs owning minority stakes in rival companies, in terms of board representation it wants these funds to choose one company and give up directorship in the rival companies, they said.

It said that in the past few years Asian countries led by India, Vietnam and Thailand witnessed a steep rise in crypto ownership, leading to a scenario where the correlation between equity market performance and crypto asset performance had increased.

The IRP, Vijay Kumar Iyer backed by Deloitte India, received Rs 21,058 crore claims from financial creditors; however, all claims were not admitted as some are still under verification. The highest admitted claim among financial creditors is from offshore bondholders of Rs 4109 crore, constituting 23.4% of voting rights.

The European Central Bank must keep raising interest rates even if a recession in Germany is increasingly likely, as inflation will stay uncomfortably high all through 2023, Bundesbank President Joachim Nagel said over the weekend.

Shyam Century Ferrous (Re 0.3 per share) and Sun TV Network (Rs 5 per share) had announced their interim dividends. Shares of 7NR Retail will turn ex-rights today. The company had announced a rights issue of 1 share for every 1 share held, offered at Rs 1.4 apiece. Fine Organic Industries and Salem Erode Investments will have their annual general meetings (AGM) today.

Stocks that were in focus included Adani Power which closed with gains of 5 per cent, ITC which hit a 52-week high and closed marginally higher and Tata Communications which ended with gains of nearly 1 per cent but with strong volumes on Monday.

EPFO’s Kandivali office was also mired in another fraud case in February when the Central Bureau of Investigation (CBI) filed an FIR against eight EPFO employees who reportedly siphoned off Rs 21.5 crore via 817 migrant workers’ bank accounts.

Special judge while rejecting Nawandar’s bail plea observed “... in light of an apparent chain or maze of entities through which these funds may have been funneled/ diverted/ round-tripped/ invested is inevitably a painstaking and sequential exercise. Multiple persons are reasonably to be expected to emerge as having participated in the fraud which allegedly commenced with the obtaining of these loans, continues with the diversion of the same and may still not have concluded in as much as the funds may still be in circulation or may, at the very least, be still undiscovered,”the order read.

While the salt-to-steel conglomerate is in the final stages of closing orders for around 200 narrowbody and widebody jets, it is planning to take aircraft from the secondary lease market to beef up capacity in the short term.

ET had first reported on May 27 that Reliance Industries, HPCL-Mittal Energy, Jindal Poly Films, Gail, Jindal Power, MCPI Ltd, and a consortium of ONGC and Indian Oil have submitted expressions of interest (EoI) for JBF Petrochemicals.