The Delhi High Court has issued a notice to DBS Bank India in connection with the ongoing Rs750 crore Religare Finvest Ltd (RFL) deposit case with erstwhile Lakshmi Vilas Bank (LVB). DBS has been given five weeks to respond to the notice. On 27 November, the LVB-DBS merger came into effect as per the amalgamation scheme notified by the government and the Reserve Bank of India (RBI).

Delhi-based brand boAt Lifestyle, which sells products such as earphones, headphones and smart watches, has reached the top five in the global wearables market, becoming the first Indian company to do so. boAt grabbed 2.6% of the global wearable shipment in September quarter to share the fifth position with Google's owned Fitbit.

SEBI has sought some "clarification" from BSE before giving its go-ahead to the ₹24,713 crore deal between Future group and Mukesh Ambani's Reliance Industries Ltd. In an update on November 27, the regulator said it is awaiting a reply to the "clarification" sought from the stock exchange on the draft composite scheme of arrangement between Future Group companies and Reliance Group companies.

The ED has filed the first chargesheet in the Cox and Kings money laundering case. The investigating agency has named the former chief financial officer and auditor of the travel firm in the chargesheet filed on December 2. Last week, Ajay Ajit Peter Kerkar, former promoter of Cox and Kings Limited, was arrested by the ED, as part of its money-laundering probe against Yes Bank founder Rana Kapoor.

NBFC-major Bajaj Finance on Thursday said that the Debenture Allotment Committee of the Company has, at its meeting held on 03 December 2020, allotted 7550 Secured redeemable non-convertibles debentures. The debentures were allotted on a private placement basis.  The debentures have a tenor of 2 years with a maturity date on December 02, 2022.

Aditya Birla Group firm UltraTech Cement Ltd on Thursday announced ₹5,477 crore investment towards 12.8 mtpa capacity expansion with a mix of brown field and green field expansion. Upon completion of the latest round of expansion, company's capacity will grow to 136.25 mtpa. The Board of Directors at its meeting held today, approved increasing capacity by 12.8 mtp.

Fisdom, a wealth-tech company, on Thursday said it has raised USD 7 million (about Rs 51.7 crore) in funding led by PayU. The round also saw participation from existing investors, Quona Capital and Saama Capital, a statement said. The fresh funding will be deployed towards new product development, customer acquisition and explore acquisition opportunities.

With a net worth of Rs 54,850 crore, HCL Technologies Chairperson Roshni Nadar Malhotra is India's richest women in 2020, according to a study by Kotak Wealth and Hurun India. Biocon Chairperson Kiran Mazumdar-Shaw is the second-richest woman on the list, with a net worth of 36,600 crore, followed by Leena Gandhi Tewari, Chairperson of USV (Rs 21,340 crore).

Indian telecom war may be long from being over as more and more people move to 4G network. "Bharti Airtel Ltd’s (Ba1 stable) margins are likely to improve to about 45 per cent in 2021 from 40 per cent for the 12 months through September 2020, on the back of rising average revenue per user (ARPU) and a higher proportion of 4G subscribers,” the Moody's research report said.

Tata Power Company Limited informed the exchanges Thursday that its wholly owned subsidiary Coastal Gujarat Power Limited (CGPL) has repaid Rs1,550cr bank loans on December 2, 2020. With this repayment and the earlier repayment of Rs2,600cr of bank loans made in October 2020, the entire bank loans of CGPL aggregating to Rs4,150cr have been fully repaid.

SBI Cards & Payments Services jumped nearly 5 per cent on Thursday after the Reserve Bank of India (RBI) asked top private lender HDFC Bank to temporarily stop launch of new digital business activities and not to add new credit card customers following repeated outages in its electronic banking services. The central bank has also asked the bank’s board to examine the lapses and fix accordingly.

The Indian economy is witnessing a V-shaped recovery as the Gross Domestic Product (GDP) has recorded a quarter-on-quarter growth of 23 percent in the July-September quarter of this fiscal, according to the Finance Ministry''s latest Monthly Economic Review. The decline in the GDP narrowed to 7.5 percent in the second quarter of this financial year, over 23.9 percent in April-June quarter.

'Mahashay' Dharampal Gulati, the owner of Mahashian Di Hatti (popularly known as MDH), passed away Thursday morning at the age of 97. According to reports, he was undergoing treatment at Chanan Devi Hospital for the past few weeks and suffered a cardiac arrest on Thursday morning. MDH is a homegrown brand which has more than 60 products.

Digital payments major PhonePe has been hived off from parent entity, Walmart-owned Flipkart Group, and will be valued at $5.5 billion, the company said on Thursday. Flipkart, however, will continue to own majority share of 87% in the hived-off entity PhonePe Private Ltd., with US-retail giant Walmart owning 10% stake, and existing investors including Tiger Global Management holding remaining 3%.

Ace investor Radhakishan Damani, promoter of Avenue Supermarts, and persons acting in concert (PACs), have trimmed stake in Tata group's retail arm Trent by selling over 28.22 lakh shares in the open market for an estimated sum of over Rs 202 crore. . The shares were sold on November 27, 2020, and, based on the weighted average price of the stock at Rs 717.92 apiece.