Former ICICI Bank CEO Chanda Kochhar on Friday moved the Supreme Court challenging her termination from the bank, and sought all the pensionary benefits. Kochhar has challenged the Bombay High Court's March 5 order that dismissed her petition against her termination on the grounds that the termination was under a private contract and it cannot be challenged.

AU Small Finance Bank will focus on vehicle and MSME loans to grow its loan book. The bank forayed into south India in August and commenced operations in Bengaluru. The bank has as many as 382 full fledged branches and over 710 banking touchpoints. Notably, around 70% of the bank's deposits now come from Maharashtra, Rajasthan and Delhi.

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OFS (Offer for Sale) is a transparent process through which promoters of listed companies can sell their shares at the exchange to divest their shareholdings. On the other hand listed companies release an FPO (Follow-on Public Offering) to raise additional capital to materialise their expansion plans and pay off a debt.

Securities and Exchange Board of India on Friday proposed a revamp of the delisting rules that will put bigger responsibilities on companies' independent directors in the process and improve disclosure requirements. The capital markets regulator has asked independent directors to give recommendations with reasons on why they are for or against the delisting plan.

In an attempt at pruning its workforce, Ashok Leyland (ALL) on Friday announced a voluntary retirement scheme for its executive cadre, making 5,700 eligible to opt for the plan. Executives who have completed as little as 1 year can opt for the VRS. NV Balachandar, president, HR, CSR & communication, ALL, told FE the objective of the VRS is to scale down the team & bring in more efficiency.

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Sensex and Nifty today recovered from intra-day losses to close higher, led by gains banks and financial stocks. Nifty 50 index closed 0.68% higher after a more than 1% drop on Thursday. The S&P BSE Sensex ended 0.65% higher. World stocks edged higher on Friday as hopes of economic recovery ahead helped offset the blow dealt by news that the U.S. Treasury was ending emergency loan programmes.

Gland Pharma shares witnessed strong buying interest on November 20 and closed with a 21 percent premium over the issue price on the listing day despite a tepid response to its IPO. The rally pointed to investors' believe in the company's strong fundamentals and promoters’ background, experts said. The stock settled at Rs 1,820.45 on the BSE, a 21.36 percent premium over IPO price.

Communication service provider Route Mobile on Friday said it has appointed company's co-founder Sandipkumar Gupta as the chairman with effect from November 19. Besides, Arun Gupta has been named as the additional director (non-executive independent). Sandipkumar succeeds Chandrakant Gupta, who will continue to serve on the company's board as non-executive non-independent director. .

CCI on Friday approved Future Group-Reliance Retail deal. "Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited," CCI said in a tweet. The retail and wholesale undertaking of Future Group will be transferred to Reliance Retail and Fashion Lifestyle Limited.

The Indian government sent the highest ever user data requests to Facebook, second only to the US, in the first six months of 2020, the social media giant said in its biannual transparency report released on November 19. The Indian government sent a total of 35,560 user data requests during January-June, over 33 percent more than 26,698 queries made in the second half of 2019.

Infosys on Friday announced the renewal of their highly successful partnership for a further 3 years. The agreement will see Infosys continue as Global Technology Services Partner and Digital Innovation Partner of the ATP, through 2023. Through the extended partnership, Infosys will continue to develop and accelerate innovations in advanced technologies such as AI, Data Analytics, and Cloud.

Ashima Ltd, one of India's leading cotton manufacturers, informed the exchanges on Friday regarding the company's plan to expand its business horizon. In a meeting of the Board of Directors held on November 20, 2020 the company has decided to adopt a new line of business. Ashima Ltd intends to enter into Real Estate business, the company intimated via a regulatory filing.