IL&FS

IL&FS books sent to audit regulator

The Ministry of Corporate Affairs (MCA) has sent the books of Infrastructure Leasing & Financial Services (IL&FS), filled with auditing irregularities, to the newly constituted National Financial Reporting Authority (NFRA). “It will be a test case for the NFRA," a key source in the ministry said. Read More

Tatas take control of AirAsia India with new CEO, board

Five months after the position fell vacant, AirAsia India is appointing Sunil Bhaskaran its next chief executive officer (CEO). Bhaskaran, a lifelong employee of the Tata group, is currently working as vice-president (corporate affairs) at Tata Steel. Read More

Market rebounds from 6-month low

The stock market rebounded sharply from its six-month low on Wednesday amid a retreat in the US dollar, Brent crude, and bond yields. Read More

Govt cuts excise duty on ATF to 11%

The government on Wednesday cut excise duty on jet fuel, or ATF, to 11 per cent from current 14 per cent in a bid to give relief to the aviation industry, which has been hit hard by high fuel prices. A notification issued by the revenue department of the finance ministry said the duty change would “come into force with effect from October 11." Read More

At least 7 killed as train derails near Rae Bareli

Five coaches and the engine of the New Delhi-bound New Farakka Express derailed near Rae Bareli on Wednesday, killing at least seven people and injuring nine, officials said. The accident took place in Harchandpur area of Rae Bareli district at 6.10 am, Uttar Pradesh Additional Director General (Law and Order) Anand Kumar said. Read More