BUSINESS HIGHLIGHTS
New Delhi, Aug 2 (PTI) Following are the top business stories at 2035 hours: DEL86 BIZ-LD NCLAT-BYJUS **** NCLAT approves Byju's settlement with BCCI, sets aside insolvency plea New Delhi: In a major relief for the embattled edtech major, the insolvency appellate tribunal on Friday approved the Rs 158.9 crore dues settlement with BCCI and set aside insolvency proceedings against Byju's, a move that will effectively put Byju Raveendran back in control of the firm. **** DEL23 BIZ-INCOME TAX-RETURNS **** New record of over 7.28 cr income-tax returns filed: Tax dept New Delhi: A new record of over 7.28 crore income tax returns were filed by the July 31 deadline, the income tax department said on Friday. **** DCM 54 BIZ-RCAP-LD IIHL RCAP resolution: CoC warns of remedial action; IIHL says deposited Rs 2,750 cr New Delhi: Lenders of debt-ridden Reliance Capital (RCAP) have warned IIHL of remedial action for delay in payment of front money, even as the Hinduja Group arm denied allegations saying it has already deposited Rs 2,750 crore under the resolution process in compliance with the NCLT order.
DEL59 BIZ-LD-STOCKS **** Sensex tanks 885 pts, Nifty retreats from 25K level as weak US data triggers global equity rout Mumbai: Halting its five-day winning run, benchmark BSE Sensex plunged 885 points on Friday due to profit-taking in metal, auto and IT stocks in line with a global selloff triggered by weak US macro data. **** DEL91 BIZ-LD RUPEE **** Rupee settles almost flat against US dollar Mumbai: The rupee settled 1 paisa higher at 83.72 against the US dollar in a range-bound trade on Friday, as gains from a weak American currency were offset by a massive sell-off in domestic equity markets. **** DCM76 BIZ-STOCKS-WEALTH **** Equity investors become poorer by Rs 4.4 lakh crore as markets clash New Delhi: Investor wealth eroded by Rs 4.46 lakh crore in a single day on Friday with the benchmark BSE Sensex tanking more than 1 per cent in line with global stocks rout.
DCM24 BIZ-SEBI CHIEF-IPO Sebi working on templatised offer document for firms to 'fill in the blanks' to get approvals: Buch Mumbai: Sebi chairperson Madhabi Puri Buch on Friday said the capital markets regulator is working on a mechanism to expedite IPO approvals, where companies can simply fill in the blanks in a template to get the go-ahead.
DEL63 BIZ-FOREX **** Forex reserves drop USD 3.47 bn to USD 667.386 bn Mumbai: India's forex reserves dropped by USD 3.471 billion to USD 667.386 billion for the week ended July 26, according to the RBI data released on Friday.
DEL61 BIZ-GOLD-PRICE **** Gold rises Rs 350; Silver slips Rs 200 New Delhi: Rising for the fourth straight day, gold prices gained Rs 350 to Rs 72,850 per 10 grams in the national capital on Friday, following higher local demand amid firm global trends. **** PTI SHW SHW
