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ED chargesheet against Reliance Power

Financial Express Lucknow

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December 07, 2025

THE ENFORCEMENT DIRECTORATE on Saturday said it has filed a chargesheet against businessman Anil Ambani’s group company Reliance Power and 10 others in a money laundering case linked to issuance of an alleged fake bank guarantee of %68 crore for securing a tender.

- PRESS TRUST OF INDIA

The other accused named in the prosecution complaint include former Reliance Power CFO Ashok Kumar Pal, Reliance NU BESS and Rosa Power Supply Company (subsidiaries of Reliance Power), Reliance Group executive Punit Narendra Garg, an Odisha-based “shell” company Biswal Tradelink, its MD Patha Sarathi Biswal and trade financing consultant Amar Nath Dutta.

MEER VERHALEN VAN Financial Express Lucknow

Financial Express Lucknow

Swiggy defends rejected board changes

SWIGGY ON WEDNESDAY defended its proposed amendments to its Articles of Association (AoA), saying the changes were intended to support its long-term goal of becoming an Indian Owned and Controlled Company (IOCC) and would not have resulted in concentration of founder control, after shareholders voted down the proposal last week.

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A new lexicon of Indo-US ties

The significance of Rubio’s visit lies in what it reveals about changing global politics: India-US partnership today is driven not by sentimentality but by converging structural interests

time to read

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Financial Express Lucknow

L&T arm inks pact with Israel-based EVR Motors

LARSEN & TOUBRO (L&T) on Wednesday said its business unit L&T Electronic Products & Systems (LTEPS), has entered into a strategic partnership with Israeli electric propulsion technology company EVR Motors, to jointly develop, manufacture and deploy next-generation EV traction motors for the Indian market.

time to read

1 min

May 28, 2026

Financial Express Lucknow

Air India cuts over 20% domestic flights till Aug

AIR INDIA HAS temporarily reduced domestic flight operations by over 20% and international services by more than 25% between June and August, citing sustained pressure from high aviation turbine fuel (ATF) prices and rising operating costs.

time to read

1 min

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Financial Express Lucknow

Coal India OFS gets 8x bids

INSTITUTIONAL INVESTORS ON Wednesday lapped up Coal India shares, putting in bids worth about ₹19,000 crore, with the issue getting over-subscribed 8.14 times on the first day.

time to read

1 min

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Financial Express Lucknow

Centre meets FY26 fiscal deficit target

THE CENTRE HAS met the fiscal deficit target of 4.4% of GDP for FY26 based on the new GDP series, with almost 99% achievement of expenditure target set for the year, sources told FE.

time to read

1 min

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Financial Express Lucknow

SBI bets on omnichannel banking with AI-led shift

STATE BANK OF India Chairman CS Setty has outlined a technology-led growth strategy for the country’s largest lender with a sharper focus on artificial intelligence (AI), digital infrastructure, customer experience and deposit mobilisation while retaining the bank’s branch-led relationship model.

time to read

1 mins

May 28, 2026

Financial Express Lucknow

China stalls nod to Airbus to back homegrown jets

CHINA HAS BEEN stalling the approval of Airbus deliveries to signal impatience with European regulators’ delay in certifying Chinese-made COMAC aircraft, Bloomberg News reported on Tuesday.

time to read

1 mins

May 28, 2026

Financial Express Lucknow

LIC stake sale worth ₹10K cr likely soon

THE GOVERNMENT IS likely to begin formal marketing next month for a planned share sale in Life Insurance Corporation of India (LIC) that could raise as much as ₹10,000 crore ($1 billion), according to people familiar with the matter.

time to read

1 min

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Financial Express Lucknow

PhysicsWallah eyes net profit in FY27

EDUCATION TECHNOLOGY PLATFORM PhysicsWallah expects to achieve profit after tax (PAT) profitability in FY27 as higher enrollments, improving operating leverage and growing use of artificial intelligence (AI) tools support margin expansion, co-founder Prateek Maheshwari said.

time to read

1 mins

May 28, 2026

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