News digest: Rising fuel prices, Videocon case, Sterlite protest and more

From Rising fuel prices, Videocon case to Sterlite protest, BS brings you up to date with the latest news

Natural gas, jet fuel may enter GST first

With demand for including petroleum in the goods and services tax increasing as fuel prices skyrocket, natural gas and aviation turbine fuel (ATF) may be the low-hanging fruit the GST Council may take up before petrol and diesel. Read More
 
Govt needs to resolve banking mess: CEOs

The Narendra Modi government should deliver on its promises in the final year of its five-year term, India Inc says, adding the development of the country must go beyond sloganeering and take into account the ground progress. Read More
 
Sebi notice to Chanda Kochhar

The Securities and Exchange Board of India (Sebi) has widened its probe into the controversial
Rs 32.50-billion loan that ICICI Bank sanctioned for the Videocon group.
The capital markets regulator has sent a notice to the lender and its MD and CEO, Chanda Kochhar, seeking further information on the dealings between the bank and Videocon, besides the alleged business transactions between Videocon and NuPower Renewables, an entity in which her husband, Deepak Kochhar, has an economic interest, the bank informed stock exchanges on Friday. Read More
 
Toyota to make cars developed by Suzuki

Japanese automobile major Toyota’s India subsidiary is likely to produce models developed by Suzuki for sale in the Indian market through retail outlets of Maruti Suzuki and Toyota. These models, and others from Suzuki, will also be exported to markets like Africa for sale through the network of the two Japanese entities. Toyota’s local entity has a capacity to produce 310,000 vehicles a year but is able to use just half the capacity from the current sales. Read More

 
Feeble signs of calm in Thoothukudi
 
S Vasantha has been trying to buy sugar tablets for the last four days. First the chemist was closed, when it reopened the ATM had run out of money. Like Vasantha, life for residents of Thoothukudi has been thrown completely out of gear as the busy streets of the city, renowned for its pearl fishing, remained deserted on Friday. Read More