Top headlines: Delhi bans gatherings; I-T raids at Chinese mobile firms

Business Standard brings you the top headlines on Wednesday

Omicron effect: Delhi bans gatherings for Christmas, New Year celebrations

Amid a rise in coronavirus cases and the threat of the Omicron variant, the Delhi Disaster Management Authority (DDMA) on Wednesday directed district magistrates to ensure no Christmas and New Year gathering takes place in the national capital.

It ordered the district magistrates (DMs) to identify potential COVID-19 superspreader areas ahead of Christmas and New Year. Read more

I-T raids continue on Chinese mobile firms, OPPO says cooperating

With the Income Tax department conducting searches at several premises of Chinese mobile companies across the nation, smartphone brand OPPO said on Wednesday it will continue to cooperate with authorities as per procedure.

According to sources, the smartphone companies were allegedly violating rules and norms to evade taxes and were on the radar of several probe agencies, including the I-T department. Read more

Appropriate public issue pricing crucial: Sebi chief to investment bankers

Seeking to send out a strong message, Sebi Chairman Ajay Tyagi on Wednesday said it was incumbent upon the merchant banker community to not only follow the regulations in letter but also in spirit as he emphasised that appropriate pricing is crucial for public issues.

While urging merchant bankers to engage in wider consultations as for a proper balance between the issuers' aspirations and investors' interests, he also said that "needless to say, Sebi will not shy away from taking required action if it finds any intermediary not adhering to its mandate". Read more

High-level IOC team in Bengal's Haldia to probe refinery fire

A high-level team of the Indian Oil Corporation (IOC) on Wednesday arrived at West Bengal's Haldia from Delhi to probe the cause of the refinery fire that claimed the lives of three people and caused burn injuries to 44 others on the previous day.

Among those injured in the blaze, 38 are undergoing treatment at various super-specialty hospitals in Kolkata and their condition is stated to be stable, while three contractual workers were discharged after preliminary treatment, an IOC spokesperson said. Read more