Top headlines: RBI supersedes SREI; Invesco seeks mandatory order from NCLT

Business Standard brings the top headlines of the day

RBI supersedes boards of SREI companies, plans for insolvency proceedings

The Reserve Bank of India (RBI) on Monday superseded the boards of Srei Infrastructure Finance and Srei Equipment Finance, and said they will be taken for insolvency proceedings "owing to governance concerns and defaults by the aforesaid companies in meeting their various payment obligations".

In a statement, RBI said it has appointed Rajneesh Sharma, ex-chief general manager of Bank of Baroda, as the administrator of the companies. Read more

Invesco asks NCLT to make 'mandatory order' directing Zee to call for EGM

Invesco Developing Markets Fund, which moved the National Company Law Tribunal (NCLT) against Zee Entertainment Enterprises for delay in holding an extraordinary general meeting (EGM), asked the tribunal on Monday to pass a “mandatory order” directing Zee to call for an EGM as requisitioned by it. 

Invesco also sought the appointment of a retired high court judge, under who chairmanship the EGM can be held. Read more

Shah Rukh Khan's son Aryan sent to narcotics agency's custody till Oct 7

A local court on Monday extended the NCB custody of Aryan Khan, son of Bollywood superstar Shah Rukh Khan, and two others till October 7 in connection with the seizure of banned drugs onboard a cruise ship off the Mumbai coast.

The trio was produced before the court after the end of their one-day custody given to the Narcotics Control Bureau (NCB) on Sunday. Read more

Coal ministry wraps up agenda document for sectoral reforms, sustainability

The coal ministry on Monday said it has finalised an agenda document for the ongoing fiscal which broadly focuses on areas like reforms, transition and sustainability in the coal sector.

This is for the first time that an agenda document for the ensuing year has been brought out in the form of a compilation and provided to all senior functionaries who have been apportioned the responsibility of steering the four broad focus areas through the year with regular monitoring and appraisals. Read more