Top headlines: Kerala seeks Sputnik V plant; Covid crimps budget housing

Business Standard brings to you the top headlines on Thursday

Covid-19 vaccine Sputnik V could soon be manufactured in India by Russian firms. If Kerala's talks are successful, this would be one of the few sites of Sputnik V owned by Russian firms outside the country. More on this story and other top headlines

Russia in talks with Kerala govt for Sputnik V plant, says state minister

Covid-19 vaccine Sputnik V could soon be manufactured in India by Russian firms. The Russian authorities are in talks with the Kerala government for scouting land to set up an international manufacturing site for the vaccine, developed by the Gamaleya Centre. Read more

Covid crimps budget housing market as consumers cut down on expenses

Amid widespread economic distress and sinking income levels, the country’s real estate sector is undergoing a massive overhaul. This comes at a time when a broad swathe of consumers is cutting down on expenses, further crimping the affordable housing market. Read more

India in talks with Russia for $2-3 bn investment in upstream oil assets

India is in talks with Russia for a fresh investment of at least $2-3 billion in its upstream assets. According to officials in the know, the Russian government has offered some oil and gas fields to ONGC Videsh (OVL) and any consortium they stitch together. Read more

Govt considers automatic route for creditors in IBC to speed up resolution

In order to expedite the admission of insolvency resolution cases, the government is considering making the process automatic — for the financial creditors (FCs) to begin with. However, a senior government official said while this is the intent, such a move requires strengthening of the information utility (IU) system under the Insolvency and Bankruptcy Code (IBC). Read more

PNB Housing Finance vs Sebi: Mystery of the Articles of Association

It was a seemingly innocuous provision in the Articles of Association (AoA) of PNB Housing Finance (PNB HF) that has posed several larger questions around the need for amendments in preferential offer regulations. In the first place, that provision was not supposed to be part of the listed company’s AoA. Read more