Do not indulge in 'polemics', says India after Pak rakes up Kashmir in UN

Pakistan's new government must not indulge in "polemics" but work to build a South Asian region free of terror and violence, India has said after Pakistan raked up the Kashmir issue at the UN Security Council.

India's Permanent Representative to the UN Ambassador Syed Akbaruddin's remarks came during the UNSC debate on Mediation and Settlement of Disputes.

"I take this opportunity to remind - Pakistan - the one isolated delegation that made unwarranted references to an integral part of India, that pacific settlement requires pacific intent in thinking and pacific content in action," Akbaruddin said at the debate on Wednesday.

Pakistan's Ambassador Maleeha Lodhi raked up the Kashmir issue during the debate, drawing a sharp reaction from Akbaruddin who said Pakistan is "regurgitating a failed approach, which has long been rejected, is neither reflective of pacific intent nor a display of pacific content.

Road accidents led to 3 deaths every 10 minutes in India in 2017: Report

Road Accident - Nearly three persons died every ten minutes in road accidents across India last year, a yet to be published official report revealed, a grave reminder of abysmal road safety standards in the country.

The report, which is being prepared by the Transport Research Wing of the Ministry of Road Transport and Highways, also discovered that a total of 4,64,910 road accidents were reported by states and union territories in the calendar year 2017, claiming 1,47,913 lives and causing injuries to 4,70,975 persons.

The subject of road safety is an important one and the delay in the passage of Motor Vehicle (Amendment) Bill 2016, which proposes hefty penalties ranging from Rs 500 to Rs 100,000. State governments can even increase the fine up to 10 times.

Victims of hit-and-run cases would now be compensated for up to Rs one million in case of road accident fatalities.

SC/ST community can't claim quota benefits in govt job in another state: SC

Maratha QuotaStir - Member of SC/ST community of a state cannot claim quota benefits in govt job in another state unless his/her caste is notified there, the Supreme Court said on Wednesday.

The apex court also said that the benefits of quota for SC/ST would stand confined to geographical territory of a state or union terrritory.

The court, however, held that in Delhi the pan-India reservation rules for SC/ST would be debatable.

PayPal announces partnership with Brazil's biggest private bank Itaú

Digital payments company PayPal Holdings Inc on Wednesday announced a partnership with Brazil's biggest private lender Itaú Unibanco Holding SA to offer its services to the bank's card clients. PayPal's general-director in Brazil, Paula Paschoal, said the company expects to add 1 million users to its current 3.8 million client base in Brazil in two years as a result of the partnership. Itaú is PayPal's first partner in Brazil, but Paschoal said the company is open to new agreements with other financial institutions in the country.

Greaves Cotton to acquire Ratan Tata-backed Ampere Vehicles

Greaves Cotton, a diversified engineering company, will acquire a majority stake in Coimbatore-based electric vehicle company Ampere Vehicles Pvt Ltd. Quantum of the deal was not disclosed. Ratan Tata-backed Ampere has in-house capabilities in designing, developing, manufacturing & marketing electric vehicles with a wide range of applications. Greaves currently provides transportation to almost 10 million people daily through its powertrain solutions. In addition, Greaves reaches 5 million customers (of aftermarket spare parts) per month through its network of over 5000 retail outlets. The newly launched Greaves Care network services nearly over 7000 vehicles per month, with plans to substantially ramp-up in the coming years. Greaves will be able to leverage its distribution, aftermarket and service strengths to help Ampere grow more rapidly, said the company.

Bharti Airtel shareholders approve merger proposal with Tata Teleservices

Telecom major Bharti Airtel today said its shareholders have approved the proposed merger between the company and Tata Teleservices as part of ongoing proceedings at the National Company Law Tribunal (NCLT). The special resolution to approve the proposed composite scheme of arrangement between Tata Teleservices, Bharti Airtel and Bharti Hexacom received 99.97 per cent voting in favour of the resolution, Bharti Airtel said in a regulatory filing. There was 100 per cent voting in favour of the resolution from the promoter and promoter group, as well as public - institutions category. About 99.97 per cent votes were cast in favour of the proposal by the public non-institutions shareholders, it added. The filing detailed out the "voting results of the meeting of equity shareholders of Bharti Airtel" convened on August 28 as per the directions of the Principal Bench of the NCLT in New Delhi.

Sebi slaps Rs 3.5 mn fine on Zeestar, directors for illegal CIS scheme

Sebi on Wednesday imposed a total fine of Rs 3.5 million on Zeestar Multi Club and Tours as well as its directors for illegally raising fund from investors through unregistered Collective Investment Scheme (CIS). The directors of Zeestar -- Mrinal Atal, Surendra Kumar and Shailendra Prasad Badoni -- were acting as directors of the company during the mobilisation of funds, Sebi said in an order. Sebi in an examination found that the firm and its directors in 2010 had offered schemes whereby the investors had to pay an initial amount towards the construction of cottages and other infrastructure for tourism purposes. 

The company then promised to put such cottages on rent and had assured monthly reimbursement/ income to the investors. Noting that the scheme carried out by Zeestar constituted collective investment scheme, Sebi said the firm was carrying out CIS activities without obtaining a certificate of registration in accordance with the provisions of CIS regulations and thereby contravened CIS norms.