This is the first capital infusion by the Walmart-backed e-commerce giant ever since the US-based retail behemoth acquired a majority stake in the company.

Ola's latest round of funding from the two Chinese investment firms comes when the company is eyeing expansion across India and abroad.

Those who have failed to comply with the directive may face government action, and their accounts will be reactivated only after a fee payment of Rs 5,000 along with the requisite form.

The GDP back series data 'accidently' became public thanks to a report on real sector statistics prepared by a committee constituted by the National Statistical Commission. In the din that ensued, some of the more serious concerns that the committee raised regarding quality of the data got lost. Business Today's Prosenjit Datta and Dipak Mondal caught up with Sudipto Mundle, chairman of the Committee on Real Sector Statistics, which prepared the new series, to dig deeper into the observations made in the report. Edited excerpts:

The government has termed the move a step towards 'Minimum Government-Maximum Governance and providing Ease of Doing Business to the law-abiding corporates of this country'.

The Companies Act sets certain limits regarding pay for the managerial personnel of public companies, which are generally subject to stricter corporate governance requirements and have more than 200 members.

This step has been taken to enhance transparency, increase investor protection and improve corporate governance, the Corporate Affairs Ministry headed by Arun Jaitley said in a statement.

India pips Japan in GDP based on purchasing power parity; Raghuram Rajan blames 'over optimistic bankers' for bad loans, NPA mess; GAIL India aims to add 5,500 km gas pipeline in 3 years; and Deepak Kochhar summoned by Corporate Affairs Ministry in ICICI Bank-Videocon loan case. Watch this episode of Business Wrap.

Interpol issues red-corner notice against Nirav Modi's sister Purvi ModiAfter the Interpol issued a red-corner notice (RCN) against a close aide of diamantaire fugitive Nirav Modi, Mihir Bhansali, it has issued another notice against Purvi Modi, who is a Belgian national and the sister of Nirav Modi. The RCN has been issued on the request of the Enforcement Directorate to the Interpol, as the ED seeks to interrogate her on the alleged charges of 'money laundering'.After Bharat Ban...

NuPower Renewables and NuPower Wind Farms are among the six companies whose books are being inspected by the ministry.

Capital markets regulator SEBI may soon summon ICICI Bank's on-leave CEO Chanda Kochhar and her husband with regard to a probe into alleged regulatory lapses with regard to his business dealings.

The government may be readying a set of rules to shut down and further check the formation of shell companies.

While there are stringent provisions under the Companies Act, 2013 to ensure good governance standards, the roles of independent directors has come under the scanner in certain instances of corporate misdoings.

Set up by Piyush Goyal when he was the interim finance minister, the panel today submitted a report on the review of penal provisions of Company Act 2013 to Arun Jaitley.

The compensation that independent directors receive from companies has been cited by many as a big reason, which undermines the independence of independent directors.

A senior ministry official said the Registrar of Companies (RoC) has asked for details from the airline about certain issues and that the process is going on. Specific details could not be immediately ascertained.

Chanda Kochhar to be considered for director's post on ICICI Securities boardICICI Bank CEO and Managing Director Chanda Kochhar has suggested her name for a seat on the Board of Directors of ICICI Securities, the private lender's broking arm. The proposal will be up for consideration during the annual general meeting of ICICI Securities scheduled for August 30.Kochhar is facing scrutiny from several regulatory bodies as well as an internal probe initiated by the ICICI Bank over c...

Arun Jaitley, 65, stopped attending office at the beginning of April, and will be back in North Block - the seat of Finance Ministry - later today.

This missive comes in the light of arrest of Bhushan Steels erstwhile promoter Neeraj Singal by the Serious Fraud Investigation Office (SFIO) for allegedly siphoning off funds.

Singhal has been sent to judicial custody till August 14. The SFIO has found that former promoters of BSL used multitude of complex, fraudulent manoeuvres to siphon off funds amounting to thousands of crores raised by then management of BSL.