Top biz headlines: Search at Kochhars', IBC buys, IL&FS overhang & more

From ED raids at Kochhar's residence to IL&FS, here are the top 10 business stories that made news on Friday

ED searches premises of Chanda Kochhar, Deepak Kochhar in Videocon case

The Enforcement Directorate on Friday carried out an extensive search operation at the residence of Chanda Kochhar, former managing director and chief executive officer at ICICI Bank, in the Rs 3,250-crore Videocon group loan case. Read more...

Sebi tightens norms for liquid MFs, takeover regulations of firms under IBC 

The Securities and Exchange Board of India tightened the valuation methodology for liquid mutual funds and did away with the open offer exemption given to those seeking to acquire assets undergoing insolvency resolution. Read more...

I am wiling to make any sacrifice, Naresh Goyal tells Jet employees

Jet Airways Chairman Naresh Goyal has told employees he was willing to make any sacrifice for the viability and prosperity of the airline and assured them of detailed update on the resolution by March 18. Read more...

BNP Paribas sells 9.2% stake in SBI Life Insurance for Rs 4,751 crore

BNP Paribas Cardif, the joint venture partner in SBI Life Insurance, has sold 9.2 per cent of its stake in the private life insurance company for Rs 4,751 crore. Read more...

Ravneet Gill takes charge as YES Bank MD & CEO, succeeds Rana Kapoor

A career banker with a long innings at Deutsche Bank, Gill comes in place of Rana Kapoor, the bank’s co-promoter and former MD and CEO. Read more...

IL&FS lenders to continue making provisions for loans to the group

With limited prospects for recovery of loans to Infrastructure Leasing and Financial Services and its subsidiaries in the near term, lenders will continue to make provisions for loans to the group. Read more...

GST collections drop to Rs 97,247 cr in Feb; rate cuts may have hit mop-up

The goods and services tax (GST) collections fell to Rs 97,247 crore in February, dropping marginally from a mop-up of Rs 1.02 trillion in January. Read more...

Failure to repay a loan is not a criminal offence unless there is fraudulent intent: SC

In a significant ruling, the Supreme Court has held that failure to repay a loan is not a criminal offence unless there is a fraudulent intent, reports Hindu Business Line.

Grant Thornton audit of IL&FS group company shows Rs 2,364 crore given to promoters, directors

The Enforcement Directorate is investigating the alleged money laundering of Rs 2,364 crore from the books of IL&FS Financial Service Limited, identified in a forensic audit performed by Grant Thornton, reports Moneycontrol.

IHH commitment to Fortis unchanged, unwavering: CEO Taa See Leng

IHH Healthcare commitment to Fortis Healthcare Ltd remains "unchanged" and "unwavering", said chief executive officer Taa See Leng on Friday, despite several hurdles that have come in the way of the Malaysian firm's India investment, reports Livemint.