Top headlines: NDA leading in Bihar polls, Oaktree revises bid for DHFL

The Election Commission says counting of votes will take longer than usual in Bihar.

The BJP is inching ahead to emerge as the single largest party in Bihar, leaving behind alliance partner Janata Dal United. The Election Commission says counting of votes will take longer than usual. Here is more on what happened today

Bihar election results: NDA crosses half-way mark in Assembly

According to the latest updates, the National Democratic Alliance (NDA) — the Bharatiya Janata Party (BJP), the Janata Dal (United, and a few other parties — is set to defy exit polls and retain power in Bihar. The counting of votes, which began at 8 am, is likely to continue late into the evening because of a staggering increase in the number of EVMs on account of the coronavirus pandemic. So far, 50 per cent of the votes have been counted, according to the Election Commission of India. Follow live here...

Oaktree revises its bid for DHFL upwards, now offers Rs 33,000 cr

US-based asset management company, Oaktree has revised its bid for the bankrupt Dewan Housing Finance Corporation (DHFL) to Rs 33,000 crore from Rs 27,800 crore offered earlier. The offer includes Rs 12,000 crore of cash currently with DHFL which will be given to the lenders – if its bid is accepted. In its earlier bid, Oaktree had offered to pay Rs 15,800 crore for the entire company, payable after seven years. The new offer will also include deferred payments linked to the milestones achieved by the company. Read More...

After FPIs, domestic brokers' lobby voices concern over T+1 settlement

After overseas investors group, brokers lobby Association of National Exchanges Members of India (Anmi) has expressed concerns over the proposal to halve the settlement cycle to so-called T+1. The move will increase the working capital requirement for brokers, raise the work load on the system and will leave little room for contingencies, Anmi has said in a letter to the chairman of Securities and Exchange Board of India, Ajay Tyagi. Read More...

Chandigarh issues tender for complete privatisation of power discom

Becoming the first Union Territory to offer its power distribution company for complete privatisation, Chandigarh has issued a tender inviting bids for the same. Privatisation of discoms was part of Centre’s Aatmnirbhar Bharat plan announced in May for economic revival. The Electricity wing of engineering department of Union Territory of Chandigarh invited bids from interested entities meeting the qualification requirements, to participate in the competitive process for “selection of bidder for purchase of 100 per cent shares in Distribution Company responsible for distribution and retail supply of electricity and having distribution licence in the UT of Chandigarh.” Read More...

Azim Premji tops EdelGive Hurun India Philanthropy list 2020

Even though they are successful in the businesses they run, striving hard for the profit their companies earn and fighting bitter boardroom battles at times, India Inc has always helped society and made others benefit from their success. Azim Premji, the 75-year-old former chairman of Wipro has been the most generous philanthropist in India for 2020 with a donation of Rs 7,904 crore, as per EdelGive Hurun India Philanthropy List 2020 unveiled Tuesday. Read More...