Top headlines: Zee boss 'will fight' takeover bid; govt stocks up coal

Subhash Chandra alleges Invesco is gunning for illegal takeover of his media company.

A Reserve Bank of India-appointed administrator has told the Kolkata-based Srei group there won't be any job losses after the regulator took over the board.

More on this and other top headlines of the day

RBI-appointed Srei administrator assures job security to employees

The Reserve Bank of India (RBI)-appointed administrator of the Kolkata-based Srei group met its senior management and assured them that there would not be any job losses during the transition period.

Rajneesh Sharma, the administrator, also said the non-banking financial companies of the group would restart their business soon and focus on loan recovery, sources in the know said. Read more

I will not let Invesco take over Zee illegally, says Subhash Chandra

Founder and Chairman Emeritus of Zee Entertainment Enterprises, Subhash Chandra, on Wednesday made it clear that he will fight the takeover attempt by the US-based fund, Invesco, and will not let it make a “clandestine and illegal” takeover of the company.

“I don’t think this takeover by Invesco will ever happen. Let me tell Invesco, that you want a fight, then I will fight back. But I request Invesco to behave like a shareholder and not like an owner,” Chandra said. Read more

Does India have a case for the upgrade it seeks from rating agencies?

India, which currently has the lowest investment grade, has sought an upgrade from rating agencies. While Moody's Investors Service has obliged by upgrading the outlook on sovereign ratings to stable from positive, it retained the sovereign ratings. As such Moody's action has fallen short of India's expectations. Read more

Centre to revise coal stock norms to avert future crisis

The Centre will redesign norms for coal supply and its storage at thermal power plants to avoid a demand-supply mismatch. The Ministries of Coal and Power have jointly decided to draft a monthly coal supply programme for thermal power units to keep a normative 40-million tonne (mt) stock, cumulatively, at power units by end-March. Read more

27% of unvaccinated Indians not keen on taking the jab: Survey

Within a stone’s throw distance from achieving one billion Covid-19 vaccination doses, a latest survey by Local Circles shows that around 46 per cent of the unvaccinated Indians plan on taking their first dose soon, however, around 27 per cent of unvaccinated citizens do not plan to take the jab yet. Read more