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News highlights of the day: Vedanta wins bid to acquire Electrosteel Steels

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

March 31, 2018 / 20:48 IST
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That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

March 31, 2018 / 20:43 IST

That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

March 31, 2018 / 20:41 IST

AI disinvestment 'potentially another scam' in making, says Subramanian Swamy

BJP leader Subramanian Swamy hit out at the government over the disinvestment of Air India, saying it was ‘potentially another scam in the making’, reports PTI. The former Union minister said he would watch the developments and file a private criminal law complaint, if he found ‘culpability’ in the disinvestment process.

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March 31, 2018 / 20:36 IST

Indian army personnel carry out drills at Kibithu close to the Line of Actual Control in Anjaw district of Arunachal Pradesh. PTI

March 31, 2018 / 20:35 IST

Fast Patrol Vessel (FPV) 'Annie Besant', entirely designed by Garden Reach Shipbuilders & Engineers, during its launch for Indian Coast Guard at Rajabagan Dockyard in Kolkata on Saturday. PTI

March 31, 2018 / 20:34 IST

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March 31, 2018 / 20:33 IST

March 31, 2018 / 20:19 IST

Tesla says autopilot was engaged during fatal crash

Electric car maker Tesla has confirmed the autopilot was engaged during a fatal crash last week, a development set to exacerbate concerns over the safety of autonomous vehicles, reports AFP. A Tesla Model X collided with a highway barrier near the town of Mountain View in California on March 23, catching fire before it was struck by two other cars.

March 31, 2018 / 20:10 IST

Gazans buried their dead with calls for 'revenge' a day after a major demonstration led to clashes that saw Israeli forces kill 16 Palestinians in the bloodiest day since a 2014 war, reports AFP. Meanwhile, Israel said it will target ‘terror organisations’ in Gaza if violence along the territory's border with Israel drags on, the chief military spokesman warned, reports AP.

March 31, 2018 / 19:50 IST

Pakistan arrests 52 Indian fishermen

Pakistani authorities have arrested 52 Indian fishermen for allegedly straying into the country's territorial waters, reports PTI. The latest batch of Indian fishermen was arrested on Thursday night by the Pakistan Maritime Security Forces, an official said. Eight fishing boats were also seized.

March 31, 2018 / 19:34 IST

Vedanta wins bid to acquire Electrosteel Steels

Anil Agarwal group-owned Vedanta said it has won the bid to acquire bankrupt Electrosteel Steels in an insolvency auction."Vedanta hereby informs that it has been declared as the successful resolution applicant by the committee of creditors (CoC) for Electrosteel Steels under the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code, 2016 and has received a Letter of Intent (LoI) today," the company said in a BSE filing.Vedanta said it has accepted the terms of the LoI.

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