Sebi consent method

New Delhi, April 29: Market regulator Sebi will put in place a new and detailed mechanism for its “consent” procedure — an out-of-court-like settlement through which it settles cases of suspected irregularities by listed companies and various market entities. Sebi decided to revise the existing consent procedure after it found lack of uniformity and necessary details in the prevailing system, which is in place since 2007.

Nasscom job

New Delhi, April 29: TCS chief N. Chandrasekaran has been appointed chairman of Nasscom, the association for the $100-billion Indian IT-BPO sector, sources said. He will replace Rajendra S. Pawar. Chandrasekaran was the vice-chairman of Nasscom for 2011-12.

Air fares

New Delhi, April 29: A parliamentary panel has expressed doubts on whether the aviation regulator had taken any step to prevent the “sudden surge” in air fares and asked it to evolve measures to prevent flyers from being “harassed”.

Bank funds

New Delhi, April 29: The finance ministry is likely to finalise a draft bill for setting up holding companies, which will raise resources from the market to meet the capital requirements of public sector banks, by May.

HPCL setback

Hyderabad, April 29: The Andhra Pradesh government has cancelled the land allotted to HPCL for setting up its proposed Rs 45,000-crore petrochemical complex at Visakhapatnam because of delay in executing the project, a government official has said.