The court also considered other evidence including details of the companies involved, loans given by the bank.
In April, India’s largest refiner IOC signed a major term contract with Russian oil major Rosneft. Although IOC did not disclose the supply volume under the contract, a Reuters report said that it was close to 1.5 million tonnes a month.
From being a marginal supplier of crude oil to India before the war in Ukraine, Russia is now New Delhi’s largest source of crude, having displaced traditional heavyweights like Iraq and Saudi Arabia.
In the domestic equity market, the 30-share BSE Sensex was trading 20.84 points or 0.03 per cent lower at 69,530.19 points. The broader NSE Nifty inched up 5.15 points or 0.02 per cent at 20,911.55 points.
Dr Reddy’s Laboratories on Friday reported a 33.02 per cent increase in consolidated profit after tax at Rs 1,482.2 crore in the second quarter ended September 30, led by the US generics market.
The tenure of Dinesh Khara has been extended until he attains the age of 63 next year, a report said.
The country is a net exporter of petroleum products thanks to its refining capacity of 250 million tonnes per annum, or around 5 million bpd, which is higher than its domestic demand.
At trade meet, India seeks more pharma inspections & easier visas, US flags laptop import monitoring
Union Commerce Minister Piyush Goyal highlighted challenges faced by business visitors from India to the US due to visa processing time periods and requested the US to augment the processing.
The closures are part of India-owned Tata Steel’s plan to turn around its loss-making UK steelmaking business by switching to lower carbon electric arc furnaces, a proposal backed by 500 million pounds ($634.10 million) of government money.
Even as the government wants to reduce India’s high dependency on imported crude oil, sluggish domestic oil output in the face of steady growth in domestic demand has led to reliance on imports rising over the years.