SC chokes BCCI fund flow to state bodies

The Supreme Court on Friday curbed the financial powers of the Board of Control of
Cricket in India (BCCI) for not complying with the Lodha panels recommendations.
The Supreme Court ruled that all transactions between the BCCI and state cricket
bodies would be frozen until they implemented the panels recommendations.

HCL Tech changes CEO hours before Q2 results

Hours before it announced its second quarters results, HCL Technologies on Friday
announced that it has a new chief executive officer. The company said its CEO
Anant Gupta has resigned and will be replaced by C Vijayakumar who was the chief
operating officer (COO). On this part, Gupta took little time to announce the launch
of Techclex, a business acceleration and technology investment firm focused on
developing digital products and platforms for enterprises.

AT&T in merger talk with Time Warner

Senior executive at AT&T and Time Warner have meet in recent weeks to discuss
various business strategies including a possible merger, according to people familiar
with the matter. The talks, which are informal at the stage, are said to have focused
on building relations between the firms rather than establishing the terms of a
specific transaction.

Trai recommends Rs. 3K cr penalty on incumbents

The Telecom Regulatory Authority of India (TRAI) has asked the department of
Telecom to impose a penalty of about Rs. 3000 crore on incumbent operators on
failing to provide adequate interconnections to Reliance Jio.