The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.

The leave to appeal to the Supreme Court is on a point of law of general public importance, which according to experts is a very high threshold that is not often met.

The development comes after a recent notification from the Union home ministry, which has permitted companies to resume manufacturing operations and reopening of shops in red, green and orange zones with certain riders.

The Wadia group, which, owns low-cost airline GoAir also drew comparison with other western economies which have provided financial assistance to their airlines for payment of salary and restructuring their operations.

The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.

'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.

A clutch of automakers including Maruti Suzuki, Hero MotoCorp, Mercedes Benz India, Eicher Motors, TVS Motor, and Isuzu Motors India announced they had got the clearance from the governments of the states they operate in to resume operations.

That would reverse the growth trend of around 11 per cent per annum, which the industry has logged over the past ten years, making it one of the most adversely-affected sectors of the economy.

The five southern states source 10-15 per cent of their revenue from excise duty on liquor but account for nearly half of the total consumption, says a report. The financial position of these states is precarious as the coronavirus lockdown completely dried up this crucial liquidity tap for them in April.

Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.