'Vindication of my stand,' says Cyrus Mistry after reinstatement : Bulletin: Business Today
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'Vindication of my stand,' says Cyrus Mistry after reinstatement

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December 19, 2019

Donald Trump impeached, Senate trial to decide if he'll continue as President

US President Donald Trump on Wednesday became the third U.S. president to be impeached as the House of Representatives formally charged him with abuse of power and obstruction of Congress in a historic step that will inflame partisan tensions across a deeply divided America. The Democratic-led House's passage of two articles of impeachment on a mostly party-line vote sets the stage for a trial next month in the Republican-controlled Senate - friendlier terrain for Trump - on whether to convict and remove him from office.

A big win for Cyrus Mistry, the ousted chairman of Tata Group

The ousted chairman of Tata group, Cyrus Pallonji Mistry, has been fighting the legal battle against Ratan Tata-led Tata group for the past three years. He lost the battle in the National Company Law Tribunal (NCLT) in July last year. But his perseverance has yielded a positive result as the National Company Law Appellate Tribunal (NCLAT) on Wednesday ordered to reinstate Mistry at the top post of the Tata group. The NCLAT order termed Mistry's removal from Tata Sons and other companies illegal.

'Vindication of my stand,' says Cyrus Mistry after reinstatement as Tata Sons executive chairman

In response to a NCLAT order which reinstated him as the executive chairman of Tata Sons, Cyrus Mistry said it is not a personal victory for him, but a victory for good governance and minority shareholder rights. The appellate tribunal has reinstated Mistry on the Tata Sons board by setting aside an NCLT order dated July 9, 2018. Mistry can be restored as executive chairman after four weeks.

GST Council meet: Tax rates remain unchanged, steps taken to boost compliance

The GST Council refrained from increasing tax rates during its meeting in New Delhi on Wednesday. A committee of secretaries, including officials from Centre and states, made a presentation on ways to augment revenue, but it did not contain any direct or indirect suggestions on rate hike or rate reduction, clarified Finance Minister Nirmala Sitharaman. The GST Council did decide on a uniform rate for lotteries, which will now be taxed at the highest slab of 28 per cent.

Auto dealers approach SC seeking extension of deadline for selling BS IV vehicles

The Federation of Automobile Dealers Associations (FADA) that represents over 25,000 automobile dealers in the country, has knocked on the doors of the Supreme Court for a breather for dealerships on the impending transition from BS IV to BS VI emission norms. On April 1, 2020, India will become the first country in the world to leapfrog from BS IV to BS VI norms. But the Supreme Court ruling in 2018 that no BS IV vehicle can be registered in the country after March 31, 2020, has posed a unique challenge for dealerships to liquidate all stocks by that date.

US wants India to lower its duties, calls it 'maharaja' of tariffs: White House official

The US wants India to lower its duties on American products, White House trade and economic adviser Peter Navarro said on Wednesday, describing India as "the maharaja" of tariffs. Navarro, who heads the White House Office for Trade and Manufacturing Policy, told Fox News in an interview that a study by him has shown that 90 per cent of the time India charges the United States higher tariffs than they charge India. US President Trump has also repeatedly claimed that India is a "tariff king" and imposes "tremendously high" tariffs on American products.

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