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BusinessToday.In
New Delhi, July 16, 2018
Ever since the abrupt removal of Cyrus Mistry as the Chairman of Tata Sons group, there has been a battle brewing between Tata Group and Cyrus Mistry. On July 9, a special bench of the NCLT, Mumbai, dismissed all the petitions filed by Mistry and his family-run firms alleging oppression of minority shareholders and mismanagement by the board. Watch this video on the boardroom battle between Rata Tata and  Cyrus Mistry.


Mail Today Bureau
July 14, 2018
Infosys on Friday posted a lower-than-expected 3.7 per cent rise in net profit for the quarter ended on June 30, 2018, due to a one-off charge related to fair value reduction of Panaya business.


BusinessToday.In
New Delhi, July 13, 2018
On July 9, the NCLT had dismissed all petitions filed by Mistry and his family-run firms after a four-month long hearing. The 368-page court order, interestingly, included an instance where Tata Motors missed out on a major order nearly three years back.


Virendrasingh Ghunawat
July 13, 2018
An executive chairman does not enjoy a free hand and cannot assume that majority shareholders and the board would be at his beck and call, the NCLT order said.


PB Jayakumar
New Delhi, July 12, 2018
India's target is to achieve 175 gigawatt (GW) of renewable energy by 2022 and rooftop applications are supposed to contribute 40 GW of the total 100 GW of targeted solar capacity.


Joe C Mathew
New Delhi, July 12, 2018
The report says despite all its achievements, Indian agriculture is still grappling with challenges like high monsoon dependency, unpredictable weather patterns, reduction in arable land, low per hectare yield, lower farmer incomes, etc.


BusinessToday.In
New Delhi, July 12, 2018
TCS saw its digital revenue jump up 44.8 per cent year-on-year in the quarter ended June, and it currently accounts for around 25 per cent of revenue.


PB Jayakumar
July 11, 2018
AM Naik, Group Chairman of engineering major Larsen & Toubro (L&T), has joined hands with the Tata Trusts to set up a specialty cancer hospital at Navsari in Gujarat.


BusinessToday.In
New Delhi, July 10, 2018
With the NCLT on Monday rejecting Cyrus Mistry's allegations of lapses in governance on part of the Tata Group in dealings with Aircel, Sivasankaran has reportedly bucked up and is planning a counter-attack.


PTI
July 10, 2018
Deepak Parekh-led financial services conglomerate HDFC group today saw the market capitalisation of its listed firms cross Rs 10 lakh crore mark, making it only the second Indian business house after Tatas to achieve this feat.


BusinessToday.In
New Delhi, July 10, 2018
Tata Motors Limited, subsidiary of the Tata Group, has come out with a range of discounts and exchange offers on its best-selling cars this monsoon season. Customers who buy the Tigor, Nano, Hexa, Safari Storme, and Zest can benefit by availing the first year's insurance at just Rs.1.


BusinessToday.In
July 10, 2018
NCLT bench members B S V Prakash Kumar and V Nallasenapathy said that Mistry was ousted as chairman because the Tata Sons' Board and its majority shareholders had lost confidence in him.


BusinessToday.in
New Delhi, July 9, 2018
In a major setback to Cyrus Mistry, the Mumbai bench of National Company Law Tribunal (NCLT) dismissed his petition against Tata Group with respect to his removal as Tata Sons chairman and observed that Mistry's conduct does not augur well for smooth functioning of Tata Sons. Watch BusinessToday.In Editor Rajeev Dubey discuss the nitty-gritty surrounding the allegations levelled by Cyrus Mistry against the Tata Group.


BusinessToday.in
New Delhi, July 9, 2018
It seems like it might be the end of the road for Tata Motors' small car Nano. The car was a brainchild of former group chairman Ratan Tata. Tata Motors produced only one unit of its Nano car model in June. The entry-level car sold only three units last month domestically and exported none. Watch BusinessToday.In video to know more about the 'world's cheapest car'.


Nevin John
July 9, 2018
NCLT on Monday said Cyrus Mistry's petition against his removal as Tata Sons' chairman two years ago has no merit.


BusinessToday.In
July 9, 2018
The brokerage in a note said, \"Voltas currently trades at 23 times FY20E earnings per share. The stock presents an appealing opportunity to add to positions as we expect it to bounce back while we cut estimates and target price (-8.6%), still see 22% upside from current levels (target price Rs 640)\".


BusinessToday.in
New Delhi, July 9, 2018
NCLT to pronounce verdict in Ratan Tata-Cyrus Mistry caseThe National Company Law Tribunal (NCLT) will pronounce its judgement on a petition filed by Cyrus Mistry challenging his dismissal as chairman of the Tata Sons. The Board of Tata Sons had abruptly removed Mistry as its chairman on October 24, 2016 and sought his ouster from other group companies. He subsequently resigned from the board of six firms, but dragged Tata Sons and his then interim successor Ratan Tata to the NCLT.PNB's big wilful defaulters' dues fall to Rs 15,354 crore in JunePunjab National Bank's data shows that dues from big wilful defaulters of Punjab National Bank fell by 0.87 per cent to Rs 15,354.52 crore on June 30 compared to previous month. The data on big wilful defaulters is pertaining to those borrowers who took loan of Rs 25 lakh and above from the public sector lender. Such borrowers had an outstanding loan worth Rs 15,490 crore at the end of May 2018. For financial year ended March 2018, the bank's balance sheet had closed with big wilful defaults owing Rs 15,171.91 crore to the bank.Vijay Mallya shrugs off threat of British asset seizuresEmbattled tycoon Vijay Mallya said he will comply fully with court enforcement officers seeking to seize his British assets, but there was not much for them to take as his family's lavish residences were not in his name. The 62-year-old former liquor baron faces charges of fraud in India as a group of banks seek to recover more than $1 billion of loans granted to his defunct Kingfisher Airlines. A verdict is expected by early September.Ministerial group to recommend deferring sops for digital payments under GSTThe Sushil Modi-led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of doling out concessional tax rate. The panel, in its meeting, decided to wait for stabilisation of revenues under Goods and Services Tax and the new return filing systems in the current fiscal before considering differential GST rates for people making payments using the digital mode.GST Council may approve annual returns form on July 21; experts expect reconciliation with ITRThe format for annual returns and audit is likely to be approved by the GST Council in its meeting on July 21 and industry expects that there could be some reconciliation with annual IT returns as the government aims to check tax evasion. Goods and Services Tax (GST) was rolled out on July 1, 2017, and this is the first year when businesses will have to file annual returns (GSTR-9) for 2017-18 fiscal by December 31, 2018.Rupee may fall to 70/dollar mark this week, say bankersContinued strengthening of the US dollar, lack of foreign investment inflows and concerns over rising oil prices are likely to keep the rupee under pressure and push it down to the 70 mark this week, said bankers. They added 69.30 remains a crucial level for the domestic currency, which if breached, could further plumb down to the 70 mark against the dollar. The Reserve Bank of India (RBI), however, will not be comfortable with the currency touching 70 and would strongly defend the same, according to them.


BusinessToday.In
July 9, 2018
The NCLT's judgement was based on a petition filed by Cyrus Mistry challenging his dismissal as chairman of the Tata Sons. The Board of Tata Sons had abruptly removed Mistry as its chairman on October 24, 2016.


BusinessToday.In
July 5, 2018
The stock opened with a loss of 2.07%. It has been falling for the last three days and lost 6.08% during the period. The stock which closed at 887.40 level yesterday fell 5.74% intra day to 836.40 level in today's trade.


BusinessToday.in
New Delhi, July 5, 2018
Arun Jaitley calls for amendments in graft law, says it's anarchic and hurts decision makingUnion Minister Arun Jaitley on Tuesday called for amendments in the Prevention of Corruption Act -- a graft law that the Minister described as anarchic and one of the most badly drafted pieces of legislations. His statement came weeks after the Pune police on June 21 arrested the entire top management of the state-run Bank of Maharashtra for a loan of Rs 94.5 crore to the scam-tainted developer DSK Group allegedly in violation of its lending rules. Coming down heavily on the Pune Police for the arrest, the Minister said that nobody should overlook the federal structure of the nation. Jaitley further said that if the country wants an effective decision making process, it needs to put this entire relationship between investigation, who to investigate, when to investigate, what constitutes a crime, really in its place.NCLT verdict in Tata-Mistry case to be pronounced on July 9The Mumbai bench of NCLT (National Company Law Tribunal) on Wednesday deferred its judgement on ousted Tata Sons chairman Cyrus Mistry's petitions against the Tata Group. The NCLT order in the Tata-Mistry case will now be pronounced on July 9 at 10:30 am. Ahead of the verdict, Mistry had filed fresh salvo at Tata Sons management. The former chairman questioned the rationale behind some actions like the free sale of its telecom arm to Airtel, and massive debt-driven acquisitions by Tata Steel. Mistry has sought accountability and information from the board of Tata Sons in which his family owns 18.34 per cent.MSP hike draws mixed reaction from agri-experts, farm bodies  Agri experts and farm bodies today said the hike in the minimum support price (MSP) of 2018-19 kharif crops would lead to inflation, widen fiscal deficit and hit badly the export of commodities like cotton, while others felt the raise in support price was insufficient. In absolute numbers, the paddy MSP hike by Rs 200/quintal to Rs 1,750 for this year is a record but not in percentage terms, said agriculture expert Ashok Gulati . Gulati cautioned that the sharp rise in cotton and rice MSP will hit exports badly and lead to increase in government procurement. Merkel warns Trump against trade war  German Chancellor Angela Merkel today warned US President Donald Trump against unleashing an all-out trade war after he threatened to impose steep tariffs on cars from the European Union. Merkel said both sides were effectively locked in a \"trade conflict\" since Trump's decision to slap punitive tariffs on steel and aluminium imports. \"It is worthwhile to prevent this conflict from becoming a real war,\" she said. Trump charged that Europe is \"possibly as bad as China\" on trade, as he reiterated that he is mulling import taxes of 20 percent on EU cars. The EU has slapped tariffs on iconic US products including bourbon, jeans and Harley-Davidson motorcycles, as a symbolic tit-for-tat response to the metals duties.FM to meet heads of banks today to discuss NPA resolution structure  Finance Minister Piyush Goyal will meet heads of banks today to discuss an inter-lender structure suggested under the 'Project Sashakat' that intends to fastrack resolution of stressed assets in the banking system. The meeting is likely to formalise the inter-creditor agreement structure as suggested in the five-pronged 'Project Sashakat', sources said. The meeting has been organised by Indian Banks Association (IBA) and inter creditor agreement would be the framework under which the consortium would take up NPA cases.SBI Card launches AI powered virtual assistant ELA  SBI Card, the country's second largest credit card issuer, today announced the launch of 'ELA' (Electronic Live Assistant), a virtual assistant for customer support and services. Driven by Artificial Intelligence and Machine Learning, ELA is designed to enhance customer experience by providing relevant and instant responses to customer queries, SBI Card said. Customers can communicate with ELA in conversational language, enabling easy interface along with prompt query resolution, SBI Card managing director Hardayal Prasad said. The virtual assistant is currently hosted on the SBI Card website and will soon be integrated on the mobile app as well.


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