The business wrap: Tata Group-Cyrus Mistry row reaches court, and six other top stories
A drop in the stocks of Tata companies pulled Indian markets down, and the Supreme Court directed Vijay Mallya to submit details of his foreign assets.
A look at the headlines in the sector right now:
- Cyrus Mistry denies reports of filing preventive notice against Tatas as company prepares for court: The conglomerate filed caveats with the Supreme Court, Bombay High Court and National Company Law Tribunal.
- Sensex, Nifty end lower as Tata Group stocks drop after Cyrus Mistry's removal: Overall market movement remained negative as 1,446 shares declined while 1,344 rose.
- Supreme Court asks Vijay Mallya to submit details of his foreign assets within four weeks: The bench told the former liquor baron to disclose what he did with $40 million that Diageo Plc had paid him for his shares in United Breweries.
- Centre launches scheme to provide TDS alerts via SMS to 2.5 crore salaried tax payers: The service, inaugurated by Finance Minister Arun Jaitley, will later be expanded to include 4.4 crore non-salaried tax payers.
- SC asks RBI why it opposes declaring names of defaulters who owe Rs 85,000 crore to banks: The central bank argued that the public revelation of the names would breach certain confidentiality clauses in law.
- Embraer will pay $205 million to American and Brazilian authorities to settle corruption charges: It will pay $107 million to the US Justice Department as part of a deferred prosecution agreement and $98 million to the Securities and Exchange Commission.
- Facebook updates censorship rules to allow graphic images and stories it considers 'newsworthy': The social networking site's vice-presidents said it tweaked its policy after receiving feedback from users.
- WhatsApp video calling feature now available on its Android beta app: While users registered on the company's testing programme can access the service, there is no word yet on when it will be rolled out to the broader audience.
