A look at the headlines in this sector right now:
- Submit proof of claims against Tata Sons, court tells Cyrus Mistry’s firms that sued the company: The National Company Law Tribunal also issued a stay order preventing any interim application on the matter to be filed in other courts.
- Free market champions Forbes, Wall Street Journal slam demonetisation, call it ‘sickening and immoral’: Both criticised the Indian government for exercising ‘arbitrary power’ over citizens’ lives.
- Sun Pharma signs deal to acquire oncology drug from Novartis: The $175-million agreement will be brought into effect after requisite approvals from the authorities, including an anti-trust clearance.
- Wipro to pay US Securities and Exchange Commission $5 million to end embezzlement case: ‘The SEC has credited the company’s cooperation and remedial measures in arriving at the settlement,’ a statement by the firm said.
- Nearly 70 lakh did not pay their taxes in 2014-15 despite making big transactions, says I-T Department: The defaulters will have to respond to notices on their dues or face action, an official statement said.
- PayPal in talks to acquire 25% stake in FreeCharge for nearly $200 million, reports Mint: The possible sale will be discussed by the mobile payment firm’s parent company in the first week of January, the report said.
- Reliance Infra sells 4% stake in IEX for Rs 103 crore: The company had invested Rs 1.25 crore for the stake in October, 2007.