quick reads

The business wrap: Cyrus Mistry’s firms asked to submit proof against Tatas, and 6 other top stories

In other headlines: Forbes and Wall Street Journal criticise demonetisation, and Sun Pharma signed a $175-million deal to acquire oncology drug from Novartis.

A look at the headlines in this sector right now:

  1. 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.
  2. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
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This article was produced by the Scroll marketing team on behalf of SBI Life and not by the Scroll editorial team.