The business wrap: Sebi seeks action against 331 suspected shell companies, and 7 other top stories
Other headlines: Indian shares suffered losses because of the regulator’s move, and the Congress claimed that the RBI had printed two types of Rs 500 notes.
A look at the headlines in the sector right now:
- Sebi asks stock exchanges to take action against 331 suspected shell companies: The market regulator said the firms would be subjected to independent audits, and their financial information may be examined to provide evidence in court.
- Sensex plunges 260 points, Nifty ends below 10,000 after Sebi seeks action against shell companies: Tata Steel’s better-than-expected first quarter earnings had helped both indices open higher.
- Congress says the RBI printed different types of Rs 500 notes, calls it biggest scam of the century: Finance Minister Arun Jaitley first accused the party of making irresponsible statements, but then said he would verify the authenticity of the notes.
- Netflix makes its first acquisition – comic book publisher Millarworld: The streaming giant will create original movies and shows from the comics.
- Bank staff who cannot learn Kannada in six months should be sacked, says Karnataka Development Authority: The organisation said many rural customers had been affected as the employees had refused to speak in Kannada.
- Google fires software engineer who wrote sexist memo on diversity: CEO Sundar Pichai said it was offensive to suggest that some employees have traits that make them less biologically suited for work.
- Bajaj Auto and UK’s Triumph Motorcycles announce global partnership: The shares of the Indian bikemaker jumped over 3% in the morning trade following the tie-up.
- Merger of Sahara Life and ICICI Prudential justified, insurance regulator tells Securities Appellate: Sahara had claimed that the unification of the two insurance companies did not follow the principles of natural justice.
