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The arbitration tribunal awarded the case in favour of Reliance Infrastructure and directed DVC to pay Rs 896 crore and return the bank guarantees of Rs 354 crore within four weeks or pay additional interest, at the rate of 15 per cent per annum, for any delay in payment beyond four weeks.
Reliance Infrastructure wins Rs 1,250 cr arbitration award against DVC
23 Dec 2019 11:25 AM

The proceeds will be used to pay lenders and reduce the debt of the company, Reliance Infrastructure said in a filing to BSE.

In a statement, Mahindra and Mahindra said Pawan Kumar Goenka has been re-appointed the managing director with additional responsibilities of chief executive officer (CEO) for a year, effective 1 April, 2020.
Mahindra announces succession plan, Anand Mahindra to become non-exec chairman
20 Dec 2019 3:26 PM

Anish Shah will transition to become Managing Director and CEO on April 2, 2021, replacing Goenka, who will retire after his term ends.

The proposal of the Company to appoint Hon'ble Justice T S Thakur (Retd) as Head of Investigation to monitor the ongoing forensic investigation commenced by the company was accepted by Justice Thakur (Retd), CG Power said in a regulatory filing. (Photo: File | PTI)
Fraud-hit CG Power appoints former CJI T S Thakur as head of investigation
20 Dec 2019 11:10 AM

The forensic investigation will be greatly benefited from the oversight, guidance and opinion of Justice Thakur," the filing said.

We direct the committee of creditors to take a decision to float expression of interest (EoIs). We direct them to expedite the process, the Mumbai bench of the National Company Law Tribunal (NCLT) said. (Photo: Representational/PTI)
Expedite decision on fresh EOIs: NCLT to Jet Airways lenders
19 Dec 2019 7:23 PM

The resolution professional (RP) Ashish Chawcharia requested three weeks time to float the EoI.

Airtel mobile broadband services in Karnataka will now be available to customers on its high speed 4G network along with HD quality VOLTE calling, it said in a statement.
Airtel shuts down 3G network in Karnataka, shifts customers to 4G
19 Dec 2019 3:07 PM

Airtel added that it will continue to provide 2G network services in Karnataka to serve the connectivity needs of customers.

Once the suspension orders are lifted, our services will be fully up and running," an Airtel customer care executive said.
Airtel, Vodafone Idea, Jio suspend voice, SMS in parts of Delhi on govt order
19 Dec 2019 12:45 PM

Internet was shut at ITO, one of the busiest areas of the capital housing media offices.

Various group scrips had fallen up to 4 per cent in the previous trade after the order.
Tata Group stocks remain under pressure after NCLAT order
19 Dec 2019 10:47 AM

The scrip of Tata Global Beverages fell 0.89 per cent, Indian Hotels Company slipped 0.62 per cent.

In 2017, Infosys had agreed to pay the State of New York USD 1 million to settle allegations of submitting wrong documents to federal authorities.
Infosys to pay USD 800,000 to settle case with California Attorney General
19 Dec 2019 10:19 AM

In the settlement, Infosys denied the allegations and asserted of no wrongdoings.

Infosys will pay California USD 800,000 to resolve allegations that, between 2006 and 2017, approximately 500 Infosys employees were working in the state on Infosys-sponsored B-1 visas rather than H-1B visas, California Attorney General Xavier Becerra said. (Photo: File)
Infosys to pay USD 800,000 to settle case with California Attorney General
18 Dec 2019 4:44 PM

Fine will be paid to settle allegations of misclassification of foreign workers and tax fraud, officials said.

Cyrus Mistry, a scion of wealthy Shapoorji Pallonji family, was in a coup removed as Chairman of Tata Sons in October 2016. (Photo: File)
NCLAT restores Cyrus Mistry as Tata Sons Chairman
18 Dec 2019 3:32 PM

The NCLAT however stayed the operation of the order with respect to reinstatement for four weeks to allow Tatas to appeal.

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