The National Company Law Appellate Tribunal’s (NCLAT) decision in the Mistry vs Tata Sons case is a big victory for Cyrus Mistry.

His plaint about being oppressed has been upheld; the proceedings of the board meeting on October 24, 2016 in so for as it relates to his removal as Executive Chairman of Tata Sons has been held as illegal; he has been restored to his original position as Executive Chairman.

The Karnataka government on Wednesday banned large gatherings of people in parts of the state including capital Bengaluru ahead of a protest call by various groups against Citizenship Amendment Act on Thursday.

A 'bandh' has been reportedly called by a consortium of Left-wing and Muslim organisations in Karnataka on Thursday. Various groups across India have called for a nationwide protest on December 19.

Delhi Chief Minister Arvind Kejriwal on Wednesday raised the issue of providing jobs to immigrants from neighbouring nations, who will be given citizenship under the newly amended law, when there is not enough employment for Indians in the country. Speaking at the News18 India Chaupal, Kejriwal criticised the Citizenship (Amendment) Act and questioned the legislation’s timing, saying the country was “reeling” under economic slowdown and price rise.

West Bengal was peaceful with no fresh incident of violence over the new citizenship law reported so far on Thursday, police said.

However, stray incidents of clashes between groups supporting the amended Citizenship Act and those opposing it were reported on Wednesday.

The Delhi Police, in a statement, declared that permission has not been granted for the protest demonstrations against the contentious Citizenship (Amendment) Bill scheduled to take place in the national capital on Thursday.

Two major protest marches are in sight for Thursday. The first one, that has been called by several Left parties, is supposed to march from Mandi House to Jantar Mantar at 12 PM.

Shares of Tata Group companies were trading mixed in the early trade on Thursday, a day after National Company Law Appellate Tribunal (NCLAT) reinstated Cyrus Mistry as the executive chairman of the Tata group. The 172-page order, while upholding Mistry’s charges that he was ousted without due process, said the action taken by Ratan Tata and others against the former Tata Sons chairman was oppressive and illegal.

At 09:47 am, shares of Tata Global Beverages were trading over 0.5 per cent lower at Rs 310 apiece on the BSE while Tata Steel was trading over a per cent lower at Rs 439.35.

Government-owned Bank of Baroda has reported a Rs 5,250-crore divergence in the calculation of bad loans for the 2018-19 financial year.

The Reserve Bank of India's (RBI's) assessment of its gross non-performing assets (NPAs) for the year is Rs 75,174 crore. Against this, the bank had reported GNPAs of Rs 69,924 crore, it told the BSE exchange. All figures are for the recently amalgamated entity, wherein Vijaya Bank and Dena Bank were merged with BoB.

Shares of NMDC hit a fresh 52-week high in otherwise subdued market, up 3 per cent at Rs 123 on the BSE on Thursday, after the state-owned company announced that the Indian Bureau of Mines (IBM) approved its mining plan to enhance the production of iron ore from Kumaraswamy iron ore mines in the state of Karnataka.

A Supreme Court Bench, comprising Chief Justice of India (CJI) Sharad Arvind Bobde and Justices BR Gavai and Surya Kant, has refused to stay the implementation of the Citizenship (Amendment) Act, 2019, adding that the top court will hear the petitions on January 22.

The SC on Wednesday issued a notice to the central government regarding the petitions challenging the controversial Citizenship Act.

Shares of Bandhan Bank continued to reel under pressure, falling for the fourth consecutive day, on the BSE on Wednesday. The stock declined 5 per cent at Rs 457 in the intra-day trade today.

The stock of the private sector lender was down 21 per cent thus far in the month of December. In comparison, the S&P BSE Sensex was up 1.5 per cent. It was trading at its lowest level since September 20, 2019.

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