State Bank of India (SBI) has taken 1,200-Mw Jindal India Thermal Power project in Odisha to the National Company Law Tribunal (NCLT) for insolvency proceedings as stake sale failed.

The 180-day deadline to find a resolution also ended last week. The operational project, which landed in soup because of cancellation of coal block, has been operating at below optimum level.

The National Company Law and Appellate Tribunal (NCLAT) in New Delhi will on Friday give its verdict over the petitions filed by ArcelorMittal and Numetal in the Essar Steel insolvency case.

The companies had filed petitions challenging the decision by Essar Steel’s resolution professional to bar both from bidding the stressed firm.

Johnson & Johnson (J&J) is learnt to have agreed to pay compensation to patients who received faulty hip implants years ago. This comes after the regulator — Central Drugs Standard Control Organisation — asked the medical device maker to pay Rs 2 million as interim compensation to the recipients of such implants, as recommended by a committee appointed by the government. Last month, the government asked states to form separate committees to evaluate claims.

Known for coming up with easy-to-remember names for numerous schemes and applications that he unveils, Union Railway Minister Piyush Goyal on Thursday asked his department to come up with a new “catchy” name for IRCTC (Indian Railway Catering and Tourism Corporation).

The minister said that even he finds it difficult to remember it sometimes and would be better to have a name that is easy to remember while browsing the internet.

Shares of Bajaj Auto were up by 3% at Rs 2,875 per share on the BSE in an otherwise weak market after the company announced its plan to expand 3 wheelers & quadricycle capacity to 1 million per year as Government announced an end to permits.

At the Society of Indian Automobile Manufacturers (SIAM) convention on Thursday, the Minister for Transport,

India's second-largest software services exporter Infosys Ltd said on Friday it formed a joint venture with Singapore state investor Temasek as it expands its presence in Southeast Asia.

Temasek looks to enhance its IT services through the venture in which Infosys will hold a 60 per cent stake and Temasek 40 per cent, Infosys said in a statement.

To help researchers and academia build Indian language speech recognition for all applications where speech is used, Microsoft India on Thursday launched its Indian language “Speech Corpus”, offering speech training and test data for Telugu, Tamil and Gujarati. This is the largest publicly available Indian language speech dataset which includes audio and corresponding transcripts, Microsoft said in a statement.

Shares of Wipro were up for the seventh straight day, rising to Rs 322, up 1% on the BSE.

In past three trading days, the stock has risen 4% after the information technology (IT) services firm on Sunday announced that it has won its largest contract to date from US-based human resources (HR) and financial solutions company Alight Solutions LLC. The stock hit a high of Rs 328 during intra-day trade on Monday, September 3, 2018.

The Indian Space Research Organisation (Isro) wants private industry to take over responsibilities of developing and manufacturing small rockets, PSLV rockets and satellites from 2020. In the next three years, the industry is expected to get orders worth Rs 90 billion.

Speaking at the World Space Biz, organised by CII and Antrix Corporation, K Sivan, chairman, Isro said the space agency will now be mostly occupied with the manned space mission, which has to be launched within four years.

Nearly nine months before its term was to end, the Telangana Assembly was on Thursday dissolved by the Governor on a recommendation by the state cabinet.

Governor E.S.L. Narasimhan accepted a resolution of the cabinet recommending dissolution of the Assembly. He asked Chief Minister K. Chandrasekhar Rao and his Council of Ministers to continue in office as caretaker Government.

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