Mumbai: The National Company Law Appellate Tribunal (NCLAT) on Tuesday directed the insolvency resolution professional and committee of creditors (CoC) for Essar Steel Ltd as well as National Company Law Tribunal’s (NCLT) Ahmedabad bench to not pass any order, including an order of liquidation, with respect to Essar Steel’s insolvency.

Shortly after pulling the plug on most hatchbacks in the US and Europe, Ford has announced that they have started working on a new crossover that they will be calling the Mach1. The car is scheduled to be unveiled later next year with a production model scheduled for deliveries as early as 2020. According to reports on Autocar UK the car is scheduled to use the C2 platform that will also underpin the new Ford Focus.

In what can come as a respite as for the flyers, Minister of State for Civil Aviation on Tuesday announced that no cancellation fee will be charged on flight tickets cancelled within 24 hours of booking.

"No cancellation charges will be levied if the tickets are cancelled within 24 hours of booking, provided the ticket is booked 96 hours before flight departure," said Jayant Sinha, Minister of State for Aviation.

With Janata Dal's (Secular) HD Kumaraswamy all set to take oath as the Karnataka Chief Minister on May 23, Congress is likely to have its own MLA as the speaker of the state assembly, according to sources.

The local leaders participating in the negotiations will most likely announce the name by Tuesday evening.

Market regulator the Securities and Exchange Board of India (Sebi) is planning to ease the norms for mutual funds (MF) participation in the derivative markets. According to the sources, the regulator is considering measuring such as, allowing domestic funds to 'write' options and increasing cap on F&O investments. The move is a part of Sebi’s efforts to deepen the Indian derivative markets.

Apollo Hospitals on Tuesday adopted IBM's cognitive computing platform Watson for Oncology and Genomics in 10 of its cancer care hospitals.

These platforms will help physicians provide patients with personalised, evidence-based cancer care.

Mumbai: Rajesh Gopinathan, the CEO of Tata Consultancy Services (TCS), saw his remuneration rise to Rs 12.49 crore in 2017-18.

While Gopinathan received a total pay of Rs 6.22 crore in 2016-17, the numbers are not comparable as he assumed charge as the managing director and CEO of the country's largest IT services firm in February 2017.

Calcutta: Indian Railways will prioritise the loading of coal for supply to thermal power plants till June-end in a bid to address the fast depleting stock at the generating units.

At the request of the power ministry, the railways through a May 18 circular gave a higher priority to power plants, effective from May 19 till June 30, 2018.

Shares of Anil Ambani’s ADAG (Anil Dhirubhai Ambani Group) rallied in the afternoon deals on Tuesday with the share price of telecommunication company Reliance Communications (RCom) gaining nearly 20% after the latter moved to NCLAT to challenge the stay order of NCLT in connection with the settlement with Swedish telecom equipment manufacturer Ericsson. Meanwhile, shares of Reliance Naval and Engineering (RNaval) also jumped more than 17%.

India’s largest car manufacturer Maruti Suzuki India (MSIL) is looking to add 400 vendors to its suppliers’ training programme to enhance quality and production efficiency.

Under this programme, the company will assist 400 tier-1 suppliers on global best practices for training workforce by 2020. MSIL has so far established 90 Dojo centres – state-of-the-art facility for learning – to help vendors achieve greater operational efficiency.

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