Mumbai: The National Company Law Tribunal has asked Cyrus Mistry to file a rejoinder within seven days in the petition filed by his family-controlled firms against Tata Sons Ltd. The tribunal has asked Mistry to prove his allegations against the Tatas with material facts.The next hearing is on 31 January.

Mistry has been specifically asked to file a rejoinder and the tribunal noted that Mistry seems to be “sailing along with the petition”.

The Indian Railways on Wednesday launched a Train Protection and Warning System (TPWS) provided by French firm Thales on the 68-km-long Basin Bridge-Arakkonam section in southern India, said a Thales official. The TPWS-equipped section was inaugurated by Akhil Agrawal, Director General (Signal & Telecommunication), Railway Board, at Ambattur station, Chennai, a press release from the company said.

Global technology major Thales’ European Train Control System (ETCS) Level 1 solution is known in India as TPWS.

A consortium of lenders led by State Bank of India (SBI) plans to sell a plant of ANG Industries for at least R17.49 crore and has mandated SBI Capital Markets (SBI CAPS) to look for a buyer, a bid document showed.

“SBI Capital Markets Limited (SBICAP) has been mandated by SBI on behalf of consortium of lenders, to identify an interested bidder (“IB”) for sale of a plant ANG Industries Ltd situated at address 19-A, Udyog Vihar, Greater Noida, Uttar Pradesh , under a slump sale method,” it said.

Stock markets upheld their negative tone for the seventh consecutive session and shed nearly a percent on Thursday. Feeble cues from Asian markets were weighing on sentiments in early trade, which further deteriorated with a slide in select index majors as the day progressed.

Besides, participants were maintaining cautious approach ahead of the beginning of the two-day GST Council meet. Most sectoral indices ended lower in line with benchmark, wherein metal and PSU banks lost the maximum. The Nifty eventually closed with a cut of a percent at 7979.

The re-auction of embattled businessman Vijay Mallya's Goa property, Kingfisher Villa, yet again turned out to be a damp squib on Thursday despite a reduction in reserve price by 5% to Rs 81 crore by lenders. This is the second failed attempt by the 17-lender consortium this week to recover its dues of over Rs 9,000 crore from Mallya by selling his prime assets.

On Monday, the lenders failed to get any buyer for Kingfisher House in the city, when it was put under auction for the third time. "There was hope that Villa could get some buyer this time, but unfortunately, none of the bidders came forward. The auction failed this time as well," a source said.

Moody's Investors Service on Thursday said that Reliance Communications' ratings will "remain on review for downgrade" despite the company signing an agreement with Canada-based Brookfield Infrastructure to sell its tower assets.

Reliance Communications' (RCom's) "B1 corporate family and senior secured ratings remain on review for downgrade despite signing a binding agreement with Brookfield Infrastructure (unrated) in relation to the sale of RCom's tower assets," a Moody's statement said.

Apple Inc is discussing with the Indian government the possibility of manufacturing its products in the country, according to two senior government officials, as the company seeks to grow its sales and presence in the South Asian nation.

In a letter to the government last month, the firm outlined its plans and sought financial incentives to move ahead, the officials told The Wall Street Journal. Senior trade ministry authorities in recent weeks met to discuss the matter. An Apple spokesperson didn’t respond to requests for comment.

In order to encourage digital transactions, the Finance Ministry today asked PSU banks to restrict fees on payments through IMPS and UPI to the extent that is applicable for NEFT fund transfer of over Rs 1,000. As per RBI norms, NEFT transfers of up to Rs 10,000 attract Rs 2.5 fee. From Rs 10,000-1 lakh the fee is Rs 5; on Rs 1-2 lakh it is Rs 15, and beyond Rs 2 lakh it is Rs 25. Service tax is charged in addition to this.

Three senior bureaucrats, including Economic Affairs Secretary Shaktikanta Das, are believed to be in contention for the post of capital market regulator Sebi chairman after the extended tenure of incumbent U K Sinha ends early next year.

The process for choosing the next chief of the Securities and Exchange Board of India (Sebi) started in September and the government has received many applications. The current tenure of Sinha, who has been at the helm of the watchdog since February 2011, ends on March 1 next year.

The Nifty settled marginally lower in a dull trading session on Wednesday, in the absence of any major cue. After a flat start, it hovered in a narrow range till late, but a slide in the last one hour of the trade pushed it into negative territory. The Nifty finally closed 21.10 points lower at 8,061. Most sectoral indices also followed suit and closed on a flat note.

Market experts said that the boredom continues in the market for the fifth consecutive session as the participation from strong hands seems missing towards the fag end of the calendar year.

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