News digest: Air India sale, battle for Essar Steel, stock market, and more
From Air India to Statsguru, BS brings you top stories to keep up with the latest news
 "News digest: Air India sale, battle for Essar Steel, stock market, and more")
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Air India's new owner to retain employees on payroll after acquisition
The government is likely to include a clause in the share purchase agreement to ensure Air India employees do not lose jobs immediately after privatisation. Read more here
Sebi board to vet National Stock Exchange colocation probe report
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The Securities and Exchange Board of India (Sebi) has completed its investigation of 20 brokers in the National Stock Exchange (NSE) colocation (colo) controversy. Click here to know more
ArcelorMittal bid divides resolution professional's lawyers on Essar Steel
The legal opinions received by the resolution professional (RP) of Essar Steel from law firm Cyril Amarchand Mangaldas (CAM) and senior counsel Darius Khambata differed on the eligibility of the bids made by ArcelorMittal.
While CAM said ArcelorMittal must pay the dues of the lenders to Uttam Galva Steels and KSS Petron to become eligible for bidding, Khambata was of the opinion that it was not required as long as ArcelorMittal and L N Mittal sold stakes in Uttam Galva and KSS Petron, respectively, and were declassified as promoter. Read more here
Turnaround: By shutting local sales, GM's India unit shrinks to grow
American auto major General Motors’ (GM) India unit is now leaner and fitter after more than two decades of loss-making operations.
Having shut down the local sales business in India last year in May, the carmaker is now inching closer to a profitable operation, driven exclusively by exports. The company is already said to have made some profit in the current financial year. Click here to know more
Statsguru: Indian markets under pressure amid mounting trade war fears
On Friday, the Indian markets came under pressure amid a sell-off in global equities with investors increasingly worried about escalating trade tensions between the US and China. Read more here
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