 "News digest: Stimulus package buzz, Tata Sons to go private, and more")
Stimulus package funding: Govt weighs fiscal push for growth
The government is considering increased spending in order to revive the economy and is open to allowing the fiscal deficit to widen beyond its target for the year. A stimulus package in the range of Rs 40,000-50,000 crore is being discussed in the government, though these figures could not be immediately confirmed. Read More
Tata Sons' shareholders vote for going private
Tata Sons’ shareholders have voted in favour of going private, overruling objections raised by the Mistry family. “All resolutions placed before the annual general meeting were passed with a requisite majority,” a Tata Sons source said. Read More
IPOs of IRCTC, IRFC may be deferred
The listing of two public sector undertakings under the Railways Ministry — Indian Railway Finance Corporation (IRFC) and Indian Railway Catering and Tourism Corporation (IRCTC) — may get delayed, as the government now wants to sort out the financial issues facing the companies. Officials close to the developments said that new railways minister, Piyush Goyal, wanted to resolve these issues in order to get a better valuation before going for listing. Read More
Sebi allows bourses to conduct forensic audit
The Securities and Exchange Board of India (Sebi) has empowered stock exchanges to conduct forensic audits on listed companies which seem dubious, being suspected of use as conduits for illicit fund flow. An authorisation letter in this regard has been issued to the bourses. The latter may take action in this regard on their own initiative. Sources say this is a sequel to the discussion between Sebi's surveillance department and the exchanges, on ways to curb such manipulation. Read More
NCLAT grants waiver to Mistry on plea against Tata Sons
The National Company Law Appellate Tribunal (NCLAT) on Thursday allowed Cyrus Investments Private Limited and Sterling Investments Private Limited a waiver to pursue their case of oppression and mismanagement against multinational conglomerate Tata Sons. Read More
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