 "News digest: Toxic asset auctions, Paradise Papers, Auto sales, and more")
Resale curbs likely in toxic asset auctions
The government is in discussions as to whether it should put in reasonable restrictions for a limited period of time on the successful bidder of a distressed asset so that it cannot transfer or sell the shares of the company back to its promoters or their related parties, holding companies, subsidiaries and associate companies. Read more
Paradise Papers: Task force asks tax dept to send notices to 714 persons
The multi-agency group (MAG), set up by the government a day after the Paradise Papers leak, has asked the income-tax (I-T) department to send notices to the 714 Indians who were named in the list for investments that they made in and routed funds through tax havens. Read more
Nissan initiates arbitration to recover Rs 5,000 crore from govt
Japanese carmaker Nissan has sued the Tamil Nadu government in order to recover around Rs 5,000 crore ($770 million) of promised incentives along with interest charges and damages. Nissan Motor had initiated international arbitration proceedings to this effect after months of talks with the state government did not lead to a resolution, Reuters reported. Read more
Modi has a vision for India, Manmohan laid foundation: Barack Obama
Continuing the famous 'bromance', former US president Barack Obama and Prime Minister Narendra Modi met on Friday. Obama was in New Delhi to attend a few events that are part of a three-country tour he is undertaking in one of his first global outings as a private citizen. Read more
Auto sales grew 14% in November
Maruti Suzuki, Hyundai and Mahindra & Mahindra (M&M) had double-digit growth in automobile sales for November, helping the industry report growth of a little over 14 per cent. Read more
Wipro faces Rs 900-cr lawsuit over ERP implementation
Wipro, India’s third-largest software services firm, on Friday said it would contest the lawsuit filed by National Grid US seeking damages of over Rs 900 crore ($140 million) for a project that began in 2009. Read more
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%