Top headlines: SC appoints Pegasus probe, Delhi summons Facebook execs

The Supreme Court ordered a panel of experts to investigate whether the government used the Pegasus spyware to surveil opposition leaders, activists, tycoons, judges and journalists.

The Supreme Court on Wednesday appointed a three-member committee to probe if the government use the Israeli spyware  software Pegasus to surveil its poltical rivals and critics. Maruti Suzuki India Ltd posted a 65.3 per cent plunge in second-quarter net profit. More on those stories in our top headlines.

'State cannot get free pass': SC appoints Pegasus probe committee

The Supreme Court on Wednesday appointed a three-member panel of cyber experts to probe the alleged use of Israeli spyware Pegasus for surveillance of certain people in India, saying every citizen needs protection against privacy violation and mere invocation of “national security by State” does not render the court a “mute spectator”. Read more
 

Maruti Suzuki Q2 profit falls 65% YoY to Rs 475 crore

India’s biggest domestic car manufacturer Maruti Suzuki India reported a 65.3 per cent year-on-year (YoY) decline in net profit at Rs 475.3 crore for the July to September quarter of FY22 (Q2FY22). It was Rs 1,371.6 crore in Q2FY21.

On a sequential basis, the profit rose 7.8 per cent from Rs 440.8 crore. Read more
 

Delhi Assembly summons Facebook again 

The Committee on Peace and Harmony of Delhi Assembly has summoned Facebook to appear before it on November 2 for evidence and suggestions to prevent communal disturbances like the 2020 Delhi riots. The summons says that it is a continuation of its notice sent to Facebook in February and refers to the Supreme Court’s verdict on the matter in July. Read more

Long-only funds outperformed long-short strategies in September

Long-only alternative investment funds (AIF) strategies outperformed long-short funds in September. The former gave average category returns of 3.7 per cent compared with 1.5 per cent by the latter, shows data from PMS Bazaar. Read more

Swiss Re to invest Rs 920 cr for 23% stake in Paytm's insurance unit

Financial services firm Paytm said today that its associate, Paytm Insuretech Private Limited (PIT), has entered into a strategic partnership with Swiss Re, one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer. Read more