Sun, Jul 23, 2017 | updated 10:43 PM IST

Tata Steel responds to BSE, NSE on 18-billion dollar 'write-down'

Updated: Oct 27, 2016 10:52 IST      
Tata Steel responds to BSE, NSE on 18-billion dollar 'write-down'

Mumbai (Maharashtra) [India], Oct. 27 (ANI): With the Bombay Stock Exchange (BSE) and National Stock Exchange ( NSE) seeking clarification from various listed companies of Tata Group about purported disclosure by ousted chairman Cyrus Mistry about 18-billion dollar possible write-down at these firms, Tata Steel Limited on Thursday said it is a listed entity and prepares its financial statements in accordance with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

In a statement issued here, Tata Steel Limited Company Secretary Parvatheesam K said, "The financial statements of the Company are prepared on a going concern basis and present a true and fair view of the state of affairs of the Company. As part of the preparation of financial statements, the value-in-use of the assets of the Company is tested for impairment as per the Accounting Standards."

"The financial statements are considered by our Audit Committee and the Board of Directors of the Company. The Company, in compliance with the SEBI Listing Regulations, disseminates the quarterly financial results to the stock exchanges and to the wider stakeholders," said the Company Secretary, adding that accordingly, the Company has currently nothing further to comment or disclose with respect to matters appearing in the Bloomberg news report.

Earlier, the exchanges have asked Tata Motors, Tata Steel, Indian Hotels, Tata Teleservices and Tata Power, to provide full details about these issues.

The exchanges asked the companies to provide "clarification or confirmation on the news item in detail".

In case of an affirmation, the Tata Group has been advised to provide the information along with the sequence of events and the material impact on the company.

As per reports, the Securities and Exchange Board of India (SEBI) is also keeping a close tab on the high profile Tata-Mistry case. (ANI)

New Delhi [India], July 23 (ANI): With initiatives like Bharat Net aiding the expansion of broadband network in India, initiatives like Digital India are said to gain momentum, leading to the expansion of social media, an ASSOCHAM paper noted.

Full Story >>

40 percent of India's GDP outside GST: Chidambaram

Updated: Jul 23, 2017 17:51 IST     

Pune (Maharashtra) [India], July 23 (ANI): Criticising the Centre's formulation of the Goods and Services Tax (GST), former finance minister and Congress leader P. Chidambaram pointed out that many products have been kept out of the new tax regime.

Full Story >>

New Delhi [India], July 22 (ANI): The fourth edition of Madhya Pradesh Travel Mart themed 'Seek-Discover-Explore' will be held at Bhopal from October 27 to 29.

Full Story >>

New Delhi [India], July 22 (ANI): Telecom Regulatory Authority of India (TRAI) Chairman R S Sharma on Saturday said that the authority is in view of creating a framework for data privacy and protection, which will be specifically limited to the telecom sector.

Full Story >>

New Delhi [India], July 22 (ANI): Toronto Recombinant Antibody Centre (TRAC) from the University of Toronto, Canada agreed to license MedGenome's patented cancer immunotherapy solution OncoPept to develop biomarkers for their drug candidates against immune modulators to treat cancer.

Full Story >>

Tokyo [Japan], July 22 (ANI): AVX Corporation signed a definitive agreement to acquire the transportation, sensing and control division (hereinafter called TS&C), from the UK company, TT Electronics PLC.

Full Story >>

Planning easy travel, refer to these top five apps!

Updated: Jul 22, 2017 14:20 IST     

New Delhi [India], July 22 (ANI): With the season of festivals getting back to its fervor, it is time again to plan, save time and fly to your preferred destination, without particularly burning a giant hole in your pocket.

Full Story >>

India was funded by invisible money for 70 years: Jaitley

Updated: Jul 22, 2017 11:09 IST     

New Delhi [India], July 22 (ANI): Finance Minister Arun Jaitley, while calling for a greater degree of transparency in political funding, said India was being funded by invisible money for 70 years.

Full Story >>

Return on PMVVY scheme exempted from GST: Jaitley

Updated: Jul 21, 2017 20:18 IST     

New Delhi [India], July 21 (ANI): Union Finance Minister Arun Jaitley on Friday said that rate of return being provided to senior citizens under the Life Insurance Corporation of India's (LIC) new scheme will be exempted under the new Goods and Services Tax (GST) regime, and will be free from fluctuation, thus ensuring more stability to the aged.

Full Story >>

New Delhi [India], July 21 (ANI): Bank of Baroda on Friday announced entering into a Memorandum of Understanding (MoU) with the Directorate General of Supplies and Disposal (DGS&D) for extending various banking services to the Government e-Marketplace (GeM) initiative.

Full Story >>

Mercedes-Benz India launches new AMG GLC 43 4MATIC Coupe

Updated: Jul 21, 2017 17:34 IST     

New Delhi [India], July 21 (ANI): Commemorating the completion of 50 years of its performance brand-AMG, luxury car maker Mercedes-Benz India on Friday launched the all new Mercedes-AMG GLC 43 4MATIC Coupe, an SUV Coupe which embodies superlative driving performance and agility.

Full Story >>

Uber launches UPI-linked payment services on Android

Updated: Jul 21, 2017 17:34 IST     

New Delhi [India], July 21 (ANI): Taxi aggregator Uber on Thursday announced third payment option for their Android app users, apart from cash, e-wallet and credit/debit card with the integration of the Unified Payment Interface (UPI) payments platform.

Full Story >>

New Delhi [India], July 21 (ANI): While addressing shareholders at 40th annual general meeting (AGM) of Reliance Industries Chairman Mukesh Ambani announced a bonus issue of 1:1, which means that shareholders will get one bonus share for every one share held by an investor.

Full Story >>

New Delhi [India], July 21 (ANI-NewsVoir): EO Gurgaon organised conversation with Vikram Oberoi, the third generation scion of India's best-known luxury hospitality chain. He is the most successful purveyor of luxury hospitality in the country. Over the 10 years, when he stepped into a mainstream management role as General Manager of the Oberoi Rajvilas in Jaipur, he has relentlessly focused on quality and succeeded.

Full Story >>

New Delhi [India], July 21 (ANI): Government think-tank NITI Aayog on Friday approved investments worth Rs. 18,000 crore for high-speed rail projects for major routes of Delhi-Mumbai and Delhi-Kolkata, Union Minister for Railways Suresh Prabhu said at an ASSOCHAM event here today.

Full Story >>

ShopClues appoints Deepak Sharma as new CFO

Updated: Jul 21, 2017 15:23 IST     

New Delhi [India], July 21 (ANI): India's first and largest managed online marketplace ShopClues on Friday announced appointment of Deepak Sharma as CFO.

Full Story >>

Mumbai (Maharashtra) [India], July 21 (ANI): Reliance Industries Chairman and Managing Director (CMD) Mukesh Ambani on Friday launched its VoLTE feature phone, JioPhone, in India at an 'effective price' of Rs 0.

Full Story >>

New Delhi [India], July 20 (ANI): Paytm now enables customers to get their cashback as Paytm Gold. This will combine the spending and saving experience with an asset that is close to the hearts of Indians.

Full Story >>

Reliance Industries announces Q1 profit at Rs. 9108 crore

Updated: Jul 20, 2017 18:46 IST     

New Delhi [India], July 20 (ANI): Reliance Industries' on Thursday announced its earnings with a consolidated profit at Rs. 9,108 crore, partly driven by one-time gain of Rs. 1,087 crore.

Full Story >>

New Delhi [India], July 20 (ANI-NewsVoir): Created with an objective to deliver striking blow to counterfeiting, LetsVeriFy, an innovative and cutting-edge application by ThinkCurve is witnessing a high growth in popularity amongst customers and manufacturers in India.

Full Story >>