Tue, Mar 28, 2017 | updated 03:59 AM IST

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

Updated: Oct 27, 2016 10:52 IST

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], Mar 27 (ANI): Leading financial marketplace Wishfin on Monday announced developments in the company's management team with key new hires to support its expansion.

Full Story >>

New Delhi [India], Mar 27 (ANI): Bank of Baroda, India's leading public sector bank has entered into MOU with Jain Irrigation Systems Limited, with an objective to finance the Micro Irrigation systems i.e. drip and sprinkler irrigation sold by the company through the network of Bank of Baroda branches across the country.

Full Story >>

New Delhi [India], Mar 27 (ANI): The 33rd Edition of India Carpet Expo, Organized by Carpet Export Promotion Council at Pragati Maidan, New Delhi was inaugurated today with lamp lighting by Minister of Textile, Smriti Irani in the august presence of Ajay Tamta, Minister of State for Textiles and Virender Singh, Member of Parliament, Bhadohi.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's top mobile balance management service app True Balance has introduced a welcomed addition of 'One-click Recharge' feature to facilitate easy phone bill payments through its platform.

Full Story >>

New Delhi [India], Mar 27 (ANI): Unveiled at the Milan Men's Fashion Week 2017, the Ducati Diavel Diesel is now available on special order at Ducati dealerships across the country. One of the most successful Ducati models in India, the Diavel has now donned an exquisite avatar, as a result of a creative collaboration between the Ducati Design Center and Andrea Rosso, Diesel Licensing Creative Director.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's leading online recruitment marketplace Aasaanjobs on Monday announced the launch of its unique search and filter feature for job seekers on its platform.

Full Story >>

New Delhi [India], Mar 27 (ANI-NewsVoir): The fast moving consumer goods (FMCG) segment is the fourth largest sector in the Indian economy.

Full Story >>

New Delhi [India], Mar 27 (ANI-NewsVoir): Shardul Amarchand Mangaldas and Co. has been awarded the 'National Law Firm of the Year, 2017, India' by Chambers and Partners, the world's premium evaluator of Legal Services.

Full Story >>

New Delhi [India], Mar 27 (ANI): Lalit Dalmia has launched his brand new Collection Name Fad Paradise at Indian Showcase week. The show was opened by singer composer Arko Mukherjee and closing ceremony was done by Mohammed Morani.

Full Story >>

New Delhi [India], Mar 27 (ANI): Punjab Agri Export Corporation Ltd. (PAGREXCO) has signed an MOU for an Exclusive Alliance for Ecommerce Enablement of PAGREXCO in association with Trendybharat.com. Under this agreement, Trendybharat.com will market, promote and sell Punjab Agro's organic products across India and overseas.

Full Story >>

New Delhi [India], Mar 27 (ANI-BusinessWireIndia): Tata Capital, the financial services arm of the Tata Group, today, announced the launch of 'myLoan' - a first-of-its kind Mobile App by the company to extend its existing personal loan offering to the emerging younger and mobile savvy audience.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's largest online marketplace Snapdeal on Monday announced a range of initiatives launched at curbing fraudulent online transactions, are accruing massive cost savings for the company.

Full Story >>

New Delhi [India], Mar 27 (ANI): India's leading and fastest growing seed investment and innovation platform Venture Catalysts announced its participation in Series A funding round of Fynd, the unique fashion e-commerce portal with USD 500k.

Full Story >>

New Delhi [India], Mar 27 (ANI): Taxi aggregator Ola on Monday announced the launch of Ola Play, its connected car platform for ridesharing in Hyderabad.

Full Story >>

Gurugram (Haryana) [India], Mar.27 (ANI-Businesswire India): Axalta Coating Systems (NYSE: AXTA), a leading global supplier of liquid and powder coatings, showcased its general industrial coating solutions at the India Surface Finishing Exhibition 2017 (ISF 2017) recently held in New Delhi.

Full Story >>

Jaitley tables Central GST Bill in LS

Updated: Mar 27, 2017 12:25 IST

New Delhi (India), Mar. 27 (ANI): Union Finance Minister Arun Jaitley on Monday tabled the Central Goods and Services Tax (GST) Bill 2017 in the Lok Sabha.

Full Story >>

New Delhi [India], Mar 25 (ANI): The wildlife conservation worker, like most of their subjects, is an elusive person. To celebrate the outstanding contribution of these simple, hardworking, humble yet extraordinary people, ZEISS group acknowledged these talented individuals in wildlife conservation through their annual ZEISS Wildlife Conservation Awards and this year on March 24th, 2017 at Indian Habitat Centre, New Delhi.

Full Story >>

New Delhi [India], Mar 25 (ANI): Vestas Wind Systems, the world's leading wind power solutions provider, today inaugurated a state-of-the-art wind turbine blade manufacturing unit in Gujrat.

Full Story >>

New Delhi [India], Mar 25 (ANI): In yet another fun filled afternoon for fashion and sports enthusiasts, India's leading fashion e-tailer, Jabong, hosted a launch event with the legendary Indian Cricket all-rounder Yuvraj Singh unveiling his sports lifestyle brand YWC on the portal.

Full Story >>