News digest: Unitech saga, bitcoin, Max Hospital, Maruti Suzuki, and more

From Centre seeking to take control of Unitech to capital goods and infrastructure companies showing significant improvement, BS brings you top stories to speed up with the latest news

Govt moves to take control of Unitech; NCLT supersedes board

The corporate affairs ministry has moved the National Company Law Tribunal (NCLT) seeking management control of debt-ridden real estate company Unitech on the grounds of alleged mismanagement and diversion of funds. If the government has its way, this could be the third instance in history, after the Satyam and NSEL cases. Read more
 
Wedding gift scene disrupted as bitcoin joins the party

When Prashant Sharma and Niti Shree met at a gathering four years ago in Bengaluru, they bonded over their love for start-ups and new technologies. Those shared interests have followed them to their wedding venue. Their floral-themed blue-and-white wedding invites, which went out last month, had an unusual request: they wanted their guests to help them “disrupt the gifting scene”. Read more

Twins case: Delhi govt cancels licence of Max Hospital in Shalimar Bagh

The Delhi government on Friday cancelled the licence of Max Hospital, Shalimar Bagh, with immediate effect, for alleged medical negligence, including in the twins case in which one of the babies was found alive after being wrongly declared dead by the doctors. Read more

Maruti Suzuki rides past SBI, HDFC in m-cap

The ‘banker to every Indian’, State Bank of India, is now behind the carmaker for every second Indian, Maruti Suzuki, in market capitalisation. At a market cap of Rs 2,73,106 crore, the Suzuki-promoted carmaker is now the sixth most valued company in the country. Read more

Capital goods, infra order book doubles in December quarter

The order inflow trend for capital goods and infrastructure companies in the country has shown significant improvement, with the order value having more than doubled on a year-on-year basis in the December quarter so far. Between October 1 and December 6, various infrastructure, construction and capital goods companies announced orders worth Rs 55,814 crore as new order wins. Read more

In 16 states, T&D losses have gone up from 20% to 56%: R K Singh

Has UDAY (the scheme to revamp distribution companies or discoms) been a success? What needs to be done by the laggard states?

 
We have set January 2019 as the deadline by when (transmission and distribution or T&D) losses should be capped at 15 per cent. Many states will be less than that and we are confident we will achieve it. Read more