Top headlines: Fadnavis quits, govt may overhaul labour laws, and more

From Devendra Fadnavis's resignation to CBDT retiring 21 more 'corrupt' tax officers, here are top ten headlines

Fadnavis announces resignation as Maharashtra CM

In dramatic twist to political events in Maharashtra, Devendra Fadnavis on Tuesday resigned as chief minister, announcing his decision at a press conference in Mumbai. 

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Probe finds Tata Steel, SKF, Schaeffler units colluded on bearings prices

An Indian antitrust probe has found that units of Tata Steel Ltd, Sweden's AB SKF and Germany's Schaeffler AG colluded on the pricing of bearings, according to an investigation report seen by Reuters.

The Competition Commission of India (CCI) began an investigation in 2017 after receiving allegations of five companies colluding on bearings prices from 2009-2014 to pass higher raw material costs onto customers in the auto sector. Read more

Modi govt may finally overhaul a hurdle for investors. India's labour laws

Prime Minister Narendra Modi is finally attempting to overhaul India’s most controversial labour laws to attract investment and make it easier to do business in a country where changing archaic rules is a challenge for any government. Read more

USFDA pulls up Ipca Labs for manufacturing violations at Gujarat plant

Pharmaceutical firm Ipca Laboratories on Tuesday said the US health regulator has found its manufacturing unit in Silvassa, Gujarat, non-compliant with the current good manufacturing practices. Read more

Central Board of Direct Taxes retires 21 more 'corrupt' tax officers

The government has compulsorily retired 21 more "corrupt" tax officers in the fifth tranche of its crackdown on errant officials accused of corruption and other malpractices, finance ministry sources said. Read more

Pakistan SC overrules govt's decision to give tenure extension to Gen Bajwa

Pakistan's Supreme Court on Tuesday suspended the decision to grant a three-year term extension to the powerful Army chief General Qamar Javed Bajwa, in a major blow to Prime Minister Imran Khan who had cited "regional security environment" for the move. Read more

Sunni Waqf Board won't file review petition against SC's Ayodhya verdict

The Sunni Central Waqf Board decided on Tuesday that it would not file a review petition against the Supreme Court verdict in the Ayodhya case, but was yet to take a call on whether to accept a five-acre alternative plot for a mosque, its chairman Zufar Farooqi said. Read more

India Ratings pegs India's GDP growth in Q2 at 4.7%; FY20 forecast at 5.6%

Indian economy may have slowed for the sixth consecutive quarter in July-September to 4.7 per cent, Fitch group firm India Ratings and Research said on Tuesday, as it lowered GDP growth forecast for current fiscal for the fourth time. Read more