Top headlines: SC stay on Mistry order, YES Bank audit panel chief quits

From SC staying NCLAT order on Cyrus Mistry to dipping passenger vehicle sales, read all the top headlines here

SC stays NCLAT order restoring Cyrus Mistry as Tata Sons' chairman

The Supreme Court on Friday stayed in toto the National Company Law Appellate Tribunal (NCLAT) order restoring Cyrus Mistry as executive chairman of the Tata Group (TSPL), observing that there were "lacunae" in the orders passed by the tribunal. A bench of Chief Justice S A Bobde and Justices B R Gavai and Surya Kant said the NCLAT decision suffered from "basic errors and we have to hear the matter in detail". Read more

ED attaches Chanda Kochhar's South Mumbai apartment, assets

The Enforcement Directorate (ED) on Friday attached assets and cash belonging to former ICICI Bank managing director and chief executive officer Chanda Kochhar and her husband Deepak Kochhar in connection with the Videocon loan case. Read more

Infosys Q3 profit up 23% YoY; co raises FY20 revenue guidance to 10-10.5%

Infosys on Friday reported a 23.4 per cent year-on-year (YoY) rise in its net profit at Rs 4,457 crore for the third quarter (October-December period) of the financial year 2019-20 (FY20). The company had logged Rs 3,609 crore profit in the year-ago quarter. Sequentially, the numbers grew 10.89 per cent. Read more

Infosys whistleblower complaint: Audit panel finds no financial impropriety

Infosys on Friday said that its audit committee found no evidence of financial impropriety or executive misconduct by the company in its investigiation into allegations contained in the anonymous whistleblower complaints the company disclosed on October 21, 2019 and determined that the allegations were substantially without merit. Read more
 

YES Bank audit committee chief quits, says Gill misled on capital raising

YES Bank's independent director and chairman of the audit committee Uttam Prakash Agarwal resigned on Friday alleging that Ravneet Gill, managing director and CEO of the bank, misled the bank board, shareholders, and exchanges about a binding offer to raise capital in the bank. Read more

Passenger vehicle sales dip 1.24% YoY in December; car sales down 8.4%

Domestic passenger vehicle sales fell 1.24 per cent to 2,35,786 units in December from 2,38,753 units in the corresponding period last year. Domestic car sales were down 8.4 per cent to 1,42,126 units as against 1,55,159 units in December 2018, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Read more

India's oil demand growth to overtake China by mid-2020s: Energy Agency

The International Energy Agency (IEA) on Friday said that India's oil demand growth would overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East. Read more

J&K restrictions: SC orders review of internet suspension within a week

The Supreme Court of India on Friday ordered immediate review of internet suspension in the Union Territory of Jammu and Kashmir, while pronouncing its verdict on a batch of pleas, including that of Congress leader Ghulam Nabi Azad challenging the restrictions imposed in the erstwhile state of Jammu & Kashmir (J&K) following abrogation of Article 370. Read more