Having fulfilled the commitment of returning land to the farmers of Singur, the West Bengal government is planning to auction the metal scrap and car sheds of Tata Motors lying at the stackyard in Singur, Hooghly.

“An internal assessment is being done to set a reserve price,” government officials said. The assessment is expected to be completed by December and the auction could be done sometime in January. When asked, a Tata Motors spokesperson said: “We do not have any comments on this at the moment.”

New Delhi: The oil ministry has appointed G.S. Singhvi, a former Supreme Court judge and Competition Appellate Tribunal chairman (Compat), as the government’s arbitrator in a $1.55 billion dispute with Reliance Industries Ltd (RIL) over alleged extraction of gas from a reservoir connected to that of state-run Oil and Natural Gas Corp. on the east coast.

Singhvi, who retired from Compat earlier this month, will consult an arbitrator chosen by RIL for identifying a third neutral arbitrator and the place of arbitration, said a government official, who asked not to be named.

The benchmark BSE Sensex dropped by 248 points in early trade on Monday due to profit booking by investors amid weak Asian cues.

Brokers said Prime Minister Narendra Modi favouring increasing tax contribution from various market participants in a “fair, efficient and transparent way”, too triggered selling in early trade.

Taxi aggregator Ola is leaving no stone unturned to continue its effort to keep India moving in light of the cash crunch. To support the same, Ola has now enabled ‘Ola Money’ to be accepted at Bharat Petroleum Corporation Limited (BPCL) fuel pumps and LPG distributors across the country.

With over 13,000 fuel stations and close to 4,500 LPG outlets, BPCL serves lakh of people on a daily basis. With the alliance, both driver partners and consumers will be able to pay for their fuel and LPG requirements with Ola Money on VeriFone enabled PoS devices.

From January 2017, Mahindra will increase its passenger vehicle prices by upto Rs 26,500, while the small commercial vehicles prices will be increased by Rs 6,000. The lowest price hike on its passenger vehicle range will be of Rs 3,000. In addition to this, the prices of the small commercial vehicles ( Bolero Pick up,Jeeto and Supero etc) will also see a price hike up to Rs 6,000. The company has attributed the hike in prices to the rising cost of production. Due to this, various car manufacturers such as Toyota, Tata Motors, Nissan, Hyundai Motors and Mercedes Benz have decided to increase its prices from January 2017.

Agni 5 nuclear capable ballistic missile was successfully test-launched today off Odisha coast! The missile, an ICBM (Inter-continental ballistic missile) is set to give a big and formidable boost to India’s strike capabilities. With a range of over 5,000 km, the indigenously-developed Agni 5 has the lethal power to strike China. The Agni-V missile is India’s most advanced and potent weapon and deterrent against enemies. Today’s trial is the fourth developmental trial and the second canisterised-based one of the long range missile.

MUMBAI: State Bank of India, the country's largest lender, and a few other banks are expected to announce a cut in lending rates effective early January, said people with knowledge of the matter.

That could give consumption a much-needed boost, having slumped in the wake of demonetisation as people are unwilling to spend on non-essential items amid a currency shortage. People considering home and car purchases can look forward to cheaper rates due to the liquidity that's flooded the banking system with the deposit of old notes, especially since corporate loan demand remains weak. SBI couldn't be reached for comment.

The Securities and Exchange Board of India (Sebi) has initiated proceedings against Gurgaon-based Vishvapradhan Commercial, for not having made a public announcement in 2009 of a ‘change of control’ in television company NDTV.

The markets regulator told the Delhi High Court last week that proceedings had been approved under the Sebi takeover regulations and relevant provisions of the Sebi Act. The show cause notice is yet to be issued.

Aiming to raise awareness about online safety, Google India in collaboration with Ministry of Consumer Affairs on Saturday announced a nationwide ‘Digitally Safe Consumer campaign, as part of a larger effort to help better protect consumer interest online.

As part of this collaboration, Google along with the Department of Consumer Affairs will undertake a yearlong campaign focused on building capacities of consumer organisations, personnel of consumer affairs department and counsellors of National Consumer Helpline on Internet safety and related issues, a statement said here.

Breaking his silence over the feud with ousted Tata Sons chairman Cyrus Mistry, Ratan Tata on Friday said there has been a "definite move" to damage his personal reputation in the last two months but truth will eventually prevail howsoever painful the process may be.

Tata, who came back as interim chairman of Tata Sons - the holding company of the USD 103 billion salt-to-software conglomerate after Mistry was abruptly ousted on October 24, made a brief intervention at the meeting of shareholders of Tata Chemicals here to express his views.

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