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Daimler recalls hundreds of thousands of Mercedes-Benz diesel vehicles
Posted on 12th October 2019
German carmaker Daimler is recalling hundreds of thousands of Mercedes-Benz vehicles including Sprinter van models over diesel emissions issues.

Daimler said late on Friday that Germany’s road traffic regulator KBA has concluded hearings over certain Mercedes-Benz vehicles with so-called OM651 diesel engines meeting Euro 5 emission standards and has ordered Daimler to carry out recalls.

Weekly Bild am Sonntag on Sunday reported a recall of Mercedes-Benz Sprinter vehicles was imminent after KBA warned the luxury carmaker that the transporter vans may contain illegal engine management software.

“Mercedes-Benz customers will be notified in writing over further actions if their vehicle is subject to the recall and a software update can be installed,” the company said.

Daimler said a “medium six figure” number of vehicles would be affected by the recall, including 260,000 Sprinter vans from a previous generation of vehicles that went out of production in 2016, and that it was fully cooperating with the regulator.

KBA proceedings with regard to engine control functionality were far advanced but not yet concluded, it said. More orders from the regulator could therefore not be ruled out.

Earnings would not be further affected by the KBA proceedings, it added.

In June, Daimler issued a profit warning and announced an increase of legal provisions by a high three-digit million euros amount, to cover various ongoing governmental proceedings and measures relating to diesel vehicles.

Related Companies: Mercedes Benz India Limited   

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The All India Muslim Personal Law Board (AIMPLB) is likely to take a call on whether to file a review petition in the Supreme Court's final verdict in the Ayodhya land dispute case.

A meeting of AIMPLB is expected to take place today in Lucknow to decide on call to be taken by the board in the Ram Janmabhoomi-Babri Masjid case verdict by the Supreme Court.


Maharashtra: BJP afraid MLAs may defect, says NCP’s Nawab Malik
Posted on 16th November 2019
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SAT pulls up Sebi for 'shabby' handling of complaints from investor
Posted on 16th November 2019
The Securities and Appellate Tribunal (SAT) has hauled up the Securities and Exchange Board of India (Sebi) for giving computer-generated response to investor complaints filed on its online platform Scores and for disposing of the matter without settling the case.

“We find the approach adopted by Sebi to be a strange one. Such computer-generated disposal of a serious complaint speaks volumes on the conduct in treating the minority shareholders in this shabby manner,” the tribunal said while delivering a judgment on a matter related to an investor complaint.


US to extend licence for its firms to continue business with Huawei: Report
Posted on 16th November 2019
The Trump administration is set to issue a two-week extension of a licence allowing U.S. companies to continue doing business with China's Huawei Technologies Co Ltd, two sources familiar with the deliberations said.

The extension of around two weeks is far shorter than the prior 90-day extension and a longer extension is in the works but has not yet been finalised due to regulatory hurdles, said one source who was briefed on the matter.


SC sets aside NCLAT order, paves way for Arcelor to acquire Essar Steel
Posted on 16th November 2019
The Supreme Court on Friday brought down the curtains on an epic battle for debt-laden Essar Steel, paving the entry of the world’s largest steel maker, ArcelorMittal, into the second-biggest steel market, India.

In a ruling that would have a far-reaching impact on cases under the Insolvency and Bankruptcy Code (IBC), the apex court has set aside the National Company Law Appellate Tribunal (NCLAT) order that put a different class of creditors — financial vis-a-vis operational creditors as also secured and unsecured financial creditors — on a par.


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