22
Tuesday
January 2019
8:35 AM IST
News Headlines
Full dress rehearsal for Republic Day Parade on Wednesday, traffic restrictions to be in place        Jaitey calls Congress remarks on EVM hacking "lie and garbage"        China''s economy slumps to 28 year low to 6.6 per cent in 2018        Venezuela military group calls in video for not recognizing Maduro        First Indian-American Senator Kamala Harris announces her 2020 US presidential bid        Ross Taylor praises Kohli''s batting prowess ahead of limited-overs series        Halep sent home but Djokovic, Williams headed to the Australian Open quarter-finals        Boo - The World's Cutest dog dies        PM condoles demise of Lingayat seer        CJI recuses from hearing plea challenging Rao's appointment as interim CBI chief        Ankita wins first singles title of 2019 season in Singapore        Kohli is greatest ODI batsman to have played the game: Clarke        Minister says UK faces 'political tsunami' if Brexit halted        Mumbai TDS office issued prosecution notices in 50 ''big'' cases in past one month: CBDT        UK police speak to 97-year-old Prince Philip for not wearing seat belt        Trump offers protection to undocumented immigrants in exchange of border wall funding        Cong must be large-hearted for allies, best equipped to lead alliance against BJP: Tejashwi        BJP MLA apologises for objectionable remarks on Mayawati        Mahagathbandhan an alliance of corruption, negativity: PM        Can''t become pawns in the hands of corporate giants: Sitharaman on Rafale        
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Business News
MCA summons directors, officers of Usha Martin
 
(Kolkata, Jan10, 2019): The Assistant Registrar of Companies under the ministry of corporate affairs (MCA) has issued summons to the directors and officers of Usha Martin Limited which had sold its steel business to Tata Steel.

The summons, issued under section 207(3) of the Companies Act, 2013 on Monday, asked the directors and officers of the company to appear personally before the Assistant Registrar of Companies (West Bengal) on Friday.

According to the summons, notices were issued u/s 206 of Companies Act in respect of Usha Martin, and an inquiry was instructed to be conducted corresponding to the complaints of Basant Kumar Jhawar against the company. Usha Martin later filed its reply in later part of October last year. The present management under Rajeev Jhawar could not be contacted for his comments.

The directors and officers who have been summoned were Prashant Jhawar, Rajeev Jhawar, Brij Kishore Jhawar, Basant Kumar Jhawar, G N Bajpai and Partha Sarathi Bhattacharya among others. The ministry had asked for all the minute books of board meeting and annual general meetings relating to the issues mentioned in the complaints for the last five years.

Facing huge losses, the management of Usha Martin under Rajeev Jhawar decided to sell the steel business to Tata Steel and said the proceeds would be used to retire debt. Usha Martin would stick to its wire rope business after exiting from steel.


China''s economy slumps to 28 year low to 6.6 per cent in 2018
Minister says UK faces 'political tsunami' if Brexit halted
Mumbai TDS office issued prosecution notices in 50 ''big'' cases in past one month: CBDT
Honda Cars India announces increase in car prices, effective from Feb 1
IOC to raise USD 3 bn more in overseas loan
Jet Airways shares sink over 8% amid uncertainty over open offer
Huawei founder denies spying for China in rare interview
Rupee slips further, settles below 71-level against USD
Sebi fines 10 entities for fraudulent trading in Mindvision Capital shares
Govt sets up common facility centres for gems and jewellery sector
Rupee rises 14 paise against US dollar in early trade
Export demand to drive future growth of manufacturing companies
Reliance Communications Says 'Fully Committed' To Settle Dues With Ericsson
Jet Airways In Talks With SBI To Raise Rs. 1,500 Crore: Report
Petrol, Diesel Prices To Rise In Karnataka As State Hikes Fuel Taxes
RBI Scales Down Printing Of 2,000 Rupee Note: Report
Banks likely to recover bad loans worth Rs 70,000 crore by March-end: Arun Jaitley
BoB finalises share swap ratio for merger of Vijaya Bank, Dena Bank
Fuel prices to come down further: Dharmendra Pradhan
Cooking Gas Price Cut By Rs. 5.91 Per Cylinder
KERALA NEWS
Mineral sand mining: Talks fail, agitaion to continue
 (Thiruvananthapuram, Jan 17,2019):Conciliatory talks to end the agitation by locals against m  
Kerala HC disqualifies Koduvally MLA
Kanakadurga attacked by mother-in-law
Five killes as car and bus collide at Kottarakkara
INTERNATIONAL NEWS
Venezuela military group calls in video for not recognizing Maduro
 (Caracas, Jan 21,2019):A group of soldiers rose up against Venezuela''s President Nicolas Mad
First Indian-American Senator Kamala Harris announces her 2020 US presidential bid
Boo - The World's Cutest dog dies
UK police speak to 97-year-old Prince Philip for not wearing seat belt
NATIONAL NEWS
Jaitey calls Congress remarks on EVM hacking "lie and garbage"
 (New Delhi, Jan 21,2019):Union Finance Minister and senior BJP leader Arun Jaitley on Monday
PM condoles demise of Lingayat seer
CJI recuses from hearing plea challenging Rao's appointment as interim CBI chief
Cong must be large-hearted for allies, best equipped to lead alliance against BJP: Tejashwi
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