Top five new stories to watch out for on August 21, 2019

| Updated on August 20, 2019 Published on August 21, 2019

Yogi Adityanath, Uttar Pradesh Chief Minister   -  THE HINDU

The National Company Law Appellate Tribunal (NCLAT) will hear Dighi Port’s corporate insolvency resolution process on August 21.  Dighi Port Ltd, the entity that runs a private port in Raigad district, Maharashtra, went into bankruptcy. The NCLT, on a petition filed by an operational creditor, DBM Geotechnics and Constructions Pvt Ltd, last year ordered the start of corporate insolvency resolution proceedings under the Insolvency and Bankruptcy Code (IBC). Dighi Port, majority owned by Balaji Infra Projects Ltd, owed Rs. 30 crore to DBM Geotechnics for constructing two multipurpose berths at Dighi and one berth at Agardanda, also in Maharashtra.

The first reshuffle of Uttar Pradesh Chief Minister Yogi Adityanath’s cabinet will take place on Wednesday. The reshuffle is likely to fill the slots that have fallen vacant in the last few months.  Adityanath is likely to induct some new faces into his cabinet. This will be the first cabinet reshuffle after Adityanath took over the reins of the state in March 2017, heading a 47-member ministry including himself.

The Tamil Nadu Private Water Lorry Owners Association have announced an indefinite strike from August 21. They want the state government to ensure that the problems they face, like issue licences to draw groundwater and operate tankers, are solved. This is the third time in three months that the association has called for a strike as their issues remain unaddressed. Residents who live along the Rajiv Gandhi Salai and East Coast Road are likely to be affected.

According to the NSE website, the results of Gillette India Limited, Procter & Gamble Hygiene and Health Care Limited, INEOS Styrolution India Limited, Arman Financial Services Limited,  Somany Ceramics Limited are expected on August 21.

Maruti Suzuki will launch its XL6 premium MPV in India today. It will be petrol only, across two variants and six colours. The XL6 gets Maruti Suzuki’s 1.5-litre K-Series petrol engine that produces 103.5bhp/138Nm and it can be had with either a five-speed manual or a four-speed AT. This engine is offered with the SHVS mild-hybrid system. The car is expected to be priced in the range of Rs 8 lakhs to Rs 12 lakhs and will be slotted into the same price bracket as the Maruti Suzuki S-Cross as well as other D-segment sedans.

Published on August 21, 2019
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