TCS revokes termination order of woman employee Posted on 21st January 2015 |
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| Tata Consultancy Services, the country’s largest information technology services provider, has revoked a dismissal letter issued to a female employee and so informed the Madras High Court. Last week, the HC had issued an interim injunction to restrain TCS from implementing the order for four weeks. When asked, a company spokesperson said: “Ms Sasi Rekha has stated in the affidavit before the HC that she is pregnant. This was not made known to TCS by (her) during the exit process. Considering this statement, TCS, while disputing that (such) employees are workmen within the (meaning of the) Industrial Disputes Act, decided to revoke the letter relieving Ms Sasi Rekha, as an exceptional case, in line with its practice of not relieving any employee during pregnancy. This fact was brought to the knowledge of the Court and recording the same, the court has dismissed the writ petition as infructuous.” According to advocate Ramapriya Gopalakrishnan, the letter of dismissal had been dated December 22, 2014. She added another petition of a similar nature was filed with the HC on Tuesday, with a hearing on Wednesday. On January 13, an order by judge M Duraiswamy directed the TCS management not to effect the order of termination, of being relieved from service on January 21. The petitioner had asked the court to issue orders directing the labour department to commence conciliation proceedings on the industrial dispute raised by her on the dismissal notice. And, to direct TCS to await the outcome of this before effecting any dismissal. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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