A look at the headlines in the sector right now:

  1. Matter of dual control of tax remains undecided, GST council to meet again on January 16: Kerala’s finance minister said the uniform tax might be introduced in September this year.  
  2. Hiranandani, GMR and Tata pull out of Navi Mumbai airport project: The three companies said their concerns included the incomplete resettlement of families and no pre-development work.
  3. Paytm gets RBI approval to launch payments bank: Founder Vijay Shekhar Sharma said they aim to take financial services to the ‘unserved or underserved Indians’.
  4. Tata Sons reportedly planning to remove Cyrus Mistry from board: A formal shareholder meeting to discuss the move will be held after the National Company Law Tribunal hears a petition against the holding company.
  5. Supreme Court seeks list of companies with over Rs 500 crore debt: There are more than 70,000 cases involving over Rs 5 lakh crore currently pending with debt recovery tribunals, the Centre said.
  6. States could lose Rs 90,000 crore by adopting new tax law, says West Bengal minister: Regional representatives demanded increased compensation as well as the ability to charge levies on offshore sales, at the latest meeting.
  7. Microsoft India’s Karan Bajwa is IBM’s new managing director: His appointment is effective immediately, the firm said.