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Shares of <keyword id="46108" type="COMPANY" weightage="20" keywordseo="Sterling">Sterling</keyword> and <keyword id="8370737" type="LOCATION" weightage="20" keywordseo="Wilson-Solar">Wilson Solar</keyword>, a <keyword id="261354" type="COMPANY" weightage="20" keywordseo="Shapoorji-Pallonji-Group">Shapoorji Pallonji Group</keyword> (<keyword id="6953502" type="COMPANY" weightage="20" keywordseo="SP-Group">SP Group</keyword>) company, plunged over 10 per cent after the Supreme Court dismissed appeals of the group and set aside the judgement which had ordered the reinstatement of <keyword id="6356895" type="PERSON" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword> as Chairman of <keyword id="46894" type="COMPANY" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>. Around 2.30 p.m., shares of Sterling and <keyword id="8987948" type="COMPANY" weightage="20" keywordseo="wilson-solar-ltd">Wilson Solar Ltd</keyword> on the BSE were trading at ₹244.95, lower by ₹27.45 or 10.08 per cent from its previous close. A bench headed by Chief Justice S.A. Bobde said all questions of law are in favour of Tata Group and dismissed the appeals filed by Mistry. The top court upheld the Tata Sons decision to sack Cyrus Mistry on October 24, 2016. <keyword id="6371516" type="COMPANY" weightage="20" keywordseo="shapoorji-pallonji">Shapoorji Pallonji</keyword> Group counsel had argued that Mistry was removed because he was going to place a draft governance structure at the Board meeting on October 24, 2016. "We find all the questions of law are liable to be answered in favour of the appellants (Tata Group) and the appeals filed by the Tata Group are liable to be allowed and Shapoorji Pallonji group is liable to be dismissed," said the top court. The top court said the value of SP Group shares will depend on the valuation by Tata Sons equities and the court will not determine the fair value. In December 2019, the NCLAT had ruled that the proceedings of the Board meeting of Tata Sons held on October 24, 2016 removing Cyrus Mistry as chairperson was illegal. The Mistry family, which runs SP Group, owns an 18.4 per cent stake in Tata Sons. SEE ALSO: <a href="https://www.businessinsider.in/india/news/the-entire-crew-of-the-massive-ship-that-has-blocked-suez-canal-is-indian/articleshow/81699456.cms">The entire crew of the massive ship that has blocked Suez Canal is Indian</a> <a href="https://www.businessinsider.in/politics/elections/checkout-the-list-of-mamata-banerjee-favourite-tv-and-sports-celebrities-who-are-fighting-for-tmc/slidelist/81700172.cms">Mamata Banerjee's favourite celebs who are fighting for Trinamool Congress in some of the toughest constituencies</a> <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-shares-listed-at-4-less-than-the-issue-price/articleshow/81700313.cms">Suryoday Small Finance Bank shareholders lost 7% of their investment within minutes of listing</a> <a href="https://www.businessinsider.in/stock-market/news/kalyan-jewellers-makes-a-lacklustre-debut-listing-at-15-discount-to-issue-price/articleshow/81700343.cms">Kalyan Jewellers makes a lacklustre debut, listing at 15% discount to issue price</a>

Sterling & Wilson shares fall 10% after Supreme Court's verdict against SP Group in the Cyrus Mistry vs Tata case

<ul><li>The Supreme Court today ruled in favour of the <keyword id="6355725" type="ORGANIZATION" weightage="20" keywordseo="tata-group">Tata Group</keyword> in its almost five-year long battle with its former chairman and a major shareholder <keyword id="6356895" type="ORGANIZATION" weightage="20" keywordseo="cyrus-mistry">Cyrus Mistry</keyword>.</li><li>As soon as the news broke, the share market celebrated the win as <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Group stocks jumped.</li><li>A thankful <keyword id="6360722" type="UNKNOWN" weightage="20" keywordseo="ratan-tata">Ratan Tata</keyword> said that the judgment comes “after relentless attacks on my integrity and ethical conduct of the group”.</li></ul>The Supreme Court today ruled in favour of the salt-to-aviation giant Tata Group in its almost five-year long battle with its former chairman and shareholder Cyrus Mistry. The court also dismissed an appellate court order that allowed Cyrus Mistry to be reinstated as the group Chairman. And as soon as the news broke, the share market celebrated the win as Tata Group stocks jumped. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price jump as of 1 pm </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+4.22% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.51% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Chemicals </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+2.11% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+3.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Global Beverages </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">+1.91% </td></tr></tbody></table> Cyrus Mistry, whose family holds a majority stake – as much as 18.5% stake in Tata Sons (the holding company of the Tata Group), was appointed as Chairman in 2012 and ousted in 2016. Ratan Tata also went on to talk about the news on Twitter. A thankful Tata said that the judgment comes ‘after relentless attacks on my integrity and ethical conduct of the group”. <div type="twitter" handle="RNTata2000" handlename="Ratan N. Tata" image="http://pbs.twimg.com/profile_images/1189494401359208448/AwbXHtpn_normal.jpg" favoritecount="15068" retweetcount="1750" status="https://t.co/CjAR6LzIah" createdat="1616742606000" id="1375344292726644738"></div> The top court said that all the laws were in favour of the Tata Group. “We cannot adjudicate on the question of compensation and they can take the route under Article 75. Order of NCLAT is set aside. Appeal by TATA group is upheld. Appeal by SP group is dismissed. Appeal by Cyrus Investments is dismissed,” said Chief Justice of India SA Bobde during the order. The top court further said, “We leave it to Tata Sons, Mistry to take legal route to resolve issue of shares. Value of Tata Sons shares depends on equity.” SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/ratan-tata-wins-the-fight-against-cyrus-mistry-at-the-supreme-court/articleshow/81701951.cms">Ratan Tata wins the fight against Cyrus Mistry at the Supreme Court</a>

All Tata Group stocks soar in trade as Ratan Tata prevails in the legal battle with Cyrus Mistry at India's Supreme Court

New Delhi, July 10 (IANS) The Supreme Court on Friday agreed to examine a plea putting up a crucial question whether restrictions could be imposed on using social media by a court as a condition for bail. A plea was filed by Congress leader Sachin Chaudhary challenging the Allahabad High Court ruling which granted bail to him on the condition that he would not use social media till the trial is concluded. A bench headed by Chief Justice S.A. Bobde and comprising Justices R. Subhash Reddy and A.S. Bopanna held that if a person's participation on social media creates mischief, then why cannot the court say don't use the instrument by which one has caused mischief. Senior advocate Salman Khurshid, representing Chaudhary, however, contended that there is no allegation against his client in connection with social media usage. The bench noted that it could consider laying down a law on this matter on whether a trial court, while granting bail, could restrict a person from using social media. It also observed that it would also examine if such restrictions could be imposed when the crime committed has nothing to do with social media access, as it issued notice to the Centre and the Uttar Pradesh government. Chaudhary was arrested under various sections of the Indian Penal Code and the Information Technology Act and a section of the Disaster Management Act. He was granted bail on May 20 by the high court, which imposed restrictions on the usage of social media along with other conditions such as cooperation in trial and also no participation in criminal activity. --IANS ss/vd

SC to examine curbs on social media use as a bail condition

New Delhi, The <keyword id="6354977" type="COMPANY" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> on Friday issued a notice to the Centre and Twitter on a plea seeking a mechanism to check content on Twitter spreading hatred through <keyword id="2479020" type="PERSON" weightage="20" keywordseo="Fake-news">fake news</keyword> and instigative content through <keyword id="5009640" type="PERSON" weightage="20" keywordseo="bogus-accounts">bogus accounts</keyword>. A bench headed by Chief <keyword id="6357043" type="ORGANIZATION" weightage="20" keywordseo="justice">Justice</keyword> S.A. Bobde issued the notice on a plea by BJP leader Vinit Goenka seeking a mechanism to check content on Twitter spreading hatred through fake news and instigative content through bogus accounts. The top court tagged the matter with similar pending petitions seeking social media regulation. The plea, filed through advocate Ashwani Kumar Dubey, argued that presently total number of Twitter handles in India are around 35 million and total number of Facebook accounts are 350 million and experts says that around 10 per cent Twitter handles (3.5 million) and 10 per cent Facebook accounts (35 million) are duplicate/bogus/fake. The petitioner argued that these fake Twitters handles and bogus Facebook accounts, have been created, in the name of eminent people and high dignitaries including the <keyword id="2540" type="POSITION" weightage="20" keywordseo="President">President</keyword> of India, Vice President of India, Prime Minister of India, Chief Ministers, <keyword id="68811" type="COMPANY" weightage="20" keywordseo="Cabinet-ministers">Cabinet Ministers</keyword>, Chief Justice of India and the judges of the Supreme Court and High Courts. Goenka said that these fake Twitter handles and Facebook accounts use real photos of constitutional authorities and eminent citizens. As a result, the common man relies upon the messages published from these Twitter handles and Facebook accounts. The petitioner insisted that fake news is the root cause of many riots, including the one in Delhi earlier this year. Moreover, bogus accounts are used to promote communalism, which is a threat to the unity of the country. The plea argued that political parties use fake social media accounts to tarnish the image of opponents during elections, and also self-promotion. The plea sought the apex court to issue direction to the Centre, Ministry of Information &amp; Broadcasting, Ministry of Law &amp; Justice, and <keyword id="749437" type="COMPANY" weightage="20" keywordseo="Twitter-India">Twitter India</keyword> to make a mechanism against the social media accounts in order to stop the hatred, fake, instigative and other news which are contrary to the law of the country or violates the law of the country. The plea also sought directions to make a law to initiate action against Twitter and their representatives in India for wilfully abetting and promoting anti India tweets and penalising them. The petitioner cited that the <keyword id="69522" type="COMPANY" weightage="20" keywordseo="ministry-of-home-affairs">Ministry of Home Affairs</keyword> has banned Sikhs for Justice (SFJ) under the Unlawful Activities and Prevention Act on July 10, 2019, yet this banned organisation continues to have an active presence on Twitter promoting its agenda. The petitioner argued despite sending a representation to the authority concerned no action has been taken against social media giant Twitter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/defense/news/experts-say-india-and-china-both-need-to-show-their-voters-that-they-won-in-ladakh-for-the-disengagement-to-be-successful/articleshow/80876036.cms">Experts say India and China both need to show their voters that they won in Ladakh⁠ for the disengagement to be successful</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/why-grofers-may-allow-an-american-blank-cheque-firm-to-buy-it-out-instead-of-fighting-ambani-and-bigbasket-for-ipo/articleshow/80874979.cms">Here’s why Grofers may allow an American “blank cheque” firm to buy it out instead of fighting Ambani and BigBasket for IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/spicejet-and-indigo-stocks-take-off-as-a-2-hour-flight-could-now-cost-up-to-13000/articleshow/80873865.cms">SpiceJet and IndiGo stocks take off as a 2-hour flight could now cost up to ₹13,000</a>

Supreme Court tells Indian government and Twitter to find a way to curb hate speech online and shut down fake accounts

<ul><li>The Supreme Court of India has issued a notice to the Reserve Bank of India (<keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>) and the National Payments Corporation of India (NPCI) to show that data of Indian citizens collected by their payment platforms is not being misused. </li><li>According to the petition filed by Communist Party of India (CPI) Member of Parliament (MP) Binoy Viswan, the big four tech giants — WhatsApp, Google, Amazon and Facebook — don’t store the data of Indian users on servers in India despite RBI’s circular. </li><li>According to Viswan, they continue to store data overseas and share the data with their parent companies. </li></ul>The Supreme Court has issued a notice to the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) seeking directions to ensure that the data of Indian users collected by the United Payments Interface (UPI) platforms of Amazon, Google and Facebook-owned WhatsApp is not misused. The notice comes in response to a plea filed by a member of the Communist Party of India (CPI) Binoy Viswan back in September. It alleges that companies like Google, Amazon, and others are not complying with data protection guidelines set forth by the RBI and the NPCI. “We will issue notice. Here there is apprehension that the entire regime of payments will commence before the entire regulatory framework is put in place,” said the three-judge bench headed by Chief Justice of India (CJI) SA Bobde. The allegations leveled against Google, Amazon and WhatsApp According to the Reserve Bank of India (RBI), all multinational companies conducting financial transactions within India are required to keep the data secured on servers within the country. Senior advocate Shyam Divan, arguing on Viswan’s behalf, argued that this has still not been implemented despite the order being issued over two years ago, in April 2018. It also questions the RBI and the National Payments Corporation of India (NPCI) on how these companies are allowed to operate despite these violations. "Millions of Indians use UPI platforms for making payments and with the RBI and NPCI allowing the Big Four Tech Giants to participate in this UPI ecosystem without much scrutiny, sensitive financial data of Indian citizens is being misused,” said the plea. Viswan’s petition is seeking restrictions on Google Play, <keyword id="4009819" type="PERSON" weightage="20" keywordseo="Amazon-Pay">Amazon Pay</keyword> and <keyword id="4878801" type="PERSON" weightage="20" keywordseo="whatsapp-pay">WhatsApp Pay</keyword> from sharing information with the parent company or with any third party so that it cannot be misused. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/chinese-president-xi-jinping-tells-marine-troops-to-be-on-high-alert-and-prepare-for-war/articleshow/78675715.cms">Chinese President Xi Jinping tells marine troops to be on ‘high alert’ and ‘prepare for war’ as tensions in the South China Sea continue to grow</a> <a href="https://www.businessinsider.in/stock-market/news/infosys-share-price-hits-fresh-52-week-high-after-highest-ever-deal-wins-of-over-3-billion/articleshow/78673575.cms">Infosys share price hits fresh 52-week high after highest-ever deal wins of over $3 billion</a>

You Searched For "SA Bobde" and got 5 results

Sterling & Wilson shares fall 10% after Supreme Court's verdict against SP Group in the Cyrus Mistry vs Tata case

IANS

All Tata Group stocks soar in trade as Ratan Tata prevails in the legal battle with Cyrus Mistry at India's Supreme Court

Sanchita Dash

SC to examine curbs on social media use as a bail condition

IANS

Supreme Court tells Indian government and Twitter to find a way to curb hate speech online and shut down fake accounts

IANS

Whatsapp, Google, Amazon and Facebook under the scanner for data protection violations as Supreme Court calls on RBI and NPCI to investigate

Prabhjote Gill

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