TCS settles US suit

New Delhi, Feb. 26: The country’s largest software firm TCS has agreed to settle a suit filed by two former employees alleging violation of the rights of its non-US citizen workers in the US, reportedly for $30 million. Highlighting that the US court has found no wrongdoing by the company, TCS said it “believes that it always acted appropriately notwithstanding the allegations in this case”.

Ranbaxy loss

New Delhi, Feb. 26: Ranbaxy Laboratories has suffered a consolidated net loss of Rs 492.44 crore for the fourth quarter ended December 31 against Rs 2,982.76 crore in the year-ago period.

Jaguar sedan

New Delhi, Feb. 26: Tata Motors-owned Jaguar Land Rover today launched the premium sedan Jaguar XJ Ultimate, priced up to Rs 1.88 crore (ex-showroom, Mumbai).

Selloff funds

New Delhi, Feb. 26: The divestment proceeds from 2013-14 fiscal will be used to infuse capital into PSUs, banks and insurance companies, minister of state for finance Namo Narain Meena said in a written reply in the Rajya Sabha today.

Tea exports

New Delhi, Feb. 26: A Parliamentary panel has expressed concern over the dismal performance of tea exports, saying efforts by the Tea Board to explore new markets have not yielded any “effective” result.