MPS asset sale
• New Delhi, May 7: Sebi has lined up 14 properties of MPS Greenery Developers for an online auction next month at a total reserve price of over Rs 54 crore in a bid to recover investors' money. Sebi has initiated the process for sale of assets of the company, according to an order by the Calcutta high court. Justice Sailendra Prasad Talukdar has been appointed as one-man committee for liquidating the assets of the MPS group of companies.
Adhia view
• Vadodara, May 7: Revenue secretary Hasmukh Adhia is hopeful of a smooth transition to the GST regime and says it will help domestic companies to become more competitive apart from streamlining taxation for all business activities.
Sal Pharma
• New Delhi, May 7: The US Food and Drug Administration has issued a warning letter to drug company Sal Pharma for its Hyderabad facility for misbranding and deviating from good manufacturing norms.
SBI directors
• Mumbai, May 7: The State Bank of India has invited applications for appointment of four independent directors to its central board who will be elected by the public shareholders on June 15.
Fund outflow
• New Delhi, May 7: Foreign investors have pulled out around Rs 1,700 crore from the stock markets in the last four trading sessions amid global weakness triggered by a renewed slide in crude prices.
RuPay cards
• New Delhi, May 7: The National Payments Corporation of India, the nodal agency for digital payment systems in the country, will soon launch RuPay credit cards for which it has brought in a few banks.
