Vijay Mallya: Controversial businessman Vijay Mallya’s troubles mounted further on Wednesday, with the Supreme Court issuing notice to him seeking his response within two weeks on pleas filed by a consortium of banks demanding direction for freezing his passport and his presence in the court. However, what came as a surprise was the revelation by attorney general Mukul Rohatgi that Mallya had left the country a week back and was probably in London. (Reuters) [09-03-2016]

Hindustan Unilever Ltd: Ending one-and-half-decade-old legal wrangling, FMCG major Hindustan Unilever Limited (HUL) has finally agreed for a settlement to provide undisclosed ex-gratia amount to toxic mercury impacted ‘victims’ who had been employed at its now-defunct thermometer factory at Kodaikanal in Tamil Nadu. HUL in a statement on Wednesday said that the company has signed an agreement with Pond’s HLL ex-Mercury Employees Welfare Association, representing the ex-employees of the thermometer factory in Kodaikanal, for the settlement of the issue. (Reuters) [09-03-206]

Monsanto: India cut the royalties paid by local firms for Monsanto's genetically modified cotton seeds by nearly 70 percent on Wednesday, ignoring a threat by the world's biggest seed company to leave if it did.The move follows complaints from local seeds companies that Mahyco Monsanto Biotech (India)(MMB), a Monsanto joint venture with India's Mahyco, was charging high royalties. (Reuters) [09-03-2016]

Indian Railways: Railways has suffered a loss of Rs 55.92 crore due to damage to property, cancellation of 2,314 trains and tickets were cancelled during the recent Jat agitation, Railway Minister Suresh Prabhu said on Wednesday. “The total loss suffered by Railways on account of damage to property and cancellation of tickets during the recent Jat agitation is about Rs 55.92 crore,” he said in Lok Sabha. (PTI) [09-03-2016]

Jayant Sinha: Despite the government’s efforts at speeding up tax refunds, claims worth a staggering R1.5 lakh crore are still pending with the income tax department. “As on February 27, 2016, claims of refund amounting to R1,50,529 crore are pending in the income tax returns filed by the taxpayers for various assessment years,” minister of state for finance Jayant Sinha said in a written reply to the Lok Sabha recently. A major part of the pending refunds pertains to the current year where returns have been filed in the last few months, he added. (PTI)

Johnson & Johnson: Months after a 62-year-old woman in the US died of ovarian cancer linked to prolonged use of Johnson & Johnson baby powder, the Maharashtra Food and Drug Administration (FDA) has slapped a notice on the company. It has also sent for lab tests eight samples of the baby powder it has acquired from across the state. Additionally, the FDA will also get talcum powder of other brands such as Shower to Shower, Dermicool, Ponds and Nycil tested to ensure no heavy metal is present in the products. (Reuters) [09-03-2016]

Crompton Greaves: Crompton Greaves shares surged as much as 8.77 per cent in the early trade on Wednesday after it informed stock exchanges that it is selling it overseas transmission and distribution (T&D) business to First Reserve International Ltd, a US Private Equity Fund, for an enterprise value of euro 115 million. At 10.35 am, shares of Crompton Greaves were trading 5.12 per cent up at Rs 146.70. The scrip opened at Rs 140.95 and has touched a high and low of Rs 151.80 and Rs 140.35, respectively, in trade so far. Later, the share price of the company closed 8.81 per cent up at Rs 151.85. [09-03-2016]

Tata Motors: Tata Motors' newly appointed chief Guenter Butschek on Thursday said that the company will undertake a transformation exercise, which would include a relook at brand positioning, revamping products and increasing its global footprint, in order to be "future ready". "Tata Motors will undergo a major transformation process in order to get future ready...We would like to effectively review the entire setup of Tata Motors as far as its structure is concerned, as far as the processes are concerned and when it comes to manufacturing, as far as the equipment and tools are concerned," he told reporters in his maiden media interaction. (Reuters)

After finding Aspen Projects India's and its directors illegally raising funds from the public, Sebi had earlier asked them to refund the money. (Reuters)