The increased tax target comes at a time when consumer spending and sales growth are slowing down and most companies are not investing in new capacities.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Bankers said they are looking outside the bankruptcy courts and will be able to resolve a few debts in the power sector before January-end.
'While the march of globalisation is perhaps inevitable, what is certain is that the world is no longer flat as, the emerging pattern of trade is more regional. 'This new trend of 'slowbalisation' raises some questions that challenge conventional wisdom on how businesses should distribute their capacities,' Birla said.
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
The World Bank report said Brand Northeast would build on elements such as healthy living, environmental sustainability, social responsibility, service orientation, among others.
SBI and other public sector banks have decided to lend Rs 4,000 crore to Patanjali Ayurved for the acquisition of Ruchi Soya, which was facing bankruptcy proceedings under the Insolvency and Bankruptcy Code. The money lent by banks will help the PSBs to settle their exposure to Ruchi Soya with a haircut of 65 per cent. Banks led by SBI and others had earlier made claims of over Rs 12,146 crore against Ruchi Soya after the company failed to repay its loans.
Collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group.
A dedicated jazz club is just what Kolkata needed to get things going. And Skinny Mo's has announced its arrival to the enthusiastic city.
Despite sanctioning the loans, bankers are worried whether to disburse the loan because of absence of an investment grade rating.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
While Waryam Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders.
BMW is over-capitalised and is awash with cash and it could quickly lower JLR's investment costs and raise margins by leveraging its own platforms, powertrains, purchasing scale and quality control.
India Inc's investment project announcement falls to Rs 11.3 trillion. In the coming months, the pace of investments would depend on how soon consumption demand picks up and private sector investment ramps up investment in infrastructure.
The announcement evoked a sharp response from the UK and Ireland's largest trade union, Unite, which said it would fight for every job and demanded that there would be no compulsory redundancies from Tata Steel.
The escalating trade war between China and the US could be an opportunity for India.
The higher dividend will help Tata Trusts, which owns 67 per cent stake in Tata Sons, to invest in its charitable activities. The total dividend outgo will be Rs 404 crore.
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
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