According to insiders, the induction of Jai Anshul would coincide with the birthday of the late patriarch of Reliance group, Dhirubhai Ambani, in the last week of December.
For banks, the package will limit the burden of provisioning for stressed loans. Besides, the proposed restructuring package for MSMEs with a credit of up to Rs 25 crore is expected to provide a breather to units from this sector.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
If a name does not unify the three, there could be continued clash of identities, which could splinter the brand even before it takes shape, say Abhijit Lele and Nikhat Hetavkar.
Governments that did not respect the central bank's independence would sooner or later incur the wrath of financial markets, ignite economic fire, and come to rue the day they undermined the regulatory institution, Deputy Governor Viral Acharya warned.
The problem for the NBFC sector is the funding inertia by banks and not lack of funds.
Based on internal evaluation and legal opinion, the management was of the opinion that the company has the ability to ultimately recover the aforesaid ICDs
The current episode highlights the structural vulnerabilities in the liquidity management practices of Indian NBFIs
Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms
PSB executives said loans to group holding company IL&FS and entities might still be treated as "standard".
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
Just before the 2008 financial crisis made headlines, Indian companies were on a global buying spree. In the fifth part of the series, Dev Chatterjee and Krishna Kant discuss how the crisis came as a black swan event for some, changing the mood from exuberance to despair.
Vijaya Bank assured employees that the service conditions 'will remain unaffected and staff benefits retained'
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
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