Dev Chatterjee

All stories by Dev Chatterjee

Voda Idea to pay AGR dues, but may not be able to go on

Voda Idea to pay AGR dues, but may not be able to go on

Rediff.com2 days ago

Vodafone Idea, which reported a loss of Rs 6,439 crore in the December quarter, said it had received letters from the department of telecommunications (DoT) directing immediate payment of dues amounting to Rs 54,000 crores after the SC judgment. "The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR, as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," it stated.

Corporate tax growth of 12% for FY21 'unrealistic'

Corporate tax growth of 12% for FY21 'unrealistic'

Rediff.com3 Feb 2020

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.

Globalisation is making way for 'slowbalisation': Birla

Globalisation is making way for 'slowbalisation': Birla

Rediff.com15 Jan 2020

'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.

SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition

SBI, other PSBs to lend Rs 4,000 cr to Patanjali for Ruchi Soya acquisition

Rediff.com17 Dec 2019

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.

India's economic slowdown will reverse in coming quarters: Mukesh Ambani

India's economic slowdown will reverse in coming quarters: Mukesh Ambani

Rediff.com30 Oct 2019

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.

Should BMW buy JLR from Tata Motors?

Should BMW buy JLR from Tata Motors?

Rediff.com19 Sep 2019

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.

Yet another sign that economy is in bad shape

Yet another sign that economy is in bad shape

Rediff.com11 Sep 2019

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.

Tata Sons AGM okays 1000% dividend payout

Tata Sons AGM okays 1000% dividend payout

Rediff.com24 Aug 2019

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.

Banks should pass on rate-cut benefits to spur investment, says India Inc

Banks should pass on rate-cut benefits to spur investment, says India Inc

Rediff.com8 Aug 2019

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.

Fear grips financial sector as DHFL defaults on payment

Fear grips financial sector as DHFL defaults on payment

Rediff.com7 Jun 2019

Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.

Mukesh Ambani's personal firms also selling assets to cut debt

Mukesh Ambani's personal firms also selling assets to cut debt

Rediff.com6 May 2019

Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.

Anil Ambani's Reliance group slams Rahul Gandhi for his 'malicious lies'

Anil Ambani's Reliance group slams Rahul Gandhi for his 'malicious lies'

Rediff.com6 May 2019

Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.

Jet board members liable for the crisis

Jet board members liable for the crisis

Rediff.com2 May 2019

Independent directors were supposed to safeguard the interest of all stakeholders.

Why India's forex kitty is all set to swell

Why India's forex kitty is all set to swell

Rediff.com24 Apr 2019

Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.

Voting rights on 34% of Wipro shares are still with Premji family

Voting rights on 34% of Wipro shares are still with Premji family

Rediff.com15 Mar 2019

The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.

Patanjali Ayurved revises offer for bankrupt Ruchi Soya

Patanjali Ayurved revises offer for bankrupt Ruchi Soya

Rediff.com13 Mar 2019

The revised offer will mean the lenders will have to write off 60 per cent of their dues.

More trouble for Anil Ambani as lenders may not bail out RCom

More trouble for Anil Ambani as lenders may not bail out RCom

Rediff.com23 Feb 2019

In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.

ICICI Bank board draws flak for giving clean chit to Chanda Kochhar

ICICI Bank board draws flak for giving clean chit to Chanda Kochhar

Rediff.com31 Jan 2019

A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.

Jet Air lenders likely to write off up to 25% of loans

Jet Air lenders likely to write off up to 25% of loans

Rediff.com18 Jan 2019

Under the resolution plan, the lenders would end up having a sizable portion of shares in the airline, if their boards of directors agree to convert part of their debt into equity.

All you want to know about Angel tax

All you want to know about Angel tax

Rediff.com15 Jan 2019

What is worrying is that this year, angel investments and seed funding deals have fallen by 40 per cent, ringing alarm bells in the start-up community in India.

Wadias to continue legal battle for Jinnah House

Wadias to continue legal battle for Jinnah House

Rediff.com14 Jan 2019

Dina Wadia, Jinnah's only daughter and Nusli Wadia's late mother, moved the high court in 2007 to regain control of the estate.

Why Kumar Mangalam Birla is the undisputed king of India's cement sector

Why Kumar Mangalam Birla is the undisputed king of India's cement sector

Rediff.com4 Dec 2018

The acquisition of the debt-laden Binani has catapulted Birla-owned UltraTech to the top spot in India, leaving it free to turn attention to overseas market

Anil Ambani inducts younger son into RInfra board

Anil Ambani inducts younger son into RInfra board

Rediff.com26 Nov 2018

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.

Loans of IL&FS arm gets red-flagged by auditor

Loans of IL&FS arm gets red-flagged by auditor

Rediff.com17 Oct 2018

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

IL&FS requires Rs 30,000 crore to get back in business

IL&FS requires Rs 30,000 crore to get back in business

Rediff.com5 Oct 2018

Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms

Aditya Birla, US firm Vrde Partners in $1-billion JV for stressed assets

Aditya Birla, US firm Vrde Partners in $1-billion JV for stressed assets

Rediff.com30 Aug 2018

Vrde currently manages about $14 billion globally, and has invested nearly $500 million in India in the past five years

Adani group, RIL, Tata lead race to buy bankrupt firms

Adani group, RIL, Tata lead race to buy bankrupt firms

Rediff.com29 Aug 2018

Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.

The UK businessman saving Indian companies from insolvency

The UK businessman saving Indian companies from insolvency

Rediff.com12 May 2018

Sanjeev Gupta of Liberty House, a global supplier of metals and engineering solutions, who has emerged front-runner for a number of stressed companies, plans to fund a string of companies through a mix of equity and debt.

Tata Sons asks Sivasankaran to pay back Rs 700 crore loan

Tata Sons asks Sivasankaran to pay back Rs 700 crore loan

Rediff.com9 May 2018

Siva group defaulted on payment in 2016 and is also facing CBI investigation

Company set up by Kochhar bros failed to repay Rs 30 crore loans

Company set up by Kochhar bros failed to repay Rs 30 crore loans

Rediff.com19 Apr 2018

Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group

Rajiv Kochhar's Avista Advisory earned Rs 300 crore in the last four years

Rajiv Kochhar's Avista Advisory earned Rs 300 crore in the last four years

Rediff.com18 Apr 2018

Avista helped some companies restructure their debt in such a way that overseas investors had to take a steep haircut

Deepak Kochhar, the man in the muddle

Deepak Kochhar, the man in the muddle

Rediff.com10 Apr 2018

How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.

Deepak Kochhar, the man in the muddle

Deepak Kochhar, the man in the muddle

Rediff.com10 Apr 2018

How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.

Videocon paid ICICI Bank dues worth Rs 1000 cr till Dec last year

Videocon paid ICICI Bank dues worth Rs 1000 cr till Dec last year

Rediff.com6 Apr 2018

NuPower will return loan with interest to consumer durables major by 2021

Insolvency: Uttam Galva seeks 50% haircut. Will SBI oblige?

Insolvency: Uttam Galva seeks 50% haircut. Will SBI oblige?

Rediff.com19 Mar 2018

Uttam Galva Steels is a part of the Reserve Bank of India's second list of cases, which will be referred to the bankruptcy tribunal for insolvency proceedings after lenders failed to resolve the account by December 2017.

PNB scam: Bank ignored auditors' warning

PNB scam: Bank ignored auditors' warning

Rediff.com28 Feb 2018

The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.

Bidders for stressed assets seek level playing field

Bidders for stressed assets seek level playing field

Rediff.com16 Feb 2018

The code says the process is intended to balance the interests of all stakeholders and the resolution plan is also required to make a statement as to how it has dealt with these interests.

India's Super Rich got richer in 2017

India's Super Rich got richer in 2017

Rediff.com8 Jan 2018

Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.

India Inc's new investment proposals down to 13-yr low in Q3

India Inc's new investment proposals down to 13-yr low in Q3

Rediff.com2 Jan 2018

Companies announce Rs 768 bn worth investments in Dec quarter versus Rs 1.15 trn in Sep quarter

Modi may now focus on reforms; give sops to taxpayers

Modi may now focus on reforms; give sops to taxpayers

Rediff.com19 Dec 2017

CEOs expect populist measures in the Budget, to help the poor and marginalised, who make up for the largest section of voters.

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