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.
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.
Tax experts said that in FY17 around 80,000 people had reported incomes of over Rs 1 crore
At the end of 2018-19, the Tata group had a consolidated debt of Rs 2.77 trillion. Tatas not only plan to avoid big-ticket acquisitions for now, the group's main focus will be on improving key metrics and reduce debt, say Shally Seth Mohile & Dev Chatterjee.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
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.
Almost 2,000 companies whose private provident and pension funds have invested in non-convertible debentures of IL&FS group firms are staring at the prospect of booking losses to the tune of Rs 9,000 crore or more if the interest income is added.
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.
Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.
More asset sales may be only way out, though most of the group companies' ratings have been downgraded and their combined market value is now a fraction of their combined debt.
Independent directors were supposed to safeguard the interest of all stakeholders.
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.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
Lenders say settlements will cross over 100 accounts in the March quarter.
Bankers said the SC verdict might prolong the resolution process and force lenders to bring back cases to the drawing board.
The elections held in April-May 2019 will be an important determinant of future growth and investment.
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
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.
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