The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
However, despite the reduction, their interest rates would be about 50-100 basis points higher than those of banks
Launched this April, the FCG business will end the year with a turnover of Rs 500 crore
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
As the BJP snaps at its heels, can the Communists stay relevant in the electoral game?
Namrata Acharya finds out more about a movement aimed at preserving not only the mansions of north Calcutta and the grand colonial buildings of central Calcutta, but also the architecturally modest, yet unique, houses of south Kolkata.
'Last year, someone told us you must remove 's' otherwise you won't perform well and we didn't perform well.' 'Obviously, that's not the reason for not performing well, but it didn't hurt us to remove the 's'.'
The BJP doesn't want to focus entirely on an anti-Mamata campaign.
Close to 20 regional stock exchanges, including the big exchanges of Delhi, Chennai, and Bengaluru, have voluntarily exited in the face of SEBI's stringent regulations. Namrata Acharya finds out what makes CSE continue to fight its lone battle.
Srei Infrastructure's vice-chairman -- and former Assocham president -- Sunil Kanoria discusses the Kanoria businesses and his impression of the Modi government with Ishita Ayan Dutt and Namrata Acharya.
With 13 properties on board, The LaLit is now keen to take its hospitality school -- The Lalit Suri Hospitality School -- in Faridabad, Haryana, to the next level.
In December 2016, RBI had granted additional 60 days for repayment of certain loans
Any erosion in the TMC, may benefit the BJP, reports Ishita Ayan Dutt.
Aided by the new initiatives of the government, there has been a huge drop in imports
These banks are finding it hard to pick up seasoned bankers at the pay they are offering
The cost of production of onion is around 800-900 per quintal, while prices are hovering around 500 per quintal across major wholesale markets.
In Kolkata, there is a community of chartered accountants, and it is easy to find 'directors', who for Rs 5,000 will sign anywhere.
'This is purely a brand sale. It includes the Ambassador with its variants. Peugeot is likely to relaunch the brand with multiple variants.'
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