The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
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.
The underperformance comes amid liquidity concerns in the non-banking finance companies space and Essel Group default news.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
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.
'The probability of another negative year in 2019 is low.'
Of these 26, Bajaj Finance, Associated Alcohols and Breweries, Garware Technologies, Filatex India, Tasty Bite Eatables, Aarti Industries and GMM Pfaudler saw an over 10-fold surge in price since 2014.
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.
Dina Wadia, Jinnah's only daughter and Nusli Wadia's late mother, moved the high court in 2007 to regain control of the estate.
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
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.
Analysts caution a non-BJP government is not an impossible scenario. In case of a Modi-led coalition, they advise investors to focus on discretionary consumption, select private banks and financials, RIL, housing, and IT.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
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 polls are being viewed as a run-up to the general elections scheduled for May 2019 and will test the popularity of the government and its policies amid rising crude oil prices
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms
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
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.
Even as rising crude oil prices, trade war fears and a sliding rupee cast a shadow on market sentiment, Nischal Maheshwari, chief executive officer for institutional equities and advisory at Centrum Broking, tells Puneet Wadhwa that in the next one year, the outcome of the 2019 general election is a bigger challenge for the market.
