While the Hinduja brothers - Gopichand, Prakash, and Ashok Hinduja - did not indicate any move to begin talks with Vinoo Hinduja, top Indian lawyers said mediation would help both sides considering that the letter signed by the four brothers cannot trump other legal documents and challenge the validity of a registered will of SP Hinduja.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
The committee has recommended Rs 8,000-10,000, Rs 13,000-15,000, and Rs 15,000-18,000 including PPE costs for isolation beds, and ICUs with or without ventilator, respectively, to all hospitals. Currently, hospitals are charging Rs 24,000-25,000, Rs 34,000-43,000 & Rs 44,000-54,000 (excluding PPE cost).
Experts say a large part of the expenditure in April was spent on heads such as creating infrastructure for testing capacity and procuring testing kits, among other things.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
ICMR's serological survey, whose findings will be made public next week, suggests that the rate of contagion may be a lot higher in most-affected cities such as Delhi, Mumbai, and Pune.
Nearly half of all coronavirus patients in the country have been cured, taking the recovery rate to over 48 per cent.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
The dispute between RCom and Chinese banks led by ICBC started after Anil Ambani led company defaulted on its loans to Indian as well as Chinese banks. A British court on May 22 asked Ambani to pay nearly $717 million to three Chinese banks within 21 days.
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
'We don't know how complicated things will get with the onset of the monsoon.'
Most feel as the movement of people normalises, the in-patient volumes in hospitals will grow and by the end of May, occupancy should be around 50 per cent, and 75 per cent over a period of time.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
A letter sent out by Delhi government asked all medical directors to provide a written explanation on how the health workers contracted the disease despite wearing protective gear, maintaining safe distancing and taking all precautions.
These are becoming one of the most in-demand commodities in the COVID world with malls, offices, banks, and shops lining up to install the structure at their entrances. The company swamped with these orders is a relatively new one, Chennai-based Nanolife, which has patented its Rajat Bhasma formula or the silver nanoparticles solution as a healthy disinfectant. Sceptics, however, say if a person is potentially exposed to the COVID-19 virus, spraying the external part of the body would not kill the microbe, which is inside the body.
Govt has decided to suspend Sections 7, 9, and 10, which are used to trigger insolvency proceedings for six months or a period not exceeding one year from the date they commence.
'Call it by whichever name, but there is transmission happening between people.'
The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
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