The National Company Law Tribunal (NCLT) has approved the resolution plan of Twin Star Technologies -- a promoter entity of the Vedanta Resources group -- for the Videocon group. But it has pointed out that the successful resolution applicant is "paying almost nothing" as the amount offered is only 4.15 per cent of total outstanding claim. It noted the hair cut for all the creditors is 95.85 per cent and suggested to both committee of creditors (CoC) and the successful applicant an increase in the payout.
Congress leaders have hit out at the BJP governments at the Centre and in Karnataka, questioning its timing.
Milan Luthria's Once Upon A Time In Mumbai Dobaara is a complete drag, unintentionally comical and painfully verbose unlike the prequel which hit quite a few right notes, notes Sukanya Verma
The cities where services have resumed include Bengaluru, Mysore, Pune, Ludhiana, Noida, Gurugram, Raipur, Lucknow, Hyderabad, Kolkata, Ahmedabad and Mumbai. Industry experts believe it would be at least 4-5 days before the backlog of orders can be cleared.
Australia head coach Justin Langer feels the Indian Premier League is an excellent platform to prepare for the T20 World Cup but conceded that health is paramount as the the T20 league may become another casualty of the COVID-19 pandemic. The 13th edition of IPL was originally scheduled to start on March 29 in Mumbai but it was postponed to April 15 to contain the spread of the COVID-19 pandemic, which has killed more than 24,000 people worldwide.
The Reserve Bank of India (RBI) on Friday kept the key repo rate unchanged at 4 per cent in view of rising inflation and faint signs of economic growth amid the gradual lifting of coronavirus related countrywide lockdown.
Realtors split on possibility of price fall, gold may replace cash in secondary deals.
'We were taking the Starbucks experience from the store to the home.'
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Banking operations including cheque clearance across the country got affected on Monday as bankers under the aegis of the United Forum of Bank Unions have gone on a nationwide strike to protest against the proposed privatisation of two state-owned lenders.
The correlation between withdrawal of deposits and the Covid death rate is stark, reveals Tamal Bandyopadhyay.
Either drivers were blissfully unaware of the requirement or they hadn't bothered to get one installed in their vehicle.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
Organisations value employees who go beyond their boundaries and step up to the occasion when the need arises.
The humble Rs 100 bill had several takers on an otherwise normal weekday evening across the country on Tuesday night, even as police had to be deployed outside ATMs to control the crowd waiting eagerly to get their hands on the banknote.
Syed Firdaus Ashraf goes to the bank to withdraw cash, a day after high denomination notes were withdrawn, and encounters a veritable battlefield.
Sachin Tendulkar announced his retirement from the cash-rich Indian Premier League soon after Mumbai Indians won their maiden title defeating Chennai Super Kings by 23 runs in the final, in Kolkata.
4 luxury SUVs and documents indicating 'benami' assets of Rs 300 crore have been recovered during income tax raids.
Free provision of food, cash transfers, and jobs in villages see enhanced flow of funds despite a precipitous fall in revenue. Till May, defence spend was nearly 30 per cent less than the previous year.
Defending the timing of Yes Bank's moratorium, Reserve Bank of India governor Shaktikanta Das on Friday assured swift resolution to the issues concerning the beleaguered lender. "The resolution (to Yes Bank) will be done very swiftly, it will be done very fast. 30 days which we have given is the outer limit. You will see a very swift action from RBI," Das told reportters in Mumbai.
Forecasts of a further rise in bullion prices keep Indians away from selling gold.
'Those who looted the nation have fled the country.' 'Those with rooms full of cash have already converted their cash into gold and property.'
The Tata Sons' chief said that world's reliance on China for sourcing goods will reduce, and India will definitely have an opportunity to participate.
It was amusing to hear Minister Jaishankar's argument of tech companies being influential non-State actors. If only he looked at his own party before saying what he did, notes Shyam G Menon.
Daily wagers are running out of resources, including ration and cash, and the state governments might not be able to sustain their needs for a longer period of time, given the lockdown has already been extended until May 3.
A bench headed by Chief Justice S A Bobde refused, however, to stay the controversial provisions of the laws and issued notices to both state governments on two different petitions.
'It makes no sense at all to leave because I have my whole family with me.' 'My wife and children are citizens here.'
With cash shortage and plans going awry, the AirAsia owner is looking to cash out of the venture he built with Ratan Tata in 2013.
'There was no other Lata Mangeshkar, there is none and there won't be any. I will celebrate her life, today and always.'
'That it is happening in the second half of the year, during the festive season, will only encourage many to step up advertising.'
'I did hesitate and was scared, but I decided to save the child as I realised I would have done that if he was my child'
Shedding the stigma around failure, sharing issues with the family and seeking financial assistance from others can help alleviate distress and help people recover faster, says experts.
Prof Ananth Narayan, well known financial expert who works as a faculty member at the SP Jain Institute of Management and Research and the RBI's nominee director on the board of Yes Bank, expects a double-digit contraction in India's GDP this fiscal year. In the first of a two-part interview to Shobha Warrier/Rediff.com, Prof Narayan, below, says, "Giving liquidity and loan to cover the cash flow problem is not sufficient because you are essentially increasing the debt of many of these companies. And they might not be able to bear the burden."
The sudden massive cancellations of Jet have put travel agents and customers in jeopardy
'Corruption is the tree.' 'Black money is the fruit from the tree.' 'This scheme will expose the unaccounted fruits of the tree.' 'But since the tree will continue to stand, the story will continue,' say Pramod Kumar Srivastava, Sanghamithra and Kravya.
The stupidity of someone buying impressions on people meters is like saying the BJP wins elections because the EVMs are rigged. I predict zooming TRPs for Republic TV, says Sudhir Bisht.
The United Kingdom's home department has cleared the extradition of fugitive diamantaire Nirav Modi, who is wanted in an over Rs 13,000-crore bank fraud case, officials said on Friday.
Around 2,500 engineers and 45,000 cash management employees step up efforts to complete the target of recalibrating 12,500 ATMs every day.
Bajaj sold his 18-month-old start-up WhiteHat Jr to Byju Raveendran for $300 million in an all-cash deal - over the video conferencing platform Zoom. The deal is the biggest in the Indian edtech sector by far.
'Nobody will wait now. Everyone will come to deposit their old notes. The confidence is shaken.'
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