The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
He says that while 30 per cent of parts must be locally sourced, the supply doesn't yet exist in India to support that
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
The common denominator: They were predominantly Gujarati, mostly male, and either related by blood or very well-known to Nirav.
With this rejig, Mindtree's board will now have 12 board members from eight.
Apart from navigating the bank through the Covid crisis, Jagdishan may also have to deal with the latest development on the auto loan lending practice scam. He will be expected to deliver consistent profit growth of 20 per cent-plus quarter after quarter, irrespective of the operating environment.
Apart from favipiravir and remdesivir, its key Covid-19 products, DRL has already launched nutraceutical products and hand sanitisers during the pandemic.
Kumar joined KPMG in 1995 as a Finance Management Leader and from 2005 until his retirement in September 2013 he led the firm's West Coast Finance Management Consulting practice.
According to a calculation by the government, India's airlines currently have 633 aircraft of which they may operate only 200.
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.
Licence suspension would be revoked only after stakeholders are convinced of the airline's revival plan, say sources.
Tesco, which has a franchise agreement with Trent Hypermarkets for the latter's back-end operations, is believed to be interested in investing in those hypermarkets
The Aditya Birla group, led by Kumar Mangalam Birla, has taken charge of its mutual fund joint venture with Sun Life Financial of Canada by buying 1 per cent stake from the latter.
Consecutive quarters of missed targets have alarmed the investor community.
Wanted diamond merchant Nirav Modi on Thursday lost his fight against being extradited to India as a United Kingdom judge ruled that he can be sent back to face charges of fraud and money laundering in the estimated $2 billion Punjab National Bank scam case.
Why Sumant Sinha, chairman & CEO, ReNew Wind Power sees value in the renewable energy business.
The high court imposed various bail conditions on him, including that he shall not tamper with the evidence or influence witnesses, directly or indirectly.
While companies continue to face regulatory pressure leading to higher costs, they see an uptick from the launch of differentiated and high-margin products
The central bank is engaged with other financial institutions for investment as part of the scheme to resurrect Yes Bank under RBI imposed moratorium since March 5.
There is a dearth of talent in the Indian banking industry. A testimony to this is the two new CEOs in the private sector -- Sandeep Bakhshi in ICICI Bank Ltd and Amitabh Chaudhry in AXIS Bank Ltd -- have come from the insurance sector, says Tamal Bandyopadhyay.
'Industry observers are certain the next attempt will succeed even if they have to browbeat someone into buying as the government has put its might behind it,' predicts Anjuli Bhargava.
A local court on Friday extended the judicial remand of Satyam Computer founder B Ramalinga Raju, his brother Rama Raju, former CFO of the IT firm V Srinivas and two former auditors of PricewaterhouseCoopers by 14 days.
With companies keen on maximum utilisation of employees and low tolerance to poor performance in the backdrop of global economic turmoil, nearly 2,100 employees in software firm Infosys have faced the axe.
ICICI Bank on Friday reshuffled its management as Nachiket Mor, an executive director, decided to quit. The board, at its meeting on Friday, promoted deputy managing director Chanda Kochhar as the joint managing director and chief financial officer (CFO) of the bank. The incumbent Group CFO Vishakha Mulye has been made executive director of the bank's subsidiary, ICICI Lombard General Insurance.
It is Aditya Mittal, son of steel tycoon Lakshmi Mittal and CFO of ArcelorMittal, who persuaded his father to accept a shareholding of below 51 per cent in the company post its takeover of European giant Arcelor. Before Arcelor takeover, Mittal family held an 88 per cent stake in Mittal Steel. Aditya, who visited a steel plant first at the age of eight, joined his father in early 1997, after working for less than a year as an investment banker at CSFB.
Just hours after returning to Mumbai, Ravi Kant, managing director, and C Ramakrishnan, CFO of Tata Motors addressed the press on a conference call. Excerpts from the call.
T K has been an integral part of the organisation's leadership for years, says Azim Premji.
IT major Infosys on Tuesday showed the door to Abraham Mathews, CFO of its BPO subsidiary, for not complying with the code of conduct, while CEO Gautam Thakkar has resigned taking responsibility on moral grounds.
Aditya Mittal, the son of LN Mittal, the family that pulled off the audacious Arcelor acquisition just last year proves that a businessman of Indian origin can actually rule the world.
The acquisition is likely to be followed by the merger of Shaw Wallace & Company with group flagship United Spirits.
CFO of Lanco Group, Suresh Kumar explains how interest rate hikes would affect their project.
CFO of Marico Industries Milind Sarwate believes that the FMCG sector has emerged out of the rut that it was in until a few years ago.
Sources said Mallya has also been asked to furnish documents related to his personal finances
The Mumbai-headquartered company now has an employee strength of 84,000 serving 540 clients across 46 countries. Its revenues are at $2:7 billion.
'Abid Neemuchwala has demonstrated a deep understanding of technology, business vision, sound judgment, and an innate ability to bring people together.'
Pai said more and more people -- whether they are employees, or investors or others -- are coming to the conclusion that this Board has to go and a new one has to come.
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