Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
Finance Minister Nirmala Sitharaman presented her third Budget on February 1.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Despite the Indian government's recent efforts anecdotal evidence indicates that there has been little change in the extortionist behaviour of a significant proportion of tax and police officials, says Jaimini Bhagwati.
Lack of decisiveness and courage to deal with PSBs may turn out be the biggest impediment to the Modi government's economic initiatives, says Debashis Basu.
Recent tribunal rulings open prospects of large haircuts and barriers to auctioning of personal guarantees, among other issues
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
These companies had an accumulated loss of Rs 55,656 crore (Rs 556.56 billion) in 2012-13.
Bankruptcy proceedings are going at a slower pace than what the bankers had envisaged and many cases have gone beyond the 270-day timeline set under the IBC mainly because of litigation.
Retaining the GST rate assumes importance since states are under pressure to increase their revenues, hit hard by lockdown. Also, the Centre has not fully compensated states for their revenue losses on account of GST for 2019-20.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
The Duncans Goenka group is in a spot of bother over the death of workers and non-payment of dues to employees.
Lenders say settlements will cross over 100 accounts in the March quarter.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
Industrialist Pawan Ruia's (think Dunlop and Jessop) arrest this month for cheating and criminal breach of trust marked a new low, but the tide had been turning against him for a while now. Ishita Ayan Dutt & Avishek Rakshit report.
'Debt mutual funds are a good option now because interest rates are coming down.' 'Retail investors must put a majority portion of your money in short-term debt funds (1 to 3 years) and only a small portion in actively managed dynamic funds.'
No tyres of any description have rolled out of its factories in Sahagunj (West Bengal) or Ambattur (Tamil Nadu) since 2011 and 2012, respectively.
Kalanithi Maran, the former promoter of Spicejet, has moved the Delhi High Court against the airline.
Getting the first tyres out from the Sahaganj plant will still require a lot of effort, but with the state government on its side, the hopes are high.
'Real estate loans are given in the garb of retail loans, sourcing money cheap from the NHB refinance window.' 'This loophole is being plugged,' notes Tamal Bandyopadhyay.
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
'There will always be hiccups given that the Namami Gange programme is spread over different sectors and involves several agencies.'
Let all the stakeholders, especially the government, remember that if the Make in India lion needs to roar and rise again, it won't happen unless India Inc rises too, points out Shekaar Subramanian.
The choice clearly is between prompt corrective action and slow but sure destruction, says Tamal Bandyopadhyay.
British India Corporation employs about 1,800 people
The government has provided a long-term vision.
The new Companies Bill will boost such spending by both public and private companies. Praful Patel, Union minister for heavy industries & public enterprises, speaks to Business Standard on the issue.
Hers is a rags-to-riches story for the ages, peppered with risks, determination and strokes of luck.
For all the blame-game over the flood preparedness in Chennai and elsewhere in Tamil Nadu and Puducherry, this is not the first of its kind. Nor would it be the last, given the nature of the north-east monsoon, says N Sathiya Moorthy.
Once these banks start showing losses, they will not be able to pay dividends to the government nor pay taxes, which will further aggravate the situation for the government as its return on investment as an investor would be very negligible for the next few years, says M V Subramanian.
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