Piramal Enterprises' bid for debt-ridden DHFL received the most votes from lenders at the close of the voting process on Friday, sources said. Piramal Enterprises' bid received 94 per cent votes as compared to 45 per cent for the US-based Oaktree Capital. Voting was done on various parameters, including qualitative and quantitative.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
For now, the concerns over bad loans have taken a back seat; a bigger challenge for the banking community is credit growth, explains Tamal Bandyopadhyay.
It is alleged that Kapoor's family received kickbacks for Yes Bank's investment in DHFL's debentures.
Sixty-five workers were killed and over 100 others injured today when an explosion ripped through a metal factory in China's eastern Jiangsu Province, causing widespread damage to the sprawling industrial unit.
Ola has reported its first operating profit of Rs 89.82 crore for 2020-21, even as the ride-hailing company's revenue declined 65 per cent to Rs 689.61 crore amid COVID-19 induced lockdowns. As per regulatory documents filed by ANI Technologies - the parent company of Ola - it had logged standalone operating profit (profit before finance cost, depreciation, amortisation and tax (EBITDA)) of Rs 89.82 crore in FY21 on a standalone basis, while it had registered a loss of Rs 610.18 crore in the preceding fiscal year.
OSCO E&C said Adani had asked it to halt its design work as of July 16, with tentative plans to resume work in early October.
Four Hinduja brothers -- Srichand, Gopichand, Prakash and Ashok -- had in 2014 signed on a document saying the assets held by one brother belong to all, and that each of them will appoint the others as their executors. But now family patriarch Srichand Hinduja, 84, and his daughter Vinoo want the letter to be declared of "no legal effect" and the family's assets be separated as per his wish of 2016.
The department of revenue in a notification on Wednesday said anti-dumping duty is being imposed for six months on the import of wire road of alloy or non-alloy steel from China.
Retail giant Walmart has the world's largest number of employees.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Case in the US relates to an Airbus Corporate Jet
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
China's FDI growth saw ups and downs in the first 11 months of 2015.
The system has passed preliminary examination by national railway test authorities and has been installed on a new bullet train produced by CSR Qingdao Sifang Co Ltd in Shandong Province.
"This is a huge positive and is expected to bring in $8-10 bn capital in the industry."
Representatives of Apple appeared in a Shanghai court on Tuesday to respond to the case filed by Shanghai Zhizhen Network Technology Co, the developer of a voice technology called Xiao i Robot.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A British court on Monday granted a bankruptcy order against Vijay Mallya, paving the way for a consortium of Indian banks led by the State Bank of India (SBI) to pursue a worldwide freezing order to seek repayment of debt owed by the now-defunct Kingfisher Airlines. "As at 15.42 [UK time], I shall adjudicate Dr Mallya bankrupt," Chief Insolvencies and Companies Court (ICC) Judge Michael Briggs said in his ruling during a virtual hearing of the Chancery Division of the high court. "I have to decide if there is a real prospect of payment of petition debt in full within a reasonable period of time... there is insufficient evidence that [Mallya's asset realisations in India] will pay the debt in full within a reasonable period of time," Judge Briggs noted, in reference to defence arguments pointing to a restoration process in India following a Prevention of Money Laundering Act (PMLA) court order for the attachment of Mallya's assets.
In June alone, property investment was up only 3.5 per cent from a year ago.
Manufacturing of consumer goods, like food and liquor continued to improve in September.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
Disgraced Chinese Communist Party leader Bo Xilai sprang a surprise on the first day of his high profile trial on Thursday by defiantly going back on his earlier testimony, calling a witness a "mad dog" and describing his wife's evidence against him as "laughable".
Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.
IPO-bound mobility platform Ola, said it has successfully raised $500 million via a Term Loan B (TLB) from marquee international institutional investors. This term loan has no impact on the valuation of Bhavish Aggarwal-led Ola. The Bengaluru-based firm recently raised $139 million. This is part of a $1 billion funding round for which the company is in talks with investors, increasing its valuation to about $7.5 billion, according to the sources.
Responding to a question on the Rajasthan government's claim that there is a shortage in COVID-19 vaccine stock, Union Health Secretary Rajesh Bhushan said the central government regularly monitors the availability of vaccine supply in all states and UTs and their consumption on a daily basis.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Japan's Olympic delay has upended years of careful planning by organisers and spawned costly headaches for small businesses, hotels and even pro baseball teams, compounding a $12 billion price tag. New dates have yet to be set, leaving sponsors and businesses uncertain and scrambling.
The police claimed there were several WhatsApp chats that revealed Kundra, 45, the husband of Bollywood actor Shilpa Shetty, was involved in the financial dealings of the app and its contents.
Rediff readers tell us how they are celebrating the festival.
Mumbai police has launched an initiative to raise awareness among the citizens about allowing swift plying of ambulances through traffic snarls so that they proceed to hospital without any hassles and patients promptly get medical aid.
Rajesh Karkera/Rediff.com heads to south Mumbai to discover why Kitab Khana is considered one of the best bookshops in the world.
The footprints of Indian-origin corporate executives at multinationals is expanding, with Sandeep Kataria taking over the reins of footwear major Bata as its global chief executive officer. From FMCG majors to IT titans, Kataria joins the league of Indian-origin executives who have climbed the highest echelons of corporate across diverse sectors globally. From Nooyi to Pichai to Nadella, the list of such people at the helm of multi-billion dollar enterprises is long.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
The pint-sized i-Road has two front wheels that move up and down independently of each other.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Reaction to surge in applications, seemingly to hide identity as chit funds.
The arbitration of any court is legally binding and the government) can approach the Singapore high court.
Penalty must act as a deterrent. If it is too low, it could encourage the regulated entities to lap up penalty instead of complying with the norms, suggests Tamal Bandyopadhyay.
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