Valuers have found almost no assets to pay for their claims against the Videocon group that entered the insolvency process in 2018. But the dissenters suggest that the money is elsewhere, possibly in the group's oil and gas assets, which are not part of the group's bankruptcy case.
According to industry players, over 50 FMPs have exposure to Zee Group companies.
India-born US district judge Amit Mehta, an Obama appointee, has been assigned the justice department's crucial lawsuit against internet search giant Google.
While the basic premise and spirit of the Code will remain the same, the commas and the full-stops in the draft report being prepared by a high-level committee will make interpretation of the law simpler
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
It said the searches that were launched on July 22 in nine cities like Bhopal, Indore, Delhi, Ahmedabad, Noida and some others are "continuing and further investigations are in progress."
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
The consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital -- which has won the bid to revive Jet Airways -- on Monday said it expects to start operating the airline by the summer of 2021.
Guilty Minds has too much going on to wolf down it all in one big binge watch session, notes Sukanya Verma.
Pawar said he was upset that his three sisters were dragged into this.
William S Pinckney was arrested by the Kerala police for alleged violation of the Prize Chits and Money Circulation Schemes (Banning) Act.
Markets regulator Sebi on Tuesday proposed to rationalise the definition of 'promoter group' and move to the concept of 'person in control' as well as reduce the minimum lock-in periods for promoters' and other shareholders post an IPO. In a consultation paper, the watchdog has also suggested streamlining the disclosures requirement of group companies. The Securities and Exchange Board of India (Sebi) has sough comments from public on the proposals till June 10.
The Narendra Modi-led government has issued around 50 fresh guidelines easing conditions for industry in about six months, beside launching an online system for applying environment clearances.
With the Supreme Court not getting into the valuation part and leaving it to the two parties, lawyers said there was nothing much for Mistry Group to negotiate.
Vikram Bakshi on Friday offered to sell his 50 per cent stake in Connaught Plaza Restaurants, the joint venture with McDonald's that operates fast-food restaurants in north and east India, for Rs 1,800 crore (Rs 18 billion).
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
Leader of Opposition Mallikarjun Kharge and some other members sought that the bill be referred to a standing committee for scrutiny.
For financial sector companies setting up shop in India, as of now the go-to regulators are obviously Sebi and the RBI with carve-outs for IRDAI or possibly PFRDA. But this could change soon with the International Financial Services Centres Authority, observes Subhomoy Bhattacharjee.
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
A draft proposal by the sub-committee of the insolvency law committee has recommended that the corporate debtor (CD) may initiate the prepack since it may prove difficult to implement if creditors are allowed to do so without the willingness of the promoter.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
Besides launching 50 products with a refreshed logo, Britannia to issue bonus debentures of Rs 720 crore
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
Somaiya had on Sunday claimed he was barred from entering Kolhapur with the district authorities citing law and order as well as security concerns following his allegations of corruption against Maharashtra Rural Development Minister Hasan Mushrif.
Firm terms lenders' move to appoint monitoring agency 'unwarranted'.
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
Looking beyond the lesser penalty regime, in its 10th year of existence, the CCI needs more branches, according to experts
A paper authored by Rajan said, state-linked banks can be a first step in altering the ownership structure of some PSBs, where the government brings down its stakes to below 50 per cent, creating distance from operations of banks, and improving governance along the way.
As a result, the deadline for filing June quarter results ends on August 15. However, only 1,538 companies out of the 4,000-odd listed firms managed to declare their results within the usual deadline.
'Google and Facebook need to be tamed, their garb of 'Investing in India's future' need to be pulled off,' observes Vibhu Arya.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
The judgment could impact not only Ramdev's widespread ayurveda and herbal products business, but also that of many other pharmaceutical, ayurveda, herbal and cosmetic product manufacturers.
While Indian IT has known what is coming and has a strategy ready to combat it, the same can't be said about the country and the government.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
'... And I don't think it really is that despite a lot going wrong.' 'Naiveté or stupidity or trusting the wrong person, the outcome is the same, which is that the group has gone to trash.' 'I'm not OK with people saying I had a role to play in crooking the system, which is not what I did.'
The manner in which India has allowed the rule of law to be subverted for over eight years is tragic, notes former additional solicitor general of India Bishwajit Bhattacharyya.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Lok Sabha and Rajya Sabha proceedings were adjourned for the day amid protests by the Opposition in both the Houses demanding removal of Ajay Mishra as Union minister and withdrawal of the suspension of MPs.
25% each in the holding company to give them indirect control of 17.5% each in GMR Infra
Without disclosing reasons, ICRA informed the stock exchanges on Thursday, 'The board, after due consideration and taking into account the best interests of the company and its various stakeholders, has decided to terminate the employment of Takkar with immediate effect.'
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