India is ranked best among the BRICS nations, out of which South Africa is 17th, Brazil 35th and Russia at 100. China is much lower at 132nd place.
The previous board of Fortis Healthcare had links with Singh brothers and there was an investigation by law firm Luthra and Luthra into Rs 472 crore that was diverted into other companies.
'When a company goes into insolvency, by definition it means that existing shareholders have been wiped out.'
So far, among the IBC cases, SBI has been able to recover Rs 8,500 crore from Tata Steel's acquisition of Bhushan Steel. Another Rs 1,500 crore is in an escrow account on account of Electrosteel Steels.
Russia's invasion of Ukraine was condemned by the sporting community on Thursday, with President Vladimir Putin's country losing hosting rights for the UEFA Champions League final while Formula One drivers said it was "wrong" to race there this year.
While reasonable safeguards should be built in, there can't be restrictions on the individual's right to leave her/his money to whoever s/he wants, notes Harsh Roongta.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
Market experts said disruptions caused by the pandemic - to businesses as well as the filing process - and the sharp decline in valuations were the reasons behind fewer new companies wanting to tap the capital markets.
The government will investigate every Indian name appearing in an unprecedented leak of financial records, known as the 'Pandora Papers', which alleged that many world leaders have secret offshore stores of wealth.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
'We will resist it.' 'Farmers will not let that happen.'
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
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.
Completing its over a-year-long probe into Saradha scam, the Serious Fraud Investigation Office (SFIO) has submitted its final investigation report to the government, which may soon start prosecution proceedings for numerous serious violations found during investigations.
Enactment of Insolvency and Bankruptcy Code has been instrumental in pushing up India's ranking in the 'Doing Business' report
KPMG's global board will meet in India next week
Under the Companies Act, all the rights of at least 300,000 disqualified directors cease to have any validity.
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
The changes would be the most ambitious overhaul to date of rules governing the liquidation or revival of companies in India.
Legal experts fear such shareholder activism could turn into a class-action suit against Infosys
This will help employers keep a track of the diseases workers could suffer from while doing their jobs.
Around 241 companies were sent for liquidation under the IBC by various NCLT benches and in only 58 cases have the resolution plans been accepted
The market breadth, indicating the overall health of the market was strong
The watchdog would provide an additional option to the existing pricing methodology for preferential issuances.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
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.
As the industrial era wanes, the network era looms, notes Ajit Balakrishnan.
The revised date for phase I and phase II examination for the recruitment of officers in Grade A will be informed in due course.
Besides Aryan Khan, the arrested accused are identified as Munmun Dhamecha, Arbaaz Merchant, Ismeet Singh, Mohak Jaswal, Gomit Chopra, Nupur Sarika, and Vikrant Chhokar.
'We take allegations of bias incredibly seriously, and want to make it clear that we denounce hate and bigotry in any form'
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
China Development Bank takes Reliance Communications to NCLT over loan default
Some experts says that the high net-worth requirement of Rs 50 crore for setting up an IU is a deterrent.
'She violated NSE procedures and rules, corporate governance norms; Chitra acted maybe within her capacity as MD and CEO, but not in the right spirit.'
Weinstein apparently argued that the scandal would blow over but the nine-member board, whose three members had resigned following the allegations, disagreed.
District Judge Samuel Goozee expressed his concern at the late submission of the documents, said to include largely bank statements relating to the diamond merchant's companies, but has agreed to consider the application for their submission.
The Trinamool Congress on Monday wrote to Kolkata Police Commissioner Soumen Mitra seeking 'necessary action' under the law against the Central Bureau of Investigaton officials who arrested three senior party leaders 'illegally'.
The buyout will cost LIC about Rs 100 billion, based on the Rs 248 billion market capitalisation of IDBI Bank as on Friday, and assuming it acquires a 40 per cent equity stake from the government.
The Congress on Monday demanded an independent probe into the issue involving alleged phone tapping of prominent personalities including journalists in India using Israeli Pegasus spyware.
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