The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
Their offer values Fortis at over Rs 9,000 crore, or around Rs 172 per share.
The new scheme came into effect on Thursday. However, even after a scrutiny assessment, appeals will continue to be done through personal representation.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
Stressed MSME borrowers would be eligible for restructuring of debt, if their accounts were classified standard.
The Infosys saga shows how efforts to remote-control a company by its powerful promoter, even with good intentions, might hurt the entity, says Asish K Bhattacharyya.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
Sections in the draft Personal Data Protection Bill are a blatant violation of the Right to Privacy as guaranteed by the Constitution.
The challenge for BMW is to overtake Mercedes-Benz, which bounced back three years ago to become king of the hill.
The agency on Monday questioned three general managers of the Punjab National Bank who have handled the -International Banking Division and Treasury department of the bank, officials said without revealing their identity.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
Apart from making your purchases on these platforms expensive, it will also mean sellers will have to face the brunt of reduced cash flows amid already low margins for some. Experts said the proposal, which will take effect on April 1, 2020, and will be inserted as a new section in the Income Tax Act, is expected to affect the working capital of e-commerce companies and reduce cash flows for e-sellers.
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
The British home secretary has granted permission for jeweller Nirav Modi's extradition to India. During their arguments in a London court, his lawyers claimed Modi suffers from mental illness and is a suicide risk if he was sent to Mumbai's Arthur Road jail. A fascinating excerpt from Danish Khan and Ruhi Khan's Escaped: True Stories Of Indian Fugitives In London.
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
Alibaba will acquire 25 per cent stake in One97 Communications.
'Birla only made representations to then PM for coal blocks allocation.'
'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
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