Passenger Vehicle makers are likely to see their cumulative earnings at an operating level erode by Rs 1,800-2,000 crore in the year ending March 2022 on account of the shortage of semiconductors, rating agency Icra said at a webinar on Wednesday. The industry, it pointed out, is estimated to lose production of 500,000 units at the end of FY22 due to the chronovc shortage the chip, which is critical in safety, entertainment and the various other smart features of a car. "In absence of the chip crisis, the industry volumes are likely to have exceeded the all-time peak annual volumes." Icra has pared its growth estimates for the PV market from the earlier 10-14 per cent to 8-11 per cent now in FY22.
Citizen protests will be held in Delhi, Kolkata, Hyderabad, Thiruvananthapuram and Bengaluru simultaneously on June 28, to reflect the "anger and grief" of the people.
The Piramal Group on Friday said it is planning to move the Supreme Court to appeal against an order by insolvency appellate tribunal NCLAT, which sent back its winning bid for DHFL to the debt-laden finance company's lenders for reconsidering the valuation. Piramal Capital & Housing Finance Ltd in a statement said that "the Dewan Housing Finance Corporation Ltd (DHFL) acquisition by Piramal Group remains unaffected and the business integration continues as envisaged". The National Company Law Appellate Tribunal (NCLAT) on Thursday, while delivering a judgement on 63 Moons Technologies petition had directed the lenders of DHFL to reconsider their decision regarding the valuation of the financial firm's avoidable transactions, while approving the insolvency resolution plan submitted by Piramal Capital & Housing Finance Ltd.
Presenting the celebs who turned heads at the American Music Awards red carpet.
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed the order of NCLT Mumbai directing the lenders of DHFL to consider the offer by the debt-ridden mortgage firm's erstwhile promoter Kapil Wadhawan. A vacation bench of NCLAT comprising Acting Chairman Justice A I S Cheema and Member Technical V P Singh stayed the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT). On May 19, NCLT Mumbai had directed the settlement plan offered by Wadhawan to be considered by the lenders of DHFL, one of the lawyers engaged in the matter said.
A look at the celebrities at the Wazir screening.
The White House and the Indian-American community are solidly backing the nomination of Neera Tanden as the director of Office of Management and Budget, describing her as the most appropriate candidate to hold the position.
In a letter to Gandhi, Amarinder Singh is learnt to have mentioned that there could be an adverse impact on the party's prospects in the upcoming and crucial 2022 assembly polls by ignoring the old guard and other senior party leaders representing Hindu and Dalit communities, sources said.
Bollywood loves a kiddie party!
A glimpse at what the models wore to the Golden Globes after-party.
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
RBI has appointed R Subramaniakumar, the ex-managing director of Indian Overseas Bank as the administrator of the third largest pureplay mortgage lender.
Piramal Enterprises (PEL) on Wednesday said it has completed the acquisition of Dewan Housing Finance (DHFL) by paying Rs 34,250 crore to creditors of the housing finance company. The company said the creditors of DHFL, including fixed deposit (FD) holders, would recover an aggregate amount of Rs 38,000 crore from the resolution process of DHFL. The amount comprises approximately Rs 34,250 crore to be paid by Piramal Capital and Housing Finance Ltd (PCHFL) as a combination of cash and NCDs, and an amount of approximately Rs 3,800 crore which is the entitlement of creditors as per the resolution plan from the cash balance available with DHFL, the company said.
The overall volume at India's top four M&HCV makers - Tata Motors, Ashok Leyland, Volvo Eicher, and Mahindra & Mahindra - fell 59.5 per cent to 31,067 units during the month.
Stars glitter at SRK's Diwali party!
CBI has alleged that Rana Kapoor entered into a criminal conspiracy with Kapil Wadhawan, DHFL director-promoter for round-tripping of funds where loans from Yes Bank to DHFL landed in companies owned by Kapoor's daughters, DoIT Urban Ventures.
'Today we prove that our democracy still works and that the power always belongs to the people through the power of our vote'
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
It is alleged that Kapoor's family received kickbacks for Yes Bank's investment in DHFL's debentures.
Piramal Group on Thursday said the Reserve Bank is understood to have cleared the resolution plan for debt-ridden DHFL as approved by the Committee of Creditors (CoC). The CoC had approved a resolution plan submitted by a Piramal Group company, Piramal Capital and Housing Finance Limited, last month. "We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," Piramal Group said in a statement. The resolution plan was approved by the CoC in its 18th meeting concluded on January 15, 2021.
'The 1971 War was our greatest military victory.' 'It had so many stories of exceptional valour and leadership.'
The Bachchans bumped into Aishwarya's former boyfriend Salman Khan at Sunny and Anu Dewan's party.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
Sanjay Dewan, a family friend of Shashi Tharoor and his wife Sunanda Pushkar and a key witness in her mysterious death case, on Wednesday said they were a "happy couple" and he was not aware whether she was suffering from any ailment.
Bollywood mourned designer Vikram Phadnis's mother's passing.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
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.
Commercial banks in the country continued with their improving asset quality trend in the October-December 2021 quarter with slippages remaining under control coupled with healthy recoveries and upgradation of asset classification. The 28-listed banks reported improvement in bottom line with net profits rising 64.1 per cent year-on-year (YoY) and 21.5 per cent sequentially. This is mostly on account of a fall in provisions and contingencies.
Rahul Dewan struck an impressive unbeaten 143 but England managed to budle Haryana out for 333 to extended their lead to 306 runs in Ahmdedabad on Saturday.
Sanjay Khan's autobiography The Best Mistakes Of My Life out.
Triple celebrations for Duggu!
Several promoters of suspended companies have floated new entities or taken board seats in other listed companies, which are functional, trading
Anil Kapoor throws a party, and the ladies are invited!
Young brides would be swooning over her cocktail gown with sexy cutouts!
Zayed hosted a dinner for newlyweds Gautam and Smriti Gupta.
