UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Interception of electronic communication should also be covered in the powers being sought, the report said.
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.
It was an extraordinary turnaround for an Olympics that was expected to be held without major issues by a country known for public safety and economic stability. It also revealed a fatal miscalculation by Japanese and IOC officials of public sentiment at a time of heightened fears over the coronavirus.
The ICICI board, which consists 12 members, is divided on whether Kochhar should be on leave during the internal enquiry
'When you have a committee, there will not be any autocracy.' 'It means one person cannot take any decision on the temple.'
The posts of Chairman and MD in the private sector are held separately.
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.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
The announcement of a deferral is expected to be part of Finance Minister Arun Jaitley's Budget speech on February 29.
With the setting of MPC, the interest rate setting powers would move from RBI Governor to the panel.
'We can't have the best of both worlds -- large, efficient, world class government-owned banks, doing social banking and making profits. 'Why not set them free from the shackles of such obligations and run them as business units?' says Tamal Bandyopadhyay.
News of all that's transpired on and off the cricket field.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Alexandr Kogan, the Cambridge University researcher who developed the app used by Cambridge Analytica, claimed he has been made a scapegoat.
Bankers said fear of loan losses impairing their careers could make officers wary of sanctioning new loan proposals on their own.
Former England cricketer Reg Simpson, who is the oldest surviving player to have played in a Test match for the country, has reportedly passed away at the age of 93.
The probe into selections for banks such as Bank of Baroda and Canara Bank followed the arrest of Syndicate Bank CMD S K Jain for alleged graft.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
The chief of the Central Intelligence Agency on Friday apologised for the United States' spy agency's surveillance of computers used by lawmakers and their staffers involved in investigating the organisation's harsh interrogation techniques.
'A hundred days later, it is a moot point whether the lockdown has been partially or totally effective, or, as sceptics indicate, plain ineffective.' 'Did it actually deflect infections and the loss of lives, or was it merely a hasty decision rammed down the populace's throats that choked the economy and caused the searing tragedy of dispossessed migrant workers?' ask Radha Roy Biswas and Manoj Mohanka.
The defence minister has to correct a major asymmetry. Will his discipline come in the way?
Jaitley sets condition of 50% assets for applicability of capital gain tax.
T N Seshan believed that toughness at every level is needed to keep the flock under him strictly duty bound, recalls Dr K S Parthasarathy, former secretary, Atomic Energy Regulatory Board.
Its obsession for growth, chasing corporate clients and giving up its original mandate of meeting the needs of local trade and businesses. A quarter of its loan book has gone bad. That's an error of business strategy, points out Tamal Bandyopadhyay.
On June 1, 2010, under Indian Ports Act, 1908, govt declared Port Blair as 13th major port in India
Rediff.com gives you a look at newbies in the Council of Ministers
'The no-rate cut policy and preference to wait for the Budget and clarity on the fiscal front demonstrate RBI Governor Shaktikanta Das is maturing in his new role,' notes Tamal Bandyopadhyay.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
This will be his second term at the helm in the Indian cricket board, more than a decade after his first term ended.
Even with the elevation of Nirmala Sitharaman to the post of defence minister, the party still needs to redress the gender imbalance and fill the 33 per cent quota in posts.
Parliamentary Standing Committee on Human Resource Development headed by Satyanarayan Jatiya has slammed SAI for not roping in sportspersons even 20 years after being asked for restructuring of the "unwieldy and monolithic bureaucratic organisation
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
.jpg)
A rule change may make Nachiket Mor, among others, eligible to replace Chakrabarty.
'The present government swears by Hinduism. But we lost three of our sants during earlier BJP regimes.'
'The writer remains the most creative force in the process.' 'Producers need to be inventive in how they reward good writing.'
The time the companies have to get ready for GST is 6 to 12 months.
Court questioned the probe agency on delay in filing the chargesheet.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances