Investor interest in precious metal exchange-traded funds (ETFs) rebounded sharply in June, with silver ETFs attracting an estimated 4,900 crore and gold ETFs around 2,900 crore in net inflows, following a significant correction in gold and silver prices.
In essence, Tata Sons will continue to be a CIC, whether registered or unregistered. It will have to follow the 90:60 principle.
If it qualifies as belonging to the upper layer, public listing will be one of the regulatory requirements. However, if it qualifies as 'unregistered CIC', it will escape from prudential regulation, explains Tamal Bandyopadhyay.
Union Finance Minister Nirmala Sitharaman has urged an increased focus on '3Fs'-fuel, fertiliser, and forex-to maintain India's economic resilience amidst the West Asia crisis, while also criticising those who spread pessimism.
Rising stressed debt and past exposures like Reliance Capital, Yes Bank push EPFO to frame exit rules for its portfolio.
Direct plans of mutual fund schemes added nearly 21 million individual investor folios in FY26 (as of February), surpassing regular plans' 15 million net additions, marking only the second time direct plans have outpaced regular plans in annual folio growth, despite turbulent equity markets.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
The National Company Law Appellate Tribunal (NCLAT) has allowed state-owned Canara Bank and Indian Bank to pursue proceedings against former IL&FS directors, who are not part of the new board, to declare them as wilful defaulter. However, the appellate tribunal said those directors who are part of the new board of Infrastructure Leasing & Financial Services (IL&FS) and its various subsidiaries after October 1, 2018, would remain protected.
The debt-ridden IL&FS group has discharged Rs 45,281 crore to its creditors as of March 2025, completing the resolution of its 197 entities, according to the latest status report affidavit filed before the insolvency appellate tribunal NCLAT. This is 18.9 per cent higher than Rs 38,082 crore, the amount of debt that stood resolved from the last status report filed by IL&FS six months before on October 28, 2024.
'By investing in a basket of funds, FoFs can help minimise the impact of underperforming funds, thus reducing overall investment risk.'
'Allocating 5 to 10 per cent of one's portfolio and staying disciplined through market cycles helps in having a positive investment experience.'
IL&FS group has discharged debt of Rs 38,082 crore to its creditors as of September 30, 2024, according to the latest status report affidavit filed by the debt-ridden firm before insolvency appellate tribunal NCLAT. "As on September 30, 2024, the total debt discharged to creditors of the Respondent No 1 (IL&FS) Group aggregates to Rs 38,082 crore," the status report said. This includes Rs 20,289 crore from monetisation of assets, Rs 8,140 crore from auto-debits, green entity principal servicing, NFB release and Rs 9,653 crore from interim distribution.
Is the parabolic rise in silver running out of steam or just getting started? Ramalingam Kalirajan offers his take on if you should invest in silver now?
Satadru Dutta's rise was swift and ambitious. But that journey took a dramatic nosedive on Saturday.
'First-time investors, busy professionals, NRIs and those with modest sums looking for curated strategies may find FoFs especially appealing.'
'Investing in these funds makes sense if their net yield over better-quality funds -- corporate bond funds or banking and PSU funds -- is meaningful.'
Passive funds appeal to investors seeking to avoid the risk of underperformance by the fund manager and minimise the need for frequent chopping and changing of funds.
The Enforcement Directorate (ED) and Income Tax (I-T) Department are likely to join the Assam Police in investigating alleged organised financial crimes and acquisition of benami properties by event manager Shyamkanu Mahanta, an accused in the death of Assam's cultural icon Zubeen Garg.
The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
The ED carried out searches against two former auditor firms of IL&FS -- BSR and Associates and Deloitte Haskins and Sells -- on Wednesday in connection with its money-laundering probe into alleged financial irregularities at the infrastructure development and finance company, official sources said. The premises linked to the two auditors in Mumbai were searched under the provisions of the Prevention of Money Laundering Act (PMLA), they added. The action came a week after the Supreme Court set aside a Bombay High Court verdict that quashed an SFIO probe against the two companies, both former auditors of IL&FS Financial Services, paving the way for action against them under the Companies Act and allowing the National Company Law Tribunal (NCLT) to take forward its enquiry against them.
'Maintain a balanced approach with a preference for short-to medium-duration funds.'
The government has reshuffled the board of IL&FS Ltd, which is undergoing debt resolution process, with existing board member C S Rajan being redesignated as the non-executive chairman. Nand Kishore, who was serving as an executive director, has been made the managing director, according to the company. In the wake of financial misdoings coming to light, the corporate affairs ministry had superseded the board of IL&FS in October 2018.
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in InvIT units (Infrastructure Investment Trusts) and a majority of this is to be distributed to the creditors of three large group firms -- IL&FS, IFIN and ITNL. "The interim distribution shall be confined only to the entities as reflected in Annexure-6 except those excluded and for the amount of Rs 16,361 crores i.e Rs 11,296 crore of cash and Rs 5,065 crores of InvIT Units," said an order by a two-member NCLAT bench headed by Chairperson Justice Ashok Bhushan.
The Rs 84,000 crore domestic fund of funds (FoFs) space, which was in the doldrums over the past 18 months, has now caught the attention of investors due to a change in the tax structure in Budget 2024. The broader category, which includes offerings across equity, debt and commodities, has seen a spike in the inflows over the past two months. FoFs typically deploy the pooled capital in one or multiple MF schemes rather than investing directly into equities, debt or commodities.
Only a limited set of investors should invest directly in corporate bonds.
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
The 22nd edition of the India-France bilateral naval exercise Varuna was conducted from September 2 to September 4, 2024 in the Mediterranean Sea.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
In three separate but similarly-worded orders, Sebi said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of the rating agencies.
Maharashtra Nationalist Congress Party (NCP) president Jayant Patil appeared before the Enforcement Directorate (ED) in Mumbai on Monday in a money laundering case linked to alleged financial irregularities in the now bankrupt financial services firm Infrastructure Leasing and Financial Services Limited (IL&FS), an official said.
Sources said Sankaran has been arrested on the grounds of abusing his powers in IL&FS Financial Services Ltd through fraudulent conduct and in granting loans to entities that were not credit-worthy or were declared as non-performing accounts.
Foreign investors withdrew Rs 10,355 crore from the country's equity markets in the last four trading sessions this month due to sweeping tariffs imposed by the US on most nations, including India. The outflow occurred after a net investment of Rs 30,927 crore in the six trading sessions from March 21 to March 28. This infusion helped reduce the overall outflow for March to Rs 3,973 crore, according to data from the depositories.
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
Deloitte had challenged the jurisdiction of the NCLT to ban it, saying section 140(5) of the Companies Act pertains to auditors who are still auditing the company in question while it has already resigned from the service and thus cannot be banned under the given provisions.
Joint MD of the company Arun K Saha and MD of transportation network K Ramchand were arrested late evening in Mumbai under the Prevention of Money Laundering Act.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
