The National Company Law Tribunal (NCLT) on Thursday gave crisis-hit Future Retail Ltd (FRL) time till May 12 to submit its reply to the insolvency petition filed against the company by Bank of India. Last week, Bank of India had moved the tribunal seeking to initiate insolvency resolution proceedings against FRL, which has defaulted on loan repayments. The NCLT hearing on Thursday also came against the backdrop of Reliance calling off its proposed Rs 24,713 crore-deal with Future Group after secured creditors voted against it.
The Chinese see no need to fight directly. They have an able and willing proxy in Pakistan, points out Shekhar Gupta.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
A member of the Meitei outfit Arambai Tenggol was apprehended for allegedly firing at security personnel during the recent protests in Manipur over the arrests of a leader of the organisation and four others, police said on Wednesday.
Asked about the expectations from the US, Azar said Washington and Israel are "completely in sync". He said he felt that the US would "support" Israel's action.
'His dismissal could backfire -- not just as a PR problem, but as a crack in the BJP's coalition of castes and communities.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
The only other company working on hydrogen cars in India is Toyota Kirloskar Motor.
The Delhi high court on Tuesday dismissed the pleas moved by Future Group companies seeking a direction to the arbitration tribunal, which is adjudicating on Amazon's objections against their deal with Reliance, to take a decision on their application for the termination of the arbitration proceedings before moving any further. "Both the petitions are dismissed," said Justice Amit Bansal, who had reserved the order on the petitions filed by Future Coupons Private Limited (FCPL) and Future Retail Limited (FRL) on January 3. The judge said the orders would be uploaded on the website of the high court shortly.
His successor issue is also expected to flare up fresh tensions between Beijing and Washington as China's policy comes in conflict with the US Tibetan Policy and Support Act of 2020, which reaffirmed America's steadfast support for the Dalai Lama and Tibetan Buddhism.
Shukla created history on Wednesday by embarking on a journey to the International Space Station (ISS) as part of a commercial mission operated by Axiom Space, along with three other astronauts.
At the customary meeting ahead of the session beginning Monday, the opposition raised various issues, including voter roll revision in Bihar, the Pahalgam terror attack and Trump's 'ceasefire' claims.
If nominees pass away, distribution is governed by succession laws of insured's religion.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Indian astronaut Shubhanshu Shukla stands on the cusp of history as he prepares to set off on a space odyssey, marking India's return to space flight 41 years after his idol Rakesh Sharma orbited the earth for eight days as part of Soviet Union's Interkosmos programme.
Temba Bavuma hopes South Africa's historic ICC World Test Championship Final victory will help his country 'rejoice and come together' as he revealed a desire to emulate the Springboks' all-conquering rugby team.
In a move that signifies a major leap for India's aerospace manufacturing capabilities, the collaboration will establish a final assembly line for the Falcon 2000 jets in Nagpur, Maharashtra.
Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF), which sells dairy products, has launched Amul Milk in Spain.
Days after billionaire Mukesh Ambani-led group took some of the stores of Future Group, whose lease had expired due to the non-payment of rent, Amazon.com Inc on Tuesday accused the two of 'fraud' and said such 'contumacious' transfer will be liable to legal action.
'He's gonna inspire billions of girls and boys.'
Over 25 crore workers across India are set to strike against new labour codes and privatisation, potentially disrupting banking, postal, and other essential services.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
The leader of the opposition in the Lok Sabha is preparing his excuses for future defeats in the upcoming assembly elections, including Bihar, Fadnavis said in his articles published in the Indian Express and Marathi daily Loksatta.
Yunus said his administration took over to carry out three mandates 'justice, reform and elections.'
The Kananaskis gathering on June 16-17 is the Prime Minister's 6th consecutive participation in the G7 Summit.
Shubhanshu Shukla's first seven days in space have combined science, ceremony, and moments of levity.
Debt-ridden Future Group is now focusing on saving and rebuilding firms such as -- Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT). Other companies like Future Enterprises Ltd (FEL), Future Lifestyle Fashions Ltd (FLFL), Future Supply Chain Solutions Ltd (FSCSL), Future Consumer Ltd (FCL) can sustain on their own and can be rebuilt by restructuring their liabilities with the help of current lenders and investors, said an industry source close to the Future Group.
'But sometimes the team doesn't know how to draw. And today, if you couldn't win the game before the minute 90-91, at least try to be in a position to avoid the defeat. But I feel that India is still in the fight.'
Dr Reddy's Laboratories (DRL) share price plunged 6.66 per cent to Rs 1,203.50 per share on the NSE during Friday after analysts remained cautious on the company's Q3 performance and differed on its growth outlook. DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
Akhtar criticised vested interest groups in Pakistan, particularly the army, the political establishment and the extreme right wing, for blocking peace efforts between the two nations.
As part of a plan to refinance debt and expand its upcoming constellation of satellites, French satellite major Eutelsat Communications will raise euro 1.35 billion, or $1.55 billion, through a reserved capital increase and a rights issue, the company announced on Friday. Bharti Enterprises' space venture, Bharti Space Ltd, will invest euro 31.4 million, or $36 million, in the capital raise.
The theme for this year is "Yoga for One Earth, One Health" echoes India's vision of global wellness.
Shukla will be the second Indian to travel to space four decades after Rakesh Sharma's iconic spaceflight onboard Russia's Soyuz spacecraft in 1984.
The National Company Law Tribunal (NCLT) on Tuesday allowed Kishore Biyani-led Future Group firms to hold meetings of its shareholders and creditors to seek approval for the sale of assets to Reliance Retail Ltd. A Mumbai-based two-member NCLT bench comprising Suchitra Kanuparthi and Chandra Bhan Singh dismissed the application filed by e-commerce major Amazon opposing the scheme of merger of the Future group companies, sources close to the development said. Confirming the development, a Future group firm through a regulatory filing informed that NCLT has passed an order, allowing the company to hold meetings of its shareholders and creditors to seek approval for the scheme.
Asked about the whereabouts of Iran's 400 kilograms of 60-per-cent enriched uranium, Netanyahu claimed that Israel has "interesting intel" related to the issue.
Paytm operator One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group. Adani group has also termed such reports as "false and untrue." Commenting on a report that billionaire Gautam Adani was in talks with Paytm CEO Vijay Shekhar Sharma for a possible stake buy, One97 Communications said, the "news item is speculative and the company is not engaged in any discussions in this regard."
The change in stance to neutral from accommodative in the June monetary policy meeting does not necessarily signal that the Reserve Bank of India's (RBI's) rate setting body - monetary policy committee (MPC) - will go on a prolonged pause on rate cuts going forward, believe experts.
A local Shiv Sena (UBT) leader has threatened to blacken Rahul Gandhi's face for his remarks about freedom fighter Vinayak Damodar Savarkar, sparking a strong reaction from Congress leaders in Maharashtra. The threat, made by Bala Darade, a deputy city unit chief of the Uddhav Thackeray-led party in Nashik, could put the opposition alliance Maha Vikas Aghadi (MVA) under strain. The Congress leadership has condemned the threat, stating that their party believes in non-violence but is capable of responding to such threats.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
Team India vice-captain Rishabh Pant on Wednesday said that he has effected a slight change to his stance -- from open in white ball formats to more side on in Test cricket to meet the demands of the swing-friendly England conditions.
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