Kapoor is already facing an ED criminal case for receiving alleged kickbacks, through companies purportedly controlled by his family, for going slow on bad loans extended by his bank to some big corporate.
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
'If credit is not available, people will postpone buying. That's what has happened.'
Exuding confidence in sustaining the tempo of credit growth, public sector bankers said on Wednesday that consolidation in the public sector bank (PSB) space has given them a robust base to scale. The privatisation of PSBs can be done through divestment of government stake to a wider base of investors without haste. There is nothing to worry about at this point (high credit offtake) as underwriting standards and risk management are much better.
Market players say the government is likely to attempt, at least, one big-ticket sale this month.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
The stakeholders want protection from any litigation which might arise due to fresh claims against the company, especially after PE funds have bought stake in the company and the resolution plan has been cleared by the bankers.
Six of the seven Bills listed on the agenda of the Rajya Sabha have already been passed by the Lok Sabha.
How can you, as a buyer, put your best foot forward at the negotiation table? Above everything else, the Scout's Motto holds true -- Be Prepared.
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
These could include strengthening the public-private partnership (PPP) dispute resolution mechanism, uniform PPP institutional framework, easier terms for infrastructure companies accessing bond markets, and tax sops, Business Standard has learnt. Investment in infrastructure projects with high multiplier effect has been the Centre's main plank to revive the economy, create employment and boost consumption.
'Cyrus was always very different. He would think before acting.'
The record breaking spree was led by index heavyweights, financials and metal stocks.
His portfolio was worth Rs 12,333 crore at the end of June 2018. It was worth Rs 10,633 crore at the end of the September quarter. Smallcaps account for the largest number of his stock-picks. Such a fall has now happened for the third quarter in a row.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Monday approved Piramal Group's resolution plan for the beleaguered Dewan Housing Finance Ltd (DHFL), which has been reeling from the insolvency process since 2019. The plan put forward by Piramal Group, which has offered to pay Rs 37,250 crore, has been approved by the committee of creditors (CoC), the Reserve Bank of India (RBI), and the Competition Commission of India (CCI).
The total income during the period rose to Rs 8,482.85 crore (Rs 84.82 billion), from Rs 7,388.51 crore (Rs 73.88 billion) in the same period a year ago.
'We will be looking to prune our portfolio to make GIC Re a healthier entity.'
As many as 58 companies raised money from automatic route and 8 firms raised via approval route.
While Sunak has maintained a dignified silence over the recent crisis, his supporters have not lost any opportunity to point out how the former finance minister had got the economic forecasts right.
Other than Kapoor, the complaint, running into more than 10,000 pages, named his wife, Bindu; three daughters Rakhee, Roshini, and Radha; and three firms, Morgan Credits, RAB Enterprises, and Doit Urban Ventures, allegedly controlled by them.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Real estate will prosper, small developers won't.
Probe agencies have found a common link between money received by Firdous Ahmad Shah, a member of Syed Ali Shah Geelani's hardline Hurriyat Conference, and financiers of 26/11.
Elon Musk, the owner of Twitter, said he has "killed" the new 'official' label for certain verified Twitter accounts just hours after the feature was visible on multiple handles of governments, politicians, officials and media houses. Just hours after the feature went live, he hinted that it simply didn't work. "I just killed it," he said in a tweet replying to a web video producer Marques Brownlee's tweet of the 'official' label vanishing after a brief appearance.
The Tatas have the know-how to quickly close deals which can otherwise get caught in legal wrangle. In 2018, on the day the National Company Law Tribunal declared Tata Steel as the winner of the bid for bankrupt Bhushan Steel, Bhushan promoter Neeraj Singhal was planning to file for a stay order. He did get the case listed for the following day, but the judge did not admit it, deferring it until the following week. The Tatas used the narrow window of 48 hours to close the deal and take control of the company.
DOIT is a 100 per cent subsidiary of Morgan Credits in which Rana Kapoor's daughters Radha, Roshini and Raakhe, are directors. In 2018-19, the company incurred a net loss of Rs 48.76 crore on revenues of Rs 59 crore - a sharp contrast to 2017-18 when it had profits of Rs 2.7 crore on revenues of Rs 43 crore. To fund these aggressive investments into its subsidiaries in 2018-19, DOIT used debt which doubled to Rs 600 crore in 2018-19 from the previous year.
'We try to pick up stocks early and hold onto them for the long term.' 'We are not someone who buys and sells on a daily basis.'
Sri Lankans were on the edge on Tuesday as they waited whether embattled Gotabaya Rajapaksa will honour his offer to resign as president, amid signs that key members of the erstwhile powerful ruling family were attempting to flee in the face of massive public anger against them for mishandling the economy that has bankrupt the country.
A bad Cibil credit score can limit your borrowing options; however there are few other options which you can explore for credit.
As a result of this moratorium, individuals' EMI payments of loans taken will not be deducted from their bank accounts, providing much needed liquidity to borrowers whose income has been disrupted due to the lockdown till May 31.
Budget in the medium term aims to kick-start the investment cycle.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
The Economic Survey seems convinced that 2019-2020 saw the bottom of the economic cycle, points out Abheek Barua, chief economist, HDFC Bank.
The pandemic has led to the International Finance Corporation massively ramping up its impact investment in the country - its largest client nation globally - at $1.7 billion as of June, a 51 per cent rise over the past 12 months, the largest developmental lender into third world private sector said on Tuesday. This is nearly half of its investment in the whole of South Asia since the pandemic, which touched $3.8 billion as of June 2021, it said. "Our total commitment to India, which is our largest client country globally, at the end of June stood at $1.7 billion representing an increase of over 51 per cent from last year," IFC vice-president for Asia and the Pacific region Alfonso Garcia Mora said in a statement.
The CBI has filed a fresh case against absconding diamantaire Mehul Choksi, wanted along with his nephew Nirav Modi in a loan fraud case of Rs 13,500 crore, for allegedly inflating the value of diamonds and jewellery pledged to get Rs 25 crore loan from IFCI, officials said on Monday. The CBI has booked Mehul Choksi, his company Gitanjali Gems and valuers Surajmal Lallu Bhai and Co, Narendra Jhaveri, Pradip C Shah and Shrenik Shah, they said. The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.
Not only does yoga help beat stress, it also helps them stay agile physically and mentally, say CEOs.
The FAQ also clarified that companies, including Titan, which supplies watches and jewels through their own websites will not be considered as e-commerce operators
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
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