'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
A glance back at some important events that occurred in 2018.
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.
Narayanaswami Srinivasan might have been barred from becoming the president of the Board of Control for Cricket in India but he is set to represent the Indian Board in the International Cricket Council meeting.
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
There were more than three losers against every gainer on BSE
Nifty PSU bank index dropped nearly 2%
JSW Steel is learnt to have submitted its resolution plan along with AION Capital
Some of the key proposals of the agenda relate to transforming the banking sector, addressing agrarian distress, countering hate crimes and discrimination, and spurring employment generation.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Unstoppable so far, star Indian boxer Vijender Singh will now gun for his maiden title in the professional circuit when he fights for the WBO Asia belt come June in front of home fans in the national capital. The middleweight boxer, who earned worldwide fame by becoming India's first Olympic and World Championships medallist at the amateur level, has exhibited rampaging form even in the pro arena. Since his debut in the circuit last October, the 30-year-old from Haryana has won all his three pro contests via knockouts. His next bout is scheduled for March 12 in Liverpool, the opponent for which is yet to be named. "I am already excited. My first title fight, that too in front of my own people, in my own country. It cannot get better than this. I have no idea who my opponent is going to be but I am sure I will carry on the way I have so far," Vijender told PTI from Manchester where he is currently training for the March 12 showpiece.
If tweets can do so much, why do we need an independent regulator and multiple committees discuss and recommend policy?
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
'Election years tend to see high government expenditure on unproductive schemes, though that money sloshing around can boost private consumption.' 'Again, it can mean higher inflation,' explains Devangshu Datta.
'It is this difference in their personalities -- one in eloquent command of the requirements of Parliamentary debate, the other unable to infuse spontaneity in his script -- that will be as much a factor in who India votes for next year, as other more germane factors,' says Vikram Johri.
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
'The financial sector will be hit even harder than the overall market.' 'The banking sector will eventually be rescued.' 'But it may go into a long downwards spiral before things turn around.' 'Threat or buying opportunity?' asks Devangshu Datta.
'The new government will have to contend with slowing economic growth, weak private investment, anaemic exports and vulnerable external imbalances, a stressed financial system, mounting fiscal pressures (including high government debt-to-GDP ratios) and an exceptionally bad employment situation,' says Shankar Acharya, former chief economic adviser to the Government of India.
RBI has cited at least 10 areas where it has no control over PSBs.
Experts said the new framework has ensured that the focus has moved to creditor protection from debtor protection.
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
The origin of the challenge is the so-called "fresh start" process. Many in the MFI industry apprehend that such a law in India will encourage small unsecured borrowers to default and destroy the credit culture. So, while'Fresh start' is a welcome step as it will free up the debtors from the archaic laws of the colonial era, debtors need handholding and counselling to prevent any misuse, says Tamal Bandyopadhyay.
K C Chakrabarty, former deputy governor, RBI, talks to Anup Roy on issues in the new bankruptcy law and rules.
'When a company goes into insolvency, by definition it means that existing shareholders have been wiped out.'
The Maybach S650's focus on luxury would make a private jet's interiors appear pedestrian, says Pavan Lall. Does it mean it has no room for improvement?
'Stand-alone' trip to North American nation and a strong track record in Gujarat open doors to business.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
'The worst is over, but it may take a couple more years for the banking system to re-establish the growth process.' 'Banks are the major pillars in an economy's revival.' 'Without banking operations and lending, revival will not happen.'
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
'If credit is not available, people will postpone buying. That's what has happened.'
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
The Insolvency and Bankruptcy Code (IBC) got a leg-up with Tata Steel's acquisition of Bhushan Steel, the first big case to be resolved. Tata Steel CEO & MD T V Narendran tells Ishita Ayan Dutt how this deal moved so quickly while others are still mired in controversies.
Bad loans continue to originate mainly from state-owned banks, where the top management's responsibility is not linked to career prospects nor has legal consequences, says Debashis Basu.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
Gurcharan Singh tells Laxmi Negi/Rediff.com why he deserted the Indian team and the reason for wanting to return to the country after 15 years.
In front of a packed arena, in his first pro bout that lasted all ten rounds, Vijender Singh beat Kerry Hopes 98-92-98-92 and 100-92 in a close contest to win the WBO Asia Pacific super middleweight title fight in New Delhi on Saturday.
