The haircut for major banks stands at 52 per cent, if the dues of Jaypee Infrastructure, Lanco Infrastructure and Era Infrastructure are kept out of the calculation.
While the basic premise and spirit of the Code will remain the same, the commas and the full-stops in the draft report being prepared by a high-level committee will make interpretation of the law simpler
Vikram Bakshi says the 169 stores will remain open, McDonald's says it will take steps to enforce termination.
Another reason working in Air India's favour now is the government's plan to clean up part of the airline's burgeoning debt from its books - a major deterrent for investors when it attempted divestment the previous time.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
The code says the process is intended to balance the interests of all stakeholders and the resolution plan is also required to make a statement as to how it has dealt with these interests.
While sale of residential properties increased only marginally despite plethora of steps taken by the government through the year, office space leasing rose 40 per cent to touch an all-time high of 46.5 million sq ft -- a trend that drew investors to lap up India's first Real Estate Investment Trust at an issue size of nearly Rs 5,000 crore.
Google has also come under the scanner of competition watchdogs in other countries as well.
The successful implementation of the new Act will depend on a much bigger involvement of the state through a huge new superstructure of registration, certification and supervision
After helping the government in policymaking since October 2014, Chief Economic Adviser Arvind Subramanian is returning to academics and will be teaching at Harvard Kennedy School on a visiting position. In an interview to Dilasha Seth and Somesh Jha, he says the ease of doing business agenda needs to move forward and India must try to integrate with the global value chains. Edited excerpts.
The recent amendments to the IBC practically barred promoters from re-acquiring their own assets, leaving only a small window to convert their non- performing assets into standard assets by paying the overdues.
Arundhati Bhattacharya talks about SBI's strategies, its aim to be among the top 30 banks globally, and stressed assets resolution.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'We were number one in commodity, currency, electricity, bonds, spot and everything. 'The purpose was to create an accident and then exploit it to eliminate the group. There were so many vested interests and therefore they did this," said Shah.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
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.
There were more than three losers against every gainer on BSE
While passing the scrutiny of courts is a tough challenge, with eight proposed amendments to the insolvency law, the government has sought to turn the focus back on at least some of the functions of the bankruptcy law.
Warship building projects worth at least Rs 630 billion have ground to a standstill. The defence ministry has halted tendering in wait for a government decision on whether to allow, or to exclude, Anil Ambani's shipbuilding firm from those contracts.
After the Insolvency and Bankruptcy Code came into force, which calls for an auction of assets of loan defaulting entities, recoveries have picked up, said Jaitley.
More than 1,000 independent directors have quit since January 2017; more could be on their way out
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
Demerging print and TV news businesses will allow for separate investment by interested players.
In 2009, ArcelorMittal had picked up a stake in Uttam Galva Steels. A new Section 29A of the IBC prohibits promoters of companies with NPAs of more than a year from bidding for these companies.
'If you ask India's finest business leaders, they now tell you -- in whispers, of course -- that the mood has never been so glum after 1991,' says Shekhar Gupta.
The NCLAT's order is offensive because it goes against every tenet of bankruptcy reorganisation. If Justice Sudhansu Mukhopadhyay's tenets are accepted by the Supreme Court, we will not only regress in modern bankruptcy reorganisation but also slide back in the Doing Business rankings, says Omkar Goswami.
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
The Bankruptcy Bill seeks to ensure predictability of outcome for creditors.
The framework also envisages amendments to the Prevention of Corruption Act to exempt commercial decisions by PSBs from scrutiny by investigating agencies. Both the amendments are likely in the monsoon session of Parliament.
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
N Sundaresha Subramanian, Karan Choudhury and Shreya Jai report on the sorry condition of homebuyers who invested in Jaypee Infratech and the Amrapali group's Noida-based projects.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy. Here are his replies to some of the 'buy, sell, hold, avoid or exit?' e-mails that we have received.
Bankers seem to be pleased with the government for keeping its promise of not interfering in operational matters, but are apprehensive about the intense scrutiny of their functioning.
Lenders can now review a borrower account within 30 days of default. Earlier, the banks had to start resolution within one day of default.
Chartered accountant and Sebi registered investment advisor, Harsh Vardhan Roongta, answers your home loan queries
Jio's disruptive strategy, including free voice services and data at throwaway rates, apart from offering all services free for six months, triggered a consolidation in the telecom sector.
'The 5.7% growth in the April-June period is an aberration because of GST.' 'Business activity in the last 15 days of the quarter was minimal or zero.'
Economic Affairs secretary S C Garg said inflation has consistently come down since 2014 and will not cross 4 per cent this fiscal.
'This year's Budget didn't give into populist measures everyone was expecting after demonetisation, so I think that was a positive step.' 'Hopefully the Budget will continue in the way it has been.'
