Jalan Kalrock Consortium, the winning bidder for the grounded Jet Airways, will make a total cash infusion of Rs 1,375 crore in the airline and lenders will take a steep haircut on their admitted claims of over Rs 7,800 crore under the approved resolution plan. The National Company Law Tribunal (NCLT) on June 22, approved the consortium's resolution plan for Jet Airways, which has been undergoing insolvency resolution process since June 2019. The carrier shuttered operations in April 2019.
The year 2020 could see the worst global economic fallout since the Great Depression in the 1930s, with over 170 countries likely to experience negative per capita income growth due to the raging coronavirus pandemic, IMF Managing Director Kristalina Georgieva said on Thursday. Georgieva made the remarks during her address on 'Confronting the Crisis: Priorities for the Global Economy' in Washington, DC, ahead of next week's annual spring meeting of the International Monetary Fund and the World Bank.
The company had appointed a three-member committee of directors to implement the changes.
Case relates to alleged irregularities in '08 sanction to MCX-SX; Shah grilled in NSEL case.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
India is Asia's third-best performing equity market.
If new goals have emerged, this is the time to make fresh investments.
FIIs have offloaded stocks worth Rs 13,110 crore
The derivatives expiry on Thursday is also expected to add to the volatility.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
Indian markets rose 19 per cent in the first half of this financial year, the best performance by any market during this period, globally.
Demonetisation, Donald Trump's surprise victory in the US presidential elections, and the fear that US Fed may hike rates in the upcoming policy review in December have dented market sentiments, report Puneet Wadhwa & Deepak Korgaonkar.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Market players said the new norms were more suited for online brokers, where clients were typically internet savvy.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
While study was done before the current boardroom battle began, the findings indicate Tata is no longer viewed as aspirational brand by working professionals.
'The entire idea behind the serial bomb blasts was to strike fear in the minds of Indians.' 'I don't think the blasts were targeted to derail the Indian economy; the idea behind the blasts was retribution.'
The IIT-Madras alumnus, who moved to Canada for an MBA programme and settled there, is not new to investing in India.
Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
Analysts say markets to be impacted by monsoon, inflation trajectory.
'India is a pharma dada. We can manufacture enough for our people and for the world.'
Here are 15 things that would have made 2015 a great year.
The Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
Will space tourism with a niche market of serving only the uber-rich ever be profitable, asks Kumar Abishek.
Be a disciplined investor for attractive returns, says fund managers.
From Jammu and Kashmir to Andhra Pradesh, consumers are facing power cuts ranging from 2 hours to 8 hours.
Bank claims it wasn't quizzed by CBI, only financial information was sought.
A much-vacant mall in a sleepy industrial park is all that's left of the amount allegedly owed by Mangla Shree Properties against 0.2-mt sugar deliveries
A major payment crisis involving Rs 5,600 crore (Rs 56 billion) broke out at National Spot Exchange last year.
'It is not impossible that there will be some arrangement with the Congress in West Bengal after the ongoing local body polls.'
Prices moved up sharply in recent months.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
'I was shocked by the kidnapping episode. I could have lost my life.'
With a sole mandate of inflation targeting, RBI wears many hats.
Importantly, is there hope going forward?
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