The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
'It is very clear that Air India cannot be managed by the government.' 'Air India should be run as a separate profit entity.'
IOC, BPCL and HPCL on Thursday afternoon stopped ATF supplies to Air India at six airports - Kochi, Pune, Patna, Ranchi, Vizag and Mohali - over payment defaults. AI flights from these places were tanking up from other airports.
The board of Unitech Ltd, the country's second largest realty company, has approved a plan to raise Rs 5,000 crore through debt and equity issues and will convene an extraordinary general meeting on January 19, 2009 for shareholder approval. Sanjay Chandra, Unitech managing director, said today's proposal was a flexible enabling provision.
Noted banker Uday Kotak said the country's financial system is currently in a Darwinian mode as only the fittest lenders are able to survive. Kotak also said that historically, whenever there has been a problem with a private sector lender, it has been merged with a state-run bank.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
With a sole mandate of inflation targeting, RBI wears many hats.
'In FY21, as of October, LIC has booked a profit of Rs 18,800 crore through sale of equities.'
Raghuram Rajan's 'surgery' uncovers more bad loans
Six players -- Dubov, Nakamura, Aronian, Carlsen, Radjabov and So -- share the lead with 4.5 points after eight rounds.
'Since the NDA took office in 2014, and aggressively since 2019, the Union government seems hell bent on centralising all power and resources, only to fail spectacularly.'
'No commercial bank will be allowed to fail. There is nothing to worry about.'
India's private carrier Kingfisher Airlines, which placed orders for 30 Airbus A320 aircraft worth $1.9 billion at the ongoing Dubai Air Show, has said the carrier would go public to finance the deal.
To boost fund raising from markets, Sebi on Thursday proposed e-IPO norms where investors can bid for shares through Internet and eventually on mobiles, while already listed PSUs will be provided a 'fast-track' route for share sales to meet the disinvestment targets.
One-sponsor-one-fund rule may set off merger as Amundi seen sponsoring two funds following buyout.
'And he was really trying just to do the best by the shareholders, and by the laws of India.'
About 55 per cent of the public offers that hit the market since 2008 are still trading below their issue price.
These simple changes can add a significant thrust to your overall money management over time.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
Taking on board India's concerns, the G-20 Summit on Friday acknowledged that excess volatility of financial flows and disorderly movements in exchange rates can affect economic and financial stability of emerging markets and called for sound policies to address it.
Expect more volatility in the coming year as the economy and markets price in the demonetisation drive.
Since 2000-01, the Indian economy has shown the tendency of being unable to absorb all domestic savings as investments.
After holding discussions with the FM, the Sebi chief said the government thought it was an opportune time to levy the LTCG tax as the "markets are booming."
Back of the envelope calculations put government expense on each of the new schemes promised by the DMK and the AIADMK at tens of thousands of crores. But then, neither party has said how they are going to also address the mounting debt burden either, says N Sathiya Moorthy.
If the fiscal deficit for the year can be maintained at Rs 7.04 trillion, the deficit as a percentage of GDP will slip to 3.44 per cent
Vikram Bakshi, the estranged partner of fast-food chain McDonald's, will seek reinstatement as managing director of the 50:50 joint venture Connaught Plaza Restaurants, with a plea to the Company Law Board seeking the 'deadlock' in the August 6 board meeting be resolved.
If cleared, the ONGC arm will become the first subsidiary company of an existing Maharatna to get into this superior league among government-owned entities.
'The India-Pakistan relationship is in a deep freeze, though it could be a lot worse had there not been a new LoC ceasefire a year ago.' 'The India-Pakistan relationship will only start to thaw if the Pakistani military decides it's prepared to push for detente.'
For the wealthy, post-tax returns of debt funds would work out better
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.
'The shadow banks are currently facing a liquidity and solvency crisis.' 'The danger is that it could potentially engulf the entire financial system because shadow banks have borrowed huge amount of money from banks, mutual funds, pension funds, and insurance companies.'
The global ratings agency keeps India's sovereign rating unchanged at 'BBB-' with stable outlook
'Mostly, the relief, if needed, would be for housing loans where a person has lost a job and is unable to pay his EMI or there has been a temporary salary cut.'
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
'It is not as bad an airline as it is made out to be: We serve wonderful food, the leg space is more, our cabin crew is warm and friendly.' 'The customer needs to be apprised of these things.'
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
'MFs have a combined exposure of Rs 3.2 lakh crore to NBFCs, out of which Rs 1.1 lakh crore matures by September 2019.'
'The rate of interest from the EPF is still attractive compared to the rates on fixed deposits, National Savings Scheme, Public Provident Fund...'
Jaitley said the government had earmarked Rs 25,000 crore (Rs 250 billion) for recapitalisation.
