Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
Licence winners are expected to be announced by the first quarter of 2014.
Investors remain cautious ahead of F&O expiry.
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.
New norms are in place to strengthen regulations for this set of lenders which has been playing a critical role in Asia's third largest economy, notes Tamal Bandyopadhyay.
White labeled ATMs are set up by private non-bank companies that own and operate their own brand of ATMs.
India is an under-penetrated ATM market with only 98 ATMs for every 10 lakh of population.
Eight FDI proposals worth Rs 1,311.54 crore (Rs 13.11 billion), including that of Norwegian telecom firm Telenor, have been cleared by the government on the basis of FIPB approvals.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
American Tower bulks up in India with $1.2 billion Viom stake buy
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
For the wealthy, post-tax returns of debt funds would work out better
Bankers and executives involved in ATM operations said challenges abounded in this segment.
SBI leads a 17-member consortium of lenders that is trying to recover dues running into over Rs 7,500 crore (Rs 75 billion) in principal alone from Kingfisher Airlines.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
'2017-2018 will be one of the best years for the country.' 'The wheel has finally started moving in the right direction. It should pick up momentum in the next 8 to 9 months to have a positive impact on the economy'
