In its multi-billion-dollar acquisition pursuit for LyondellBasell, the Mukesh Ambani-led Reliance Industries engaged 'hundreds' of advisors and personnel to access thousands of documents related to the proposed deal, which was rejected by the Luxembourg-based bankrupt chemicals major.
From crisis leaders to future Goliaths, India Inc saw them all in 2017, says Shailesh Dobhal.
When it comes to Mr Portnoy, it is hard to claim that his trading patterns are any more logical than his fictional namesake's methods of entertaining himself, notes Devangshu Datta.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
Beleaguered General Motors on Tuesday said it will acquire its strongest operations, including the Indian business, once the company steers itself out of bankruptcy.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
The department of economic affairs is said to be in discussions with various probe agencies, including the income tax department and the Enforcement Directorate, and bankers in drafting the final rules.
Loans of over Rs 1.8 trillion, for which agreement has been signed by banks, are likely to be referred to IBC.
Govt must take few steps to improve business environment.
Five years on, US company that won the auction for the aircraft is running pillar-to-post, unable to take possession as DGCA hasn't deregistered the jet
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
The Essar group hinted at challenging the verdict, citing last week's Supreme Court order that upheld the August 2018 amendment to the IBC law.
How President and Managing Director Karl Slym is steering General Motors India after its US parent filed for bankruptcy.
When Japan's Yokohama Rubber announced the acquisition of Alliance Tire a few days back, it was the end of the long and successful road.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
The three options are - a one-time settlement, restructuring of loans and of course go to IBC.
He said the society has become highly litigious and vouched for independent regulatory institutions that are free from political interference.
The fairy tale turnaround story has, however, taken a few knocks after a second wave of the pandemic has brought a series of default notices and has posed the toughest test for the 55-year old Singh to save the airline he founded and sold to the Marans only to assume control later.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
The Hindi booklet, distributed at a camp of Congress-affiliated Seva Dal in Madhya Pradesh, had also claimed that Savarkar and Mahatma Gandhi's killer Nathuram Godse were in a physical relationship. The book alleged that Savarkar received money from the British after he was released from Andaman's Cellular Jail.
Enron Corp's former chief accountant agreed to plead guilty on Tuesday to criminal conduct that preceded the energy giant's collapse into bankruptcy
The GST bill is stuck in the Rajya Sabha where the ruling NDA govt does not have a majority as well as stiff opposition by the Congress
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Under the plan, the government has categorised IL&FS group companies into green, amber and red based on their respective financial positions.
Rera's implementation is patchy across states, and the powers of the regulator to enforce its orders are also limited.
Former WorldCom chief executive Bernard Ebbers, accused of masterminding a massive accounting fraud that led the telecommunications giant into bankruptcy, was convicted on charges of fraud and conspiracy by a US court.
Of the Rs 4,405 crore unpaid debt of 12 companies, more than half was locked in just one Mumbai-based real estate company, Kohinoor CTNL Infrastructure.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
Singapore is the most favoured destination for people living in India, Indonesia, Thailand, Hong Kong and the Philippines when it comes to post-lockdown travel.
What is the guarantee that another Trump will not arise and reach out to the American people directly? The fact of the matter is that Trump's support base remains the envy of any American politician, notes Ambassador M K Bhadrakumar.
In a major relief to stressed assets, the Cabinet approved the proposed IBC amendment that the licences, permits, concessions, and clearances for a corporate debtor cannot be terminated or suspended or not renewed during the moratorium period. The Cabinet also allowed amending the code to streamline the corporate insolvency resolution process and protect last-mile funding to boost investment in financially distressed sectors.
The court also allowed Indian Banks' Association, another respondent, to file a response.
If companies get into trouble, the loan becomes a non-performing asset and "we very much want these assets to be back on track," Raghuram Rajan said.
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