Under the plan, the government has categorised IL&FS group companies into green, amber and red based on their respective financial positions.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
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.
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.
His tweet came after media reports said that he took a U-turn on his remarks.
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.
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 government has provided a long-term vision.
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.
'There is a fiscal crisis building up, which might become apparent when the Finance Commission presents its report,' warns T N Ninan.
It had been pointed out to the banking regulator that one-day default was difficult to monitor in large companies, especially where cash flows are dependent on government payments.
'India will jump 30-40 places in the World Bank ranking of ease of doing business next year.'
In drought-hit Marathwada region, the focus has shifted to renaming the city of Aurangabad, with BJP and Shiv Sena raising a pitch to rename the city as 'Sambhajinagar'.
Alleging that AAP MLAs are being arrested under a 'conspiracy', party's Delhi convenor Dilip Pandey said a writ petition will be filed in the Delhi high court with a compilation of 'false' cases slapped against them.
Has the Modi government been more at odds with institutions than other governments? There is no doubt that there have been more run-ins. While the RBI and CBI cases have drawn attention, there have been others, less publicised, Subhomoy Bhattacharjee points out.
Instead of the minority stake they held earlier, now they have controlling stake in many firms
Several of his lenders have a lot to answer for.
India worked in close partnership with the World Bank to improve its position, says NITI Aayog CEO Amitabh Kant.
'Power is always transitory, and you should be the same person whether you have it or not,' the head of the number one law firm in India tells Pavan Lall.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
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.
The three companies for sale are Reliance Communications, Reliance Telecom and Reliance Infratel.
Said the airline sector is doing well in India, with many carriers making good profits
Corporate ministry documents show that the Siva's firm kept taking loans from public sector banks like State Bank of India, Punjab National Bank which gradually turned to bad loans.
RBI may be inclined to impose severe restrictions on lending in the coming quarters.
Formula One Chief Executive Bernie Ecclestone has been indicted in Germany in a case relating to the sale of a stake in the motor racing business eight years ago, a spokesman for a Munich court said on Wednesday.
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
Bankers said the SC verdict might prolong the resolution process and force lenders to bring back cases to the drawing board.
When the government is out to get Mallya, why is it quiet about those people who are responsible for Air India's massive losses is a million dollar question
'One by one we are seeing these private banks taking people's money and mismanaging it.' 'In the last 30 years, 30 private banks have collapsed.' 'Nationalise all banks so that people's money is safe.'
China Development Bank takes Reliance Communications to NCLT over loan default
'Instead of doing ground work they are sitting and monitoring the drought through Mantralaya and trying to solve the problem with Aamir Khan.'
The Modi government could steer through Parliament 59 out of 75 Bills.
The failure to reform has meant that there is no buzz about job opportunities, or about urban opportunities enticing young people off the farms. And it is this failure that has contributed to the widespread disappointment that threatens to make the next general elections closer than expected, says Mihir S Sharma.
Rooms at this Kolkata hotel are priced between Rs 7,000-8,000 per night. Gateway is a full-service upscale hospitality brand under the Taj Group of Hotels.
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