Diageo, which had acquired Mallya's United Spirits nearly six years ago, is claiming $40 million paid to the liquor tycoon as part of an alleged breach of agreement.
According to RBI sources, some banks had extended credit to existing borrowers to repay their debt, known as evergreening of loans in banking parlance.
Adopting a wait- and-watch approach ahead of US Fed meeting
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mundra fills the vacancy created by the retirement of KC Chakrabarty in April, two months before his five-year tenure was come to an end.
Or Iran may face the risk of losing its biggest client
Petroleum minister M Veerappa Moily would like to import 11 million tonnes of Iranian crude in this financial year.
.jpg)
Senior company officials said the funds would be used to expand its financial services business in rural India where the group would be opening more branches.
Mergers to create at most six state banks
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The high court remained unconvinced by Mallya's claim that he has been a non-resident Indian since 1988 and has lived in England since 1992, a country where he has indefinite leave to remain
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
About 12 other lenders with combined exposure of Rs 1,200 crore likely to follow
Senior Aam Aadmi Party leader and Gurgaon candidate Yogendra Yadav on Thursday declared his assets to the tune of about Rs 3 crore, which includes farm land, commercial booth and sizable amount of bank deposits and Provident Funds.
Additionally, promoter Naresh Goyal and Etihad Airways, which owns a 24 per cent stake in the airline, will infuse around Rs 2,000 crore into the airline, sources aware of the development said.
India was ranked 70th of 77 countries in the Female Entrepreneurship Index 2015 released by London-based Global Entrepreneurship Institute
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
As part of their deal Diageo agreed to pay Mallya, $75 million for stepping down as chairman of United Spirits and for entering into a non-compete pact
Banks are seeking an order that Mallya should appear in person before the court.
Apart from streamlining loan processing, most public sector banks charge lower interest rate, an aspect which seems to be game changer.
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.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
Natco Pharma, Wockhardt and Marksans have rallied between 50 and 70 per cent in the year till date.
To combat terror financing, India and the US committed to work together to check illicit money transfers.
Reports from Ludhiana, Coimbatore, Moradabad, Tirupur, Indore, Surat, Delhi, Mumbai, Kolkata, Chennai and Hyderabad, suggest the impact of demonetisation is worsening.
Vijay Mallya on Wednesday gave a proposal to the Supreme Court to repay around Rs 4,000 crore (Rs 40 billion) loan to banks by September this year.
The estimated cost breakdown is one of the most important forms in the construction loan package.
S.Kumars chief Nitin Kasliwal is charged with non-performance by company shareholders in the recently help AGM of the company.
More than 10% (40 of 498 companies) have lost at least half their market value.
Mallya failed to repay loans worth Rs 7,200 cr, did not pay salaries, did not deposit PF, and did not pay income tax. It is still a mystery why banks continued to pour money into the airline when it was on life support
Even as you fight the ongoing health challenge, here are some tips to strengthen your personal finance in the time of coronavirus.
.jpg)
Bankers remained ambivalent on the impact of Tuesday's policy announcement by Reserve Bank on the cost of funds and refrained from giving a guidance on the direction in which lending rates are headed.
The Sindhis are a lesson in perseverance. Once uprooted, they've started all over, often reinventing themselves
The prime minister, on his first trip to his Lok Sabha constituency in over eight months, claimed poverty alleviation measures have lacked a proper direction and they are spoken about during election time as a "tradition".
The move also invalidates, albeit temporarily, Mallya's repeated assurances to the court and the public of a revival plan for the carrier.
.jpg)
With new private banks in the play, the going could become more difficult for the old-school state-run banks, already losing business and market position, forcing them to think hard towards consolidating and forming larger entities to garner big-ticket deals.
The Indian rupee slumped to a record low near 69 to the dollar on Wednesday on growing worries that foreign investors will continue to sell out of a country facing stiff economic challenges and volatile global markets.
'The critics were writing so well about me, I was shocked!' 'My phone didn't stop ringing!' 'This is the biggest tribute for a senior actor.' 'Now, I can pack up.'
