RBI may be inclined to impose severe restrictions on lending in the coming quarters.
The sector will see a minimum of 3-5 per cent of the weight being shed in almost every IT company - particularly the big 20 - because of Covid and not performance-related issues.
Nothing has ever been done to make bank officers accountable, except for the rare actions when there is a public controversy, argues Debashis Basu.
The initiation of IBC proceedings in respect of a debtor has certain drastic consequences on both day-to-day running of the business of a debtor and on all creditors generally.
In a bid to enhance shareholders' value, the Kinetic group is restructuring operations to house its two-wheeler and auto-component businesses in Kinetic Motor Company and Kinetic Engineering, respectively.
Canadian handset maker BlackBerry on Friday said it has narrowed its net loss for the second quarter ended August 31, 2014 to $207 million compared to the previous year helped by increased adoption of its BlackBerry Enterprises Service (BES) and handset sales.
After a meeting of banks on Friday on ways to make funds available immediately, a source in the know said lenders other than SBI and Punjab National Bank had not come on board so far to chip in with their funds.
Three months after the Foreign Investment Promotion Board put its entry into India on hold, US coffee retail giant Starbucks has sent a revised application to operate single-brand retail stores under a restructured entity.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Reducing dependence on wholesalers will give the company better control over its inventory, besides offering greater visibility to new brands, reports Avishek Rakshit.
Economists praise Das for his pragmatism and willingness to face challenges head on. And in doing so with the finesse of an able administrator.
Financial Services Secretary Rajiv Takru said banks were trying to make a distinction between wilful defaulters and those genuinely stressed.
World's largest cell phone maker Nokia on Wednesday said up to 300 jobs would be cut in India by end of 2012, as the company embarks on restructuring that would affect 7,000 employees worldwide.
It may hit Kingfisher, Paramount restructuring.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Jack Ma, founder of China's e-commerce giant Alibaba suffered a major setback on Tuesday as Shanghai and Hong Kong Stock Exchanges suspended dual listing of the shares of his world's biggest initial public offer of $39.7 billion of the group's subsidiary - the Ant Group, 48 hours before the highly-anticipated trading was due to start. The Shanghai Stock Exchange surprised market investors with an abrupt announcement late on Tuesday that it will suspend Ant Group's IPO, as regulators and the public debate the balance between financial innovation and risk control, state run Global Times reported. According to media reports, the Hong Kong exchange followed suit several minutes later.
The company will offer a total of up to 15,06,44,759 ordinary shares
Sunil Mittal will become executive chairman.
Hindustan Motors said the company would consider restructuring its business.
Since work was suspended at the plant, worker unions have been on a sit-in protest.
Experts said the new framework has ensured that the focus has moved to creditor protection from debtor protection.
The Reserve Bank of India has submitted a list of big loan defaulters in a sealed cover to the Supreme Court with a submission that disclosing their names may have "adverse impact" for business and may "accentuate failure of business".
Says banks strong enough to tackle the problem on their own
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
The rise of China and India as car consuming countries and fall of major US automakers last year are candid reflections of the restructuring of the global auto industry, a Congressional report has said.
The power ministry is planning to start a second version of UDAY, aimed only at reducing the losses of discoms and improving the quality of power supply.
Ambani has investment in gas pipeline company Reliance Gas Transportation Infrastru-cture; Jamnagar-based power company Reliance Utilities and Power Ltd and Reliance Ports and Terminal Ltd.
Dubai World's bank creditors have offered their loans for sale ahead of the restructuring of the conglomerate's debts, in a bid to reduce exposure.
Want to appoint CFO, advisory board and governance committee.
The Aditya Birla Group announced the merger of its two holding companies, Aditya Birla Nuvo and Grasim, to make the holding structure clearer, ensure stable cash flows and unlock value in its financial services arm
While only the Indian Institute of Management, Ahmedabad (IIM-A) has voiced its concerns so far, the company says it has done so due to the ongoing restructuring of its business
Central bank likely to keep tabs on large wilful defaulters; policy likely by month-end.
RBI governor Raghuram Rajan says, laws must be tightened for freeloaders.
Eastman Kodak has said the US bankruptcy court has approved its bid to sell more than 1,100 patents related to digital imaging, a move aimed at restructuring the company that once led the photography market.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
India's biggest real estate developer is considering a major human resource redeployment to boost efficiency and productivity. This may lead to a further reduction in its workforce at several recession-hit businesses, which the company denied. DLF plans to restructure verticals such as homes, offices, retail, special economic zones, hotels and infrastructure. At present, all of them have separate human resources, accounts and marketing departments.
The company on Wednesday said P V Ramprasad Reddy would resign as executive chairman, while Nithyananda would also step down from his post.
Mayajaal Entertainment Ltd, which will be vested with the business activities of Pentamedia Graphics Ltd after a business restructuring, will apply for listing on stock exchanges in September.
