While slow execution and delays in infrastructure projects have led to a payment crisis as recovery of dues is a big challenge, banks are breathing down their necks for loan repayment.
Sikka pays 4 business heads million-dollar salaries as incentive to reach the company's revenue target of $20 billion by 2020.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
By 2022, the entire job landscape would undergo drastic change.
Blame it on improved business climate, restructuring within companies or just the basic need to pursue better opportunities -- the Indian information technology industry is seeing heavy churn at the top.
The airline has proposed to raise authorised share capital to Rs 2,200 crore. This would comprise Rs 680 crore of equity capital and Rs 1,520 crore of preference share capital.
There are 50-odd auto component manufacturers from India who supply to Detroit's Big-3 (including Ford).
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
Global travel and payment services firm American Express will be trimming another 4,000 jobs representing nearly 6 per cent of its global workforce, as the firm continues its efforts to cut down costs.
The company has separated SMB, earlier part of its consumer division, to make it an independent business.
With the management of most State-owned banks hardly having time to concentrate on big-ticket business, growing the business of loan disbursals has been pushed down the priority order.
Delhi-based low-cost carrier SpiceJet is looking at restructuring its core leadership team as part of US investor Wilbur Ross's strategy of turning around the company.
The deal will provide Suzlon with much needed liquidity.
Loan defaults and restructuring to limit profits.
Also, dedicated resources for top 60 clients, in a set of moves to encourage growth.
The newly appointed (by the government) board members, O P Vaish and Ved Jain, said the company and its lenders were expected to reach an agreement in this regard by March 25. The board met in Hyderabad under the chairmanship of Vaish and sought information on the state of the company and the various projects it was implementing and negotiating. Vice-Chairman B Teja Raju and Additional Director B Narasimha Rao were present.
The two signed the deal almost six years after a business restructuring announced by them.
The government's plan to restructure Air India, the loss-making state-owned airline, includes a proposal to rework the troubled productivity-linked incentive scheme, which accounts for over 45 per cent of the company's Rs 3,000 crore wage bill.
On whether the bank will consider making fresh advances to Kingfisher, SBI managing director Hemant Contractor said, "We have to be satisfied about the viability of the company.
Cairn wants the stakes that its different subsidiaries, including those registered abroad as well as showpiece Rajasthan oilfields, hold in oil and gas properties, to be transfered into one India-based company.
The cash-strapped real estate developer is in talks with banks to restructure its outstanding debt of Rs 1,825 crore (Rs 18.25 billion).
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
US auto major Chrysler on Friday said it has received four billion dollars as emergency loan from the government, a move to avert a collapse of the ailing automaker.
Cash-strapped retail chain Subhiksha on Friday said the ongoing corporate debt restructuring (CDR) process in the company will be over by July and added that law allows a maximum of up to 180 days for completing it.
Rishad joined the company in June 2007.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
Wipro Technologies on Tuesday said the company would have to wait at least three quarters to reap benefits from realigning the organisational structure.
The Kolkata-based company, which has already cut the number of unviable stores to 74 from 140, said it is open to shutting down more unprofitable stores. The company has over 1100 stores in India and 2,000 SKUs. In an attempt to boost efficiency Bata introduced a voluntary retirement plan for its employees in the quarter ended September 30, 2008.
In recent past, midcap stocks have performed well, say experts.
While players in the financial ecosystem are opening up to the idea of receivables funding for the sector, this market needs a regulator, which a Parliament panel feels only RBI can provide.
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.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
The government is ready to support Air India, but wants the airline to improve its performance.
Remunerations dominated former India coach Anil Kumble's 19-page proposal on restructuring of contracts to the Board of Control for Cricket in India in which he had demanded that the 'chief coach should earn 60 percent of the captains' estimated earnings'.
The RBI panel has also recommended a government-sponsored 'fund of funds' of Rs 10,000 crore to support the venture capital and private equity firms investing in the MSME sector.
Fresh PoEM guidelines will affect pharma, energy, automobiles, manufacturing and software companies.
DLF, India's biggest real estate developer, has repaid dues and may not need to approach lenders to take advantage of a central banks relaxed rule that allows banks to restructure cash-strapped real estate companies loans.
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
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