Foxconn, the Taiwan-based contract manufacturer of mobile phone parts, will suspend its operations at the facility near Chennai from December 24, following a change in manufacturing requirements of clients in the country.
Pointing out to the 133-acre Dhirubhai Ambani Knowledge City on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and pegged the potential value creation at the site at Rs 25,000 crore.
Component makers don't see any recovery yet, but manufacturers believe the end of poor sales is nearing its end.
India's debt recovery and restructuring framework is still a work in progress, even six months after the President's assent to the Insolvency and Bankruptcy Code 2016.
The government may have to resort, eventually and however unwillingly, to printing money, abandoned as policy and practice in the 1990, predicts T N Ninan.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Key proposals not feasible for BSNL, says telecom official.
As Wipro enters the new financial year, fresh after the organisational restructuring, it has given a muted revenue guidance for the next quarter, which has not gone in well with the market.
The two nations share a problem of corporate debt gone bad that is so large and opaque.
The VRS notice was pasted on the gates of the company's Uttarpara unit by the management, which said all workers would be paid their statutory dues plus and additional amount of Rs 100,000 each.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
Microsoft also took a charge of $940 million related to job cuts announced this month and last year.
The board of Marico has approved a stock split in the ratio of 1:10. The company will sub-divide each of its equity shares of a nominal value of Rs 10 each to ten shares of Re 1 each.
Concerned over banks hiding their actual NPA numbers, RBI Governor Raghuram Rajan on Tuesday said the central bank is "increasingly turning towards taking action" on such divergences.
The company, which is present in India through a joint venture with Tata Motors, recently restructured its board in India by replacing two of its directors.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
State-owned National Aviation Company of India Ltd (Nacil), which runs Air India, has approached the government to raise $2.3 billion through external commercial borrowings (ECBs) as part of a plan to restructure its high-cost working capital debt.
The space agency has set 2020 as the deadline for the first privately built rocket to be launched into space.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
The norms will affect companies in pharma, energy, manufacturing, software sectors.
The government has till now injected Rs 2,000-crore (Rs 20-billion) fresh equity into the airline.
Major shareholders to buy workers' shares in northern gardens.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
Finance Minister P Chidambaram on Thursday made a double pitch for public sector companies. First he urged private sector companies to enter into joint venture partnership with PSUs
As a measure to increase productivity and reduce costs amid rising jet fuel prices, low cost airline GoAir has reduced the number of flights to various sectors.
Co-founder Nilekani could take the role of non-executive chairman, becoming a bridge between the board and Murthy, reports Ayan Pramanik.
After considering all options, the company has decided to enter into a negotiation with the employees, given the challenging industry situation in telecom R&D.
Indiabulls Financial Services Ltd said on Friday it will seek shareholders approval for restructuring and re-organisation the company's businesses through the demerger of its real estate business into Indiabulls Real Estate Ltd. \n
There is a case for analysing the fiscal deficit, separately for expenditure and investment.
Jet and Etihad have already agreed upon a Rs 4,000-crore interim financing plan according to which Etihad will put in Rs 750 crore either on its own or from an offshore or onshore lender, and a matching amount will be provided by the Jet lenders.
Sony Corp does not plan to renew its sponsorship contract with FIFA, the governing body for world football, as the Japanese electronics maker needs to prioritise its restructuring efforts, people familiar with the matter said.
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
According to tax experts, the restructuring would lead to a much lower tax outgo on dividend distribution.
In December last year, Amazon invested over Rs 1,700 crore into its payments and wholesale business units in India, while in October it had infused over Rs 4,400 crore (more than USD 600 million) in its various units in India, including marketplace and food retail. Bezos last visited India in 2014 when he presented Amazon's Indian unit with a giant cheque for USD 2 billion. Since then, Amazon has pledged a further USD 3.5 billion to expand in the country and the USD 1 billion investment announced on Wednesday would take the total committed investment to USD 6.5 billion.
Vijay Mallya, promoter of debt-ridden Kingfisher Airlines, would have his stake falling a little below 50 per cent in the company, if a comprehensive debt restructuring is approved by the shareholders on December 20. On a fully diluted basis, it will drop by little over 16 per cent from the current 66 per cent.
Companies that have announced CDR plans during the last year include Kingfisher Airlines, Wockhardt, Vishal Retail and the unlisted Air India.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances