As part of restructuring, Tata Steel UK informed its lenders on Tuesday that it would prepay debt of over 200 million pounds to continue its objective of making its European operations debt-free. Non-recourse debt is a secured loan that is availed of by pledging collateral but there is no personal liability on the part of the borrower.
ATC operations provide over 60 per cent of AAI revenue. The move is to ensure focus on revamp of ATC, particularly the key area of staff hiring, where there is a big shortage.
The reshaping programme has been announced to combine and streamline group's three global research and development operations into one Unilever R&D organisation to improve efficiency, a company statement said.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
One associate feels rebuilding trust in existing and prospective clients will take six months to a year. "Currently, it's business as usual for those who are involved in project development but not for those in business development. We don't have financials and without it we cannot convince clients about our capabilities. Now that we have come under the umbrella of Tech Mahindra, things may change for the good soon," he said.
The money is expected to be disbursed by the lenders consortium led by SBI after the Jet management submits an operational plan on how it intends to use the money till May 7.
Move to ensure deals do not hit govt licence fees, revenue share.
SBI was slow in filing and following up on winding-up cases.
Not chasing IIM-A graduates whose joining dates have been deferred by rival Flipkart, says the company
There were concerns in some quarters that the airline would defer the purchase of some aircraft in order to save costs.
A Group of Ministers on public sector Steel Authority of India Limited will meet on Friday to review its performance and restructuring.
The company cited the global financial turmoil and shareholders' objections as reasons for the sudden change of plan. On September 9, Vedanta had said it wanted to reorganise businesses under three major subsidiaries, creating a group for copper and zinc, another for aluminum and energy (mainly power) and the third for iron ore.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
Cash-strapped retail chain Subhiksha Trading Services on Monday ruled out declaring bankruptcy and said it may consider selling stake to raise funds as it struggles to arrange Rs 300 crore (Rs 3 billion) to meet immediate operational requirements.
Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure adequate liquidity in the system to ease the financial stress caused by the Covid-19 pandemic. The central bank reduced the reverse repo rate -- the rate at which banks park their fund with the central bank -- by 25 basis points to 3.75 per cent.
The privately-held company founded by Indian-American Amar G Bose would not say how many positions would be eliminated at its corporate headquarters in Massachusetts or how many workers it employs there. Bose issued a statement on Tuesday saying it was 'restructuring its operations in response to the decline of the global economy, and its impact on consumer spending.'
With the amendment, firms like EY and Deloitte can work as resolution professionals instead of only their partners enrolling as insolvency professionals.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
Banks and financial institutions are seeking more flexibility in dealing with commercial and industrial loan accounts, which are seeing pressure due to cash flows and repayment.
Earning a salary? Looking to save tax the smart way? You have two options: salary restructuring and tax-saving instruments.
Developers in the past year have restructured debt, sold non-core assets and tweaked the product mix, helping push up sales. This has encouraged investors to buy stocks of real estate companies and motivate analysts to revise price targets and upgrade the outlook on the sector. Reflecting the positive sentiment, the Bombay Stock Exchange Realty Index rose 58 per cent in the past month, outpacing the benchmark Sensitive index's gain of 27 per cent.
Calling for 'fundamental restructuring' to put India back on its growth trajectory, McKinsey said on Wednesday that the country will run out of capital to support economic expansion.
Sportswear maker Nike Inc will be reducing nearly 1,750 jobs, representing nearly five per cent of its global workforce, as part of its restructuring efforts.
The National Aviation Company of India Ltd, that runs the government's flagship carrier Air India, has formally begun looking for a chief operating officer to steer the airline as part of its restructuring plan.
In a resolution passed at its national assembly in Haridwar, the SJM said the Modi government's proposed strategic divestment of PSEs was an "imprudent business decision" and "against national interest".
Move comes in view of big debt overhang in two sectors; companies unwilling.
Move comes in view of big debt overhang in two sectors; companies unwilling.
V-Mart, Manaksia, Whirlpool Global and few other companies posted better third-quarter results.
Wockhardt had a net debt of Rs 3,400 crore (Rs 34 billion) as of December 2008. It was hoping to reduce this, sources said, by selling its Irish subsidiary, Pinewood Laboratories, and a stake in Habil Khorakiwala's privately-held Wockhardt Hospitals. A Wockhardt spokesperson declined comment. An e-mail sent on Tuesday to the chairman remained unanswered.
Nearly 150 senior management staff will be asked to leave.
For willful defaulters, change in ownership accompanied by punitive action against the defaulting management is the way to go.
There has been, a nominal increase in the aircraft maintenance cost.
The government's financial restructuring plan for loss-making Air India may include a staggered infusion of equity, entailing an initial infusion of around Rs 1,300 crore (Rs 13 billion), going up to around Rs 2,000 crore (Rs 20 billion), depending on the company's need.
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