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.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
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 unlisted company is seeking equity, debt infusion.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
The verdict, upholding Centre's November 15, 2019, notification bringing personal guarantors of corporate debtors under the net of the IBC, assumes significance in view of the fact that various high-profile industrialists may now face insolvency proceedings along with their debt-ridden firms under the IBC.
'Under National Security Advisor Ajit Kumar Doval and now Chief of Defence Staff General Bipin Rawat, India began to actively work on Pakistani internal faultlines with a possibility of the break-up of Pakistan as the only solution,' observes Colonel Anil A Athale (retd).
If your answer is yes, this is just what your need to read today.
Justice Joseph, who had once taken part in an unprecedented presser along with Gogoi, Justices J Chelameswar, Madan B Lokur (all retired) on January 12, 2018 on the functioning of the apex court, made his stand clear on the former CJI accepting nomination to the Upper House.
There is no reason for keeping an entire ministry with a total staff strength of 2,300, just for the oversight of a few aviation sector laws and regulatory bodies, notes A K Bhattacharya.
The court observed this while dismissing an appeal of a man who had challenged a Family Court order that allowed a plea of his wife for divorce on the ground of cruelty.
'In South Asia, unlike Southeast, East, or Central Asia, there is a natural hegemon: India. China cannot cast it aside easily'
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
The only way out for DMRC would be if the lenders, a consortium of 10 banks, find another concessionaire for the project
There can be as many as six co-applicants in a joint loan.
Pompeo, who became the Trump administration's highest ranking official to visit Sri Lanka, said that the US and Sri Lanka shared a vision for democracy to build a relationship and the "freedom to hold democratic elections".
People who are close to retirement and don't intend to go back to full-time work again should deploy a part of their VRS money in equities so that it keeps growing at a faster rate.
A healthy CIBIL Report and a high CIBIL TransUnion Score indicates that you are managing your loans and credit relationships well and are financially savvy
Was Kerkar duped by his employees, as he claims, or did a cocktail of greed, poor cost control and bad management bring the travel firm down, wonder Pavan Lall and Aneesh Phadnis.
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".
German Chancellor Angela Merkel and French President Nicolas Sarkozy could not resolve their differences over further boosting the European Financial Stability Facility, recapitalisation of European banks heavily exposed to sovereign debts and a partial write-down of Greek government's debts at a two-hour emergency meeting in Frankfurt on Wednesday night.
Vodafone Idea's net worth (or shareholders' equity) was down 73 per cent year-on-year to around Rs 17,600 crore at the end of the December 2019 quarter after the company reported a net loss of around Rs 6,400 crore during the quarter. Cumulatively, the company has lost nearly Rs 45,000 crore in the last four quarters, eroding its net worth to its lowest level in three-year. Analysts said a such a low level of net worth, coupled with continuing losses in operations, ruled out the possibility of the company getting fresh loans from lenders to fund its adjusted gross revenue (AGR) dues of Rs 54,000 crore.
Check out these four debt fund categories for investment this year...
The India-US joint statement said as responsible stewards in the Indo-Pacific region, Trump and Modi agreed that a close partnership between the United States and India is central to peace and stability in the region.
Interior Minister Hans Peter Friedrich caused a stir ahead of the vote by openly calling for a 'voluntary exit' of Greece from the Euro zone.
The new Insolvency and Bankruptcy Code has serious drawbacks, finds out Somasekhar Sundaresan.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
As FIIs pull out of road projects, doubts have surfaced about the future of new highways and roads
An emergency arbitration hearing between Amazon and retail conglomerate Future Group took place last week and a verdict is expected in the next few days, according to sources.
The agreement between Merkel and Sarkozy was struck at a surprise meeting in Berlin on Wednesday night during discussions lasting more than six hours in the chancellery.
'It doesn't look as if any sensible, worldly wise, person is in charge in China.' 'If at all anybody is in charge, it can only be a bunch of bumpkins of whom Xi has become a puppet,' observes B S Raghavan, the veteran civil servant.
Experts say Biyani will now become a contract manufacturer of fashion and FMCG products, with the Reliance group being one of his customers.
The Supreme Court Monday said the Centre was testing its "patience" and "emasculating" tribunals by not appointing officials to the quasi-judicial bodies which are facing severe crunch of presiding officers as well as judicial and technical members and sought action on the matter by September 13.
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
The trust deficit has widened with buyers losing confidence in a developer's ability to construct and deliver a project on time.
A 61-year-old doctor was shot dead at his clinic in south-west Delhi's Palam area by an unidentified assailant, police said on Saturday.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
