Star wrestlers Bajrang Punia and Vinesh Phogat's request to train in Kyrgyzstan and Poland respectively was approved by TOPS.
The NCLT said the new board must hold its meeting by October 8 and come out with a road map before the next hearing on October 31
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"
The June quarter is usually considered as a seasonally strong period for the IT sector.
IL&FS Mutual Fund is eyeing acquisitions and plans to launch six more schemes to increase its assets under management to over Rs 3,000 crore (Rs 30 billion) by the end of this fiscal.
Perhaps the way forward could be the introduction of uniform rating standards - on the lines of accounting standards for the accounting profession - with a separate regulating authority for enforcing those standards, says Sudipto Dey.
'The web of transactions is so complex that it requires expertise to understand the strategies involved in each fraud.'
Infrastructure major IL&FS has replaced the B Ramalinga Raju family as promoters of crisis-hit Maytas Infra and will pump in Rs 55 crore (Rs 55 million) to revive the company.
Days before B Ramalinga Raju admitted to fraud, a handful of financial services companies, including DSP Merrill Lynch, IL&FS Financial Services and Deutsche Bank's non-banking finance company, sold Satyam Computer Services shares pledged with them.
Declining to be identified, sources said the company, which is the third largest transmission company in the country, did not find the expertise provided by IL&FS to the consultancy business up to the mark and accordingly, decided to end the JV.
The CEOs have been discussing a collaboration for some time, according to two people with knowledge of the situation.
LIC Housing Finance (LICHF) delivered a healthy FY24 with improvements in net interest margin (NIM) and credit costs and an improved return on assets of 1.7 per cent compared to an average of 1.3 per cent between FY14-FY23. Loan growth was low due to technology upgrades to the platform in H1FY24, though momentum improved in H2FY24. In Q4FY24, the net interest income (NII) came in at Rs 2,250 crore.
The financial services sector, including NBFCs and housing finance companies (HFCs), have historically been the largest borrowers from MFs.
IL&FS Financial Services has acquired 14.5 per cent stake in Maytas Infra, promoted by former Satyam chairman B Ramalinga Raju's kin, through invocation of pledge and off-market transactions.
The ministry informed the tribunal that former head of ILFS Financial Services Ramesh Chandra Bawa withdrew/transferred Rs 1 crore and Rs 14 lakh from Axis Bank accounts in two instances which are in violation of the December 3, 2018 order of the tribunal which had frozen these accounts.
38 auditors resigned in 2022-23, compared with 46 the previous year.
Investors may take a 5 to 10 per cent exposure to silver. 'Have a long-term investment horizon when investing in silver ETFs to ride out short-term market fluctuations.'
IL&FS, which has a mandate to sponsor, develop and commercialise infrastructure projects and provide value-added financial services, will seek to provide a wide range of investment banking services to cater to the needs of Indian and international customers in Middle East and African markets.
In the case of Satyam Computer Services, L&T had acquired 8 per cent stake after the company's founder B Ramalinga Raju admitted to fraud, and had demanded representation on the company's board. The plea, however, did not find support. The promoters of Maytas had pledged shares with the two institutions and Sicom to raise funds.
Financial services company IL&FS Investsmart Ltd has fixed a price band of Rs 110 to Rs 125 for equity shares of Rs 10 each for its initial public offering.
Keki Mistry, bottom, left, vice-chairman, Housing Development Finance Corporation (HDFC), tells Joydeep Ghosh that debt fund investors could become risk-averse, leading to problems for other non-banking financial companies.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
Only investors with a higher risk appetite should enter these funds.
Continuing the efforts to strengthen its presence in telecom JV with Hutchison, Ruias' Essar Group is considering buying Max Telecom and IL&FS's 3.16 per cent stake in the Hutch-Essar joint venture.
Will Foreign Minister Mr. Jaishankar please refer to the RTI reply dated 27-1-2015...The Reply justified the circumstances under which India acknowledged that a small island belonged to Sri Lanka," Chidambaram said.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
Infrastructure Leasing and Finance Company is poised to acquire management control of the troubled infrastructure company Maytas Infrastructure owned by family members of Ramalinga Raju, former chairman and managing director of Satyam Computers, who confessed to financial fraud on January 7. The leading non-banking finance company is emerging as a government preference given its prominent role in infrastructure finance in the country.
Japan's Orix Corporation, which was in talks with Reliance Industries (RIL) to sell its 23.87 per cent stake in Infrastructure Leasing and Finance Company (IL&FS), has bowled a googly.
With eight of the nine apparel parks failing to take off, the government proposes to review the scheme and come out with a new one by March end.
Life Insurance Corporation of India, Housing Development Finance Corporation and State Bank of India together own a little over 45 per cent in IL&FS. The deal is expected to be valued around $2.5 billion.
The four-day selection trials began on Wednesday at NIS Patiala and SAI Regional Centre in Sonepat under the chairmanship of ad hoc panel member Bhupinder Singh Bajwa.
One fear among regulators is that allowing side pocketing could lead to fund managers taking higher risks. Even in the US, side pocketing is not allowed in mutual funds, only in hedge funds
The current episode highlights the structural vulnerabilities in the liquidity management practices of Indian NBFIs
Following alterations in the tax structure, mutual fund (MF) schemes that invest in overseas securities have experienced a sharp decline in inflows. In the first five months of 2023-24 (FY24), international MF schemes have received an average monthly gross inflow of only Rs 270 crore, compared to Rs 490 crore during the same period in the previous year. This decline persists despite nearly all fund houses opening subscriptions for such schemes, with higher redemptions creating headroom for fresh investments.
After the ice-breaking foreign secretary-level talks on February 25, India has conveyed to Pakistan its willingness to hold the second round of parleys, but is yet to get any response from its neighbour. India also has not heard anything from Pakistan on the three dossiers given to Foreign Secretary Salman Bashir by her Indian counterpart Nirupama Rao during the FS-level talks. The dossiers contained the names of the 34 Pakistani terrorists wanted in India.
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