PV Sindhu still has the hunger to succeed, and the primary aim is to help her regain consistency, says her new coach Anup Sridhar, who has been roped in by the two-time Olympic medallist on a trial basis following the Paris Games.
She looked like the prettiest princess of them all.
Glimpses from the Indian Air Force participation in the multinational Red Flag 24 exercise at the US air force's Eielson base in Alaska.
JM Financial Consultants, Arpwood Capital and Alvarez & Marsal will advise the board going forward
In three separate but similarly-worded orders, Sebi said the default by IL&FS occurred due to "lethargic indifference and needless procrastination and laxity" of the rating agencies.
Sources said Sankaran has been arrested on the grounds of abusing his powers in IL&FS Financial Services Ltd through fraudulent conduct and in granting loans to entities that were not credit-worthy or were declared as non-performing accounts.
Earlier in the day, an IndiGo A320 passenger aircraft landed successfully at 1.32 pm at runway 08/26 of the under-construction Navi Mumbai International Airport, paving the way for the Navi Mumbai International Airport Ltd (NMIAL) to seek an aerodrome licence from the aviation safety regulator Directorate General of Civil Aviation (DGCA) to start commercial flight services.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
What ex-IL&FS top brass got for loans? Foreign trips, private jets and chopper rides.
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
Japan's march to the 2026 World Cup continued on Tuesday as Hajime Moriyasu's side handed China a 3-1 defeat in Xiamen while Iran eked out a late 3-2 win over Kyrgyzstan and South Korea were held to a 1-1 draw by Palestine.
A tribunal consented with the decision of the newly constituted board of the IL&FS and observed that the initiation of bankruptcy proceedings was the best option for the two firms.
Deloitte had challenged the jurisdiction of the NCLT to ban it, saying section 140(5) of the Companies Act pertains to auditors who are still auditing the company in question while it has already resigned from the service and thus cannot be banned under the given provisions.
Joint MD of the company Arun K Saha and MD of transportation network K Ramchand were arrested late evening in Mumbai under the Prevention of Money Laundering Act.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
For non-banks, the IL&FS crisis was nothing short of India's Lehman moment, which has for a foreseeable future reset the sector on multiple grounds.
PV Sindhu cruised into the women's singles final with a dominating straight-game win over fellow Indian Unnati Hooda in the semis.
Alvarez & Marsal will develop a detailed restructuring plan for the group to demonstrate to shareholders and lenders that it was self-sufficient in repaying its liabilities. So far, the IL&FS management had been working on its revival plan.
Two-time Olympic medallist PV Sindhu overcame a sluggish start to defeat world number seven Han Yue of China in a thrilling contest, progressing to the quarterfinals of the Denmark Open Super 750 badminton tournament on Thursday.
The board will first need to unpack IL&FS - it has 169 group companies with 24 direct subsidiaries, 135 indirect subsidiaries, six joint ventures and four associate companies, says Amit Tondon.
The corporate affairs ministry proposed the names of Borkar & Mazumdar & Co and MM Chitale & Co for IL&FS and IFIN respectively; and GM Kapadia & Co and CNK & Associates for IL&FS Transportation Networks.
The auditors -- the local arms of the Big Four global firms Deloitte Haskins & Sells and KPMG which has BSR & Associates as an affiliate here-had challenged the jurisdiction of the NCLT to ban them.
Under the plan, the government has categorised IL&FS group companies into green, amber and red based on their respective financial positions.
PV Sindhu says if she remains injury-free and in peak physical condition, she will aim for a third medal.
They have also been accused of extending loans for criminal intent of falsification of repayment by a number of borrowers, including some entities associated with large corporate groups.
Even erstwhile independent directors were being paid substantial remuneration including commission. The median annual salary of IL&FS employees was Rs 13.1 lakh.
The ED is contemplating a special audit of the account in the backdrop of rating agencies downgrading various debt papers of IL&FS.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
The first tranche was raised a few weeks ago and the company was looking to raise more if needed.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
But it does not mention its views on the government demand to ban these two auditors for five years from business.
PSB executives said loans to group holding company IL&FS and entities might still be treated as "standard".
The IL&FS group has a complicated structure, with the holding company owning stakes in its financial services arm as well as the subsidiaries that operate its infrastructure assets.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
Will have to take impairment of Rs 15,000 crore before recovering a single rupee from its arms
The NCLAT said the RBI cannot restrict it from prohibiting banks from 'asset classfication' and observed that any change in this order would upset the entire resolution process of the IL&FS
Vladimir Putin -- who only travels to countries (like China, North Korea) where he cannot be arrested and extradited to The Hague to face the International Court of Justice -- embraces Kim Jong Un on his arrival in Pyongyang early on Wednesday, June 19, 2024.
The ministry has also made Udayen Sen of Deloitte, and Kalpesh Mehta and Sampath Ganesh of BSR as respondents as they were the signatories of the audit reports of the company.
Two young men jostle in a rickshaw as it clatters along a narrow, bustling lane of North Kolkata, each with a leg dangling over the side of the vehicle, a bulging sack of cosmetics nestled between them. The protagonists here are the founders of Emami - Radhe Shyam Agarwal and Radhe Shyam Goenka - childhood friends who gave up cushy corporate jobs to build a fast-moving consumer goods (FMCG) company. From a 200-square-foot rented space on Muktaram Babu Street in North Kolkata, brand Emami stepped into the competitive world of FMCG 50 years back, armed with just three products: Vanishing cream, talcum powder, and cold cream.
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