The time-bound nature of the bankruptcy code, envisaging resolution within 180 to 270 days, would put enormous pressure on the existing judicial infrastructure.
In several places, from roof-tops and flyovers, people showered petals and garlands on the truck.
Ravi Mittal, CEO, Quack Quack, explains how casual dating will pave the way for manifest dating and more serious relationships in 2024.
Once the bankruptcy provisions are notified, these proprietary firms will benefit, as Insolvency and Bankruptcy Board plans to consider them as individuals
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
Insolvency and Bankruptcy Code bound stocks have witnessed a steep fall in 2018.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
'They will continue to keep pricking at places where both of us are sensitive and keep the LAC alive.'
The Eastern Command General Officer Commanding-in-Chief also said India is giving shelter to anyone from Myanmar seeking refuge, including common villagers, army or police, in Mizoram and Manipur, but not armed cadres of militant groups of drug traffickers.
If tweets can do so much, why do we need an independent regulator and multiple committees discuss and recommend policy?
Sonia aid the Congress has been consistent over the years in its strong belief that both the Palestinians and Israelis have the right to live in a just peace.
Debt-ridden Future Group is now focusing on saving and rebuilding firms such as -- Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT). Other companies like Future Enterprises Ltd (FEL), Future Lifestyle Fashions Ltd (FLFL), Future Supply Chain Solutions Ltd (FSCSL), Future Consumer Ltd (FCL) can sustain on their own and can be rebuilt by restructuring their liabilities with the help of current lenders and investors, said an industry source close to the Future Group.
The contract was cancelled two weeks ago due to the delay in the delivery of the vessels, sources said. The contract to build five warships was signed with the company in 2011, much before the Reliance Group took over the Gujarat-based shipyard from its erstwhile owner Nikhil Gandhi.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
Congress MLA from Nuh Aftab Ahmed on Thursday demanded strict action against those village panchayats in Haryana that have allegedly 'banned' entry of Muslim traders into their villages.
With the Pradesh Congress committees passing resolution seeking Rahul Gandhi at the helm of All India Congress Committee, party General Secretary, Jairam Ramesh on Tuesday said such measures have no binding effect.
Byju's is in talks with three-four strategic buyers, including Joffre Capital Ltd and language learning platform Duolingo, to sell one of its key assets, US-based digital reading platform Epic, for about $400-$450 million, according to sources. With this, the beleaguered edtech firm wants to meet various commitments, including repaying its entire $1.2 billion term loan B (TLB) within six months. "The binding offers of the bidders to acquire Epic are expected to come in the next few weeks after the due diligence is complete," said a person familiar with the matter.
The National Company Law Tribunal (NCLT) on Wednesday admitted Go First's voluntary plea to initiate the insolvency resolution process against the airline. A two-member bench comprising President Justice Ramalingam Sudhakar and L N Gupta also appointed Abhliash Lal as interim resolution professional (IRP) to run the debt-ridden company. It has also put the company under protection of moratorium and directed the suspended board of directors to assist the IRP to run the company during insolvency proceedings.
RBI has identified about 50 cases for NPA resolution after it was empowered by the government to ask banks to initiate insolvency proceedings.
'She had the courage to not cow down before the entire law and order apparatus, to remain sane and human despite inhuman suffering meted out to her and her family.'
This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.
Members from the Jayant Chaudhary's Rashtriya Lok Dal too were part of the group, their participation seen as another indication that the party is all set to switch sides from the SP to the ruling Bharatiya Janata Party ahead of the Lok Sabha elections.
India's first solar mission, if successful, will showcase ISRO's ability to explore the cosmos, explains Kumar Abishek.
Public sector lender Bank of India has moved to the National Company Law Tribunal (NCLT) seeking initiation of insolvency proceedings against Future Retail Ltd and a moratorium over the assets of the Kishore Biyani-led debt-ridden firm. Besides, Bank of India (BOI), the lead banker of a consortium of banks that lent money to Future Retail Ltd (FRL), also suggested the insolvency tribunal appoint Vijay Kumar V Iyer as the interim professional of the company. Meanwhile FRL, in a regulatory filing, said it has been served and received a copy of the petition and is in the "process of taking legal advice".
Neither the BJP, nor the Congress before it, made any manifesto commitments on defence spending, even though allocations have plummeted from 4 per cent of gross domestic product (GDP) in the late 1980s to less than 2 per cent today, points out Ajai Shukla.
Leterme contended that there is a need for the United Nations Security Council to adapt to the realities of the 21st century as it requires representation that goes beyond the structures established in the 20th century.
Easier dilution norms for mega initial public offerings (IPOs) have come into effect. Companies with post-listing market capitalisation (m-cap) of more than Rs 1 trillion will not be required to dilute a minimum of 10 per cent. The move to relax dilution norms is seen as a precursor to Life Insurance Corporation's IPO. The central government has said companies with an m-cap exceeding Rs 1 trillion will have to dilute Rs 5,000 crore and at least 5 per cent of their m-cap. Experts said the earlier framework discouraged large companies from listing since they were forced to offload a large volume of shares during the time of their IPO.
Anil Ambani had given a personal guarantee to the loans given by SBI to Reliance Communications and Reliance Infratel in August 2016.
Maharashtra Deputy Chief Minister Ajit Pawar-led Nationalist Congress Party has informed the Election Commission that he has been elected national president of the party.
There may be those who could want to go slow, citing the large pendency of follow-up action and court cases that they would have to process and/or proceed with, before raiding more politicians, observes N Sathiya Moorthy.
Seattle has become the first US city to outlaw caste discrimination after its local council passed a resolution, moved by an Indian-American politician and economist, to add caste to its non-discrimination policy.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
Jet Airways, which is yet to resume operations under its new owner, will reduce salaries for various staff and send many employees on leave without pay, amid uncertainty over resumption of its operations. The measures, which will be effective from December 1, were revealed hours after the winning bidder Jalan-Kalrock Consortium (JKC) said it might take "difficult" near-term decisions to manage cashflows. The once-storied airline shuttered operations in April 2019 and JKC's resolution plan was approved under the insolvency process by the National Company Law Tribunal (NCLT) in June last year.
Wilful defaulters, responsible for non-performing assets for over a year, would be prohibited from taking over an insolvent company.
A day after the nearly 12-and-half-hour talks, the two sides, in a joint statement on Monday, reaffirmed that the resolution of the pending issues would help in the restoration of peace and tranquility along the Line of Actual Control (LAC) in the region and enable progress in bilateral relations.
When Jet Airways shut operations, the slots which were allocated to it were temporarily distributed among various airlines. And, the airlines that were called upon to immediately create infrastructure so that the public at large does not face any hardship have invested huge amounts of money to created infrastructure to utilise such slots. "In view of this, though the allocation of slots to such airlines is temporary the same can't be withdrawn from them without any legitimate basis.", the affidavit said.
The watchdog would also endeavour to do its best to help the company revive its operations within the set regulatory framework.
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
Foreign policy is always a work in progress and ups and downs are built into foreign policy process. What is permanent is national interest. Hopefully, this year, which will also witness general elections in the country, will also clear clouds in the foreign policy horizon, observes Rup Narayan Das.
The scaling up of the India-US strategic partnership to the level of non-NATO ally with defence deals, sharing and transfer of defence technology, interoperability, joint collaboration and joint production of defence equipment has exacerbated Moscow's anxiety, notes Rup Narayan Das.
