The culture of these firms is alien to the Indian financial system. Distressed assets funds are known for their ruthless recovery ethics. Slicing and dicing a company and selling it on a piecemeal basis is their usual practice. This is something Indian banks are finding a little uncomfortable.
Anand Rayate, senior IAS officer and state coordinator for the Talathi Recruitment Exam-2023, said the statewide test conducted with the help of IT major TCS started at 11 am, instead of 9 am scheduled originally, after the fault was rectified.
The CIC's directive came while deciding on a plea by Lucknow-based activist Nutan Thakur, who had based her RTI application on some media reports that RBI deputy governor Viral Acharya in a lecture in 2017 had said accounts of some loan defaulters have been sent to banks for resolution.
Delhi high court restrained the media from revealing the identity of the victim by any means.
There was no official word on the outcome of the talks.
The development comes after after reaching a consensus in the 16th round of military talks, the two sides said in a joint statement this evening.
India on Thursday said it cannot be compelled to participate in "illegal" proceedings at the Permanent Court of Arbitration over the Kishenganga and Ratle hydropower projects in Kashmir after The Hague-based tribunal ruled that it has the "competence" to consider the dispute between New Delhi and Islamabad on the matter.
The Congress units in Rajasthan and Chhattisgarh, the only two states where the party is in government on its own, have passed resolutions that Gandhi be made the party's president.
The National Company Law Appellate Tribunal (NCLAT) on Monday dismissed the petition filed by an employee association of debt-ridden Jet Airways, challenging the sale of two floors of office space in Mumbai's business district of Bandra Kurla during the insolvency process of the grounded carrier. Jet Aircraft Maintenance Engineers Welfare Association (JAMEWA had challenged the orders passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on June 11, 2021, allowing the sale of the office space for Rs 490 crore. The association had contended that the sale of BKC property, was not permissible under the Insolvency & Bankruptcy Code (IBC) as a moratorium was declared over the assets of the company after an order dated June 20, 2019.
Letters purportedly written by some panchayat heads in Haryana's Mahendergarh, Rewari and Jhajjar districts "banning" Muslim traders from their villages have surfaced online, amid communal tension in parts of the state.
With party observers slamming some actions of loyalists of Chief Minister Ashok Gehlot, sources said decision on issuing show cause notices to miffed MLAs, who have been vocal in public, will be taken after interim chief looks Sonia Gandhi into the report by the observers sent to the state.
The gross bad debt of the Indian banking system as of March was at Rs 7.11 lakh crore
The cut-off date the RBI chose was March 1, 2018. This meant that by the end of August if these accounts were not resolved, then they would have to proceed through insolvency.
The 21st Law Commission said the special status given to the entity of HUF was a 'so-called gift by the British', who could not comprehend the complex socioeconomic structure of Indian families. 'Now, this status is being used for the evasion of tax only,' it said.
Patanjali, the lone player left in contention after the exit of Adani Wilmar, had last month increased its bid value by around Rs 200 crore to Rs 4,350 crore for Ruchi Soya.
IMAGES from the World Cup match between England and Sri Lanka, at the M Chinnaswamy Stadium in Bengaluru, on Thursday.
USA withdrew from Russian-led International Boxing Association and is set to join the breakaway federation.
The Adani group said Reliance Infrastructure, part of the Reliance Anil Dhirubhai Ambani Group, had initiated arbitration on one specific dispute under the Share Purchase Agreement (SPA) in December 2021 with a claim for just Rs 500 crore. Adani said it has filed counterclaims against the Ambani company. The Adani group firm, Adani Electricity was reacting to a Reliance Infrastructure statement of last week, which said it has filed an arbitration claim of Rs 13,400 crore against Adani Group in the Mumbai Centre for International Arbitration (MCIA). Reliance had cited a breach of a December 2017 share purchase agreement relating to the transfer of its Mumbai power distribution business to Adani Transmission.
Major Indian businesses and temples issued a joint statement opposing the proposed California Caste Bill SB 403.
'If you are constructing the tunnel in the Himalayan region, then if you have constructed 10 metres of tunnel, first you will have to do proper treatment and ensure the stability of this constructed structure.' 'You cannot just throw concrete on the ceiling and sidewall of the tunnel for permanent stability. That will not work.'
'A 180-days period -- for insolvency resolution -- is aggressive, but by no means inadequate.'
The government on Friday gave wide-ranging legislative powers to the Reserve Bank of India to issue directions to lenders to initiate insolvency proceedings for the recovery of bad loans.
India and China on Friday are holding another round of high-level military dialogue to resolve the 22-month-long standoff in some friction points in eastern Ladakh, two months after the last round of such talks failed to yield any significant outcome.
Setting aside the NCLAT order, a 3-judge bench headed by Justice R F Nariman, said the two set of creditors will be treated differently during the insolvency proceedings and taking over of a debt-ridden firm by another company.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
He supervised and handled several major big ticket insolvency cases that includes Essar Steel, Bhushan Power & Steel, Bhushan Steel, Jaypee Infratech, ElectroSteel Steel, Binani Cement, Reliance Communications.
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
Supporters say the new sales tax will add up to two percentage points to India's economic growth
Is there no mechanism to abrogate Article 370 even when the people of Jammu and Kashmir want it, the Supreme Court asked on Thursday and wondered if the now repealed provision can't be touched, will it not amount to creating a "new category" beyond the basic structure of the Constitution.
On Jawaharlal Nehru's 134th birth anniversary, Utkarsh Mishra recounts incidents where the first prime minister showed exemplary courage, bravery and integrity.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
Law Minister Kiren Rijiju on Tuesday said it was a "matter of grave concern" that certain portions of sensitive reports of the Intelligence Bureau and Research and Analysis Wing were put in public domain by the Supreme Court collegium.
The increase in violence along the Line of Control in the last few weeks indicates that despite the olive branch offered by Pakistan Prime Minister Nawaz Sharif, hard-line elements in Islamabad are in no mood to become friendly with India.
Sources said Unsworth had submitted a one-page letter indicating his interest in Jet but without any accompanying documents.
'...to prevent this episode from disrupting ongoing cooperation.' 'The discovery of this plot had the potential to derail much of what has been achieved in the relationship during this administration's tenure -- I don't think that fact has been sufficiently appreciated in India.'
The revised offer will mean the lenders will have to write off 60 per cent of their dues.
The Opposition intensified its noisy protests in Lok Sabha on Wednesday over Pegasus snooping, farm laws and other issues with some unruly members even hurling papers and torn placards in the House, but the government went ahead with its legislative agenda and three bills were passed amid the din.
Aditya-L1 will be launched by PSLV-C57 rocket on September 2 at 11:50 am. It carries seven payloads to study the Sun, four of which will observe the light from the Sun and the remaining three will measure insitu parameters of the plasma and magnetic fields.
'India is respected by both Israel and Palestine.' 'India can push the international community for the peace process.'
