The winning bid attracted over 99 per cent votes, with lenders overwhelmingly voting for a revival instead of recovery through liquidation.
Banks are in the process of getting a board-approved restructuring framework in line with the RBI's framework and eligibility defined by the central bank.
The MEA said the two sides agreed to continue discussions through diplomatic and military channels to resolve the remaining issues "at the earliest" so as to create conditions for the restoration of normalcy in the bilateral relations.
Prime Minister Narendra Modi on Friday urged bureaucrats to make national interest the sole basis of their every decision, saying the country has put its faith in them and they must uphold that trust.
A bankruptcy appeals court has scrapped billionaire Anil Agarwal-led Twin Star Technologies' winning bid to take over Videocon Industries Ltd on a plea by some creditors that the money offered imposed a steep Rs 62,000 crore haircut upon banks. The National Company Law Appellate Tribunal (NCLAT) asked creditors to initiate the fresh sale of Videocon, a consumer durables company manufacturing products ranging from air-conditioners to washing machines, for recovery of their unpaid Rs 64,637.6 crore. While a majority of lenders had previously accepted Twin Star Technologies' Rs 2,962.02 crore offer, Bank of Maharashtra (BoM) and IFCI Ltd dissented, saying the amount offered was close to the liquidation value of the bankrupt firm and that they cannot be paid less than the liquidation value.
Woefully inadequate infrastructure is just one of the many reasons why a case is not settled within 180 days and even 270 days as envisaged by the law, says Tamal Bandyopadhyay.
Kalrock Capital-Murari Lal Jalan combine has emerged as the frontrunner. A consortium of Imperial Capital and FSTC is the other bidder.
The Central Vigilance Commission has introduced key amendments in its complaint handling mechanism such as making it mandatory for people to provide mobile numbers while raising corruption-related plaints.
It was a replay of the annual general meetings of the cable companies of the M P Birla group last month even as the Birla side raised "illegalities" in the latest poll results.
Qin's first in-person meeting with Jaishankar on Thursday came on the sidelines of the G20 foreign ministers conclave in New Delhi amid the over 34-month-long border row in eastern Ladakh.
The discussions took place on the sidelines of the G20 Foreign Ministers' Meeting.
Modi said the new Parliament reflected the aspirations and resolve of the "new India" to set and work towards achieving new targets.
The full-court press on India over Ukraine, the BBC 'documentary', the Oxfam report, the Hindenburg attack on Adani and obliquely on the Indian economy, and any number of other acts are signs that India is a target, warns Rajeev Srinivasan.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
'China and India have encountered some setbacks in recent years which do not serve the fundamental interests of the two countries and the two peoples'
China plans to build a new highway along the Line of Actual Control (LAC) with India as part of Beijing's efforts to strengthen its strategic position and project its power, a media report said on Wednesday.
President Xi Jinping on Monday vowed to build China's military into a "Great Wall of steel" to protect its sovereignty and developmental interests as he sought a bigger role for Beijing in global affairs, days after brokering a Saudi Arabia-Iran detente, regarded as a diplomatic coup.
The Congress Working Committee, the highest decision making body of the grand old party, passed a resolution to this effect. The CWC, chaired by Sonia Gandhi earlier discussed the issue along with that of the farmers' agitation and the COVID-19 vaccination drive and passed three resolutions on each of them.
Two days after the India-China military talks, the joint statement, issued in New Delhi by the Indian Army said both sides had a 'candid and in-depth exchange' relating to disengagement along the Line of Actual Control (LAC) in the Western Sector of India-China border areas.
Jammu and Kashmir Chief Minister invited separatists' top leaders for talks with the all party delegation that is due to arrive in Srinagar on Sunday
Resolution professional, Ashish Chhawchharia, had informed the bankruptcy tribunal that two new investors had shown early interest for investing in Jet. One of them is a foreign investor from West Asia and the other is an Indian-entity-backed by a UK investor.
'The embassy of India is receiving a large number of calls asking about the confirmation of online classes by Medical Universities. In this regard, as informed earlier, the embassy is engaged with respective authorities for streamlining of the education process for Indian students'
Sunil Bhaskaran, AirAsia India's chief executive officer (CEO) and managing director (MD), is the front-runner to head the low-cost carrier that will take birth after the merger of Air India Express and AirAsia India, sources said. In a show of confidence, the airline's board extended Bhaskaran's tenure by three years -- until March 2025 -- in a meeting held earlier this year, according to the documents reviewed by Business Standard. Moreover, AirAsia India's board of directors has increased Bhaskaran's salary twice in 2022 -- first in January by 5 per cent and then in June by 7 per cent, the documents showed.
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
Nearly two months after the urination incident on its New York-New Delhi flight, Air India on Tuesday said it has closed the internal probe into the case and will assist the flight's pilot-in-command with an appeal against the suspension of his licence by DGCA as the airline deems the action as "excessive".
