Stressed PSBs said in Thursday’s meeting with the ministry that they would be affected by the RBI rule. The finance ministry will renew calls for
Month: May 2018
Binani Cement’s CoC asks Dalmia Bharat to match offer of UltraTech | Business Standard News–19.05.2018
The Committee of Creditors (CoC) of Binani Cement on Friday asked Dalmia Bharat Cement led consortium to match the Rs 79.60 billion offer from UltraTech Cement for acquisition of the stressed assets of Binani
With NCLT, NCLAT closing for vacations, insolvency resolutions face delays | Business Standard News–19.05.2018
With the National Company Law Tribunal (NCLT) and the National Company Appellate Law Tribunal (NCLAT) closing for vacations, the resolution process for firms undergoing bankruptcy proceedings are
Battle for Essar Steel: ArcelorMittal sets terms for Rs 70 bn repayment | Business Standard News–19.05.2018
Indian lenders will have access to Rs 70 billion deposited by ArcelorMittal in an escrow account, but only after the L N Mittal-owned company gets
Tata Steel becomes the first to buy a stressed asset under IBC – Business Line–19.05.2018
With the acquisition of Bhushan Steel Ltd (BSL) for ₹35,200 crore, Tata Steel has emerged the first company to acquire a stressed asset under the
GST: Deadline for filing April GSTR-3B return extended by two days – Business Line–19.05.2018
The last date for filing of return in Form GSTR-3B for the month of April has been extended by two days. Taxpayers can now file
NCLT annuls Jaypee Infra’s land mortgage with lenders of Jaypee Associates – Business Line–19.05.2018-R
In a landmark ruling, the National Company Law Tribunal (NCLT) has concluded that Jaypee Infratech’s move to create a mortgage of 759 acres of land
bad loans: Deadlines likely for turnaround of PSU Banks under RBI watch – The Economic Times–18.05.2018
The government is looking to impose strict deadlines on banks that are under the Reserve Bank of India’s watch to implement a turnaround plan. This
PNB: About time PNB takes some rest from banking activity; here’s why–Economic Times–18.05.2018
By Andy Mukherjee Other than the embarrassment of asking the country’s second-largest state-run lender to, well, stop lending, there’s no other reason why India should
PNB Fraud: Nirav Modi scam: US court wants PNB staff probed–Economic Times–18.05.2018
A New York court has called for an investigation into the role of Punjab National Bank employees in the alleged fraud involving Nirav Modi, before deciding
RCom: NCLT admits Ericsson’s bankruptcy plea against RCom, subsidiaries – The Economic Times–18.05.2018
NCLT admits Ericsson’s bankruptcy plea against Reliance Communications, subsidiaries The dedicated bankruptcy court has admitted three insolvency petitions filed against Reliance Communications and its subsidiaries, by telecom gear maker Ericsson,
Supreme Court asks Jaiprakash Associates Limited to deposit Rs 1,000 crore by June 15 – The Financial Express
The Supreme Court today directed realty firm Jaiprakash Associates Limited (JAL) to deposit Rs 1,000 crore, in addition to Rs 750 crore already deposited, by
IBC’s 29-A’s 1st victory – The Financial Express
While Arcelor Mittal depositing the dues can be considered the first victory of IBC Section 29A, what happens to Numetal remains to be seen. Whether
Malaysia scraps GST, experts advise caution to Indian govt | Business Standard News
Malaysia announced it would scrap the 6% GST rate, in line with the electoral promise by Prime Minister Mahathir Bin Mohamad that helped him win
RBI move can help cap rupee slide at 72 levels, says Nizam Idris | Business Standard News
A steady rise in crude oil prices and the possibility of rate hikes by the US Federal Reserve pushed the rupee to a 16-month low
Bite the bullet – Business Line
The time has come for the Centre and the RBI to take tough decisions on public sector banks With the financials of stressed public sector
Essar Steel: Numetal makes Rs 37,000 crore bid for Essar Steel in round 2
Essar Steel is being auctioned after the company defaulted on payment of about Rs 49,000 crore loan to lenders. VTB-led Numetal, a prominent bidder for Essar
bad loans: View: Think twice before busting ailing banks – The Economic Times
RBI’s punishments would in effect shut down a good portion of the Indian banking sector. By Mihir Sharma India seems intent on cleaning up a banking
IBC: Amitabh Kant says IBC has put an end to crony capitalism – The Economic Times
The world of crony capitalism in India has come to an end with the introduction of Insolvency and Bankruptcy Code (IBC), Niti Aayog chief executive Amitabh Kant said here at a
Income Tax Returns: Which ITR form applies to you for financial year 2017-18?
Various factors like the type of income, quantum of income, residential status of the tax payer etc. need to be considered to select the right
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