Clipped from: https://economictimes.indiatimes.com/industry/telecom/telecom-news/a-vi-collapse-may-prove-costly-for-150m-2g-users/articleshow/85310573.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis About 140-150 million 2G subscribers of Vodafone Idea (Vi) would be the most affected if the struggling telco succumbs to its financial woes,
Category: Company Specific News
Provident fund losses force Air India to pay its staff lower than EPFO rate – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/pf-losses-force-air-india-to-pay-its-staff-lower-than-epfo-rate/articleshow/85312477.cmsSynopsis EPFO has approved an interest rate of 8.5% for the current year and AI employees are getting less than that, sources said. The
SC rejects challenge to approval of resolution plan of Reliance Infratel by operational creditors – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/sc-rejects-challenge-to-approval-of-resolution-plan-of-reliance-infratel-by-operational-creditors/articleshow/85213372.cmsSynopsis A bench of Justices DY Chandrachud and M R Shah said that exclusion of some of the financial creditors from the Committee of
YES Bank eyes own asset reconstruction company, invites EoIs from investors | Business Standard News
Clipped from: https://www.business-standard.com/article/finance/yes-bank-eyes-own-asset-reconstruction-company-invites-eois-from-investors-121081100633_1.html In April, the RBI formed a 6-member panel headed by Sudarshan Sen, former ED, to carry out a comprehensive review of the working
Vodafone Idea files review petition in apex court on AGR dues | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/vodafone-idea-files-review-petition-in-apex-court-on-agr-dues-121081001965_1.html Vi had calculated its remaining AGR dues at around Rs 21,500 crore after making a payment of Rs 7,800 crore Vodafone Idea Debt-laden Vodafone Idea
Lenders in talks with Future Group to find alternatives – The Financial Express
Clipped from: https://www.financialexpress.com/industry/lenders-in-talks-with-future-group-to-find-alternatives/2308321/ Lenders had been hopeful of a takeover of the company by Reliance Retail before that date The moratorium extended to Future Retail under
Flipkart case: Indemnity clause may shield Walmart – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/retail/flipkart-case-indemnity-clause-may-shield-walmart/articleshow/85200598.cmsSynopsis Since the transactions under the scanner is for the period before Walmart took charge of the homegrown etailer, the indemnity clause is expected
Tata group is looking to enter semiconductor manufacturing: Chandrasekaran | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/tata-group-is-looking-to-enter-semiconductor-manufacturing-chandrasekaran-121081000066_1.html Tata group chairman’s remarks come at a time when automobile makers across the world are facing a severe shortage of semiconductors, hitting their
Supreme Court says antitrust probe of Amazon, Walmart’s Flipkart should continue – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/supreme-court-says-antitrust-probe-of-amazon-walmarts-flipkart-should-continue/articleshow/85174131.cmsSynopsis The Competition Commission of India (CCI) ordered the investigation against the companies last year for allegedly promoting select sellers on their e-commerce platforms
Banks stare at higher provisioning as Voda-Idea singes books – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/banks-stare-at-higher-provisioning-as-voda-idea-singes-books/article35803722.ece?homepage=true Banks may go for pre-emptive provisioning in the next couple of quarters to insulate their balance sheet from the possible impact of troubles
Traders’ body to all Chief Ministers: ‘Considerable avoidance’ of GST by e-commerce firms, need probe – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-traders-body-to-all-chief-ministers-considerable-avoidance-of-gst-by-e-commerce-firms-need-probe/2306839/ Ease of Doing Business for MSMEs: The association had levelled allegations against Amazon and Flipkart for undertaking unethical business practices such as deep
NCLT admits tea producer McLeod Russel for bankruptcy proceedings – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/nclt-admits-tea-producer-mcleod-russel-for-bankruptcy-proceedings/articleshow/85121116.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The bankruptcy proceedings were initiated by construction company Techno Electric and Engineering Company in 2019 over a default on interest payments towards a
Aditya Birla Sun Life AMC receives Sebi’s final approval for IPO | Business Standard News
Clipped from: https://www.business-standard.com/article/markets/aditya-birla-sun-life-amc-receives-sebi-s-final-approval-for-ipo-121080600367_1.html Sources say that the IPO size could be around Rs 2,000 crore The fund house had filed its draft red herring prospectus (DRHP)
RIL-Future deal: Lenders worried over big hair-cuts, IBC option open | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/ril-future-deal-lenders-worried-over-big-hair-cuts-ibc-option-open-121080601985_1.html Retail entity’s cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under
RIL-Future deal: Lenders worried over big hair-cuts, IBC option open | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/ril-future-deal-lenders-worried-over-big-hair-cuts-ibc-option-open-121080601985_1.html Retail entity’s cash flows have been hit, and if the merger deal does not go through, the working of restructuring would be under
Big win for Amazon as SC upholds award freezing Future-Reliance deal – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/big-win-for-amazon-as-sc-upholds-award-freezing-future-reliance-deal/article35774440.ece?homepage=true Halts Biyani’s plans to clear group’s mounting debt In a blow to Kishore Biyani’s plans to keep Future Retail afloat, the Supreme Court
VI: Saving Vi will be a tightrope walk for lenders. But they may not go out of their way to rescue it. – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/media-and-communications/saving-vi-will-be-a-tightrope-walk-for-lenders-but-they-may-not-go-out-of-their-way-to-rescue-it-/primearticleshow/85081166.cms SynopsisVi has a mammoth debt of INR1.8 trillion. And this has been haunting its parent companies. Its sustainability is also under question. To
Lenders to debt-laden Vodafone Idea look at swapping debt for equity | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/lenders-to-debt-laden-vodafone-idea-look-at-swapping-debt-for-equity-121080600052_1.html Over the years, Vodafone PLC has invested $30 billion in Vodafone India and has written off the entire investment Shares of Vodafone Idea
Govt buries retro taxes; brings bill in LS to withdraw tax demand on Cairn, Vodafone – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/govt-buries-retro-taxes-brings-bill-in-ls-to-withdraw-tax-demand-on-cairn-vodafone/article35748351.ece?homepage=true – The Government will refund the money collected earlier without any interest In a bid to bury the ghost of retrospective taxation, the
Competition Commission of India clears PNB Housing Finance deal with Carlyle – The Financial Express
Clipped from: https://www.financialexpress.com/industry/competition-commission-of-india-clears-pnb-housing-finance-deal-with-carlyle/2304305/ PNBHF, however, has said it would await SAT judgment on the matter. The appellate tribunal has already heard both the sides but is
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