Apart from the stay, the stressed power plants were also given another breather recently, when the high-level empowered committee constituted by the Prime Minister's Office allowed retaining fuel supply agreements (FSAs), Power Purchase Agreements (PPA) and long-term transmission network access rights.

If NCLT allows the plea of the ICICI Bank, then this will be the second company of the crisis hit Jaypee group facing insolvency.

For the \"face of the industry\" to change, J.C. Sharma, the Vice Chairman and Managing Director of Sobha Limited, has a list of asks from regulators and the government.

Government is working on turnaround plan for Air India; audit panel rejects Jet accounts; board defers Q1 results; Samsung Galaxy Note 9 launched at Unpacked event in New York; Supreme Court sends Jaypee Infratech back to NCLT, bars promoters from bidding. Watch more in this episode of Business Wrap.

Govt working on turnaround plan for Air India, may allow airlines to raise external commercial borrowingAs the Civil Aviation Ministry plans Rs 11,000-crore bailout package for ailing Air India, Aviation Secretary RN Choubey on Thursday confirmed that the centre is working on a turnaround plan to make the debt-ridden airline competitive. Also, the centre is working on ways to let all airlines raise external commercial borrowing to meet the rising operational costs. The decision se...

The Supreme Court today asked the Allahabad bench of the NCLT to deal with the insolvency proceedings against Jaypee Infratech, allowing a second round of bidding.

Green shoots emerge for residential real estate, but it isn't out of the woods.

It has not given bankers the realisations they had hoped for. Now the government has unveiled a new approach even while they are modifying the act.

Infosys to build software development centre in NoidaInfosys Ltd has said it would build a software development centre in Noida in Uttar Pradesh, with an initial investment of about 7.5 billion rupees ($109 million). India's second-biggest software services exporter said the 2.7 million square feet facility would be able to accommodate 5,000 staff. \"The facility is a critical part of our effort to enhance our presence in the national capital region and leverage the talent pool ...

Earlier this month, Amrapali Group told the Supreme Court that it has given a proposal to the central government for construction of its unsold and future projects by NBCC.

In the April-June quarter of the current fiscal, the ace investor bought 2 lakh shares additional of the company taking his total shareholding to 5 lakh.

Counsel appearing for the consortium of banks and FIs tells the apex court that Jaiprakash Associates Limited and Jaypee Infratech Ltd are separate legal entities, and if JAL is forced to pay for JIL then it will have adverse impact on JAL.

Changes in visa rules to have serious adverse consequences on US economy: Nasscom  Indian IT body Nasscom has said the recent work visa-related changes announced by the US will have \"potentially serious adverse consequences\" on the American economy as it will make it more difficult for companies to employ skilled foreign nationals to fill critical skills gaps in the US. One of the changes, which come into effect on September 11, allows US Citizenship and Immigration Service...

Senior advocate Fali S Nariman, counsel for JAL, informed that the Noida-based real estate company has already deposited Rs 750 crore with the Supreme Court's registry and it would pay another Rs 600 crore in seven instalments for paying the principal amount to the homebuyers.

The BJP-led NDA Government has pulled a rabbit out of their hat by announcing a slew of initiatives aimed at avoiding the bankruptcy proceedings for banks as well as defaulting promoters.

Under the Insolvency and Bankruptcy Code, the sale process has almost been completed in three cases -- Bhushan Steel, Electrosteel Steels and Monnet Ispat and Energy. There is less clarity in the other cases when the 270 day timeframe for resolution ends around now.

JAL has pleaded in the apex court that it wants to revive the debt-ridden subsidiary Jaypee Infra, which will also be in the interest of homebuyers.

The bankruptcy proceedings would force Indian banks to book heavy losses. They are now focussed on mini- mising the damage

The data available with the BSE shows that 75 firms, including Bhushan Steel, Jaypee Infratech, Electrosteel Steels, Monnet Ispat & Energy, are undergoing insolvency process as per the Insolvency and Bankruptcy Code (IBC).