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Nevin John
August 21, 2018
The aggregate value of promoter holdings in 15 top Tata group companies has crossed $100 billion (Rs 7.03 lakh crore), thanks to the recent surge in TCS and Titan stocks.


BusinessToday.In
August 21, 2018
The Modi government, already backed into the corner over unemployment, absconding defaulters, rupee depreciation, fuel prices and more, would not want more bad news on the NPA front at this juncture.


Sonal Khetarpal
August 14, 2018
Promoters of MNCs have also increased the stake in their Indian subsidiaries, probably indicating their belief in the 'India story'.


BusinessToday.In
New Delhi, August 14, 2018
Kotak Mahindra Bank says it still believes that the bank's stake dilution plan meets the RBI requirement, and assured to continue engaging with the central bank over the issue.


BusinessToday.In
August 11, 2018
The Delhi High Court has also asked the former promoters of Fortis Healthcare Limited, popularly known as the Singh brothers, to disclose all their transactions, including gifts, since 2016.


PTI
August 10, 2018
The appellate tribunal also rejected the claims of engineering and construction major L&T, an operational creditor of Bhushan Steel Ltd, opposing Tata Steel's resolution plan seeking a higher priority in debt resettlement.


BusinessToday.in
New Delhi, August 10, 2018
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.


BusinessToday.in
New Delhi, August 10, 2018
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 seems to have been taken in wake of private airlines facing loss due to high fuel cost and falling rupee value.Audit panel rejects Jet accounts; board defers Q1 resultsJet Airways deferred announcing their June quarter numbers to an unspecified date. The development came after the company's AGM on Thursday. In a BSE filing late in the evening, the airline, which had its AGM earlier in the day, said the board of directors decided not to review the unaudited financial performance for the June quarter. Amid rising concerns over the airline's financial health and proposed salary cuts, a new committee will be set up to improve public perception and negative publicity about it. GoAir to start international operations in October; to connect Kerala's Kannur to Saudi Arabia's DammamTravelling abroad is going to become a little easier as the fifth Indian carrier is set to take Indian passengers abroad. Starting from October, GoAir is commencing its international operations. The airline has been given permission to start international operations from the new Kannur international airport to Dammam in Saudi Arabia, Civil aviation secretary RN Choubey told reporters. GoAir operates only domestic flights despite meeting the eligibility criteria for flying on international routes as it has a fleet of over 20 aircraft. Samsung Galaxy Note 9 launched at Unpacked event in New YorkThe Samsung Unpacked event in New York saw the launch of several new devices. Samsung launched the Galaxy Note 9, coupled with an improved S Pen, Samsung Galaxy Watch, Samsung Galaxy Home. Out of the amazing line-up Samsung had prepared for the evening, the Galaxy Note 9 remained the showstopper for the event. The new Samsung Galaxy Note 9 comes with diamond cut finish for cleaner design. It will come with 128GB or 512GB of internal storage, which can be further expanded to 1TB among other features.Supreme Court sends Jaypee Infratech back to NCLT, bars promoters from biddingA year after IDBI Bank dragged Jaypee Infratech Limited (JIL) to bankruptcy court for defaulting on Rs 526 crore loan - and after a protracted battle that made the rounds of the NCLAT and the Supreme Court - the ball is back in the National Company Law Tribunal's court. The top court today asked the Allahabad bench of the NCLT to deal with the insolvency proceedings against Jaypee Infratech, allowing a second round of bidding. Significantly, in a major setback to the Jaypee group, the Court barred parent firm Jaiprakash Associates Ltd (JAL) as well as the group's promoters from participating in it. The fresh Committee of Creditors (CoC) that will now have to be set up will include homebuyers. Carry driving license, RC on your phone! Govt validates digital copiesStates have been asked to accept driving licence, registration certificate or other documents in 'electronic form' presented through DigiLocker or mParivahan platforms, the government said today. It also said that impounding of documents will be reflected electronically through 'eChallan' system. This is in response to a number of grievances and RTI applications received in the ministry SFIO arrests Bhushan Steel's former MD Neeraj Singhal for siphoning off Rs 2,000 croreIn its first arrest, the Serious Fraud Investigation Office (SFIO) on Thursday took under its custody the former promoter and managing director of Bhushan Steel Limited, Neeraj Singhal, for siphoning off over Rs 2,000 crore through several loans availed by BSL from the public sector banks using its 80 associate companies. Neeraj Singhal was produced before the court, which sent him to judicial custody till August 14.


BusinessToday.In
New Delhi, August 9, 2018
Singhal has been sent to judicial custody till August 14. The SFIO has found that former promoters of BSL used multitude of complex, fraudulent manoeuvres to siphon off funds amounting to thousands of crores raised by then management of BSL.


BusinessToday.In
August 9, 2018
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.


Anand Adhikari
New Delhi, August 9, 2018
In India, a debate started last week when Deepak Parekh, who built the HDFC Group, barely managed to get a majority vote in a resolution seeking his continuation as director in the HDFC Ltd.


BusinessToday.In
New Delhi, August 8, 2018
Bansal's decision to sell his entire stake to Walmart was reportedly the result of differences with the investors.


BusinessToday.In
August 8, 2018
A committee headed by financial services secretary Rajiv Kumar has recommended stopping wilful defaulters with loans exceeding Rs 50 crore from travelling overseas without prior approval.


Anand Adhikari
New Delhi, August 6, 2018
The government has given signal to banks to try out yet another resolution approach, including AMC-AIF, for dealing with growing stressed assets. Will it work?


Anand Adhikari
New Delhi, August 6, 2018
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.


Dipak Mondal
New Delhi, August 6, 2018
The Insolvency and Bankruptcy Code can lead to huge job losses in the short to medium term as many companies, including some big names, face liquidation.


PTI
New Delhi, August 5, 2018
Large corporates have started making arrangements to comply with regulator Sebi's directive to split the roles of chairman and managing director by April 1, 2020, but several smaller companies are still giving their CMDs tenures beyond the deadline.


Sahil Joshi and Vidya
New Delhi, August 3, 2018
Antigua says it had sought updates on the probes against Choksi and received confirmation from Sebi that in one case, the matter had been closed, and indicating in the other that there is not sufficient evidence.


BusinessToday.In
August 2, 2018
The Delhi High Court yesterday directed the erstwhile promoters of Fortis Healthcare (FHL), the Singh brothers, to appear in person for the next hearing of case filed by Daiichi Sankyo.


BusinessToday.In
August 2, 2018
L&T also has an option to sell an additional 25 lakh shares in its subsidiary if the proposed offer for sale is oversubscribed. 


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