In his application, Wadhawan has sought to be allowed to propose a viable revival plan in the CIRP or a one-time settlement in the insolvency process, underscoring that he is interested in the maximization of the resolution value.
Author: BNW News
KVS Manian takes charge as the new Managing Director & CEO of Federal Bank
Federal Bank has appointed KVS Manian as the new Managing Director & CEO, effective 23rd September 2024. Manian joins Federal Bank after over two and a half decades at Kotak Mahindra Bank…
IndoStar Capital Finance announces sale of IndoStar Home Finance to EQT
The transaction is subject to customary conditions precedent, including receipt of RBI approval, consents from lenders and shareholders’ approval. Further, EQT plans to invest INR 500 crore into IHFPL upon or shortly after closing of this transaction, and the board of IHFPL has granted an in-principle approval for such infusion.
PNB downgrades MTNL’s loan accounts to NPA over non-payment of interest, instalment
As per a filing by MTNL to the stock exchanges that attaches a communication from PNB dated September 13, 2024 in this regard, across multiple accounts the outstanding amount adds up to about Rs 441 crore while the overdue amount is over Rs 46 crore.
Victory for Sebi staff: Regulator withdraws controversial press release
Earlier, On 5 September, around 400 employees of the Sebi had protested silently at the organisation’s headquarters in Mumbai. The employees were protesting the Sebi’s clarification that their earlier letter to the finance ministry on unprofessional work culture is ‘misguided by external elements’. Earlier, Sebi had said that the allegations of toxic work culture in Sebi is misguided by external elements.
India has capability to become trusted partner in diversified semiconductor supply chain: PM
Prime Minister Modi stated this while chairing the Semiconductor Executives’ Roundtable at his residence – 7, Lok Kalyan Marg. During the meeting, he said that their ideas will not only shape their business but also India’s future, a statement issued by the Prime Minister’s Office said.
RBI imposes monetary penalty on HDFC Bank, Axis Bank
In the case of HDFC Bank, the RBI imposed a penalty of Rs one crore after the RBI found that the bank gave gifts in the form of paying first-year premium for the complimentary life insurance cover costing more than Rs 250 to the depositors at the time of accepting certain deposits.
FPIs invest Rs 11,000 cr in equities in first week of September
Foreign Portfolio Investors (FPIs) have been consistently buying equities since June. Before that, they had pulled out funds to the tune of Rs 34,252 crore in April-May.
PAC to look into allegations against Madhabi Puri Buch, may summon her soon, report
The Public Accounts Committee (PAC) of Parliament is likely to look into the allegations against Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch, according to a report in the…
Markets decline in early trade on weak global peers, foreign fund outflows
Falling for the third day running, the 30-share BSE Sensex declined 233.98 points to 81,967.18 in early trade. The NSE Nifty dropped 60 points to 25,085.10.