The season of business restructuring, whether through mergers, spin-offs or initial public offering (IPO), is tightening its grip on corporate India. One of the focus areas this time are companies exploring business restructuring to unlock value, particularly for its banking and financial services (BFSI) vertical. Of late, Grasim, Reliance Capital and…
DetailsWritten by Sunny Verma | New Delhi | Updated: July 25, 2017 3:00 am Experts argue that state-owned banks will require much higher capital than estimated by the government, which is already reassessing its estimates. (Illustration: C R Sasikumar) Related News Even as the government has progressively stepped up its capital infusion in state-owned banks…
DetailsNEW DELHI: Debt-ridden auto component maker Amtek Auto today said insolvency proceedings initiated by a consortium of banks led by Corporation Bank has been accepted by the National Company Law Tribunal (NCLT). “The application filed by Corporation Bank under section 7 of the Insolvency and bankruptcy Code, 2016… before NCLT, Chandigarh has been admitted by…
DetailsThe major Las Vegas casino companies have been focused on Japans forthcoming gambling market for months, but the Asian country no longer has their complete attention. The pool in Rio where Michael Phelps won his record 23rd gold medal now sits in disrepair. Billions in debt, Brazil is looking to legalize gambling to help offset…
DetailsOlly Murs has promised to replace gig tickets from two axed shows this summer after the company that organised them went into liquidation. The pop singers gigs in Powderham Castle, Exeter on July 29 and Kings Park, Bournemouth on August 5 were both scrapped earlier this week. Stephen C Associates Limited, the company that has gone…
DetailsPublished 3 hours ago Kei Kamara set the MLS universe aflutter last week when he lambasted the league and the players union for a fine imposed on him for wearing Trusox, a popular sock product worn by many professional athletes around the world, in violation of MLS equipment deal with adidas. Speaking quite frankly in…
DetailsAHMEDABAD: Essar Steel, which failed to get a court stay on the bankruptcy proceedings against it moved by State Bank of India, told the National Company Law Tribunal (NCLT) that the insolvency petition was incomplete and not maintainable. The application should have been signed by the chairman of the bank and there was nothing to…
DetailsThe federal government has ignored warnings that a regulatory void is allowing so-called debt vultures to operate unchecked, consumer advocates say. It has been 18 months since the Australian Securities and Investments Commission (Asic) warned that debt management firms were engaging in misleading or, in some cases, predatory conduct. The firms offer to help often-vulnerable…
DetailsDebt-ridden auto component maker Amtek Auto today said insolvency proceedings initiated by a consortium of banks led by Corporation Bank has been accepted by the National Company Law Tribunal (NCLT). “The application filed by Corporation Bank under section 7 of the Insolvency and bankruptcy Code, 2016… before NCLT, Chandigarh has been admitted by the tribunal,”…
DetailsChemical waste from cooking drugs, carelessly discarded by Canberra’s own Walter White, led the authorities to Stanley Hou’s drug lab. The chemicals were picked up by water testers, who triggered a six-month search for the source of the contamination that uncovered a commercial grade clandestine drug lab capable of producing $10-20 million of MDMA. Busted: Stanley Hou,…
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