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1-10 results from 193 for query «insolvency»

19 January, 2018 4:28 AM GDP to grow at 7.1% in 2018-19: India Ratings

New Delhi: The Indian economy is expected to achieve 7.1 percent growth rate in the next fiscal, according to credit-rating body India Ratings. The agency claimed improvement in GDP growth from the current 6.5 percent to 7.1 percent will be steered by robust consumer demand and low commodity prices. The agency, in its outlook for 2018-19, said there 27

10 January, 2018 7:15 AM Supreme Court Orders Jaypee To Deposit Money, Warns Tihar Isn't Far

Jaypee Associates has been directed to deposit Rs 125 crore by January 25. New Delhi: The supreme court on Wednesday told Jaypee Associates to deposit Rs 125 crore as directed failing which it would be held in contempt of court and could land in Tihar Jail. The amount is part of Rs 2,000 crore that the top court had directed Jaypee Associates to deposit 34

9 January, 2018 4:00 PM Vedanta, Tata Steel, two others submit bids for Electrosteel

Electrosteel Steels, which owes Rs 10,273.6 crore to its lenders, was among the 12 companies which the RBI had referred for insolvency proceedings. Debt-laden Electrosteel today said four companies including Vedanta and Tata Steel have submitted bids to its Resolution Professional (RP), under the insolvency resolution process. Electrosteel Steels, which 42

6 January, 2018 3:37 PM MAT relief to firms facing insolvency

The Income Tax Department has relaxed norms for levy of Minimum Alternate Tax (MAT) on companies facing corporate insolvency proceedings. “With effect from assessment year 2018-19 (FY2017-18), in case of a company, against whom an application for corporate insolvency resolution process has been admitted by the adjudicating authority under...the IBC, the amount 28

3 January, 2018 5:45 PM FRDI Bill: clearing the air on the bail-in clause

The government on Tuesday issued another clarification on the Financial Resolution and Deposit Insurance Bill in a bid to clear the air about the many misgivings about the proposed Bill’s most notorious clause: the bail-in. It is meant to consolidate all the various regulatory laws covering India’s financial institutions. It also seeks to create a Resolution 33

29 December, 2017 3:58 PM Jio may pay $3.75 bn for RCom assets

Anil Ambani firm has ₹45,000 cr. debt Debt-laden Reliance Communications has signed a deal to sell its wireless assets to Reliance Jio Infocomm for almost ₹24,000 crore ($3.75 billion), two sources familiar with the matter told Reuters on Friday. The two companies had announced late on Thursday that Reliance Communications, backed by businessman Anil Ambani 35

24 December, 2017 4:56 PM ‘NCLTs got 4,300 IBC petitions in 18 months’

470 cases under insolvency: RBI data Since the National Company Law Tribunal (NCLT) was set up 18 months ago, more than 4,300 cases have been filed at its various benches for resolution process, according to the Reserve Bank of India (RBI) data. Insolvency and Bankruptcy Code (IBC) came into existence in May 2016, replacing the Company Law Board regime 35

18 December, 2017 12:13 PM Govt unlikely to table FRDI Bill in Budget Session too

New Delhi: The Financial Resolution and Deposit Insurance Bill may not be introduced in Parliament even during the Budget Session, as the joint committee looking into it on Monday got an extension for submitting its report. Lok Sabha Speaker Sumitra Mahajan informed the House that extension of time has been granted for the joint panel on the FRDI Bill "up to the last day of Budget 37

7 December, 2017 3:11 PM Budget talks in swing: India Inc meets Fin Min officials

The Federation of Indian Chambers of Commerce and Industry (FICCI) were in talks with the finance secretary on pre-Budget tax proposals. According to sources, FICCI has called for the protection of legitimate transactions post the implementation of general anti-avoidance rule. The industry body has also asked the tax department to grant relief in cases 25

27 November, 2017 2:06 PM Indian lenders may resist Chinese banks’ plan to move RCom debt under IBC

A consortium of Chinese banks have filed a suit against Reliance Communications in the National Company Law Tribunal (NCLT) seeking that the telecom firm's debt resolution should take place under the Insolvency and Bankruptcy Code, sources with direct knowledge of the matter have told CNBC-TV18. According to various bankers, Chinese lenders account for around 30