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Tata Sons is working with advisers to explore bringing in financial or strategic investors, including global tech companies, for its new digital entity.
The dispute, involving three Chinese banks, revolves around an alleged breach of a personal guarantee on a company debt refinancing loan of $925 million dating back to February 2012.
The Supreme Court directed the Delhi High Court to decide on Ambani’s challenge to provisions of India’s insolvency law.
Value erosion of Anil Ambani's two finance companies due to debt default has made asset sale only viable alternative, say bankers. RBI disagreeable to resolution under IBC.
The Delhi HC Thursday restrained Anil Ambani from selling or transferring his assets, and allowed insolvency proceedings against his telecom companies to continue.
If NCLT admits Anil Ambani into the bankruptcy process, a list of all claims against him will be compiled and a repayment plan will be worked out, according to rules.
Fancy B-school degrees are becoming irrelevant in today’s fast-changing world. India’s MBA-IIM obsession is an artificial demand.
State Bank of India is seeking to recover more than $158 million under the personal guarantee clause of the bankruptcy law.
The order pertains to an alleged personal liability of Anil Ambani and will have no bearing on the operations of RIL, Reliance Power Ltd and Reliance Capital Ltd.
Ambani had until 4:00 p.m. Friday in London to make the payment into court or run the risk of automatically losing the lawsuit over $700 million in defaulted loans.