Russia is eyeing the shipyard to buttress its pitch for building six new conventional submarines under Project 75 India, while Jindals see it as a captive client of its own.
Justice Prateek Jalan passed the order on a plea by erstwhile directors of the 3 companies challenging a 2016 circular of RBI regarding declaration of accounts as fraud by banks.
Russian firm United Shipbuilding Corporation has been eyeing Navy's Project 75I under which 6 conventional submarines with air-independent propulsion systems are to be built.
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.
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.
While the commission didn’t mention provisions under which IndiGo's market domination would be examined, Competition Act 2002 prohibits abuse of dominant position by any enterprise.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
Tareek pe Tareekh has always been the order of the day. After 153 days, the RP will find some other reason for another extension. And yes, more the adjournment, more the RP gets paid. Anil Ambani is out of the company, so he will not be bothered. Banks are not affected because it is the Public Money that is going down the drain.
The Navy is not getting the OPVs and perhaps they are in no hurry to get the vessels. In any case the contracts have been cancelled. The first two vessels are rotting away slowly without being commissioned. The hulls might rust away in this Tareek pe Tareek policy.
The Coast Guard Training Ship will never get completed. In fact, it may be waste in any case since CG personnel are being trained on other vessels. But why is the GOI not cancelling the order yet?
The order for 14 FPVs was placed by the MoD on RNEL fully knowing that the yard was in deep financial distress. Yet, there is no accountability. Obviously, the decision to give the contract to RNEL must have been taken at the highest levels of the Govt and the Indian Coast Guard!!! Now the ICG can kiss the project good-bye.
Further, as rightly brought out by the author, the yard is plenty of legal problems. There are other hidden technical problems with the Graving Dock which might need plenty of time and money to resolve. With all these hassles, even is somebody is willing to acquire the yard, it will be at a cost which not be acceptable to the CoC.
In all probability, the Tareek pe Tareek will continue till it ends up in liquidation. The same route taken by ABG Shipyard and Bharati Defence.
the banks are not struggling. whoever takes over should be required to first payback any debts plus interest from smaller businesses that had ship contracts that were never paid. as well as other employees and business. Anil Ambani bought the shipyard with debts that he should have paid when he took over. he instead ignored them because he knew the court system would take so long that some of these creditors would give up. THE RESOLUTION PROFESSIONALS SHOULD FIRST PAY BACK THOSE WHO ARE OWED DEBTS FROM THE TIME IT WAS PIPIVAV.
Instead of going to hammer all the properties of ANIL AMBANI JI,all finincial institution should GIVE HIM ANOTHER CHANCE AND SUPPORT TO ANIL AMBANI JI SO THAT HE COULD STAND AGAIN,IT WILL BE GOOD FOR EVERYONE, BECAUSE I CAN ASSURE ONE THING TO EVERYONE THAT,HE BELONGS TO A VERY HARDWORKING AND LABOURIOUS FAMILY. HE MIGHT BE GOING THROUGH BAD PERIOD,BUT,,,,HE IS NOT AT ALL A BAD PERSON.HE CAN RECOVER,LETS PRAY TO THE ALMIGHTY AND SUPPORT HIM.
(SANJEEV BAKSHI SONGSMITH)
Modijee is doing everything in his capacity to protect ambani brothers . As you can see from few years they are extending time so anil ambani can get more time and better money . Our country has became banana republic because of current govt . SC , ED , EC ,CBI ,Police and media are misused on daily basis to silent dissent .
Modijee is doing everything in his capacity to protect ambani brothers . As you can see from few years they are extending time so anil ambani can get more time and better money . Our country has became banana republic because of current govt . SC , ED , EC ,CBI ,Police and media are misused on daily basis to silent dissent .
Whoever is successful budder for anil ambani’s naval shipyard in Gujarat the buyer should be asked to directly deposit the sale proceeds into the bank from which loan was taken for this project. This method should be followed in all takeover bids to protect public money and this will definitely bring down NPAs reoported by all banks especially nationalised banks
Tareek pe Tareekh has always been the order of the day. After 153 days, the RP will find some other reason for another extension. And yes, more the adjournment, more the RP gets paid. Anil Ambani is out of the company, so he will not be bothered. Banks are not affected because it is the Public Money that is going down the drain.
The Navy is not getting the OPVs and perhaps they are in no hurry to get the vessels. In any case the contracts have been cancelled. The first two vessels are rotting away slowly without being commissioned. The hulls might rust away in this Tareek pe Tareek policy.
The Coast Guard Training Ship will never get completed. In fact, it may be waste in any case since CG personnel are being trained on other vessels. But why is the GOI not cancelling the order yet?
The order for 14 FPVs was placed by the MoD on RNEL fully knowing that the yard was in deep financial distress. Yet, there is no accountability. Obviously, the decision to give the contract to RNEL must have been taken at the highest levels of the Govt and the Indian Coast Guard!!! Now the ICG can kiss the project good-bye.
Further, as rightly brought out by the author, the yard is plenty of legal problems. There are other hidden technical problems with the Graving Dock which might need plenty of time and money to resolve. With all these hassles, even is somebody is willing to acquire the yard, it will be at a cost which not be acceptable to the CoC.
In all probability, the Tareek pe Tareek will continue till it ends up in liquidation. The same route taken by ABG Shipyard and Bharati Defence.
the banks are not struggling. whoever takes over should be required to first payback any debts plus interest from smaller businesses that had ship contracts that were never paid. as well as other employees and business. Anil Ambani bought the shipyard with debts that he should have paid when he took over. he instead ignored them because he knew the court system would take so long that some of these creditors would give up. THE RESOLUTION PROFESSIONALS SHOULD FIRST PAY BACK THOSE WHO ARE OWED DEBTS FROM THE TIME IT WAS PIPIVAV.
Instead of going to hammer all the properties of ANIL AMBANI JI,all finincial institution should GIVE HIM ANOTHER CHANCE AND SUPPORT TO ANIL AMBANI JI SO THAT HE COULD STAND AGAIN,IT WILL BE GOOD FOR EVERYONE, BECAUSE I CAN ASSURE ONE THING TO EVERYONE THAT,HE BELONGS TO A VERY HARDWORKING AND LABOURIOUS FAMILY. HE MIGHT BE GOING THROUGH BAD PERIOD,BUT,,,,HE IS NOT AT ALL A BAD PERSON.HE CAN RECOVER,LETS PRAY TO THE ALMIGHTY AND SUPPORT HIM.
(SANJEEV BAKSHI SONGSMITH)
Modijee is doing everything in his capacity to protect ambani brothers . As you can see from few years they are extending time so anil ambani can get more time and better money . Our country has became banana republic because of current govt . SC , ED , EC ,CBI ,Police and media are misused on daily basis to silent dissent .
Modijee is doing everything in his capacity to protect ambani brothers . As you can see from few years they are extending time so anil ambani can get more time and better money . Our country has became banana republic because of current govt . SC , ED , EC ,CBI ,Police and media are misused on daily basis to silent dissent .
Whoever is successful budder for anil ambani’s naval shipyard in Gujarat the buyer should be asked to directly deposit the sale proceeds into the bank from which loan was taken for this project. This method should be followed in all takeover bids to protect public money and this will definitely bring down NPAs reoported by all banks especially nationalised banks