The order will probably set a precedent for other companies in insolvency proceedings and may jeopardise the 270-day timeline laid down to resolve such cases.
Tata Steel Ltd takes over insolvent Bhushan Steel Limited at a price of 352 billion rupees. This amount is equivalent to 63 percent of the 560 billion rupees claimed by Bhushan Steel's creditors.
Proposed resolution plans must either bring value to the enterprise or a meaningful recovery for creditors, says Rajnish Kumar, chairman of State Bank of India, the country's largest lender.
India’s bankruptcy code is new, and it’s a well-worn tradition of common law for new legislation to be made roadworthy by litigation, both real & frivolous
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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