The National Company Law Appellate Tribunal ordered that no lender can declare its exposure to embattled IL&FS Group as non-performing without its permission.
Suzuki has half the car market, the Chinese have mobile phones, the Koreans consumer durables and Etihad may run Jet. Where would we be without foreign players?
Several pension trusts invested in IL&FS because it was considered ‘safe’. So far, the losses are unclear as 200 trusts haven’t filed their returns to EPFO.
The collapse of the highly rated infrastructure operator-financier IL&FS Group exposed the fault lines under Indian shadow banks’ impressive credit edifice.
For India, the strategic ripples are significant. The immediate concern is Pakistan’s diplomatic gain as it embeds itself deeper into the defence framework of the Middle East.
SEBI probe concluded that purported loans and fund transfers were paid back in full and did not amount to deceptive market practices or unreported related party transactions.
This is the first major attack on central security forces since last November, when a CRPF jawan was killed and four were injured in an ambush in Jiribam on Manipur-Assam border.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
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