Birla's Hindalco, which is part of the huge Aditya Birla Group, has put together a consortium of global banks to fund its takeover of aluminum producer Aleris Corp.
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.
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
The last time this matter flared up was when Delhi Chief Minister Rekha Gupta, in a very similar directive in April, called for the relocation of stray dogs in the capital.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Now that both IAF and PAF have made formal claims of having shot down the other’s aircraft in the 87-hour war in May, we can ask a larger question: do such numbers really matter?
COMMENTS