Telecom payments case is another example of how govt branches are delaying bankruptcy settlements while banks suffer the world’s worst bad debt ratios.
The top court also asked the Department of Telecom to file the requisite documents in this regard and posted the matter for further hearing on 17 August.
The apex court also said it needs to ascertain the bonafides of the telecom companies who have gone under proceedings under Insolvency and Bankruptcy Code.
During the hearing, the bench observed that 15 or 20 years is not a reasonable time period and the companies should come forward with appropriate time frame.
The court’s direction came after the companies claimed they were not in a position to submit fresh bank guarantees with regards to the payment of AGR dues.
A round-up of the most important reports in major newspapers around the country – from TOI and HT, Express and The Hindu to The Telegraph, Mumbai Mirror and The Tribune, as well as top financial dailies.
Armani built a multibillion-dollar global brand from something as simple as an unstructured jacket, and broke down the walls between formal and casual.
From Munir’s point of view, a few bumps here and there is par for the course. He isn’t going to drive his dumper truck to its doom. He wants to use it as a weapon.
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