The National Company Law Appellate Tribunal on Monday said the provisions of the Insolvency & Bankruptcy Code (IBC) cannot be turned into a debt recovery proceeding as the idea of this special code is to bring a debtor company back on its feet. Setting aside an order of the National Company Law Tribunal (NCLT) to [...]
Nazara Tech, whose two step-down subsidiaries have Rs 64 crore deposits in Silicon Valley Bank, on Monday said the US administration's statements on protecting depositors for the entire amount is a "positive outcome" and gives confidence about the recovery of money. The two subsidiaries have working capital to meet their requirements, including payroll, Nitish Mittersain, [...]
FinGrad Academy has recently launched a complete Options Trading Course for Beginners on its learning platform. This options trading course is created by Kunal Patel and is a recorded course with a duration of 300 minutes and in the Hindi language. Kunal Patel, the instructor of this course, is a full-time trader with 8+ years [...]
Markets regulator Sebi on Monday said it will auction 66 properties of Saradha Group on April 11 at a reserve price totalling Rs 32 crore to recover money raised by the firm from the public through illicit schemes. The properties to go under the hammer include land parcels located in West Bengal, the Securities and [...]
Vijay Kishanlal Kedia, an Indian ace investor and his company Kedia Securities Pvt. Ltd are among the largest shareholders in several listed companies. He publicly holds a stake in more than 15 listed companies and has a net worth of over ₹ 667.3 crores. Many investors follow the changes in the portfolios of ace investors [...]
The Reserve Bank is likely to hike benchmark lending rates by 25 basis points in its bi-monthly policy next month to bring down inflation within the central bank's comfort zone, DBS Group Research said on Monday. To contain the rising prices, the RBI has hiked interest rates by 250 basis points since May last year. [...]
Fitch Ratings on Monday affirmed the credit rating of Adani Electricity Mumbai, saying the Hindenburg Research report alleging governance issues at the Adani group has a limited near-term impact on the company's cost of funding. In a statement, the rating agency said, it has affirmed the 'BBB-' rating on Adani Electricity Mumbai Ltd (AEML) US [...]
The government on Monday sought Lok Sabha approval for net additional spending of over Rs 1.48 lakh crore in the current fiscal. The second batch of supplementary demands for grants for the 2022-23 fiscal was tabled in the Lok Sabha by Minister of State for Finance Pankaj Chaudhary. "Approval of the Parliament is sought to [...]
Trade unions of most state sector establishments in Sri Lanka went on a strike on Monday against the government’s tax reforms to secure approval for the much-required USD 2.9 billion bailout package from the IMF. The debt-struck country introduced painful economic measures such as tax hikes, and utility rate increases, part of the reforms prescribed [...]
Falling for the third straight session, equity benchmark Sensex tanked nearly 900 points to close below the 59,000 mark on Monday due to a massive sell-off in banking, finance and auto stocks amid one of the biggest US bank failures. Besides, unabated flight of foreign capital and a weak domestic currency amid global rate hike [...]
