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Why it’s time for India to rethink its inflation target regime

Is inflation targeting right for India, and does it focus on the right target?
The Economic Times

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NATIONAL COMPANY LAW TRIBUNAL

NCLAT order may pave the way for delisting Alok Inds

NCLAT, in view of this, directed Reliance in its Wednesday order to comply with Sebi regulations.

Jaypee Infra insolvency: Lenders to meet on Nov 28 for further discussions on NBCC, Suraksha bids

NBCC and Suraksha might be asked to submit ...

NCLAT denies RIL waiver to delist Alok Industries

Reliance Industries didn’t respond till press time Wednesday seeking comment.

ET Prime Distribution
  • Amid the crisis at DHFL, RBI on Wednesday superseded the board of the company.

    The deposit holders with overall exposure of Rs 6,000 crore are at risk of losing their savings.

    Homebuyers were upset with the way IRP Soni and AR Agarwal had been trying to revive the two projects.

    NCLT had admitted the insolvency plea filed by two lead financial creditors Standard Chartered Bank and DBS Bank. However, later the Singapore-based DBS Bank became dissenting creditor and approached NCLAT challenging the distribution of proceeds from the bid submitted by Baba Ramdev-led Patanjali Ayurveda.

    Amid a major slowdown in the real estate sector, the central government had on November 6 approved a Rs 25,000-crore stress fund to help complete over 1,600 stalled housing projects, including ones that have been declared NPAs or admitted for insolvency proceedings across the country.

    A three-member bench headed by Chairperson Justice S J Mukhopadhaya also said the Enforcement Directorate will probe and ascertain whether the money paid by the promoters is not from proceeds of crime. The promoters of the company include absconding Nitin Jayantilal Sandesara and Chetankumar Jayantilal Sandesara.

    Last week, Rcom Chairman Anil Ambani along with four directors had resigned from the company. The company posted a consolidated loss of Rs 30,142 crore for September 2019 quarter due to provisioning for liabilities after the Supreme Court ruling on statutory dues. This had marked the second highest loss posted by any Indian corporate till date.

    On Monday, the Mumbai bench of the NCLT directed the resolution professional to communicate with the South American firm Synergy Group to appear before the bench. The tribunal has also made the ministry of civil aviation and DGCA party to the case and sought their response regarding the availability of the slots to fly between destinations.

    Air Costa is the second Indian airline, after Jet Airways, to undergo court-monitored debt resolution process under the Insolvency and Bankruptcy Code. Aviation regulator Director General of Civil Aviation had in June 2017 suspended the flying licence of the airline, making it officially wind up operations.

    The process to find a buyer for Videocon started in August. All parties have submitted formal expressions of interest (EoI) and will soon start due diligence.

    "With the Essar Steel judgment out, it has now become easier for distress asset transactions to happen. Now, it needs to be seen how banks open up to sell their sticky assets," says Jayesh Mehta, country treasurer, Bank of America.

    The NCLAT observed that Pepsico India Holding cannot derive advantage of its own agreement with Oceanic Tropical Fruits over the Insolvency & Bankruptcy Code (IBC), which has provision of termination in case of bankruptcy or liquidation or similar situation to get the assets back.

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