A related criticism is that bidders with no prior airport experience should not have been allowed. This is a fundamentally flawed argument. Since independence, India's infrastructure and utilities space was the monopoly of the state. Where would 'experience' have come from?
In a tweet, Kristalina Georgieva, Managing Director, IMF said, "Happy to hear that Ajay Banga, who I have known for many yrs, has been nominated as a candidate to lead World Bank. His exec leadership skills & drive for innovation are well known. But even more so I admire his commitment to sustainable devt, to do good & help those most in need".
Seven listed companies of the group led by billionaire Gautam Adani have lost over $140 billion in market value since a Jan. 24 report by Hindenburg Research alleged the group improperly used offshore tax havens and manipulated stock, and flagged concerns over its high debt levels.
The 7-member jury led by K V Kamath, former chairman of ICICI Bank, selected Sajjan Jindal as the EOY 2022 winner for transforming the conglomerate with a wide-ranging presence in the steel, cement, infrastructure, energy, and paints sectors, into a highly successful business with revenues amounting to $22 billion.
This leads to the entrepreneurs who have created unicorns to overestimate the market opportunity and investments in venture capital funds as well, he added.
The Hinduja Group also provided Rs 850 crore as deferred payment, including payments to release the pledged shares of Reliance General Insurance. Before being admitted for insolvency proceedings, Reliance Capital had raised Rs 600 crore in bonds by pledging shares of the general insurance company. After the company was admitted for insolvency, the debenture trustee was unwilling to release the share pledge until the bonds were redeemed.
As the energy landscape witnesses major changes, the oil behemoth is looking to give current Chairman Shrikant Vaidya the Managing Director role as well. If the appointment goes through, the fuel retailer will get its first MD since it was formally incorporated in 1964.
Last Friday, lenders proposed to hold a second round of auction with a minimum threshold price of Rs 9500 crore on a net present value basis which would include Rs 8000 crore as upfront cash payment.