The Mumbai bench of the National Company Law Tribunal (NCLT) has also allowed the resolution professional's plea to exclude the period during which the application for extension was pending before the tribunal.
The Mumbai bench of the National Company Law Tribunal (NCLT) has also allowed the resolution professional's plea to exclude the period during which the application for extension was pending before the tribunal.
As per the National Company Law Tribunal (NCLT) order, lenders have to complete the resolution process of Reliance Capital by January 31, 2023.
UAE, Singapore to accept RuPay payments from now on. Know what Nirmala Sitharaman said on RuPay payments in countries abroad.
"We are working together with several countries," Sitharaman said in response to a question from an Indian student at the University of Maryland, who wanted to have the UPI in the United States as well.
​Exiting shareholders would include WestBridge Capital, Elevar Equity, Omidyar Network India and Saama Capital. The deal size is not disclosed.
India has the potential to show the highest growth in GDP, in the next 12 months, maybe anywhere. I might be missing some small country, but 6-8% GDP growth at India's scale will be unique and China's certainly not going to grow at that level, Bain Capital's Managing Partner Gross-Loh said.
Lenders that have sold loans to ARCs against SRs fear that the rating companies that will take on the Brickwork business may lower ratings on some SRs. This, in effect, would require lenders to make higher provisions. Sebi said Brickwork neither followed procedure nor did it exercise due diligence. Brickwork Ratings is considering legal recourse against Sebi’s directive.
Expressions of Interest (EoIs) from likely bidders will be invited on October 7, said the Department of Investment and Public Asset Management (DIPAM). The Centre has decided to divest 30.48 per cent stake, meanwhile, Life Insurance Corporation of India (LIC) will divest 30.24 per cent in the bank. Currently, LIC holds 49.24% stake while the GoI holds 45.48% in IDBI Bank.
"The company has received an intimation from Inditrade Microfinance Limited (IMFL), a debt listed company and a material subsidiary of the company, informing that the board of directors of IMFL at its meeting held today (October 7) has, inter alia, approved the scheme of amalgamation of Janakalyan Financial Services Private Limited with Inditrade Microfinance Limited with effect from 1st July, 2022," filing said.