IDBI Trusteeship Services Limited acting in its capacity as a debenture trustee on behalf of Credit Suisse, had invoked the pledge of Reliance Capital's 100 per cent shareholding in Reliance General in November 2019 and transferred the shares to its account.
The proposed scheme of amalgamation envisages merger of both the transferor companies with and into transferee company HDFC Capital Advisors and the dissolution of the transferor companies without being wound up.
The Reserve Bank of India (RBI) on Thursday said the first quarter of FY23 saw listed private non-financial companies log 41 per cent sales growth.
It solicits public views on what could be the best way forward to evolve a framework that is convenient, safe and affordable for users, reasonably covers the costs of running reliable systems, and incentivises private operators to do business at a time digital transactions in the country are at a record high.
It is in the interest of existing lenders to provide interim finance since they would benefit in getting an improved resolution amount being high of the waterfall priority, observed Ravi Mittal, chairman of IBBI, in a quarterly update released early this week.
Derivatives and repo markets could well play a role in aiding the corporate bond market to gain momentum as those are billed as popular hedging tools for sophisticated investors betting on bonds sold by companies. "Beyond this, market development and improvements will remain a continuous exercise," he said.
Banks would need to develop the skill set inhouse or bring in external experts. External subject matter experts can help them benchmark themselves with peer banks around risk management, controls and governance framework enhancements. This should help validate techniques of AI/ML models.
Mithani, who was serving as the interim Chief Financial Officer and Key Managerial Personnel of the company, has been relieved from the responsibilities with effect from August 23, 2022.
​“This move will particularly help both financial and non financial services Indian players to make overseas investment in Indian IFSC and develop new line of business†said Dipesh Shah, Executive Director at International Financial Services Centre Authority.