NCLAT asks Jet lenders if they would cooperate with Dutch court administrator

NCLAT asks Jet lenders if they would cooperate with Dutch court administrator

Thursday, 22 August 2019 | PTI | New Delhi

The National Company Law Appellate Tribunal (NCLAT) on Wednesday asked lenders of Jet Airways whether they would cooperate with the Dutch court administrator who is also pursuing insolvency proceedings against the debt-ridden carrier. A three-member NCLAT bench headed by Chairman Justice S J Mukhopadhyay asked the Committee of Creditors (CoC)...

Bajaj Finserv announces Fixed Deposits for NRI; offers guaranteed returns

Bajaj Finserv announces Fixed Deposits for NRI; offers guaranteed returns

Wednesday, 21 August 2019 | Agencies

Bajaj Finance Ltd NRI FD comes with a high interest rate, safe investment, multiple deposits among other attractive features Offers  flexible tenor options between 12 and 36 months Bajaj Finance Limited, the lending and investment arm of Bajaj Finserv has announced its new offering of Fixed Deposit to NRIs enabling them to benefit...

Sensex tumbles 268 pts; Tata Motors tanks 9 pc

Sensex tumbles 268 pts; Tata Motors tanks 9 pc

Wednesday, 21 August 2019 | PTI | Mumbai

Benchmark equity index Sensex slumped 268 points on Wednesday, dragged by losses in ITC, HDFC, L&T and ICICI Bank as investors remained wary of an economic slowdown. After plunging 305 points, the 30-share Sensex settled 267.64 points, or 0.72 per cent, lower at 37,060.37. It hit an intra-day high of 37,406.55...

Tata Motors hits 52-week low after scrips fall over 10%

Tata Motors hits 52-week low after scrips fall over 10%

Wednesday, 21 August 2019 | IANS | Mumbai

Amid weakness in the auto sector, a sharp fall was seen in the Tata Motors stocks on Wednesday which slipped over 10 per cent, touching its 52-week low. At 2.51 p.m., Tata Motors was trading 9.25 per cent lower at Rs 112 a share on the NSE before hitting its 52-week...

Slowdown woes: Parle may lay off 10,000 employees

Slowdown woes: Parle may lay off 10,000 employees

Wednesday, 21 August 2019 | IANS | Mumbai

Popular Indian biscuit maker Parle Products may cut up to 10,000 jobs owing to the prevailing macro-economic situation, according to a company executive. Rural distress has taken a heavy toll on fast moving consumer goods (FMCG) sales for the past few quarters. Companies like Hindustan Unilever, Nestle have reported weak growth...

Voda-Idea loss triggers Rs 21.5K cr m-cap loss in Birla firms

Voda-Idea loss triggers Rs 21.5K cr m-cap loss in Birla firms

Wednesday, 21 August 2019 | IANS | Mumbai

The unabated losses at Vodafone-Idea are eroding the value of other Aditya Birla Group firms, whose combined m-cap declined by a whopping Rs 21,431 crore on August 20, days after the quarterly results of the telecom arm were announced on July 29. On August 19, the company posted lacklustre subscriber numbers...

ED lays bare IL&FS cabal modus operandi of Rs 7,400 cr loot and scoot

ED lays bare IL&FS cabal modus operandi of Rs 7,400 cr loot and scoot

Wednesday, 21 August 2019 | IANS | New Delhi

The Enforcement Directorate charge sheet against IL&FS and the cabal which ran it gives the full scope and extent of the malfeasance and all pervasive rot. Pertinently, it refers to the closed user group individually and by name and provides details on their conduct. The conclusion is that it was...

RBI blasts banks on poor compliance, blames it for frauds

RBI blasts banks on poor compliance, blames it for frauds

Wednesday, 21 August 2019 | PTI | Mumbai

Reserve Bank deputy governor MK Jain Tuesday slammed banks for poor compliance with regulations, and pointed out that high value frauds and fines are a result of their lackadaisical attitude on this. Jain said in some cases, the lack of compliance has been "recurring", wherein banks have also ignored RBI's instructions...

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