SC adjourns Amazon-Future-Reliance case till July 20 laosnews.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from laosnews.net Daily Mail and Mail on Sunday newspapers.
May 31, 2021
‘Lockdowns have been less stringent and more localised’
Fitch Ratings expects the impact of India’s second Covid-19 wave on the majority of its rated corporate universe to be manageable, with most companies’ credit profiles being supported by their strong market positions, adequate balance sheets and liquidity, diversified operations, and/or flexibility to adjust costs and key business drivers, until operations recover with the easing of restrictions
There are, however, several entities with low rating headroom or which could be subject to negative rating action if India’s sovereign rating (BBB-/Negative) or Country Ceiling (BBB-) were downgraded.
“We believe the second wave will have a less severe impact on corporates than in 2020, despite a higher infection rate. Weaker domestic demand is a key channel of risk transmission for businesses. However, lockdowns in 2021 have been less stringent and more localised, and business/societal behaviour has adjusted
The impact of the second Covid-19 wave on rated Indian firms is expected to be manageable, as most companies’ credit profiles are supported by their strong market positions, adequate balance sheets, liquidity and diversified operations, Fitch Ratings says. They have the flexibility to adjust costs and key business drivers, until operations recover with the easing of restrictions. There are, however, several entities with low rating headroom or which could face negative rating action if India’s sovereign rating (BBB-/Negative) or Country Ceiling (BBB-) were downgraded. “We believe the second wave will have a less severe impact on corporations than in 2020, despite a higher infection rate. Weaker domestic demand is a key channel of risk transmission for businesses. However, lockdowns in 2021 have been less stringent and more localised, and business/societal behaviour has adjusted, supporting activity, Fitch said in a statement.
The Supreme Court on Monday stayed further proceedings before Single Judge and Division Bench of Delhi High Court in the Amazon-Future-Reliance case. A Bench headed by Justice Rohinton F Nariman said the matter will be finally decided by the top court. The matter will be heard on May 4. We will stay further proceedings before Single Judge and Division Bench. Meanwhile, pleadings will be completed and the matter will come up with other matter on May 4, the apex court said. The top court was hearing an appeal of e-commerce giant Amazon challenging Delhi High Court s decision to stay an order upholding an emergency arbitrator award restraining Future Retail Limited (FRL) from going ahead with its Rs 24,731 crore assets sale deal with Reliance Retail.
SC stays further proceedings in Amazon-Future-Reliance case aninews.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aninews.in Daily Mail and Mail on Sunday newspapers.