SAT Impasse Continues on PNB Housing Finance-Carlyle Deal; Interim Order to Continue moneylife.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneylife.in Daily Mail and Mail on Sunday newspapers.
"We expect to manage these better from this month onwards even as we have managed to pull back some NPAs. We have pulled back about Rs 80 crore of NPA in July itself," said Hardayal Prasad, managing director and CEO, PNB Housing Finance
No error of judgement in PNB Housing Finance deal; future course as per SAT order: PNB MD indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
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Mukesh Ambani, chairman and MD, Reliance Industries; Ajay Tyagi, chairman, SEBI; S. S. Mallikarjuna Rao, MD and CEO, Punjab National Bank; VSS Mani, founder and managing director, Just Dial Services Private Limited.
Synopsis
Like Carlyle’s investment in PNB Housing Finance, the proposed deal by Reliance Retail Ventures involves a large preferential issue, the pricing of which is not accompanied by a detailed valuation report. Proxy advisories are of the view that dilution through such preferential issues without transparent valuation reports hurts minority shareholders.
The decision by the Securities Appellate Tribunal (SAT) in the legal tussle between the Securities and Exchange Board of India (Sebi) and PNB Housing Finance could have a bearing on the pricing of Just Dial shares in its INR3,500 crore deal with Reliance Retail Ventures Limited (RRVL). With the proxy advisory firms holding a magnifying glass on the fine print of the Articles of Association (AoA
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