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Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 Cr NPA for Indian and Foreign Banks By IANS | 3 Views
Aircel & RCOM steering towards liquidation, resulting in Rs 60,000 Cr NPA for Indian and Foreign Banks. Image Source: IANS News New Delhi, April 18 : The National Company Law Appellate Tribunal (NCLAT) ruling of last week in the Aircel Vs. Department of Telecommunications (DOT) case has cast a shadow on the resolution plans of Aircel and Reliance Communication Ltd. (RCOM). According to experts, based on the NCLAT Judgement, the Resolution Plan of UV Asset Reconstruction Company Ltd. (UVARCL) for Aircel, which was approved in June 2020, will be unworkable and the company will be heading for liquidation, resulting in zero recovery for Rs 18,000 crore owed to the lenders. ....
Aircel, RCom lenders may challenge NCLAT order on spectrum as they may lose Rs 60K cr SECTIONS Aircel, RCom lenders may challenge NCLAT order on spectrum as they may lose Rs 60K crPTI Last Updated: Apr 18, 2021, 09:07 PM IST Share Synopsis According to the experts and sources working with a committee of creditors, who did not wish to be named, the order may block transfer of Aircel and RCom spectrum to UVARCL and leave Indian and foreign banks with non-performing assets of around Rs 60,000 crore as claimed by the lenders. Agencies Lenders of debt-ridden telecom firms Aircel and Reliance Communications are planning to challenge the ruling of company law tribunal NCLAT over spectrum sale as they fear it will lead to NPAs of around Rs 60,000 crore claimed by them. ....
Dues by ailing firms to Centre, states extinguish if not part of resolution plan under IBC: SC 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.
Namshi to add more brands from China 70% of Namshi revenues comes from Kingdom Updated 36 min 41 sec ago Shane McGinley April 06, 2021 14:49 DUBAI: JD.com, China’s largest online retailer, is set to enter the Middle East market after signing a partnership agreement with Namshi, the fashion and lifestyle platform owned by Dubai’s Emaar Malls. As part of the deal, Chinese brands including Baleno, Dodogogo, Latit and Mo&Co will be sold on the Namshi platform. The Dubai-headquartered website will provide JD.com with local logistics, warehousing, marketing and content creation support in the region. Namshi said it also plans to launch several fashion and lifestyle brands from China later this month. ....
India: Proposals against new attempts to privatise state-owned banks 11 March by Public sector banks account for more than two-thirds of the banking market in India. Currently, they are subjected to a systematic smear campaign launched by the reactionary Narendra Modi government, big media including the international press such as the Financial Times. [1] These canards are aimed at accelerating the privatisation drive underway since the 1990s. Critics of the public sector argue that the banks would be much more efficient and serve public interest better if they were fully privatised. The fact that there is a series of scams about the misuse of bank funds for the benefit of big Indian capitalists adds fuel to this campaign. What is the real story? ....