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#indiaIncControversies

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Rediff News
Petition by employees of debt-laden Jet Airways rejected

Petition by employees of debt-laden Jet Airways rejectedhttp://rediff.ly/owfhc

A committee of creditors had, in October, approved of the resolution plan submitted by UAE businessman Murari Lal... Read more »»

Rediff News
Petition by employees of debt-laden Jet Airways rejected

Petition by employees of debt-laden Jet Airways rejectedhttp://rediff.ly/owfhc

A committee of creditors had, in October, approved of the resolution plan submitted by UAE businessman Murari Lal Jalan and Kalrock Capital.

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#National_Company_Law_Tribunal

Petition by employees of debt-laden Jet Airways rejected
Posted : 1 week ago
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Rediff News
Piramal group gets RBI nod for DHFL acquisition

Piramal group gets RBI nod for DHFL acquisitionhttp://rediff.ly/ooo08

Piramal Group on Thursday said the Reserve Bank is understood to have cleared the resolution plan for debt-ridden... Read more »»

Rediff News
Piramal group gets RBI nod for DHFL acquisition

Piramal group gets RBI nod for DHFL acquisitionhttp://rediff.ly/ooo08

Piramal Group on Thursday said the Reserve Bank is understood to have cleared the resolution plan for debt-ridden DHFL as approved by the Committee of Creditors (CoC). The CoC had approved a resolution plan submitted by a Piramal Group company, Piramal Capital and Housing Finance Limited, last month. "We understand that the RBI has approved the DHFL resolution plan from Piramal Capital and Housing Finance, submitted by the CoC," Piramal Group said in a statement. The resolution plan was approved by the CoC in its 18th meeting concluded on January 15, 2021.

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#DHFL

Piramal group gets RBI nod for DHFL acquisition
Posted : 2 weeks ago
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Rediff News
Seizing India's foreign assets won't be easy for Cairn Energy

Seizing India's foreign assets won't be easy for Cairn Energyhttp://rediff.ly/onxts

Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion... Read more »»

Rediff News
Seizing India's foreign assets won't be easy for Cairn Energy

Seizing India's foreign assets won't be easy for Cairn Energyhttp://rediff.ly/onxts

Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion international tribunal award in the retrospective taxation case by seizing India's overseas assets.

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Seizing India's foreign assets won't be easy for Cairn Energy
Posted : 2 weeks ago
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Why stopping Future's asset sale to Reliance may not be easy

Why stopping Future's asset sale to Reliance may not be easyhttp://rediff.ly/oetpr

Legal experts explain the implications of the latest twist in the Amazon-Reliance battle for billion-plus consumers'... Read more »»

Rediff News
Why stopping Future's asset sale to Reliance may not be easy

Why stopping Future's asset sale to Reliance may not be easyhttp://rediff.ly/oetpr

Legal experts explain the implications of the latest twist in the Amazon-Reliance battle for billion-plus consumers' purse.

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Why stopping Future's asset sale to Reliance may not be easy
Posted : 1 month ago
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How Piramal managed to outbid Oaktree, Adani for DHFL

How Piramal managed to outbid Oaktree, Adani for DHFLhttp://rediff.ly/o8sd8

When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal... Read more »»

Rediff News
How Piramal managed to outbid Oaktree, Adani for DHFL

How Piramal managed to outbid Oaktree, Adani for DHFLhttp://rediff.ly/o8sd8

When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.

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#Oaktree

How Piramal managed to outbid Oaktree, Adani for DHFL
Posted : 1 month ago
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Rediff News
Mallya plea to release funds for legal fees cuts no ice with UK court

Mallya plea to release funds for legal fees cuts no ice with UK courthttp://rediff.ly/o1uam

A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the... Read more »»

Rediff News
Mallya plea to release funds for legal fees cuts no ice with UK court

Mallya plea to release funds for legal fees cuts no ice with UK courthttp://rediff.ly/o1uam

A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).

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Mallya plea to release funds for legal fees cuts no ice with UK court
Posted : 1 month ago
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Amazon did not help when debt mounted amid lockdown: Future promoters

Amazon did not help when debt mounted amid lockdown: Future promotershttp://rediff.ly/ny3b0

Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major... Read more »»

Rediff News
Amazon did not help when debt mounted amid lockdown: Future promoters

Amazon did not help when debt mounted amid lockdown: Future promotershttp://rediff.ly/ny3b0

Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.

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#FRL_Securities

Amazon did not help when debt mounted amid lockdown: Future promoters
Posted : 2 months ago
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Reliance Capital objects to PFL stake sale by Credit Suisse

Reliance Capital objects to PFL stake sale by Credit Suissehttp://rediff.ly/nv933

Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd... Read more »»

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Reliance Capital objects to PFL stake sale by Credit Suisse

Reliance Capital objects to PFL stake sale by Credit Suissehttp://rediff.ly/nv933

Debt-ridden firm Reliance Capital on Monday objected to the proposed 33.12 per cent stake sale of Prime Focus Ltd (PFL) by Credit Suisse to PFL's promoter group at Rs 44.15 per share. Anil Ambani's Reliance Group company Reliance Capital in a statement termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group. However, Reliance Capital did not share the details of the "blatant abuse of the purported rights".

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#Credit_Suisse

Reliance Capital objects to PFL stake sale by Credit Suisse
Posted : 2 months ago
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SC stays criminal proceedings against former Wipro chairman Azim Premji

SC stays criminal proceedings against former Wipro chairman Azim Premjihttp://rediff.ly/nqy18

The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife... Read more »»

Rediff News
SC stays criminal proceedings against former Wipro chairman Azim Premji

SC stays criminal proceedings against former Wipro chairman Azim Premjihttp://rediff.ly/nqy18

The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.

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#Mr_Azim_Premji

SC stays criminal proceedings against former Wipro chairman Azim Premji
Posted : 2 months ago
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Mallya applies for funds held by UK court

Mallya applies for funds held by UK courthttp://rediff.ly/nnclg

Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions... Read more »»

Rediff News
Mallya applies for funds held by UK court

Mallya applies for funds held by UK courthttp://rediff.ly/nnclg

Liquor tycoon Vijay Mallya on Friday made an urgent application before the UK High Court seeking access to millions of pounds to cover his living expenses and legal fees from funds held with the Court Funds Office as part of bankruptcy proceedings, initiated by a consortium of Indian banks led by the State Bank of India. Deputy Insolvency and Companies Court Judge Robert Schaffer declined to allow a draw down from the court-held funds of an estimated amount of around 1.5 million pounds, accrued from the sale of Mallya's French luxury property Le Grand Jardin earlier this year, until further arguments in the case. However, he did allow the release of 240,000 pounds plus VAT to cover the legal costs of a substantive hearing in the bankruptcy proceedings scheduled for next Friday.

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Mallya applies for funds held by UK court
Posted : 2 months ago
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