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The recent amendments in the bankruptcy resolution framework will help reduce timelines, enhance transparency and improverealisations, a report said today.
"The amendments will help safeguard the interest of lenders by maintaining the residual value of assets and also spur the pace of resolutions under the Insolvency and Bankruptcy Code (IBC)," domestic rating agencyCrisil'ssenior directorKrishnanSitaramansaid in the report.
The fine-tuning of the contentious Section 29(A) of the IBC will open opportunities for resolution applicants to bid once their eligibility is proven, and exempts financial entities from being disqualified from bidding, he said. (PTI)
The National Investment and Infrastructure Fund (NIIF) today said the country needs an investment of up to USD 1 trillion in the infrastructure sector in the next two to three years.
"In the next two to three years, we need total investment of USD 800 billion to USD 1 trillion in infrastructure," its chief executive Sujay Bose said at a finance ministry-organised seminar here.
He said resources are required both in tangible infrastructure assets as well as de-leveraging by companies saddled with high debt. (PTI)
Rebel AAP MLA Kapil Mishra has filed a plea in the Delhi Court seeking that Chief Minister Arvind Kejriwal be directed to increase his attendance in the Assembly as he has allegedly skipped most of the sittings.
The PIL by Mishra was mentioned before a vacation bench of Justices Sangita Dhingra Sehgal and C Hari Shankar which allowed it to be listed for hearing. However, the plea did not come up for hearing today and is likely to be listed day after tomorrow on June 13.
In his petition filed through advocates Ashwini Kumar Upadhyay and Ashwani Kumar Dubey, the rebel Aam Aadmi Party (AAP) MLA has contended that in the 27 Assembly sittings held last year, Kejriwal was present only in seven.
In a rhetorical speech in the Delhi assembly, Chief Minister Arvind Kejriwal today announced that the AAP would campaign for the BJP during the 2019 Lok Sabha election if Delhi was granted full statehood.
He also warned that if the Modi government failed to do so, the party would conduct a "BJP, quit Delhi" campaign.
"I want to say to BJP, give full statehood status to Delhi before Lok Sabha polls, every vote of people will go in favour of BJP and we (AAP) will campaign for them in Lok Sabha election," Kejriwal said in the assembly.
"But, if they (BJP) do not give full statehood to Delhi, people here will say that BJP walon, Delhi chodo (BJP, quit Delhi)," he added. (PTI)
The United States on Monday offered "unique" security guarantees to North Korea in return for a "complete, verifiable and irreversible" denuclearisation as the two sides made "progress" in negotiations on the eve of a historic summit between President Donald Trump and Chairman Kim Jong-un here that could reshape the geopolitics of the Asia-Pacific region.
Ahead of the much-anticipated summit at the Capella Hotel on Sentosa Island, Trump hoped that a "nice" outcome could be reached from what he said would be a "very interesting meeting" with Kim which will focus on the nuclear arsenal the North has spent decades developing.
The summit - the first between a sitting US president and the North Korean leader - will mark a turnaround of relations between Trump and Kim after a long-running exchange of furious threats and insults.
Senior Congress leader P Chidambaram today questioned the veracity of the letter seized by police on Rajiv Gandhi-like plot to kill Prime Minister Narendra Modi, saying it is "unverified", and noted that it was government's duty to provide foolproof protection and security to the prime minister.
He claimed one of the ministers in the government has said that he knows some of the ‘Elgar Parishad' people who have been arrested and linked to the alleged plot and they have nothing to do with the Congress, according to a PTI report.
"I do not think you should take all these unverified letters as though they are official documents. Such letters will float about," Chidambaram told reporters when asked about the letter found by Pune police which reveals a plot to kill Modi.
Reserve Bank of India (RBI) Governor Urjit Patel is likely to face tough questions from a parliamentary panel tomorrow on a range of issues including the amount of cash returned post demonetisation, the PNB fraud and the mounting bad loans of banks.
Patel is scheduled to appear before the Parliament's Standing Committee on Finance headed by Congress leader Veerappa Moily. It has members from various political parties, including former Prime Minister Manmohan Singh.
"It's been long time and the RBI has still to come out with amount of the cash returned into system post demonetisation. And the Governor must share these details with the panel and I hope he will do it tomorrow" said TMC MP and member of the panel Dinesh Trivedi.
Singapore Prime Minister Lee Hsien Loong on Monday surprised Donald Trump with a big birthday cake, ahead of the US President's historic summit with North Korean leader Kim Jong-un here tomorrow, according to a PTI report.
Trump celebrated his 72nd birthday during his lunch with Loong at the presidential palace Istana after their bilateral meeting during which the two leaders discussed everything from the summit preparations to the US' tariff threats.
A picture of Trump smiling at the cake, decorated with fresh fruit, was shared on Twitter by Singapore's Foreign Minister Vivian Balakrishnan with the message saying "Celebrating birthday, a bit early".
Trump was accompanied by Secretary of State Mike Pompeo, National Security Adviser John Bolton, White House Press Secretary Sarah Sanders and White House Chief of Staff John Kelly during the meeting. The meeting was Trump's only scheduled public event today.
BSP chief Mayawati said today the opening up of senior bureaucratic posts in various departments to people other than those who cleared the UPSC exam was a result of Modi government's "administrative failure" and may increase the influence of capitalists in policy making.
"Opening senior-level bureaucratic posts in 10 departments to private people, who have not cleared UPSC, appears to be the result of administrative failure of Prime Minister Narendra Modi," Mayawati said in a party release, according to a report by PTI.
This is a dangerous trend and chances are it will increase the influence of capitalists and the rich in the policy making of the central government, she added.
Delhi’s Vidhan Sabha has accepts resolution seeking full statehood to Delhi, News18 has reported.
The Centre does not want to regulate the sugar sector and has fixed the minimum selling price for the sweetener, as also stock limits on mills, only in the interest of farmers, consumers as well as small units, a senior food ministry official said on Monday.
The official also ruled out any increase in the minimum selling price of sugar and wondered as to why consumers will pay more in a glut market, according to a PTI report.
To bailout the cash-starved sugar industry, the government had last week decided to create a buffer stock of three million tonnes and fixed minimum selling price of sugar besides imposing monthly stock limit on mills.
Sugar industry bodies like ISMA and NFCSF have demanded higher minimum selling price of sugar saying that Rs 29/kg is inadequate to cover the production cost which is at around Rs 34-36/kg.
The country has become slave to a handful of BJP-RSS leaders but the entire opposition will unite in six months to a year to make them realise that India will be run by its people and not just three persons, Congress president Rahul Gandhi said on Monday.
Prime Minister Narendra Modi, BJP president Amit Shah and RSS chief Mohan Bhagwat will soon see the strength of India, Gandhi said while addressing an OBC convention, aimed at wooing the community that comprises over half the country's population.
"Today, our nation has become slave to two-three leaders of the BJP and the RSS. The entire opposition is getting together in six months to a year and Narendra Modi, Amit Shah and Mohan Bhagwat will see the strength of India," he said at the event organised by the party's OBC cell at the Talkatora Stadium in Delhi. (PTI)
