While the nascent domestic bankruptcy law is silent on consolidating different the books of insolvent companies, citing larger interest of lenders and other stakeholders, the Mumbai bench drew examples from British and American bankruptcy laws.
The NCLAT said that taking into consideration the nature of the matter, the National Company Law Tribunal Mumbai should pass an order within three weeks over the insolvency plea filed by banks.
Videocon Industries and its promoter Venugopal Dhoot and P N Dhoot are guarantors to Unity Appliances, as per the public notice put out by BoM.
The agency is going through hundreds of pages of documents seized by it during searches, besides loan records, communication exchanges, meeting discussions, etc. related to the details before it will prepare a questionnaire for the accused.
The lenders plan to recover at least 50-55 percent, or Rs 230-300 crore, of the total loan value of Rs 450 crore that had been lent to VOVL
Suitors may be expected to put together a single resolution plan for all 15 entities subject to relevant approvals from the courts
With much at stake for ICICI Group as an institution, the board may have to make more amends to restore faith of investors and depositors in the bank and towards its CEO.
NSE asked ICICI Bank if the matter had been placed before the audit committee and the whistle blower committee.
Chanda Kochhar is known to be quite an “assertive” boss but some of those who know her say she is a professional person and one who knows when to say “no”.
The preliminary enquiry was registered a month ago and it is the first step to verify allegations of corruption
"The CCI has intimated the company that it in its meeting held on May 4, 2017, considered the proposed combination and has accorded its approval to the said combination," the company said in a statement.
ONGC's USD 2.475 billion purchase of Videocon Group's 10 per cent stake in a giant Mozambique gas field has come under the Oil Ministry's scanner following allegations that the PSU may have overpaid about USD 200 million, charges that the company vehemently denied.
For the past week the 9,000 crore rupee loss that Vijay Mallya has caused the banking system has dominated headlines and mind space.
As part of its efforts, the company roped in Bollywood actress and model Gauahar Khan as its brand ambassador.
Under the head 'Divestitures', the company said it made net gains of USD 1.891 billion from sale of stakes in 2014.
Sources said OVL will raise another USD 2.6 billion for the Anadarko payments.
According to Gagan Dixit, there is a huge potential that 10 million tonne LNG can go up to 30-40 million tonne and an upside is possible for the ONGC, but only in the long-term.
Oil India plans to raise 80-90 percent of $1 billion through overseas debt
Videocon Group's Rajkumar Dhoot says, in an interview to CNBC-TV18 after Videocon's sale of stake to ONGC, that the group will continue to operate in the oil sector and is keen on a foray into the banking space.
Bharat Business Channel, direct to home TV arm of Videocon Group, has received the go-ahead from market regulator Sebi for its proposed Rs 700 crore initial public offering.
Market regulator Sebi has sought clarifications from the merchant banker of Bharat Business Channel, direct to home TV arm of Videocon Group, regarding the company's proposed Rs 700 crore public offering.
Diversified Videocon Group today announced to invest Rs 800-1,000 crore in telecom business in Punjab. The company may also consider investment in setting up an assembly unit for LCD and washing machines in the state.
An application was today moved in the Supreme Court seeking to bring Videocon group within the ambit of CBI probe in the 2G scam alleging that one of its companies was a major beneficiary of spectrum allocation during former telecom minister A Raja's tenure.