An amount of Rs 1,30,156 crore as on December 2015, was classified as NPAs in PSBs for borrowers exceeding Rs 500 crore, according to the finance ministry data.
The e-auction of Kingfisher House, Kingfisher Airline’s corporate office in Mumbai, to be held on Thursday by SBICAP Trustee Company, is likely to be a damp squib as no buyer is understood to have approached SBICAP. Sources with knowledge of the development said that SBICAP Trustee has not received the earnest money deposit (EMD) from […]
Led by SBI, banks ask firms to sell non-core assets or get external investors.
He, however, rejected suggestions to draw parallels between the defunct private carrier Kingfisher and state-run Air India over their huge losses and debt burdens.
The government's white-collar fraud detection agency is probing whether such a high valuation was arrived at fraudulently to get more funds from banks and siphon off the additional money for purposes other than proposed investment in the airline.
Fag-end buying saved the day for the domestic market as BSE Sensex reversed all of its early losses to settle 131 points higher at 24,682.48, tracking a strong opening in Europe as investors awaited the US Federal Reserve's policy meet outcome.
"I've not given any email or interview to anyone including Sunday Guardian,email account attributed to me does not belong to me," said Mallya.
The Bill was passed by Lok Sabha on March 9 with the government overruling demands by some parties for sending it to the Standing Committee of Parliament.
The Bill comes up in Rajya Sabha on Wednesday.
Kingfisher has come under the scanner of multiple investigative agencies, including the CBI, Special Frauds Investigation Office (SFIO) and service tax department, after it defaulted on loans of over Rs 7,000 crore borrowed from 17 banks.
The agency has already written to 17 banks who lent money to the grounded Kingfisher Airlines and later went to the Debt Recovery Tribunal.
According to Cairn, CUHL is pursuing its rights under Indian law to appeal the assessment, both in respect of the basis of taxation and the quantum assessed.
The Indian Express had earlier reported on the Rs 1.14 lakh crore of debts written off by 29 state-owned banks between 2013 and 2015.
After the IRDA had announced its norms in November 2015, six global reinsurers applied for licenses for branch operations.
Market benchmark Sensex slipped from its six-week high today by plunging 253.11 points to 24,551.17 while NSE Nifty cracked below the 7,500-mark on profit-booking in healthcare and FMCG stocks amid weak global cues.
The 11th Special Magistrate at Erramanjil Courts complex on Monday issued the NBWs against the grounded Kingfisher Airline Chairman and another senior official of the company.
Force India cars were reported to be coming and going last week at Mallya's 11.5 million pound ($16.5 million) mansion in the village of Tewin, just north of London.
Infibeam will hit the capital markets on March 21 to mop-up Rs 450 crore through an initial share plan, becoming the first e-commerce firm to tap the IPO route.
P&G said all its products, including Vicks Action 500 Extra, were backed by research to support their quality, safety and efficacy.
Despite the government sticking to its fiscal deficit target of 3.5 per cent and maintaining the gross borrowing at Rs 6 lakh crore for the next financial year, interest payments on public debt are estimated to rise in 2016-17.