Sunny Verma

Profile

Sunny Verma is an Assistant Editor with The Indian Express and writes on economy and finance.

Appellate Tribunal order: NCLAT grants interim relief to IL&FS against creditor actions
Tue, Oct 16, 2018

IL&FS has an aggregate debt of Rs 91,000 and has been defaulting on its debt obligations since last month, putting the credit markets in a downward spiral.

IL&FS debt defaults: ‘Finance Ministry, Reserve Bank efforts not in sync on liquidity crisis’
Mon, Oct 15, 2018

Post the IL&FS default and the liquidity crisis in the market, banks have nearly stopped lending to the NBFCs and HFCs, thereby making it tough for them to do normal business.

IL&FS board seeks settlement of dues from NHAI worth up to Rs 16,000 crore
Thu, Oct 11, 2018

The IL&FS group, which has a total debt of Rs 91,000 crore, has to repay Rs 1,085 crore worth of commercial papers in the next six months during October 29, 2018 to March 13, 2019.

No bids for over a month: Air India extends deadline for Rs 500-crore loan till Oct 31
Tue, Oct 09, 2018

This has come after senior officials of the airline reached out bankers last week, who needed more clarity on the company’s stake sale and revival package plans.

‘Eased ECB norms for OMCs unlikely to arrest rupee slide’
Tue, Oct 09, 2018

This is unlikely to provide any immediate relief in terms of arresting the rupee slide, industry sources said.

IL&FS fallout: Finance firms face fund crunch
Tue, Oct 09, 2018

Funds from commercial paper, debt market at unviable rates; NHB steps up its refinance facility by Rs 6,000 crore

Liquidity crunch: NHAI might provide some relief to IL&FS
Sun, Oct 07, 2018

‘The Authority is likely to make payments for portion of completed projects’

How first cut in fuel prices in a year could strain finances
Fri, Oct 05, 2018

On top of the excise duty cut, which will cost the exchequer Rs 21,000 crore in a full year, the government has asked oil marketing companies to share a burden of Re 1 per litre of fuel, which will result in under-recoveries.

New IL&FS Board brainstorms plan for revival, short-term dues in focus
Thu, Oct 04, 2018

IL&FS has to repay around Rs 2,500 crore to banks and debt paper holders by March 31, 2019.

Markets anxious over IL&FS’ Rs 2,644.86-crore repayment schedule
Fri, Sep 28, 2018

IL&FS and its subsidiaries Tuesday filed a petition with the Mumbai Bench of the National Company Law Tribunal (NCLT) seeking to restructure its debt under Section 230 of the Companies Act 2013.

We will not let IL&FS collapse, says LIC, largest shareholder
Wed, Sep 26, 2018

Incidentally, IL&FS and its subsidiaries Tuesday filed a petition with the Mumbai Bench of the National Company Law Tribunal (NCLT) seeking to restructure debt under Section 230 of the Companies Act 2013.

LIC stays invested in zero-revenue, loss making companies as mutual funds exit
Mon, Oct 08, 2018

The domestic mutual fund industry’s investment into these 45 companies shows that the funds increased their holding only in three between 2010 and 2018

LIC stays invested in zero-revenue, loss making companies as mutual funds exit
Wed, Oct 03, 2018

LIC is sitting on a big loss as share price fell from 73.15 in March 2017 to Rs 37.65 in September 2017. The share price of the company closed at Rs 21.1 on September 18. The company announced zero revenue in the year ended March 2018 and a profit of Rs 19 lakh.

PSB Consolidation: Bank of Baroda gets Vijaya Bank breather with Dena Bank stress
Wed, Sep 19, 2018

This would ensure that while absorbing the two smaller banks, Bank of Baroda gets the positive strength of Vijaya Bank while dealing with the stiff challenges associated with turning around Dena Bank.

Bankruptcy cases: Foreign funds load up equity to buy companies
Mon, Sep 17, 2018

Specialised stressed assets funds line up more than Rs 15,000-crore equity capital, joining hands with Indian entities.

Four days before Vijay Mallya flew out, lawyer told SBI to move court, stop him
Fri, Sep 14, 2018

While the banks missed out on stopping Vijay Mallya from leaving the country, the SBI-led consortium of 17 banks finally filed a petition in the Supreme Court on March 5.

Relax PCA, capital adequacy rules: House panel to RBI
Tue, Sep 11, 2018

Out of 21 PSBs in the country, 11 currently under the RBI’s PCA framework, which kicks in when banks breach any of the three key regulatory trigger points — capital to risk weighted assets ratio, net NPA and Return on Assets.

Why you shouldn’t expect a cut in fuel prices any time soon
Tue, Sep 11, 2018

Why is it so difficult for governments to cut taxes on auto fuels and could the inclusion of petrol and diesel under GST change this situation? All your questions answered.

Simply put: Rise of imports, beyond crude
Mon, Sep 10, 2018

It is not just rising prices and imports of crude that have put pressure on the rupee. From coal & coke to electronics and minerals, a look at how Indian imports have risen sharply from one fiscal to the next.

Preponement of income tax return deadline drives up e-return numbers
Sat, Sep 08, 2018

In the 2018-19 financial year, the tax department announced that returns filed after August 31, 2018, will attract penalty of Rs 5,000.

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