Company posts loss of Rs 91.83 crore in 2018-19 on account of “impairment of provision of Rs 190.85 crore arising from the investments made in IL&FS in the form of unsecured short term inter-corporate deposits,” said the rating agency.
Purdue officials said the costs of dealing with waves of opioid suits made a bankruptcy inevitable, and the company projected it will spend about $263 million on legal and related professional costs in 2019.
"We allow the appellant to implead Union of India through Ministry of Corporate Affairs and Enforcement Directorate as respondent No 3 & 4. The UoI may address the matter on behalf of CBI and SFIO," said NCLAT.
Amazon Prime members can buy products under the festive season from 12 noon on September 28. The e-commerce giant promises exclusive deals on the widest selection of smartphones, laptops, cameras, large appliances, home & kitchen products and more.
Responding to questions sent by The Indian Express on the notices and the key allegations, a Reliance spokesperson replied: “We deny all the contents of your email including receipt of any such notice.”
Acharya Balkrishna, the company’s Chairman, had told The Indian Express recently that the unit will become operational around Diwali and would buy the first orange crop this season from farmers in Vidarbha.
Retail sales continue to be in the slow lane, leaving dealers saddled with high inventory, while company stockyards are also short of space. This has reduced dealers’ ability to take further stock, prompting manufacturers to shut down plant and cut production.