Companies News

Supreme Court orders status quo in Essar insolvency case

A bench headed by Justice R F Nariman said the monitoring committee will continue its work till the case is heard on August 7.

IL&FS looks for new law firm after conflict of interest complaint

The complaint alleged that CAM was legal adviser to the former board of IL&FS, which is facing criminal and legal action by government agencies, and continues to perform that role for the new board, too. 

Pvt insurance firms got Rs 46 crore premium in 2 yrs, paid Rs 7 crore in claims to Railway passengers: RTI

According to the RTI reply received by Madhya Pradesh-based social activist, Chandra Shekhar Gaur, while IRCTC has paid Rs 38.89 crore to insurance companies, passengers have so far paid Rs 7.29 crore in the past two years.

Credit agencies bent over backwards for IL&FS: Forensic report

These revelations are at the heart of a scathing indictment of top agencies in a draft forensic report on alleged wrongdoing as IL&FS slipped into default.

Oyo founder inks deal to buy back shares worth $2 bn; his stake to rise threefold

As per sources in know of the matter, after the entire process is completed, Ritesh Agarwal’s stake in Oyo will rise from the current 9-10 per cent to around 30 per cent. This would take the valuation of the company to around $10 billion.

Reliance Industries Q1 net up 6.8% to Rs 10,104 crore on jump in digital, retail revenue

RIL’s telecom and digital arm Reliance Jio reported a 45.6 per cent increase in net profit at Rs 891 crore for the June quarter as against Rs 612 crore in the same period of last year.

IndiGo quarterly profit soars to Rs 1,203 cr on higher passenger revenues

The parent of the country's largest airline IndiGo, had a profit after tax of Rs 27.79 crore in the year-ago period. The profit has increased more than 43 times.

IndiGo quarterly profit soars to Rs 1,203 cr on higher passenger revenues

Total income climbed to Rs 9,786.94 crore for the June quarter from Rs 8,259.69 crore in the same period a year ago, according to a regulatory filing.

IL&FS hosted top executive of credit agency, got high ratings

Sources confirmed that Brickwork Ratings — an agency promoted by Canara Bank — allegedly gave favourable ratings to debt instruments of IL&FS group companies as its founder director D. Ravishankar allegedly received IL&FS Group’s hospitality in Spain along with his family.

IndiGo promoters’ feud: Govt may check validity of shareholder pact with Companies Act

Rahul Bhatia’s entity has refuted the allegations stating that the parties went in to the ventures “with their eyes open” and that the deal was struck between “seasoned business people who made their own assessment of risks, their rights and their obligations”.

Lenders to Suzlon sign ICA for stress resolution

On Tuesday, Suzlon defaulted on principal payments due on foreign currency convertible bonds worth $172 million. The company owes banks Rs 9,624 crore as on March 31, 2019.

‘Ability to raise funds substantially impaired’, DHFL shares drop 29%

Expect to ‘restart business in August 2019’, company says in statement on Monday.