NCLT junks insolvency plea against Simplex, cites co’s stuck receivables
The National Company Law Tribunal (NCLT) in Kolkata has blocked a petition from Central Bank of India that would have allowed insolvency proceedings against Simplex Infrastructures. The engineering company remains in debt to government agencies and contractors, with some payments mired in arbitration. The debt could potentially allow Simplex to pay back creditors, according to […]
Equity MF flows, SIPs fall in April despite rebound
“Intermittent holidays in April and the volatility in markets amid corporate earnings weighed on flows,” said AMFI Chief Executive NS Venkatesh.
Overnight rates refuse to fall in line with RBI’s rate moves
Over the past month, the call rate has hovered around 6.75%, 25 bps higher than the benchmark policy repo rate. The call market is an uncollateralised lending and borrowing facility used by banks to meet short-term funding needs.