BPSL creditors face big clawback after SC rejection of plan
The Supreme Court overturned JSW Steel’s acquisition of Bhushan Power & Steel, potentially requiring creditors like Deutsche Bank and SBI to refund ₹19,350 crore within two months. This decision stems from a clause in the resolution plan mandating repayment if the acquisition was invalidated. The court also rejected JSW Steel’s justification for delaying a significant […]
Nifty could move higher towards 24,857–25,000: Analysts
Stocks such as HCL Tech, Coforge, Indian Oil, Reliance Industries, DLF, Godrej Properties, Bharti Airtel, Grasim, HDFC Bank, BEL, Abbott, CEAT, Navin Fluorine, and Bharat Dynamics are expected to show relative outperformance.
IIFL Finance sues ACRE over asset recovery
In its petition, IIFL said ACRE arbitrarily suspended and eventually terminated recovery operations, disrupting momentum and continuing to levy fees in violation of RBI guidelines. The finance firm also said ACRE misused trust funds to cover its legal expenses in arbitration proceedings-costs that were explicitly disallowed under the transaction documents.
Small foreign stakes in listed cos face banks’ regulatory barriers
At least half a dozen large private and MNC banks, following a rigid interpretation of the law, have told such offshore investors that they can hold less than 10% in listed companies only after registering themselves as foreign portfolio investors (FPI) with the Securities & Exchange Board of India (Sebi).