JAL Case: NCLAT reserves ruling on Vedanta plea
The National Company Law Appellate Tribunal (NCLAT) has reserved its order on Vedanta’s petitions challenging Adani Enterprises’ bid for debt-ridden Jaiprakash Associates Ltd. The tribunal concluded hearings after arguments from Vedanta, the Resolution Professional, Committee of Creditors, and Adani Enterprises.
Rupee falls for a 3rd day, loses 30 paise to 93.79/$
The Indian rupee experienced its third consecutive daily decline, closing at 93.79/80 against the dollar. This depreciation was fueled by escalating crude oil prices, driven by geopolitical tensions in West Asia and US President Trump’s threats towards Iran.
Impact on growth and inflation to depend on duration of West Asia conflict: MPC says
RBI policymakers acknowledged that a prolonged West Asia conflict poses risks to India’s economic growth and inflation, though the economy remains resilient. The monetary policy committee opted for a wait-and-watch approach due to geopolitical uncertainties and concerns over El Nino’s impact on inflation.