NEW DELHI: Essar Steel has moved the Gujarat High Court against insolvency proceedings initiated by the banks on the direction of the Reserve Bank (RBI). The high court issued notice to the RBI and leader of the banking consortium SBI and posted the matter for Friday, sources said. When contacted, a company spokesperson said: “Essar…
Bond connect seen to help foreign investors access China debt market 05 July 2017 Category: News, Asia, China, Global, Hong Kong By Asia Asset Management The newly-launched China-Hong Kong Bond Connect is expected to facilitate the internationalisation of Chinas fixed income market with more foreign institutional investors using…
Piyush Pandey MUMBAI, July 04, 2017 20:32 IST Updated: July 04, 2017 20:32 IST “; var device = “”; for ( var type in WFClientTypeDef) { if (window.matchMedia(WFClientTypeDef[type]).matches) { switch (type) { case “xlarge”: device = ‘desktop’; break; case “large”: device = ‘desktop’; break; case “medium”: device = ‘tab’; break; case “small”: device = ‘mobile’;…
No country can be indifferent to China’s economy, especially not Australia. We’re more exposed to what goes on in it than just about any other nation. China has long been the biggest market for our commodities, such as iron ore, coal and wool. And now it is the largest foreign buyer of our services, especially…
By Rebecca Lawrence For Mailonline Published: 00:37 +10:00, 5 July 2017 | Updated: 00:45 +10:00, 5 July 2017 e-mail View comments She’s been keeping a low-profile since it emerged her husband had been declared bankrupt. But Lilly Becker, 41, made a bold fashion statement in a scarlet mini dress on Tuesday as she enjoyed some…
Mumbai: The National Company Law Tribunal (NCLT) on Tuesday approved bankruptcy proceedings for power infrastructure company Jyoti Structures Ltd, making it the first among the 12 cases referred by the central bank under India’s new Insolvency and Bankruptcy Code (IBC). The tribunal’s order came on an insolvency application filed last week by the company’s lead lender State…
The total amount due to SBI stands at Rs 1,601 crore, the banks lawyer said during the proceedings at the tribunal. The company initially owed Rs 1,227 crore to the state-run lender, according to the working capital consortium agreement extended in March 2012. The loan was restructured in September 2014. Jyoti Structures is among the…
Chinas debt-laden Huishan Dairy said its debt restructuring advisor has proposed grouping the businesses of the company and selected assets of its chairman Yang Ka and his own ventures together to form a new entity held by some of its creditors, shareholders and management. It is the first time that Chinas largest dairy farm operator…
Samsung, one of the largest electronics company in the world, was forced to reduce its global workforce due to the restructuring of its business operations in China, based on company data. The data shows that the electronics giant has reduced the number of its employees in 2016 by 5.2 percent, from 325,677 down to 308,745.…
A business model where property portal Domain is the prize and newspapers the problem is among the reasons two equity firms may have soured on a multi-billion dollar takeover of Fairfax Media, analysts say. Rival bidders TPG and Hellman & Friedman both ended their interest in bidding for Fairfax at the weekend, with no reason…