Independent directors in a fix after SC order on asset transfer in Jaiprakash Associates case – Economic Times

MUMBAI: A recent Supreme Court judgement restraining independent directors of Jaiprakash Associates from transferring any personal assets over a group companys insolvency issue has sent shock waves through the independent directors fraternity, with experts warning that there would be few takers for this role. Several independent directors on boards of companies are now seeking legal…

Telecoms Up, But Not By Much, On Cyclical Move — Telecoms Roundup – Fox Business

Shares of telecommunications companies rose, but not by as much as the broad market, as traders rotated into economically sensitive areas. Continue Reading Below In a highly unusual move, China Development Bank, a policy bank which often helps fund Chinese companies’ investments overseas, late last week filed a petition for Indian carrier Reliance, also known…

Only ‘errant promoters’ need fear IBC: Centre | Business Line – Hindu Business Line

Slams canard, says ordinance levels thefield for applicants New Delhi, November 27:   In defence of its recent insolvency ordinance, the government has asserted that the entire effort is aimed at disqualifying errant promoters while providing for a level-playing field for all prospective resolution applicants, including the promoters. There is no merit in the contention in…

Rcom cracks 9% on ‘premature’ action by CDB – ClickLancashire

BSE had sought clarification from Reliance Communications after market hours yesterday with respect to news that China Development Bank has filed an insolvency case against it. China Development Bank has filed a case against Reliance Communications (RCom) under the Insolvency and Bankruptcy Code, becoming the first lender to move court against the debt-laden telecom company.…

China Development Bank Pushes Reliance Communications Closer to the Edge – Wall Street Journal

The debt woes of one of Indias leading wireless carriers Reliance Communications have deepened this week thanks to an unlikely new source of pressurea leading state-owned Chinese bank. It emerged late Monday that China Development Bank, a policy bank which often helps fund Chinese companies investments overseas, had late last week filed a petition for…