NCLT, Mumbai Bench dismissed the petition filed by Cyrus Mistry who incidentally owns about 18.3% (including preference capital) of Tata Sons Limited. NCLT ruled that Tata Sons Limited has all the rights to remove its Executive Chairman and NCLT found no merit in Mistry’s allegations of operational mismanagement and oppression of minority shareholders. The Mistry-Tatas […]
The hurriedly constituted panel by the government under the chairman ship of Mr. Sunil Mehta, Chairman, Punjab National Bank (is it by default or design?) does not necessarily inspire confidence in finding the solution for the vexed problem of NPAs of the public sector banks and is it being done so as to dilute the […]
Is the PNB fraud an operational failure or a auditing failure or a regulatory failure is the question (leaving alone the political slugfest) in the people mind and there are lot of claims and counter claims on the basic reasons for such a massive scam to have happended. No bank is without operational risks and […]
The new Non Performing Assets (NPA) Rules of RBI announced recently seems to be apparently to make the books of the Banks reflect the actual underlying asset quality but in the short term the NPA provisioning in the short term would get bad ,if not worse, in the short term. (Assuming that there are no […]
When the existing system is fine and there is nothing to fear about, then why need for a new Financial Resolution and Deposit Insurance (FRDI) Bill in the present form and substance ?
While the ordinance section 29 A of the IBC code for which the presidential assent has already been given which bars the existing promoters from bidding in the resolution process has been challenged in the Punjab & Haryana High Court No doubt the ordinance is meant to disallow the dishonest and wilful defaulters from participating […]
