NCLT slams Jaypee over ‘fraud’ 750-acre mortgage

New Delhi, May 18: In a setback to Jaiprakash Associates (JAL), the parent of insolvency-hit Jaypee Infratech, and its lenders, the National Company Law Tribunal (NCLT) has said that the mortgage of over 750 acres to secure the interests of the parent was “fraudulent, preferential and undervalued” and has asked for a reversal of these […]

Finance Minister Piyush Goyal vows to clean up banking sector

Finance Minister Piyush Goyal vows to clean up banking sector

New Delhi, May 17: Finance Minister Piyush Goyal today vowed to quickly put on track the banking sector, which has been marred by scandals and bad debts that threaten to have repercussions for the broader economy. Goyal, who was earlier this week given temporary charge of the finance ministry until Arun Jaitley recovers after undergoing […]

Won’t apply for top Bank of England job: Former RBI Chief

Won’t apply for top Bank of England job: Former RBI Chief

London, May 17: Former Reserve Bank of India chief Raghuram Rajan said on Wednesday he did not intend to apply for the job of Bank of England governor which is due to come vacant next year. Rajan has been mentioned by analysts as a possible future BoE governor after Mark Carney – who previously headed […]

SEBI warns PNB over late disclosures in Nirav Modi fraud

SEBI warns PNB over late disclosures in Nirav Modi fraud

New Delhi, May 17: Market regulator SEBI on Thursday warned the Punjab National Bank (PNB) over late disclosures made in the matter related to the Nirav Modi Group, Gitanjali Group and others and advised the PSU bank to be cautious in future. “There are delays of 1-6 days by PNB in making disclosures to the […]

PNB Housing Finance more valuable than its parent PNB

PNB Housing Finance more valuable than its parent PNB

New Delhi, May 17: PNB Housing Finance is now more valuable than its parent company PNB which has seen its market capitalisation more than halve since being hit by a massive banking fraud allegedly carried out by diamantaire Nirav Modi and his uncle Mehul Choksi. The market capitalisation (m-cap) of PNB Housing Finance stood at […]

Vodafone continues noble ‘Ramadhan initiative’ for education of underprivileged Kashmiri children

Srinagar, May 17: Reaffirming its commitment towards the society in which it operates, Vodafone India, for a sixth year running, will celebrate the holy month of ‘Ramzan’ through its noble ‘Giving’ initiative for underprivileged children in Kashmir. The initiative aims to raise money which will be used to support the noble cause of education of […]