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ITC appoints managing director Sanjiv Puri as chairman.
ITC on Monday appointed its managing director Sanjiv Puri as the conglomerate's chairman. Puri, 56, was being mentored by YC Deveshwar for the dual role of chairman-cum-managing director for a transition originally scheduled for 2021-22. Puri became CEO in 2017 and managing director the following year. Deveshwar became non-executive chairman in 2017. Read More
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RCom lenders likely to claim up to Rs 90,000 crore.
Lenders to Reliance Communications expected to claim dues of up to Rs 90,000 crore, almost double the Rs 46,000 crore debt that the telco has on its books, making it among the highest demanded from companies that have gone for insolvency. Demands were submitted to RBSA Advisors LLP, the interim resolution professional appointed to oversee the insolvency process of the Anil Ambani-owned telco. Read More
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The Inaugural Directors' Connect Meet on Insolvency & Bankruptcy Code,2016.
The Insolvency and Bankruptcy Code has by far been the most crucial and essential piece of legislation that was needed in India’s statutory books. Considering the large number of non-performing assets (NPAs) that the Indian banking system has been afflicted with, the Insolvency and Bankruptcy Code serves as an amalgamated mechanism for dealing with corporate insolvency in India. The desideratum of the Code is to enable effectualness within the insolvency and bankruptcy law regime disentangling the commercial and judicial aspects of insolvency and bankruptcy process. The Inaugural Directors’ Connect Meet on “Insolvency & Bankruptcy Code, 2016” held on May 9, 2019 at the Claridges, New Delhi focused on the defining role played by the legislation on bolstering the corporate governance framework of the country. The primary goal of the session was to increase the audience’s understanding of the Insolvency & Bankruptcy Code, 2016 and to enhance their abilitiy in navigating through the legal intricacies within the IBC framework. Read More
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Etihad says it can only invest Rs 1,700 crore in Jet Airways.
Etihad Airways has said it can only invest up to Rs 1,700 crore in Jet Airways, a fraction of what the grounded airline needs for survival. The Abu Dhabi carrier is also noncommittal on Jet’s dues and has demanded a one-time settlement in a highly conditional bid it submitted on Friday. Read More
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Vikram Bakshi is finally out, and McDonald's India is lovin' it.
McDonald’s India announced last week that it just acquired full ownership of Connaught Plaza Restaurants — the entity that ran the global giant's operations in north and east India — from its long-estranged business partner Vikram Bakshi. Read More
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