IL&FS accounts not to be declared NPAs, rules NCLAT

New Delhi (IANS) The National Company Law Appellate Tribunal (NCLAT) on Monday said the cash-strapped Infrastructure Leasing and Financial Services (IL&FS) and its group companies will not be declared as non-performing assets (NPA) without approval…

No decision on taking Jet Airways to NCLT: SBI

Mumbai (IANS) The State Bank of India (SBI) on Monday said no decision has been taken on moving the National Company Law Tribunal (NCLT) to recover loans from private carrier Jet Airways and called media reports in this regard "speculative".

Government's mega merger plan for general insurance firms hits fresh roadblock

New Delhi (IANS) The government's plans for the mega merger of three general insurance firms to create one large and strong entity seems to have hit a roadblock. The Department of Financial Services (DFS), which oversees the operations of state-owned…

Kia Motors plant set to transform backward Anantapur district

Anantapur (Andhra Pradesh) (IANS) South Korean automobile giant Kia Motors' plant is set to transform Anantapur, one of the country's most backward districts.

The sprawling plant, which has come up over 536 acres of land…

GST on under-construction houses cut to 5%

New Delhi (IANS) The GST Council on Sunday lowered the tax on under-construction residential properties to 5 per cent from 12 per cent to boost the realty sector. The new rates will be implemented from April 1.

The council also reduced goods…

SBI mulling insolvency route via NCLT to recover Jet Airways loan

Mumbai (IANS) State-run State Bank of India (SBI) is looking at approaching the National Company Law Tribunal (NCLT) to recover its loans from private carrier Jet Airways, according to SBI officials.

By an overwhelming majority, shareholders…

'4.2 bn euros, 50k jobs lost if high-speed train link to France ditched'

Brussels (IANS/AKI) A total 4.2 billion euros and 50,000 jobs will "go up in smoke" if Italy's populist government pulls a planned high-speed rail link to France, European Parliament president Antonio Tajani said on Friday.

SEBI bars commodity trading by Motilal Oswal, IIFL in NSEL scam

Mumbai (IANS) Market regulator Securities and Exchange Board of India (SEBI) has declared the commodity broking arms of Motilal Oswal and India Infoline (IIFL) as not "fit and proper", as part of the action taken in the NSEL case.

SEBI…

India Ratings maintains stable outlook for auto sector in 2019-20

Mumbai (IANS) Ratings agency India Ratings and Research (Ind-Ra) has maintained a stable outlook on the auto sector, anticipating improving sales in the sector during the next fiscal over expectations of better liquidity in non-bank financial companies.

Government bans unregulated deposit schemes

New Delhi (IANS) The government has issued the Banning of Unregulated Deposit Schemes Ordinance, 2019 to prevent chit fund scams and protect small investors.

The ordinance, which prevents any individual or group of individuals from taking any…