DAILY NEWS: OUR PICKS


Sucheta Dalal Sucheta Dalal 17 September 2021
Over the past few years, 80-odd companies have faced the ignominy of having their decisions overturned by collective action of institutional or retail investors. In a remarkable case last week, which could be a turning point of sorts in the battle for better management accountability, large...

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Moneylife Digital Team 16 September 2021
The Indian government has decided to set up National Asset Reconstruction Co Ltd (NARCL) to aggregate non-performing assets (NPAs) in banks’ balance sheets and manage and dispose them professionally. "Along with NARCL, we are also setting up an India Debt Resolution Co Ltd (IDRCL)," says...

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Moneylife Digital Team 16 September 2021
The enforcement directorate (ED) on Thursday raided the home and office of Harsh Mander, a retired officer from the Indian Administrative Services (IAS) and human rights and peace worker. Interestingly the raids were carried out hours after the social activist and his wife left for Germany...

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Moneylife Digital Team 16 September 2021
With the Supreme Court mentioning (SC) the removal order as ‘awkward’, the Union government agreed to allow justice Ashok Iqbal Singh (AIS) Cheema to continue as acting chairperson of the National Company Law Appellate Tribunal (NCLAT) until 20 September 2021. Justice Cheema had approached...

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Vinita Deshmukh Vinita Deshmukh 16 September 2021
The High Courts have a poor record of proactive disclosures under section 4 of the Right to Information (RTI) Act in terms of implementation and quality of dissemination of such information on their respective websites. This can be gauged from the fact that only 15 of the 24 High Courts have...

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Moneylife Digital Team 16 September 2021
Abhay Bhutada, managing director (MD) and chief executive officer (CEO) of Poonawalla Fincorp Ltd (erstwhile Magma Fincorp) has resigned soon after market regulator Securities and Exchange Board of India (SEBI) barred him and seven others for insider trading in Magma Fincorp just before the...

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Moneylife Digital Team 15 September 2021
In a curious turn of events, Inveso Developing Market Funds, which was welcomed by Zee Entertainment managing director (MD), Punit Goenka (elder son of Zee group founder Subhash Chandra), as a major investor in 2019, has now turned on him.   At Zee Entertainment, two largest...

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Moneylife Digital Team 15 September 2021
"Look at the name; it is the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund). It is not Modi care fund. If it was the Modi care fund, we would not have asked for the information. It is the prime minister and the PM is a public authority, a...

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Moneylife Digital Team 15 September 2021
Demergers, especially in the chemicals sector, have been value-accretive for investors. Jubilant Ingrevia, Fairchem Organics, Privi Speciality Chemicals, Aarti Surfactants and the recently listed Meghmani Finechem are some of the stocks that have delivered enormous returns. Another stock,...

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Moneylife Digital Team 15 September 2021
Giving a significant relief to telecom service operators, the Union Cabinet on Wednesday announced a moratorium or deferment of up to four years in annual payments of dues arising out of the adjusted gross revenue (AGR) judgement or spectrum payments. The Cabinet meeting headed by prime...

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Moneylife Digital Team 15 September 2021
A generous regulatory approach to stressed-loan restructuring will reduce incurred-loss provisioning and enable Indian banks to spread the related credit costs over a longer period of four years, resulting in a more manageable impact on profitability and capital, says Fitch Ratings. The...

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Vinod Kothari Vinod Kothari  and   Vinita Nair 15 September 2021
At one end India is aiming to be included in global bond indices and government is aiming to open the domestic bond market. At the other end, Securities Exchange Board of India (SEBI) is enforcing stricter compliance requirements on the bond issuers and the intermediaries associated with the...

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Moneylife Digital Team 15 September 2021
India's household debt increased on an average by 1.5 times between 2012 and 2018. The state-wise trend indicates that the rural households' average debt more than doubled in 18 states for the six years ended 2018, while seven states witnessed the same for urban households. Over the next...

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Moneylife Digital Team 14 September 2021
As the second wave of COVID receded from June 2021 and as restrictions were lifted, Radico Khaitan (Radico) notched up month-on-month (m-o-m) increase in demand. In Q1FY21-22, it reported Indian made foreign liquor (IMFL) sales volume of 5.61mn (million) cases representing an increase of...

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Moneylife Digital Team 14 September 2021
The Kolkata-headquartered SREI group, which includes SREI Infrastructure Finance (SIFL) and SIFL’s wholly-owned subsidiary SREI Equipment Finance (SEFL), has been under stress for about a year now. In December 2020, the Kolkata bench of the National Company Law Tribunal (NCLT) had issued an...

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Moneylife Digital Team 14 September 2021
The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) decided to link their respective fast payment systems unified payments interface (UPI) and PayNow. The linkage is targeted for operationalisation by July 2022.   In a release, RBI says, “The UPI-PayNow...

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IANS 14 September 2021
The gross non-performing assets (GNPAs) of banks are expected to cross Rs 10 lakh crore by March 2022, a ASSOCHAM-Crisil joint study had said.   "NPAs are expected to rise to 8.5-9 per cent by March 2022, driven by slippages in retail, micro, small and medium enterprise (MSME)...

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Moneylife Digital Team 14 September 2021
Two independent directors, namely Ashok Kurien and Manish Chokhani, resigned from the board of Zee Entertainment Enterprises Ltd a day before the company’s annual general meeting (AGM). Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China...

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Moneylife Digital Team 14 September 2021
In yet another example of shareholder activism, almost 90% of stakeholders, mainly institutions and the public, have rejected a proposal to delist Allcargo Logistics Ltd.    Promoters of Allcargo Logistics, including Shashi Kiran Shetty, Aarthi Shetty, Adarsh Hedge, Priya Hedge, and...

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Moneylife Digital Team 14 September 2021
As many as 15 sitting and former information commissioners (ICs) have urged chief justice NV Ramana to direct courts, which are routinely invoking their writ jurisdiction to pass stay orders against decisions given by the information commission on Right to Information (RTI) appeals, to...

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