12.06.18 Economic News
👉CBI Asks Interpol to Issue Red Corner Notice against Nirav Modi
👉NCLT Admits Andhra Bank’s Insolvency Plea Against Mumbai-based Sterling Biotech Ltd, which owes around ₹4,000 crore to a consortium of lenders
👉The Australia and New Zealand Banking Group (ANZ Bank) approaches NCLT, seeking to be categorized as a Financial Creditor to Ruchi Soya Ltd. It has been currently categorised as an operational creditor by the Resolution Professional
👉RBI Releases Draft Norms & Guidelines to Modify Loan System for Delivery of Bank Credit to Improve Discipline Among Larger Borrowers Enjoying Working Capital Facility from the Banking System
👉More than 1,300 Fresh Foreign Portfolio Investors (FPIs) were registered with SEBI in 2017-18 on continued interest in the Indian capital markets
👉Over Rs 7,000 Crore or half of the pending GST refunds of exporters has been cleared in the first nine days of the ongoing special refund fortnight
👉The Bengaluru Bench of ITAT in ACIT v. Sunil Bandacharya Joshi, held that the Assessee is entitled to get Income Tax Deduction on the Mutual Fund Withdrawals Invested in Villas and Bank under section 54F of the Income Tax Act.
Economic Times
Ø RBI releases norms to modify loan system for borrowers
Ø Cash-rich RIL looks to raise $3 bn as debt matures
Ø 'UK confirms Nirav Modi's presence in Britain'
Ø Court admits insolvency plea against Sterling Biotech
Ø Real estate cos staring at Rs 20K cr hole in their books
Ø Fortis defers approval of Q4, FY18 results to June 25
Business Standard
Ø Patanjali, Adani submit bids to buy Ruchi Soya
Ø Once flush with $4.3 bn, ONGC has shed 90% of its cash to feed oil demand
Ø Banks to face bigger challenges than NPAs in the coming years, says SBI
Ø Government to ensure coal availability to power plants: Piyush Goyal
Ø RBI Governor Urjit Patel likely to appear before parl panel on Tuesday
Ø PSBs may see Rs 180-200 billion mark-to-market losses in Q1FY19
Business Line
Ø Infosys gets nod to delist from Euronext Paris, London
Ø Monsoon heads for a break after delivering 18% surplus
Ø Gujarat millers seek govt support to popularise groundnut oil
Ø L&T Construction bags orders worth Rs 2,210 cr
Ø Vedanta acquires management control of Electrosteel Steels
Mint
Ø Maruti Suzuki launches water ATM in Manesar in CSR initiative
Ø RBI to raise $30-35 billion via NRI bonds to support rupee: Report
Ø Elliott urges Thyssenkrupp to negotiate better Tata Steel deal
Ø Once cash rich, India’s demands erode 90% of ONGC’s war chest
Ø D-Mart parent hits Rs1 trillion market cap
Ø India’s petrol, diesel demand rise to record highs in May
Financial Express
Ø Bharti Airtel to increase mobile sites in TN by 30%
Ø More banks unlikley to come under RBI corrective action, says finmin official
Ø PM Modi to dedicate to nation SAIL’s expanded steel plant at Bhilai on June 14
Ø Tata Power bags 150 MW solar project in Maharashtra
Ø Over Rs 7000 cr GST refunds of exporters cleared
Financial Chronicle
Ø No intent to control sugar sector; just helping mills clear cane arrears: Govt
Ø Sebi orders probe into ASM list leak
Ø Allahabad Bank refers Rs 12,566cr accounts to NCLT
Ø Rapid rise in demand led to feeling of coal shortages: Goyal
