Top headlines: Bankruptcy case against Anil Ambani, TCS-Epic Systems case

Business Standard brings to you a snapshot of events that made it to the headlines today

NCLT agrees to hear SBI's bankruptcy case against Anil Ambani

A quasi court has agreed to hear a petition by the nation’s largest lender seeking to initiate personal bankruptcy against tycoon Anil Ambani after the former billionaire failed to repay debt. Read on...

Indian PSBs face fresh capital shortages as coronavirus bites: Moody's

Public sector banks will need external capital of up to Rs 2.1 trillion over the next two years and the most likely source to plug this shortfall will be government support, Moody's Investors Service said on Friday. According to Moody's, the sharp slowdown in India's economic growth, exacerbated by the virus outbreak, will hurt the asset quality of public sector banks (PSBs) and drive up credit costs. Read on...

Kamath committee recommendations will be out by September 6: RBI Governor

The guidelines on the KV Kamath committee recommendations will be out by September 6, Reserve Bank of India (RBI) governor Shaktikanta Das said in a television interview on Friday. The committee on business loan resolution would submit its recommendations within one month and the central bank will soon release its final guidelines on the issue. Read on...

US court upholds $140 million compensation in TCS-Epic Systems case

An appeals court in the United States has upheld compensatory damages of $140 million and directed reassessment of punitive damage of $280 million in the TCS-Epic Systems intellectual property theft case. Read on...

For millions of migrant workers, Covid-19 brought caste discrimination back

Millions of migrant workers made arduous journeys to their villages after India imposed the world’s largest lockdown in March. Back in the rural hinterland, many say caste discrimination is reversing even the small economic and social gains they eked out in the cities. Read on...