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Apex court raps NCLT over Unitech order
The Supreme Court has expressed its unhappiness over the National Company Law Tribunal (NCLT) passing an order against realty major Unitech, putting at risk the court’s efforts to provide relief to homebuyers. The apex court said the NCLT should have taken its leave before allowing the government to take over Unitech’s management. Read more
Industrial growth slows; retail inflation at 15-month high
Worrying signs surfaced on the industrial growth and inflation fronts on Tuesday, less than two weeks after the official data showed economic growth rose 6.3 per cent in the second quarter of the current financial year as against 5.7 per cent in the first. Read more
Warburg to pick up 20% in Airtel DTH
Global private equity firm Warburg Pincus will acquire up to a 20 per cent stake in Airtel’s DTH arm Bharti Telemedia for $350 million. This will be the second innings for Warburg to invest in a Bharti Group entity. Read more
Monnet Ispat first stressed firm to get bids, JSW Steel submits plan
Monnet Ispat & Energy has become the first stressed company to get resolution plans from prospective bidders. It is among the 12 large corporate loan defaulters referred by the Reserve Bank of India for insolvency proceedings. Read more
Reliance Industries mulls Jio IPO by 2019
India’s richest man is weighing an initial public offering (IPO) of mobile operator Reliance Jio Infocomm, people with knowledge of the matter said, after a $31-billion investment spree that roiled the country’s wireless market. Read more
