Vishwanath Nair
Banking Editor at BQ Prime
Banking Editor @ndtvprofitindia Always looking for exciting stories to be told, at work or otherwise. Previous: @livemint and @FinancialXpress
Articles
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1 week ago |
ndtvprofit.com | Vishwanath Nair
The Supreme Court on Friday held JSW Steel Ltd's acquisition of Bhushan Power & Steel Ltd as illegal and ordered the liquidation of the beleaguered steelmaker. In an order, the apex court ordered that the resolution plan submitted by JSW Steel in 2019 be rejected. JSW Steel had won the bid to acquire Bhushan Power & Steel under the insolvency and bankruptcy code for a little less than Rs 20,000 crore. It had beaten Tata Group and UK-based Liberty Group to win the asset.
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2 weeks ago |
ndtvprofit.com | Vishwanath Nair
Nearly 50 days after an accounting discrepancy was disclosed, IndusInd Bank's Managing Director and Chief Executive Officer Sumant Kathpalia, resigned on Tuesday night. This came a day after Deputy CEO and head of treasury function Arun Khurana resigned too. While Kathpalia's exit was fated, the timing was probably a surprise to many. News reports that had called out that the CEO and his deputy would resign before their term ends, ha...
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2 weeks ago |
ndtvprofit.com | Vishwanath Nair
Arun Khurana, deputy chief executive officer of IndusInd Bank, has resigned with immediate effect on Monday, the bank told exchanges. In his resignation letter, Khurana cited the recent accounting discrepancies in the bank's derivatives business as the main reason behind this decision.
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3 weeks ago |
ndtvprofit.com | Vishwanath Nair
Private sector lender IndusInd Bank Ltd. on Monday disclosed that it has detected "certain concerns" in its microfinance portfolio and that an internal audit is underway. "As a part of the process of finalization of accounts, the Bank’s Internal Audit Department (IAD) is conducting a review of the Bank’s MFI business, to examine certain concerns which have been brought to the Bank’s attention," IndusInd Bank told exchanges.
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3 weeks ago |
ndtvprofit.com | Vishwanath Nair
Happy Tuesday! This week India is busy hosting US Vice President JD Vance and his family. On the day of his visit, India’s competition commission was quick to settle Google’s Android TV case for Rs 20 crore. This case has been going on since 2021 and is now the first one to be settled under the amended Competition Act where settlement and commitment provisions were added in 2023.The timing could not have been better, as India also si...
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RT @NDTVProfitIndia: #NDTVProfitExclusive: #RBI may consider tighter norms for unsecured loans by banks. For the latest news and updates,…
RT @NDTVProfitIndia: Japan's #Sumitomo Mitsui Banking Corp to acquire 20% stake in #YesBank, with #SBI selling 13.19% stake. Read: https:…
A smaller stake than anticipated. Will be interesting to see what RBI thinks of this
#Breaking | #SBI to divest 13.19% stake of #YesBank to Sumitomo Mitsui Banking Corp. For the latest news and updates, visit https://t.co/by4FF5o0Ew https://t.co/g9OWYPk4Qc