The reserve price for the assets going on sale has set at Rs 65 crore, meaning that at most the auction will let the lenders recover just a fraction of what they are owed. The banks earlier this year took over USD 15 million worth of airline property after a two-year legal battle
Posts tagged MC
Lenders to grounded Kingfisher Air to auction some assets (21-11-2015)
Report card: Surprises of Q2 as Sensex cos profit falls 2% (21-11-2015)
Poor rural demand, low volume growth and lack of pricing power weighed on companies earnings last quarter. However, declining global commodity prices continued to be saving grace. Gross margins of few companies have expanded due to savings in raw material costs.
Aim to resolve call drop issue with govt via dialogue: Voda (21-11-2015)
Sunil Sood, managing director and CEO of Vodafone, said telcos need to work with various stakeholders such as some parts of resident associations and municipalities in order to increase the number of towers, especially Lutyens Delhi area — to enable companies (telcos) to construct towers in these places
Francois Hollande to be chief guest at Republic Day in 2016 (21-11-2015)
The decision comes in the wake of the attacks in Paris following which world nations including India have rallied behind France.
This is what the bond market is saying about the Fed (21-11-2015)
The yield was just under 0.90 in afternoon trading, and analysts say it is in a range that could be stretched in the next few weeks if the Fed’s path to rate hikes remains on track. The 2-year last traded at that level more five years ago.
VW cuts 2016 capital spending as cheating scandal widens (21-11-2015)
Volkswagen has told regulators that emissions issues in larger luxury cars and SUVs extend to an additional 75,000 vehicles dating back to 2009, the Environmental Protection Agency said on Friday.
India blocks visits by US officials despite warmer ties (21-11-2015)
Washington has been seeking to send Susan Coppedge, its newly appointed anti-people trafficking ambassador, and Randy Berry, its special envoy for LGBT rights, to New Delhi this month.
Nestle sells 3.3 cr packs of Maggi in 10 days (21-11-2015)
On the financial implications of the ban on Maggi, Nestle India said it had to bear an exceptional cost of Rs 476.2 crore, which included cost of destroying 34,663 tons of the noodles.
See India as strong export, software, engineering hub: ABB (21-11-2015)
In an interview with CNBC-TV18, Ulrich Spiesshofer, Global CEO of ABB says that India is prospering and ABB plans to use this growth momentum to double its business in the country in coming time.
Solar power: Revolutionising power generation costs? (21-11-2015)
Sumant Sinha, chairman and CEO of Renew Power, a company which delivers solar and wind power solutions, says while solar power costs are coming down in general, it is nowhere close to Rs 4.63. “I would think that the proper pricing of solar power is still there, in excess of Rs 5,” he says.