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India.com
17 minutes ago
- India.com
Anil Ambani gets massive relief after paying Rs 920000000 to..., Reliance Infrastructure will now be...
Anil Ambani (File) Big relief for Anil Ambani: In a significant development for the Ambani family, the National Company Law Appellate Tribunal (NCLAT) has provided major relief to Anil Ambani. In the recent ruling, the NCLAT has put a stay on insolvency proceedings against Reliance Infrastructure in in a case related to Rs 88.68 crore unpaid dues from a Rs 920 crore loan case, which were earlier allowed by the Mumbai bench of the National Company Law Tribunal (NCLT). Here are all the details you need to know about the NCLAT ruling and how it is big update for Anil Ambani. How has Anil Ambani's NCLAT responded? 'In the appeal filed, the Hon'ble National Company Law Appellate Tribunal, New Delhi (NCLAT), today has suspended the Order dated May 30, 2025 passed by National Company Law Tribunal, Mumbai in case no. C.P. (IB)/624(MB)2022, admitting the Company into Corporate Insolvency Resolution Process.' How Anil Ambani's Reliance Infra reached NCLAT? The NCLT had admitted an insolvency plea against Reliance Infrastructure over unpaid dues of around Rs 88.68 crore to Dhursar Solar Power. However, Reliance Infra challenged this at the NCLAT, claiming it had already paid the full amount with interest (Rs 92.68 crore). On June 4, 2025, the NCLAT stayed the insolvency proceedings, granting temporary relief to Anil Ambani's company. National Company Law Tribunal passes important verdict Meanwhile, the National Company Law Tribunal (NCLT) upheld the primacy of the Enforcement Directorate in dealing with proceeds of crime linked to money laundering over claims by creditors against a 'bankrupt' company under the insolvency code, an official was quoted as saying by a report by IANS news agency. Why This NCLT Verdict is important? The verdict of the Tribunal's bench comprising Bachu Venkat Balram Das and Sanjeev Ranjan, delivered in a matter related to Shakti Bhog Snacks Limited, said: 'The Insolvency and Bankruptcy Code (IBC) cannot be used as a mechanism to frustrate or sidestep the legitimate process of law under the Prevention of Money Laundering Act, 2002.' (With inputs from agencies)
News18
24 minutes ago
- News18
Efforts on to fix minimum support price for fish procurement: Rajesh Dharmani
Bilaspur (HP), Jul 19 (PTI) Efforts are being taken to fix a minimum support price (MSP) for fish procurement to strengthen the economic condition of farmers, Urban Development, Housing, Technical Education, and Vocational and Industrial Training Minister Rajesh Dharmani said on Saturday. Addressing a day-long district-level fisheries awareness camp organised in Kutbaungand, under the Agriculture Produce Market Committee (APMC), Bilaspur, he said that a meeting with Chief Minister Sukhvinder Singh Sukhu will be held soon to take necessary decisions in this regard. The state government is committed to supporting fish farmers and has reduced fish royalty from 15 per cent to 7.5 per cent, directly benefiting the fisher community, he added. Dharmani announced that permanent shops will be provided near Oahr, along the four-lane highway, to fish cooperative societies for selling raw and cooked fish. Additionally, temporary stalls will be allowed at suitable points along the Chandigarh-Manali highway, so that local fishermen can directly benefit from the tourist traffic. The minister instructed Fisheries Department officials to resolve issues where contractors purchase fewer fish during the period of high yield. He emphasised the need to focus on food processing and value addition so that surplus fish can be preserved in cold storage and further processed to enhance income for local fishermen. He also mentioned that a cable ferry project has been proposed to connect the Naina Devi Temple with Baba Balak Nath Temple, facilitating the transport of devotees' vehicles across the route. The government has approved Rs 14 lakh for preparing the detailed project report (DPR) of this project. Vijaypal Nag, President of the Cooperative Society Jagatkhan, demanded the revival of the Fisheries Housing Scheme so that fishermen could be provided with residential benefits. He pointed out that although APMC collects a one per cent royalty, the cooperative fish societies have yet to receive basic infrastructure support, and urged the construction of an APMC office and other facilities. PTI CORR BPL BAL BAL view comments First Published: July 19, 2025, 20:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
26 minutes ago
- Time of India
Yes Bank Q1 results: Net profit jumps 59% to Rs 801 crore; treasury gains, other income drive growth
Yes Bank on Saturday reported a 59% year-on-year rise in net profit to Rs 801 crore for the June quarter of FY26, buoyed by strong gains from treasury operations and a sharp uptick in non-core income. The private sector lender said its other income surged 46% to Rs 1,752 crore, while treasury income swung to a gain of Rs 484 crore from a loss of Rs 32 crore in the year-ago period. Core net interest income grew 5.7% to Rs 2,371 crore, aided by a 5% expansion in advances and a 10 basis point rise in net interest margin to 2.5%, PTI reported. Managing director and CEO Prashant Kumar said the bank remains cautious on retail lending, preferring not to expand aggressively in low-margin products. However, he expressed confidence in accelerating overall advances growth during the rest of the year and reaffirmed the bank's full-year loan growth target. Gross slippages rose to Rs 1,458 crore during the quarter from Rs 1,223 crore in the preceding three months, with Kumar noting that two business accounts that slipped are likely to return to performing status soon. Kumar also said the proposed 20% stake acquisition by Japan's Sumitomo Mitsui Banking Corporation (SMBC) is expected to be completed by the end of September. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Live Update: The Strategy Uses By Successful Intraday Trader TradeWise Learn More Undo However, he declined to confirm whether SMBC had applied for an additional 5% stake. Asked about his own tenure following the Reserve Bank of India's six-month extension, Kumar declined to comment. He added that Yes Bank does not require fresh capital to support its growth plans, citing a comfortable capital adequacy ratio of 16.2%, with core Tier-1 capital at 14%. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
