Moratorium to be extended till december

Representative image (Source: ShutterStock) Distressed companies liquidated under the bankruptcy code have far outnumbered those rescued as of March end, according to the latest data released by the Insolvency and Bankruptcy Board of India (IBBI) . Beginning December 2016 till March 2022, 47 percent of corporate insolvency processes went into liquidation, compared with 14 percent that ended in a resolution plan, according to the data. To quantify, out of a total of 5,258 corporate insolvency proceedings initiated under the code till March, only 3,406 have been closed. Among those closed, as many as 1,609 proceedings have ordered liquidation, while 480 have ended in approval of resolution plans. The economic value of most of the companies that were liquidated had “almost completely eroded” even before they were admitted in the insolvency process, the IBBI report said. Their assets were valued at less than 8 percent of the outstanding debt amount. Indian lenders are left … [Read more...] about 47% of IBC cases ended in liquidation till FY22, shows IBBI data

The RealReal, Inc. ( REAL ) shares rose nearly 4% during Tuesday's pre-market hours after Baird initiated coverage on the stock at Outperform with a $23.00 price target and Wells Fargo reiterated its Overweight rating and raised its price target from $20.00 to $25.00 per share. Key Takeaways RealReal shares moved higher during Tuesday's session after two analysts weighted in favorably on the stock. The analysts believe that RealReal shares are appropriately discounted and see improvements in supply and gross merchandise value trends. The stock moved further into overbought territory, but looking at technical indicators, the intermediate-term trend remains bullish. Baird analyst Mark Altschwager believes that RealReal shares are appropriately discounting elevated near-term risk factors, which sets up an attractive risk/reward profile during a recovery in luxury goods. At the same time, Wells Fargo analyst Ike Boruchow sees improvements in supply and gross … [Read more...] about RealReal (REAL) Extends Rally After Analysts Weigh In

The Reserve Bank of India (RBI) appointed Yogesh K Dayal, its chief general manager, as an additional director on the board of private lender RBL Bank for a period of two years. The appointment came into effect on December 24, 2021. RBL Bank, in a regulatory filing on December 25, said its board has welcomed the central bank's decision. "The bank shall benefit from this addition considering his rich experience with the highly respected regulator," it said. His tenure would last "for a period of two years w.e.f December 24, 2021 till December 23, 2023 or till further orders, whichever is earlier", RBL Bank said. The appointment has been made by the RBI under Banking Regulation Act, 1949. The lender noted that Dayal is not related to any of the directors or other key managerial personnel of the bank, and is also not debarred from holding the office of director by virtue of any SEBI order or any other regulatory or statutory authority. Notably, Dayal is a career central banker … [Read more...] about RBI appoints Yogesh Dayal as additional director on RBL Bank board for two years

(CNN) The record run-up in home prices and rents exacerbated the affordable housing crisis in the US, and rising interest rates stand to make it even worse, according to Harvard University's annual State of the Nation's Housing Report released Wednesday. Although quickly rising mortgage rates are already appearing to cool overheated housing markets, they are putting the homeownership dreams of millions of Americans even further out of reach, researchers and housing industry experts said. These renters were hit hardest by the pandemic and they're still struggling The income needed to qualify for a home has skyrocketed: The mortgage, property tax and insurance payments for a median-priced home of $340,700 cost $700 more per month in April 2022 than they did a year before. And the annual income needed to qualify for such a home is $28,000 higher in April 2022 versus last year, according to Harvard's Joint Center for Housing Studies, which analyzed data from … [Read more...] about The dream of owning a home is out of reach for 4 million Americans

Ankiti Bose (Image: @ankitibose/Instagram) Zilingo founders Ankiti Bose and Dhruv Kapoor have joined hands to make a management buyout offer of the company as the Singapore-based business-to-business (B2B) e-commerce startup is staring at voluntary liquidation, according to sources aware of the matter. "Given the potential of the business and the value you know this company can achieve, I urge you to consider the management buyout offer as a preferred alternative to voluntary liquidation," Dhruv Kapoor, Zilingo's co-founder and chief technology officer, told the Board of Directors of Zilingo, in a mail, a copy of which was viewed by Moneycontrol. "I make this offer on the basis of firm investor commitments and having appointed legal and financial advisers in respect of the management buyout offer," Kapoor added. According to the letter, the new investor will be infusing $8 million in equity in tranches. The offer further stated that pursuant to Singapore's Insolvency, … [Read more...] about Zilingo founders join hands, make buyout offer as B2B startup teeters on edge of liquidation

Share to Twitter Share to Linkedin Here are 5 huge changes to student loans, but details remain unclear. Here’s what you need to know — and what it means for your student loans . Student Loans As President Joe Biden decides his next move regarding student loans, there is good news on the horizon for student loan borrowers. Biden has committed to fixing student loans, including changes to student loan forgiveness and student loan repayment. In some cases, details remain sparse. However, in other instances, there is a clear path to welcomed improvements. Here are 5 huge changes to student loans that you can expect soon: 1. Student loan forgiveness: more borrowers will qualify Biden has canceled $25 billion of student loans since becoming president. While Biden has focused on targeted student loan cancellation, he has committed to ensuring that more student loan borrowers can get access to student loan forgiveness. Who are the big winners from … [Read more...] about 5 Huge Changes To Student Loans

All investment advice essentially boils down to this: invest regularly, and start as early as possible. But this is easier said than done, especially when the earnings in our 20s are so low! However, here are 4 key things you can do now, even when you don't earn all that much, to set yourself up for an absolutely enviable financial future. Learn to use your credit card like a boss: pay zero interest and zero fees Your credit card only accumulates interest when you don't pay it in full. Even the smallest amount outstanding, starts the meter on the interest. The best thing you can do is set up standing instructions to pay the outstanding amount each time. Pay off your balance every month - this way you have all the benefits of a credit card, without paying a single paisa to the bank in interest. A trap you must avoid is having multiple credit cards - it's much harder to track your expenses when they're spread out over multiple cards. It can also be difficult to keep track of … [Read more...] about 4 Things to do before turning 30, for an enviable financial future.

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × The merger between Shriram Group of companies will likely be completed by September-end, and to increase the effectiveness of merged entity, over 500 branches of Shriram Transport Finance Corp (STFC) and Shriram City Union Finance (SCUF) will cross-sell each other’s loans, deposits and other products beginning July 1, SCUF Managing Director and Chief Executive Officer (MD & CEO) YS Chakravarti told Moneycontrol on June 22. Shriram Group's board had on December 13 approved the merger of its lending subsidiaries Shriram Capital (SCL) and SCUF with STFC. The merged entity would be known as Shriram Finance. Chakravarti said the group ran a pilot project, focusing on cross-selling different products of STFC and SCUF in 50 branches initially. This led to loan lead … [Read more...] about As Shriram Group merger nears completion, 500 branches of STFC, SCUF to cross-sell products: MD

- A + A KUALA LUMPUR (June 25): The Federation of Malaysian Manufacturers (FMM) has hailed the government’s decision not to pass through a higher surcharge rate to consumers despite the recent sharp increase in fuel and other electricity generation costs. “The FMM is pleased that the government had positively considered its call for assistance to help curb one of the industries’ major operational input costs, i.e. energy cost,” said FMM president Tan Sri Soh Thian Lai on Saturday (June 25). On Friday, Prime Minister Datuk Seri Ismail Sabri Yaakob said Putrajaya had decided to maintain the electricity and water tariffs in Peninsular Malaysia in efforts to fight the rising cost of living. In a statement, Soh said: “The government’s decision to absorb the cost of the fuel price which amounts to RM5.8 billion and hence maintain the Imbalance Cost Pass-Through (ICPT) surcharge at the current rate as well as to maintain the current water tariffs would ease the cost … [Read more...] about FMM hails govt’s decision to absorb fuel price increase

AIIMS Director Dr Randeep Guleria (Image Source: ANI) The tenure of AIIMS New Delhi director Dr Randeep Guleria has been extended by another three months, according to an office memorandum issued by the premier hospital on Thursday. Dr Guleria was appointed as the director for a term of five years on March 28, 2017. Before his tenure was to end on March 24, it was extended by three months till June 24. "The President, AIIMS, New Delhi is pleased to further extend his tenure as Director, AIIMS, New Delhi w.e.f. 25.06.2022 by three months or by the time new Director is appointed, whichever is earlier. Other terms and conditions of his appointment would be in accordance with the Rules of the Institute," the fresh memorandum said. The Appointments Committee of the Cabinet (ACC) headed by the prime minister met on June 20 seeking a wider panel of names for the post of director of the All India Institute of Medical Sciences (AIIMS) here. "… The Competent Authority in the ACC has … [Read more...] about AIIMS director Randeep Guleria gets another 3-months extension