Moratorium will extend till december 2020

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

Share to Twitter Share to Linkedin If you’re struggling to figure out who to vote for in the presidential primaries next year, you’re not alone. With so many contenders (at least on the Democratic side), let's look at what plans do the candidates have to keep college costs down. Not every candidate has taken a clear position yet, but we read the tea leaves a little bit on the main Republican and Democratic candidates. This is different from the proposals to tackle the student loan debt crisis, which you can read here: 2020 Presidential Candidates' Proposals On Student Loan Debt . Instead, this article is specific to proposals around lowering the ballooning cost of higher education. Photo Credit: Getty Getty Republican: Donald Trump In general, Republicans don’t believe the government (federal or state) should have much of a role in funding public higher education, and see responsibility for costs as falling entirely on the … [Read more...] about The 2020 Presidential Candidates’ Proposals On Lowering College Costs

Share to Twitter Share to Linkedin Topline At least six Republican lawmakers asked the White House for pardons after the January 6 attack on the U.S. Capitol, according to testimony former White House officials gave to the January 6 committee, with many suggesting a blanket pardon for anyone involved with the attack. Key Facts Reps. Matt Gaetz (R-Fla.), Marjorie Taylor Greene (R-Ga.), Louie Gohmert (R-Texas), Andy Biggs (R-Ariz.), Scott Perry (R-Pa.) and Mo Brooks (R-Ala.) all personally asked for pardons, according to Cassidy Hutchinson, who served as an aide to former White House chief of staff Mark Meadows. Hutchinson said in a video deposition that Rep. Jim Jordan (R-Ohio) also inquired about a pardon, but did not ask for one personally—she recalled him inquiring about a broad, blanket pardon. Gaetz heavily pushed for "preemptive pardons" starting in early December 2020 for lawmakers involved with the White House about talks to overturn … [Read more...] about Jan. 6 Hearings: 6 Republicans Allegedly Asked Trump For Pardons—Including Marjorie Taylor Greene And Matt Gaetz

Share to Twitter Share to Linkedin Topline Covid-19 vaccines saved almost 20 million lives worldwide during the first year they were rolled out, according to a mathematical modeling study published in the Lancet Infectious Diseases on Thursday, which found vaccines cut the potential global death toll from the coronavirus in half during that year. Key Facts Vaccines prevented 19.8 million out of a potential 31.4 million deaths during the first year after vaccines were first introduced in December 2020 to December 2021, according to the study, which reviewed Covid death records and excess death data from 185 countries and territories. Vaccines saved the most lives in high and upper-middle income countries, where researchers estimated increased access to vaccines prevented 12.1 million deaths. The study shows the “remarkable global impact” vaccination had on the pandemic, said Oliver Watson, lead author of the study and Schmidt science … [Read more...] about Vaccines Prevented Nearly 20 Million Covid Deaths Worldwide In One Year, Study Finds

Share to Twitter Share to Linkedin Topline Federal law enforcement agents on Wednesday searched the home of Trump-era Department of Justice lawyer Jeffrey Clark, whose push to pursue shaky voter fraud allegations following the 2020 election caused uproar at the DOJ—and drew intense scrutiny from the House January 6 committee Thursday. Key Facts Clark confirmed the search in a Thursday night interview with Tucker Carlson, telling the Fox News host about a dozen federal agents visited his home at 7 a.m. Wednesday and spent over three hours searching his house and removing electronics. It’s not clear why federal agencies searched Clark’s suburban Virginia home, but unnamed sources told the New York Times the search was tied to the DOJ’s probe into attempts to reverse former President Donald Trump’s 2020 election loss. William Miller, a spokesperson for the U.S. Attorney’s office in D.C., told Forbes “there was law enforcement activity” … [Read more...] about Feds Search Trump DOJ Official Jeffrey Clark’s Home

Naveen Tewari, Chief Executive Officer of InMobi. Image Credit: Tech in Asia. About 25 to 40 percent of Indian unicorns will struggle to survive during the current bust cycle and will eventually shut down owing to foolish business models and negative unit economics, according to Naveen Tewari, Chief Executive Officer (CEO) of InMobi. “You will see probably 25 percent to 40 percent of the existing unicorns will just go away in this phase,” said Tewari in a recent episode of Bits to Billions . According to Tewari, a major issue with several Indian unicorns is they have foolish business models. He said, “You cannot have a business model saying I want to give you something worth 100 rupees for 80 rupees, please come and get it. Oh, I just built a billion-dollar business. That's not how it works.” Also Read: InMobi's Glance aims to cross one billion users in 2-3 years, says CEO Naveen Tewari Tewari believes such unicorns might become zombie unicorns and eventually shut … [Read more...] about 25-40% unicorns won’t survive due to foolish models, negative unit economics: InMobi CEO Naveen Tewari

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

Conny Braams from Unilever; Dara Treseder from Peloton; Forbes CMO Hall of Famer Antonio Lucio; and Frank Cooper III from Visa. Illustration by Alexander Wells for Forbes. Recognizing the 50 Most Influential CMOs in the World By Seth Matlins , Managing Director, Forbes CMO Network Additional reporting by Diane Brady , Emmy Lucas , Olivia Peluso , Lauren Debter , Isabel Lord , Katherine Dunn T wo hundred years before it was first used as a verb, “influence” was a noun denoting the stars’ ability to affect human lives and destinies. Today, we consider “influence” less astrologically and more practically, focusing on the chief marketers who wield it to shape the character and destinies of the brands and businesses they help steward. The link between marketing and influence has always been inextricable. After all, a chief marketer’s job is about nothing more than it is the influencing of attitudes and behaviors in … [Read more...] about The Forbes World’s Most Influential CMOs List: 2022

Most of the large merchants have complied with the RBI's card-on-file (CoF) tokenisation norms and 19.5 crore tokens have been issued so far, sources said. The RBI had directed the merchants to implement its tokenisation norms by June 30, 2022. The central bank has twice extended the deadline of its implementation in the past. Card-on-file or CoF refers to card information stored by payment gateway and merchants to process future transactions. According to the sources, the system is fairly well prepared as most large merchants have already adjusted. Some of them are in the process of doing it, while for some foreign entities business may not be that large for them to focus on making these changes, the sources said. There are about 19.5 crore tokens have already been issued so far and it is going up regularly, they added. Under tokenisation services, a unique alternate code is generated to facilitate transactions through cards. The RBI in last September prohibited merchants … [Read more...] about Most large merchants comply with card tokenisation as deadline nears

Share to Twitter Share to Linkedin College may be an important first step into many profitable careers, but the growing costs of higher education can make you wonder if it’s worth the investment. You could go with the status quo and leave school with an average student loan debt of around $29,900 according to recent statistics , but you could also enter a profitable trade and potentially get paid while you complete an apprenticeship. There’s also the option to attend a community college or start a business instead, but I digress. These days, it’s all about attending college without a concrete plan then figuring out your next steps after you’ve racked up considerable student loan debt. But since student loan debt can almost never be discharged in bankruptcy, you really have few options to consider other than getting on a government-backed repayment plan or refinancing your loans so you can score a lower monthly payment, a lower interest rate, or both. … [Read more...] about The Must-Read Rules Of Student Loan Refinancing