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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
A section of Reliance Home Finance bondholders, upset by the poor payouts made as part of the acquisition process, now threatens to derail his plans to quickly enter the lending business.
X owned 490 bonds of Reliance Home Finance Ltd, formerly a part of the Anil Dhirubhai Ambani Group that went into bankruptcy. Carrying a face value of Rs 1,000 each, he should have got Rs 4.9 lakh under the resolution plan of the company that was cleared by the Supreme Court in March this year.
Instead, what he was repaid was less than a fourth of that amount. X isn’t alone. There are a little over 2,300 such bondholders who were eligible to get full repayment under the plan, but have received haircuts ranging from 73% to 90%.
The discrepancy …
The restaurant chain operator has decided not to renew its franchise agreement for the coffee and donut chain in India. This was a long time coming, and it’s only good news for Jubilant and its shareholders.
The automaker that virtually created India’s electric car market is forced to offer record discounts, even as rivals surge and competition is set to get fiercer.
Atanu Chakraborty’s resignation does not appear as damaging as the bank’s response to it. The ‘all is well’ narrative needs an independent audit.
