Relief for Nippon India MF as SAT sets aside Irdai order in pledging case

Nippon India Mutual Fund (MF) has bought aid from the Securities Appellate Tribunal (SAT) on Thursday in a pledging situation the place the fund residence had extended maturity of non-convertible debentures (NCDs) of former group firm — Reliance Property Finance (RHF) — against pledging of Reliance Capital’s (RCap’s) keeping in Reliance Basic Insurance policy Corporation (RGICL).

The matter pertains to NCDs of RHF, which have been maturing on June 28, 2019. The dwelling finance firm was not able to meet its payment obligations. Subsequently, the maturity was extended to Oct 31, 2019, against added security of RCap’s keeping in RGICL.

Even more, a company ensure was presented by RCap and the ‘put option’ appropriate was presented to the NCD holders. This intended RCap would be needed to order the NCDs when the choice is exercised.

Nippon India MF exercised the ‘put option’ prior to the maturity of NCDs. The fund

Read More

Tata Motors, two group firms accused of antitrust violations: Report

India’s competition regulator is examining allegations that Tata Motors and two finance companies of its $one hundred billion mother or father team abused their marketplace place when promoting business motor vehicles, according to 3 sources and legal documents observed by Reuters.

The Opposition Fee of India (CCI) is examining a grievance which alleges the country’s biggest seller of trucks dictated conditions close to the quantity and style of motor vehicles its former seller in northern India – Varanasi Vehicle Income – should inventory.

Additional than a dozen attorneys representing the 3 Tata providers attended a personal listening to at the CCI in January and argued there was no malpractice by the group’s companies, claimed the 3 sources, who have direct awareness of the make a difference.

The Tata Team has faced antitrust evaluations in the previous. A CCI investigation very last 12 months uncovered models of Tata Metal and other

Read More