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The lenders will now approach the National Company Law Tribunal (NCLT) with a formal request to initiate liquidation proceedings. The company's assets are in the custody of the Enforcement Directorate after Modi was charged with offences under the Prevention of Money Laundering Act and the Fugitive Offenders Act.
View: What the West can learn from India's ease with the pastIn the past, the guardians of uber cosmopolitanism were accustomed to berating conservatives for their unending preoccupation with the past. History, the argument went, may be replete with interesting tales but has no relevan… Read MoreIn Mumbai, the wait to cremate the dead is only getting longerOut of four electric crematoriums in eastern suburbs, two have not been functioning for the past two weeks; other two running beyond capacity
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… Read MoreChina reports 66 new COVID-19 cases after sudden spike in BeijingChina has reported 66 new coronavirus cases, the largest since the disease was controlled in its first epicentre Wuhan in April, prompting the authorities to go into a "wartime" mode to stem the spread of COVID-19 in the capi… Read MoreGovt unlikely to go for privatisation of PSBs this fiscalPrivatisation of any public sector bank (PSB) during the current fiscal is very unlikely due to their low valuations and mounting stressed assets amid the COVID-19 crisis.
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… Read MoreSoldier killed, two injured in Pakistani firing in PoonchThe officials said the latest firing and shelling from across the border took place in Shahpur-Kerni sector on Saturday night, drawing strong retaliation by the Indian Army.
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