Under the Insolvency and Bankruptcy Code (IBC), companies can offset losses of the insolvent firm against profits. BPSL had ₹7,000 crore in losses, which it offset after becoming profitable post-acquisition.
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India risks losing a key remittance lifeline as the US, under Donald Trump, tightens immigration policies and proposes a 5% tax on money transfers by non-citizens. Remittances, vital for India’s economy, totalled $120 billion last year, with the US contributing…
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The next review meeting of the Monetary Policy Committee of the RBI is scheduled for June 4-6.
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India’s audit regulator, NFRA, has launched a preliminary inquiry into Gensol Engineering’s books after SEBI flagged fraud allegations. The probe will assess auditors’ role and adherence to standards. SEBI’s earlier report alleged fund diversion and governance lapses.
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Its arm JSW Neo Energy Ltd (JSW Neo) has acquired 4,696 MW renewable energy platform of O2 Power Pooling Pte Ltd (O2 Power) for an enterprise value of ₹12,468 crore.
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Vaibhav Taneja, Tesla’s CFO, has garnered attention with his extraordinary $139.5 million compensation for 2024, primarily from stock options, surpassing tech leaders like Satya Nadella and Sundar Pichai. Taneja’s journey from Delhi University to Wall Street, including roles at PwC…
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