Author
The writer is author of the book: The Market Mafia - Chronicle of India’s High-Tech Stock Market Scandal & The Cabal That Went Scot-Free. Palak has been a journalist in Mumbai for nearly two decades now. He has worked for most premier pink papers including The Economic Times, Business Standard and The Financial Express and The Hindu Business Line. He was drawn to crime reporting at the age of 19 but a few years in the field told him that the fabric of crime had changed and the organised gangs, as Mumbai had witnessed during the eighties, no longer existed. It was business and markets that dominated the scenario. His passion to unravel the intricacies of the ‘white money’ economy led Palak to the world of finance and regulations.
The whole resolution plan seems like a mockery of the collective intelligence of India's bureaucracy, and banking and insurance officials since the Hinduja Group has proposed to pledge 100 per cent RCAP shares to raise Rs 8000 crores for RCAP acquisition. Simply put, do the Hindujas don't have their own money and depend on RCAP shares as collateral to raise funds?
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Sebi says AGI failed to disclose the show cause notice issued by CCI to it, modification of its application to CCI and litigation related to the CCI order. AGI had witnessed a 236 per cent rally due to the buoyancy of CCI orders
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Petition in NCLT says AGI Greenpac benefited from the fire at HNG's Nashik plant and blames RP and COC for not taking corrective action despite the availability of funds. Employees allege RP, COC colluding with acquirer AGI, which is recruiting HNG employees after the fire
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Ashok Hinduja had claimed they will clear lender dues worth Rs 9850 crore in 48 hours post IRDA approval
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COC approved AGI Greenpac's resolution plan before CCI approval, which is mandatory as per insolvency bankruptcy code. Later, AGI won conditional approval from CCI, which goes against the set precedents of the SC, other judges have opined.
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Despite the amicable division of the Godrej family's business empire, a theme of male dominance persists, with the majority of the empire valued at over Rs 3 lakh crore divided between Adi and Nadir Godrej, highlighting patriarchy in the family
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New entities were introduced in the transaction at the eleventh hour, just days ahead of expiry of RBI deadline. RCAP to issue debentures to raise funds for its own acquisition. Deadline extension may be a huge setback for lenders
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100 per cent NRI-owned funds allowed to be set up in India's tax haven GIFT City, allowing them to pump more money into stock markets
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The government is allowing re-entry of ODIs also known as P-notes via GIFT City. Now, all Sebi-registered FPIs are allowed to issue ODIs with Indian securities as underlying. Motive to bring Fund Management in Singapore, Hong Kong, Mauritius to India
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RCAP administrator says, the contents of the letter were explained to him but IRDA has to accept the replies after examination
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