Author
The author is Director BW Businessworld Media Private Limited
India’s stock markets have been in shake-up mode. While some of the factors have been logical and cyclical – rising oil prices, strengthening of the US dollar – however, the driving factors behind some of the news making developments have been asymmetrical, and often times illogical. And it is nobody’s case that some, if not all, of these asymmetrical and illogical factors have been agenda driven, having nothing to do with the fundamentals of the entities they have impacted.
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The IDBI deal may serve as a template for recapitalisation of not just struggling banks but also other core sector companies
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The markets have been buzzing and fluctuating as news of the LIC-IDBI deal has hogged the headlines over the past week. And while reams have been spoken about the mechanics and the merits of the deal itself, there is one issue that is critical which does not seem to have been appropriately addressed – protection of the minority public shareholders. And in all the buzz, there is one particularly disturbing piece of news that seems to be floating around. That the regulatory framework intends to waive the requirement of an open offer in this deal. This not only goes against the spirit and intent of the Substantial Acquisition of Shares & Takeover regulations of SEBI, but also defy basic logic.
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ICICI Bank’s credit committee can only consider proposals from companies considered creditworthy by its credit risk evaluation teams
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Cryptocurrency, which is secured by blockchain, when issued by a central bank on the basis of its position, would have guarantee equivalent to hard currency in circulation today
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ICICI Bank deals with most of the corporates in this country and so just by that association relatives - many of them well established and reputed by themselves - of senior officials cannot be prevented from associating with them
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