MARKET LINKED RESOLUTION
Ensure transparency, faster resolution under IBC for better recovery: IBBI chief
The Insolvency and Bankruptcy Board of India (IBBI) is a key institution in implementing the IBC, which came into force in 2016. Mital asked the insolvency professionals to complete the resolution process fast and ensure that the assets are sold as a going concern.
IPs spend significant time on issues related to statutory authorities during IBC process: Survey
Insolvency professionals face challenges with statutory authorities and enforcement agencies during the resolution process, as per a survey by IIIPI. Issues include initiation of proceedings against Corporate Debtors during moratorium, and notices for matters pre-CIRP. IPs spend up to 25 per cent of the IBC process timeline on these matters. IIIPI Chairman Ashok Haldia noted difficulties in responding to authorities when records are missing or only past management is accountable.
Sebi suggests local regulators oversee crypto trading
Both sets of documents, which have been seen by Reuters, have been submitted to a government panel which is tasked with formulating policy for the finance ministry to consider. SEBI's stance has not previously been reported.
Will China become the cat among India's EV pigeons?
Chinese electric vehicles are causing concern in the US and Europe due to their affordability and efficiency. The US has responded by imposing tariffs on Chinese EVs and lithium-ion batteries. India may now become a target for Chinese EVs. Stellantis is considering manufacturing Leapmotor's electric vehicles in India to avoid tariffs.
NRIs struggle with new mutual fund KYC rules: 3 reasons making MF investments difficult for them now
Mutual fund KYC rules for NRI: The Securities and Exchange Board of India (Sebi) has implemented new Know-Your-Customer (KYC) rules from April 1, 2024. The new KYC rules are not only created problems for domestic mutual fund investors but also for Non-resident individuals as well. Here are three issues creating problems from NRI and OCI mutual fund investors.
Financial service stocks: Some hit by headwinds, for some tailwinds are back, only waiting for ___ to be back
All of a sudden yesterday, one stock which led the turnaround of the market was HDFC bank. There were two announcements, first regarding business and second regarding the shareholding changes in the last one quarter in which the stake of FII had come down. In normal cases a decline in FII holding is seen as negative but the reaction of the street was positive in this case. The reason was technical in nature because of buying which could emerge due to MSCI adjustment. But the fact is that every single stock in the financial services space has an element of high FII exposure and because they have been sellers for quite some time, these stocks have not performed as well when compared to other sectors. But as soon as they are back, which probably might be in the second half of the year, these stocks may be back in the limelight. But because each of the subsegments of the financial service space has its own operating matrix, analysts have a very different potential return estimate for each of them.
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MFs voice 'noes' loudly at governance shortfalls
Data from primeinfobase.com showed the percentage of votes opposing resolutions soared to a record high of 8.55% in FY24, a notable leap from 7% in FY23 and 4.62% in FY22. This substantial increase aligns their position more closely with the practices observed in developed markets, where institutional investors typically oppose 8-10% of resolutions proposed by companies.
Thousands of debtors resolving cases before admission under insolvency law: IBBI
The Insolvency and Bankruptcy Code (IBC), introduced in December 2016, provides for a time-bound and market-linked resolution of stressed assets. "The credible threat of the Code, that a CD may change hands, has changed the behaviour of debtors. Thousands of debtors are resolving distress in early stages of distress.
IBBI amends norms to streamline, ensure more transparency in insolvency resolution process
Regulator IBBI has amended corporate insolvency resolution process norms to increase transparency and accountability. Separate accounts, valuation methodology explanation, and separate resolution plans for real estate projects are now mandatory. Regular meetings and the option for a monitoring committee have also been introduced.
View: Paytm crisis shows RBI under Raghuram Rajan didn't think about orderly resolution. Who loses now?
The RBI’s unhappiness isn’t new. It stopped Paytm Payments Bank from onboarding fresh customers nearly two years ago. Last year, while imposing a fine of $650,000 on the bank, the regulator highlighted a number of violations, including failure to identify beneficial account owners and a video-based customer identification that allowed connections from IP addresses outside India.
Budget 2024: What stock investors, salaried employees expect from Nirmala Sitharaman
The Budget 2024 is anticipated for its potential impact on salaried employees. Expectations include reforms to boost market confidence, such as increasing foreign direct investment (FDI) and simplifying the process for Initial Public Offerings (IPOs).
Atal Setu: How the Trans Harbour Link will transform Mumbai
The Mumbai Trans Harbour Link (MTHL), or Atal Setu, as it'll be called now, links Sewri in Mumbai to Nhava-Sheva on the mainland in Mumbai Metropolitan Region, establishing faster connectivity between the island city of Mumbai and the Navi Mumbai on the mainland, and decongesting the perennially choked metropolis as well as opening new vistas of development.
Razorpay, Cashfree eye lost market share, ShareChat’s third round of layoffs
With the PA license in place, both Razorpay and Cashfree have set up "war rooms" with executives from across teams. The aim is to reach out to as many waitlisted merchants as possible and convert them into clients.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 15%
While one might be focussed what is happening in nifty and mid-cap space, if one looks at the recent performance of the large caps, there are a number of them which have done a catch up in just the last two weeks. When the valuation differential in mid and large caps stocks becomes extremely high, large caps tend to do well as mean reversion takes place. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
If India wants to grow, it has to get the WTO trade dispute system working
The WTO is mandated to solve global trade disputes. But what happens when its systems stop functioning?
Sebi postpones linking of SCORES with online dispute resolution platform to April
In September, the capital market regulator had issued a circular saying that market entities will need to apply for SCORES authentication and for Application Programming Interface (API) integration. SEBI has also pushed the deadline for applying for SCORES authentication to April 1, 2024, according to a circular issued on Friday.
These largecaps have ‘strong buy’ and ‘buy’ recos with upside potential of over 20%
As the market opens for trading after a holiday, the first hour of trading would go into adjusting with what happened in global markets. The short term movement aside, one needs to take into account that in the next few days movement of the broader market indices like Nifty and Sensex and also the market breadth would be determined by the outcome of the state elections.ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Russia-Ukraine & Israel-Hamas conflicts: A fallout on India is inevitable but tailor-made policy measures could limit the damage
A deft handling of these two situations has helped India stay neutral and even gain some dividends, but the harsh reality is that these two wars have aggravated global economic uncertainty. Their fallout on the Indian economy is inevitable even though some economists whom ET spoke to argue that tailor-made policy measures can limit the damage.
Nifty Financial Services index stocks: Will they lead the correction once again?
For all those, who are surprised the fact that all of sudden bank nifty or finnifty witnessed a sharp fall, it would worth remembering that whether it is upward or southward movement of Nifty and Sensex, it is largely led by financial services because of high ownership of institutional investor’s both domestic and foreign portfolio investors. So if there a sell of due to risk off mode for emerging markets, which market has moved to in last few days. It is financials which are likely to lead to the decline, but, there is equal sharp recovery in them. So, be careful both in buying and selling decision in financial space.
Resolutions under insolvency law likely to touch 300 this year: IBBI chief
The number of resolutions of stressed assets under the insolvency law is expected to reach 300 this year, according to Ravi Mital, Chairperson of the Insolvency and Bankruptcy Board of India (IBBI). Mital urged resolution professionals to expedite the cases. He also highlighted that creditors have recovered around Rs 3 lakh crore through the Insolvency and Bankruptcy Code (IBC) and emphasized that the IBC is a resolution mechanism, not a recovery mechanism.
Sebi provides clarity on online resolution of disputes framework
Providing clarity on initiation of the dispute resolution process, Sebi said that an investor will have to first take up his/her grievance with the market participant by lodging a complaint directly with the concerned market participant
Sebi to strengthen investor grievance handling mechanism
Sebi has decided to revamp its complaint redressal system in order to strengthen the investor grievance handling mechanism. Measures include linking the Sebi Complaint Redress System with the Online Dispute Resolution Mechanism and reducing timelines. Additionally, the board has approved amendments to regulations pertaining to Non-Convertible Debt Securities (NCDs), which will come into effect from January 1, 2024. Sebi hopes these measures will improve transparency and boost the corporate bond market.
Global companies and investors like India’s consistency in tax policy in recent years: David Linke, KPMG International
I believe that the GST has been a success. The recent budget has reported a significant increase in the number of taxpayers registering for GST. Before the GST, there were various sales taxes and other taxes, which were economically inefficient. Therefore, in terms of efficient taxes, the GST is incredibly efficient.
10 simple personal finance resolutions for 2023
Postpone the spending decisions. Resolve to take a month at least before spending a large sum on anything. You will be surprised how many of these spends will not seem as important as they first did.
Cumulative recovery rate under insolvency resolution falls to 30.18 pc in September quarter: Report
Of the Rs 7,90,626.2 crore claims from the financial creditors admitted by various benches of the National Company Law Tribunal (NCLT), only Rs 2,43,452.5 crore or 30.18 per cent have been recovered till the end of Q2 FY23, as per an analysis of IBBI data done by Care Ratings.
Decriminalise GST law, slash personal income tax rates in Budget: CII to govt
Industry body CII has pitched for a reduction in personal income tax rates, decriminalisation of the goods and services tax and a relook at the capital gains tax rates as part of its agenda presented to the government for the forthcoming Budget. Arguing that the GST law already contains adequate penal provisions for deterrence against evasion of taxes, CII has suggested decriminalisation of GST law.
ONDC to publish dispute resolution draft
Open Network for Digital Commerce will seek stakeholder feedback on framework in 2 weeks.
IBBI amends regulations to boost value of stressed companies
The Insolvency and Bankruptcy Board of India (IBBI) has amended the regulations with the "objective to maximise value in resolution" and they came into effect from September 16.
A day in the life of the Product Manager
“A great product manager has the brain of an engineer, the heart of a designer, and the speech of a diplomat”, said Deep Nishar, Vice President of Product at LinkedIn. Product management is an Intense role and having a planned day is critical. But, it does get difficult when the elements of ambiguity multiply as the experience grows. Having said that, each day comes packed in multiple areas ranging from strategy to tactics.
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