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Subscribe to enjoy similar stories. Bankruptcy resolution professionals who shepherd broke companies to their new homes are increasingly under fire from lenders, at a time of shifting landscape in India's insolvency resolution. Over the last two years, a number of RPs have found themselves in the dock, on charges varying from wrongful classification of creditors and collusion with previous managements, to mismanagement of daily affairs.

REC Ltd on Saturday said it has raised USD 500 million through green dollar bonds to support various renewable energy projects. The 5-year note has a coupon rate of 4.75 per cent per annum to be paid semi-annually and the maturity date of September 27, 2029. This is the first US dollar bond issuance from an Indian public sector enterprise in 2024, REC said in a statement. The latest fund raise was part of USD 10 billion global medium-term programme of the company. The proceeds will be used to finance eligible green projects, in accordance with REC's Green Finance Framework as per green bond principles of Climate Bond Initiative, London and RBI's ECB guidelines, with a second-party opinion from Sustainable Fitch, it said.

Union Health Ministry. The guidelines laid out four conditions on passive euthanasia for taking a «considered decision in a patient's best interests, to stop or discontinue ongoing life support in a terminally ill disease that is no longer likely to benefit the patient or is likely to harm in terms of causing suffering and loss of dignity.» The conditions are whether the individual has been declared brainstem death, if there is a medical prognostication and considered opinion that the patient's disease condition is advanced and not likely to benefit from aggressive therapeutic interventions, patient/surrogate documented informed refusal, following prognostic awareness, to continue life support and compliance with procedure prescribed by the Supreme Court. The 'Draft Guidelines for Withdrawal of Life Support in Terminally Ill Patients,' also state that doctors should take a considered decision to not start a life supporting measure in a terminally ill patient that is unlikely to benefit the patient and is likely to lead to suffering and loss of dignity.

Chinese vendors from the supply chains of all forms of surveillance equipment in the aftermath of the recent coordinated pager explosions in Lebanon, multiple sources aware of the development told ET. The move is set to benefit local companies. «In light of the pager explosions, critical sourcing of certain components or parts of the supply chain will be looked at in a big way by the government,» one top industry source cited above told ET. «The government's policy on surveillance cameras is likely to come into effect on October 8. Once it comes out, all the Chinese players will be out of the picture, and Indian companies are likely to gain.» While the gazette notifications came out in March and April this year, sources said the government has accelerated its implementation and sharpened its focus on security after the Lebanon explosions. The government is set to fast-track the implementation of guidelines on CCTV cameras, which will allow players from «trusted locations» to sell in India.

Former Binance CEO Changpeng “CZ” Zhao was released from prison on Friday after serving 118 days of his four-month sentence.

Ministry of Finance has recently announced an update to the National Savings Scheme (NSS) through a new notification dated August 29, 2024. This update explains modifications made to the National Savings Scheme Rules 1987 and 1992. Here is what the circular says, Following six categories have been identified. Relevant guidelines (1). Irregular NSS accounts: These have been assessed to be of the following types. (a). Two NSS-87 accounts opened prior to DG Posts' Order. No. 35- 19/9GSB- lll dated 02.04.1990: (i). The earliest first opened account will get prevailing scheme rate. (ii). The second account (opened after the first account) will get prevailing POSA rate plus 200 bps on the outstanding balance. (iii). Points (i) and (ii) will be subject to the following conditions: (a). Cumulative deposits in both the accounts put together should not exceed the applicable deposit limits for each year. (b). Excess deposits (if any) shall be refunded to the investor without any interest. (iv). Points (i) to (iii) are in the nature of one-time special dispensation allowed to investors of NSS-87 till 30 September 2024 from the date of OM dated 12th July 2024 issued by Ministry of Finance. (v). From 1 Oct 2024 onwards, both the accounts will earn zero percent rate of interest. (b). Two NSS-87 accounts opened atter DG Posts' Order. No, 35- 19/90-SB-lll dated 02.04.1 990: (i). rate. The earliest first opened account will get the prevailing scheme (ii). The second account (opened after the first account) will get prevailing POSA rate on the outstanding balance, (iii). Points (i) and (ii) are subject to the following conditions: (a). Cumulative deposits in both accounts together should not exceed the applicable deposit limit for each

Real estate is a key puzzle piece in achieving the U.S.' climate goals, according to federal officials.

ACC) secretariat has expressed concerns about ministries altering the established criteria for appointing directors and heads of Central public sector undertakings, reported TOI. In a memo sent to all ministries last week, the secretariat emphasised that the authority to relax norms related to age, educational qualifications, and eligibility criteria lies solely with the ACC. It noted that even guidelines regarding the composition of search-cum-selection committees are not being followed. “The authority to relax any norm related to age, education qualifications, eligibility criteria etc. rests with ACC,” said the memo.

prolonged sitting. The findings are based on a meta-analysis of nine studies involving thousands of participants, highlighting the importance of regular physical activity to mitigate health risks associated with sedentary behavior.

Subscribe to enjoy similar stories. Every year, countless Indians find themselves entangled in the complexities of third-party motor insurance claims. Unfortunately, the current system relies heavily on the judicial process for settlement and cases often drag on for at least four years on average before they are resolved in a Motor Accident Claims Tribunal (MACT).

Qualcomm lost its bid on Wednesday to get a European Union antitrust penalty thrown out after a top court largely rebuffed the technology company's arguments in the case involving cellphone chipsets. The European Union's General Court said it was rejecting most of Qualcomm's appeal against the 242 million euro ($269 million) fine that the bloc's regulators issued in 2019, accusing the company of "predatory pricing" to drive a competitor out of the market. The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, said five years ago that Qualcomm abused its market dominance in 3G baseband chipsets, selling them below the cost of production to force startup Icera out of the market a decade prior.

Tamil Nadu is set to introduce new regulations for online gaming, which may include daily time and cash limits. The Tamil Nadu Online Gaming Authority, established last year, has recommended that online gaming be banned between midnight and 5 a.m., with a daily play limit of four hours and each session restricted to two hours.

PM-WANI framework guidelines will encourage more individuals to run Wi-Fi hotspots within their local community, thus creating lakhs of micro-entrepreneurs in India, Broadband India Forum (BIF) said Tuesday. BIF, which represents technology firms like Meta, Google, Amazon, TCS etc, also refuted the arguments given by telcos that PM-WANI was redundant, and it can cause revenue loss. “If India were to establish 50 million PM-WANI hotspots, as targeted, telcos could gain an additional Rs 60,000 crore in revenue annually from bandwidth sales in addition to the benefit they will get by having more broadband users, which they might not reach otherwise,” BIF said in a statement. The Department of Telecommunications (DoT) has amended the guidelines for the Prime Minister Wi-Fi Access Network Interface (PM-WANI) allowing roaming between public data office aggregator (PDOA), removing the need for a commercial agreement between a telco and PDO, allowing the PDOs or public data office to use the existing access points for public and private use. Also, the PDOs have been permitted to accept mobile data offload from the telcos, thereby helping ease the congestion on the mobile network.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Kerala government has denied reports circulating in the media regarding the funds spent in connection with the Wayanad disaster, calling it factually incorrect, per an official release from Kerala CMO. The release said that the state government had submitted a memorandum to the central government seeking immediate additional assistance for the disaster. Preliminary estimates of the necessary expenses for various aspects were clearly stated in the memorandum. However, these estimates are now being misrepresented in the media as actual expenditure in the disaster-affected areas, which is untrue, the release added. The figures in the memorandum, prepared according to the guidelines of the National Disaster Response Fund (NDRF), have been misinterpreted, which undermines the state government's efforts to secure central assistance for the Wayanad landslide disaster, the release said.

Gujarat coast using viability gap funding (VGF). The Union Cabinet had in June approved a VGF scheme for 1,000 MW offshore wind projects in Gujarat and Tamil Nadu. Proposed guidelines for the tender, which were issued last week, state that the successful bidder or bidders will get to sign a power purchase agreement at a fixed tariff of ₹4.5 per unit for Gujarat.

Subscribe to enjoy similar stories. It’s a scenario that has played out at companies for decades: Two colleagues meet. A romance blossoms.

HDFC Bank has adopted risk assessment practices based on Environmental, Social and Governance (ESG) frameworks for wholesale banking loans as the country’s largest private lender looks to step up sustainable finance efforts and drive responsible lending, a top executive said. “We have adopted in our wholesale bank a risk assessment of our customers in terms of where do they stack up for their environment compliances. And that becomes a criteria of evaluation as we examine each proposal,” Kaizad Bharucha, Deputy Managing Director, HDFC Bank, told reporters at an event organised by the lender in Varanasi. According to official disclosures by the lender, loans in excess of Rs 100 crore are subject to HDFC Bank’s ESG Risk Management Framework for Lending, wherein a detailed E&S (environmental and social) assessment is undertaken. In particular, wholesale borrowers with a direct customer risk greater than Rs 100 crore across facilities are subject to a detailed E&S due diligence assessment while exposures up to Rs 50 crore are subject to an abridged E&S due diligence.

Reserve Bank of India (RBI) has said there will be no trading in government securities, foreign exchange markets, money markets and rupee interest rate derivatives on September 18, 2024 as the government of Maharashtra has declared the day as a public holiday. The state government declared September 18, 2024 as a public holiday under Section 25 of the Negotiable Instruments Act, of 1881. In a press release dated September 14, 2024, RBI says, «The public holiday on September 16, 2024, declared earlier has been cancelled,» says RBI. «Accordingly, there will be no transactions and settlements in Government securities, foreign exchange, money markets and rupee interest rate derivatives on September 18, 2024. Settlement of all outstanding transactions due on September 18, 2024 (Wednesday) will get postponed to the next working day, i.e., September 19, 2024 (Thursday).» «The Government securities market, foreign exchange market, money market and rupee interest rate derivatives market will now be operational on September 16, 2024 (Monday). The settlement of secondary market transactions in Government securities, foreign exchange market, money market and rupee interest rate derivatives market which are due on September 17, 2024, will continue to be on the same day, i.e., September 17, 2024 (Tuesday),» the central bank adds.

Mirwaiz Umar Farooq on Friday accused the Jammu and Kashmir police of violating the Election Commission of India guidelines by summoning, harassing and making youngsters sign surety bonds ahead of the assembly election. He said «tens of dozens of people» from across towns, villages and Srinagar city are being asked to report to the police stations.

The National Transportation Safety Board says California firefighters had to douse a flaming battery in a Tesla Semi with about 50,000 gallons of water to put out flames after a crash