Wednesday, September 02
The government has set up a committee to examine key provisions under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, or SARFAESI Act. The committee will have senior bankers and will examine this and other suggestions to further strengthen the recovery law, said people familiar with the developments.The Supreme Court in September ruled that the borrower's right of redemption under Section 13(8) of the Act stands extinguished once the secured creditor issues a valid notice of sale (publication).The court in the case M. Rajendran vs M/S Kpk Oils And Proteins India Pvt Ltd had further observed that the 30-day wait between publication and sale is the anomaly and asked the government to review it. "We are examining the suggestions made b
Apple is set to open a new official store in Noida on December 11, its fifth in India as it expands its fast-growing retail footprint in the country amidst record sales every quarter.This is Apple's second official store in Delhi NCR after it opened a store in Saket, New Delhi in 2023, and the third this year. The company is on a spree of opening new stores, with new stores opening in Bengaluru and Pune earlier this year.The Apple Noida store will open its doors on December 11, from 1PM. The store currently has a Pecock-themed barricade ahead of its opening. "At Apple Noida, customers can explore Apple's latest product lineup including the iPhone 17 and the M5-powered iPad Pro and Macbook Pro 14", experience new features, and receive expert support from Specialists, Creatives, Geniuses, an
Shares of Thyrocare Technologies witnessed a steep decline of 66.7% in Friday's early trade to the day’s low of Rs 492, from their closing price of Rs 1,473.90 on Thursday, as the stock began trading ex-bonus following the company's recently announced 2:1 bonus issue.The sudden fall in share price, while appearing alarming at first glance, is a standard market reaction to the stock turning ex-bonus and does not reflect any change in the company’s fundamentals or investor sentiment.The correction in price comes in the wake of the company’s decision to issue two bonus equity shares for every one existing share of face value Rs 10, fully paid-up. The bonus shares have been issued in the ratio of 2:1, effectively tripling the number of outstanding shares in the market.This move was recom
Vidya Wires, a Gujarat-based manufacturer of winding and conductivity products, is gearing up for its Rs 300-crore initial public offering (IPO), with the issue set to open for public subscription on Wednesday, December 3. The company has fixed a price band of Rs 48 to Rs 52 per equity share of face value Rs 1 each.This marks the third IPO hitting the mainboard on the same day, following closely on the heels of offerings from e-commerce platform Meesho and aerospace components maker Aequs.The anchor investor bidding window will open a day earlier on Tuesday, December 2.Vidya Wires IPO detailsVidya Wires plans to raise Rs 300 crore through a combination of fresh equity shares worth Rs 274 crore and an offer-for-sale (OFS) component of Rs 26 crore, where promoter shareholders Shyamsundar Rat
