Topworth Group – Banks approach courts to recover debt

MUMBAI/KOLKATA: Additions to India’s bloated bad-loans inventory are unlikely to cease soon, with about a dozen lenders now approaching debt-recovery courts to recover a part of their estimated credit exposure of Rs 17,300 crore to Mumbai-based Topworth. Lenders led by the State Bank of India (SBI) and Punjab National Bank (PNBBSE -2.80 %) are filing […]

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Before he was moved out, Finance Secy wrote: Revenue dept helping scam-accused Jignesh Shah

Rajiv Mehrishi sent note to Jaitley on ‘blatant attempt’ to help Shah ‘at cost of investors he cheated’. In a scathing note to Union Finance Minister Arun Jaitley, four days before he demitted office as Finance Secretary, Rajiv Mehrishi, who is now Home Secretary, said the Department of Revenue had launched a “blatant attempt” to […]

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Infosys Q4 net profit at Rs 3,597 crore, beats estimates for fourth straight quarter

Indian IT major Infosys has reported its fourth-quarter result today. The company’s net profit during the quarter jumped 3.8% quarter-on-quarter to Rs 3,597. The giant’s profit beat estimates for the fourth straight quarter. Infosys Q4 revenues stood at Rs 16,550 crore against estimates of Rs 16,460 crore. The country’s second-largest IT company’s consolidated profit went […]

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