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Home Buyers to be Treated as Financial Creditors et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 11, 2018 10:57 AM 1 min read
Editorial

End of Day Wrap-up (Saturday / Aug 11, 2018) #India #IIP #May #SBI #JetAirways #aluminium #steel #DoT #IBC #NCLAT #Turkey #Turkish #Lira #US #INR #Transfin

Editor's Comment: India's Industrial production expands to 5 month high in June with IIP at 7% vs. 3.9% in May. All major sectors i.e. manufacturing, mining, and electricity contribute to recovery. Economists wary whether data represents a trend.

 

SBI puts Jet Airways on watch list after company defers Q1 results. SEBI investigates delay. Markets regulator concerned whether the company breached any disclosure or corporate governance norms.

 

DoT discussing proposal to auction spectrum on an annual basis at a predetermined time. Move would change the current adhoc nature of spectrum auctions when they happen after a gap of few years and often too close to each other.

 

Insolvency and Bankruptcy Code 2016 amended to allow home buyers to be treated as financial creditors. Amendment seeks setup of a special dispensation for small sector enterprises.

 

NCLAT rules in favour of Vedanta's eligibility to acquire Electrosteel Steels. Lawyer for appellant Renaissance Steel says they would move to Supreme Court against the NCLAT's decision.

 

Turkish crisis shakes global markets by end of week. US doubles aluminium and steel tariffs against Turkey to negate Turkish exports to becomes cheaper thanks to a much weakened Lira.