The Enforcement Directorate on Tuesday arrested Anil Khandelwal, the chief financial officer of the travel company Cox & Kings in connection with the Yes Bank scam. the probe agency has also arrested the company’s internal auditor Naresh Jain. The two have been arrested under section 19 of the Prevention of Money Laundering Act. The Cox … Read more
(This story originally appeared in on Sep 04, 2020) MUMBAI: The government has asked banks to obtain board approval for restructuring of corporate loans by September 15 after the K V Kamath-led committee submits its report in the first week. This was communicated to bank chiefs in their review meeting with finance minister Nirmala Sitharaman. … Read more
Mumbai: Four years after it was first suggested, the proposal of a reverse merger between IDFC First Bank and IDFC Ltd has been revived, two top industry sources told ET. This will involve the holding company being absorbed by the bank, which will seek regulatory approval for such a move on the grounds that it … Read more