Insolvency ruling: CoC cannot alter approved resolution plan or reallocate dissenting creditors’ funds, says NCLAT

[ad_1] The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings…

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Coal policy change: Govt eases approval process for opening coal, lignite mines; boards get more authority

[ad_1] The government has amended rules to streamline approvals for opening coal and lignite mines, a move aimed at cutting procedural delays and speeding up mine operationalisation while retaining regulatory oversight, PTI reported .Under the earlier framework, Rule 9 of the Colliery Control Rules, 2004 required mine owners to obtain prior approval from the Coal…

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Coforge-Encora deal: IT firm to acquire AI player Encora for $2.35 bn; PE investors to hold one-fifth stake

[ad_1] IT services firm Coforge on Friday announced the acquisition of Silicon Valley-based AI firm Encora in an all-stock deal valued at $2.35 billion (about Rs 21,133 crore), marking one of the largest overseas acquisitions by an Indian mid-tier IT company, PTI reported.The acquisition will be funded entirely through equity, with Coforge issuing preferential shares…

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Mobility infra shift: RRTS can reshape urban travel and spur decentralised growth; Knight Frank flags investment, housing opportunities

[ad_1] The Regional Rapid Transit System (RRTS) has the potential to fundamentally change urban mobility patterns while acting as a catalyst for decentralised economic growth along transit corridors, real estate consultant Knight Frank said in a new report, PTI reported.According to a Knight Frank India study released on Friday, titled ‘Regional Rapid Transit System: Testing…

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New BIS standard for incense sticks: Govt bans certain substances; flags ‘potential impact on human health’

[ad_1] NEW DELHI: The government issued a notification announcing a new Indian Standard for incense sticks (agarbatti), laying down quality norms and specifying a list of substances prohibited for use in their manufacture.The standard has been developed by the Bureau of Indian Standards (BIS) to ensure safer products and promote responsible and sustainable practices in…

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