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SC flags 'deep-rooted nexus' between banks, ARCs, borrowers over loans
Flagging a deep-rooted nexus between banks, asset reconstruction companies and borrowers, the Supreme Court on Friday said that taxpayers' money being given as loans and then no effective efforts were taken to recover the amount was not acceptable. A bench of Chief Justice Surya Kant and Justice V Mohana said it was only concerned about the misutilisation of public money, which should have been spent for the welfare of people. The top court issued notice to the Centre, the Reserve Bank of India (RBI) and others seeking their responses on a plea which alleged that a debt of Rs 1,537 crore owed to public sector banks was settled through two asset reconstruction companies (ARCs) for a mere Rs 73.50 crore. During the hearing, the bench raised concerns over the manner in which stressed loans were being settled. "This is a deep-rooted nexus between the borrowers, ARCs and banks," the bench said. The top court observed that it was aware of the limitation in entering into the arena of ...
ICICI Prudential Mutual Fund trims stake to 7.12% in Kalpataru Projects International
ICICI Prudential Mutual Fund has decreased its stake in Kalpataru Projects International Ltd below 8% through open market transactions, selling 1,498,354 shares since December 2021.
Beyond the hype: 5 under-the-radar stocks common across India's 3 largest smallcap portfolios
India's top three smallcap mutual funds, managing over Rs 1.5 lakh crore, show strong consensus by holding five under-the-radar stocks across their portfolios. These include Kalpataru Projects International, KIMS, City Union Bank, PVR Inox, and Carborundum Universal, collectively representing 5.34% of their combined assets.
Vodafone Idea, MRPL, YES Bank, Eternal— These are among the top most traded stocks on the NSE today
Vodafone Idea, Tata Silver Exchange Traded Fund, Mangalore Refinery and Petrochemicals (MRPL), YES Bank, Eternal, ITI, Dharan Infra-EPC, and Adani Power were among the most traded stocks, or most active stocks in terms of volume, on the NSE.