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MUMBAI: Vodafone Idea Ltd.’s gamble seeking more time to pay the $4 billion it owes the Indian government failed in the nation’s top court, leaving the distressed mobile carrier with few options as it weighs its future.
HONG KONG (Bloomberg): Indian tycoon owners of bankrupt companies are being told their assets aren’t off limits.
NEW DELHI: Vodafone Group Plc’s India venture plunged by a record on prospects of having to pay the government $4 billion in back-fees as early as next week, highlighting concerns over the future of the beleaguered mobile carrier.
MUMBAI: For many Indian tycoons, 2019 turned woeful as lenders -- empowered by the nation’s recent bankruptcy law and desperate to clean up soured debt from their books -- started seizing assets of delinquent firms or dragged them into insolvency.
NEW DELHI: India’s top court ordered several telecom carriers, including Bharti Airtel Ltd., Vodafone Idea Ltd. and many defunct ones, to pay the government as much as 920 billion rupees ($13 billion) in past dues, dealing a blow to the businesses already struggling to make profits and pare debt.
MUMBAI: Reliance Capital Ltd’s downgrade to default grade at Care Ratings Ltd places the debt of embattled tycoon Anil Ambani’s conglomerate at risk, reigniting India’s credit scare.
MUMBAI: The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’ approval for restructuring 70 billion rupees (US$970mil) of debt, people familiar with the matter said.MUMBAI: The shipyard controlled by embattled Indian tycoon Anil Ambani is facing the prospect of bankruptcy after failing to get creditors’ approval for restructuring 70 billion rupees (US$970mil) of debt, people familiar with the matter said.
MUMBAI: Indian tycoon Anil Ambani plans to raise about 217 billion rupees (US$3.2bil) by selling assets from roads to radio stations in a bid to cut debt.