FIC WEEKLY

Recently, a reconstruction scheme for Yes Bank has been notified by the Indian Government. This shall result in speedy handover of operations to the lenders. This comes at a point of time when Yes Bank is under RBI's moratorium due to which withdrawals are restricted. The moratorium is expected to be lifted within 3 days of the issue of notification.                                     By Sirjan Kaur | 5 min read

Think AGR should only include revenues earned from telecom services. In 2015, the definition of AGR was changed, to include all revenue except capital receipts and revenue from non-core sources. Non-core sources are things like rent, profit on sales of assets, interest and other incomes. And now, in 2019, the Supreme Court ruled that AGR should include all revenues for which the telecom sector should start looking for money which is no fun because the Telecom Sector is already into a debt of more than INR 7 lakh crore and that is what is affecting the authorities. BY NANKIE BAWA | 5 MIN READ

In this news article we will be talking about Anil Ambani’s resignation from RCom after its bankruptcy and heavy losses and Jaypee infratech’s   insolvency after non-payment of IDBI bank’s 526 crore loan. BY SAHIL DESAI                                                                                                                  3 Mins Read

ArcelorMittal India Private Limited’s (AMIPL) resolution plan for Essar Steel India Limited (ESIL) has been unconditionally approved by the Indian Supreme Court. After completion, ArcelorMittal will jointly own and operate ESIL in partnership with Nippon Steel Corporation (Nippon Steel), Japan’s largest steel producer and the third largest steel producer in the world, in-line with the joint venture formation agreement signed by the two companies.

The price wars in the Indian telecom market have pushed the value of Vodafone's Indian joint venture to zero as Vodafone CEO Nick Read indicates that the Indian operations will be headed for liquidation unless the government provides some relief on the spectrum fees. Vodafone, has written off the book value of the Indian business. BY KASHISH SINGLA | 3 min read Nick Read(CEO of Vodafone) said that he won’t infuse any further equity into Vodafone Idea Ltd (VIL) and therefore reducing the carrying value of its joint venture with the Aditya Birla Group to nil after the Supreme Court ruling on adjusted gross revenue (AGR). According to the latest financial records, the book value of Vodafone's 45 percent stake in the joint venture,  Vodafone Idea, has jumped   to nil   in November 2019. They however had a book value of   more than EUR 2 billion (roughly Rs. 15,800 crores) in June 2018. Most of the bad news came from India which included decrease in c...

At a time when automobile giants are pulling back on investments from India, Chinese car makers may prove to be the savior for the Indian automobile industry. At Least 6 companies are speculated to bring $5 billion into the industry. BY HARSHIT GUPTA | 3 min read Amidst a severe slowdown in the market, China’s largest SUV maker, Great Wall Motors, has registered an Indian subsidiary "Haval Motor India". Established in 1984, Great Wall initially manufactured only trucks, not producing a sedan car until 2010. Great Wall Motors has been a very successful producer of pick-up trucks, reaching top position in the Chinese pick-up truck market in 1998. The company is planning to invest approximately ₹7,000 Crores into the market. Great Wall Motors is forming a subsidiary in India in order to pay less tax, and direct the assets towards research and development. This move comes despite the Indian automobile   market being in a slump. The company will set its headq...

By 2020, $24 billion will be available for healthcare tech spend and it will lead to the formation of a more competitive market. With Google's purchase of the pioneer of this industry, there will be several implications affecting the companies as well as the consumers. BY HARSHIT GUPTA |  2 min read G oogle has entered the fitness tracker business by acquiring Fitbit, the wearable tech company, for $2.1 billion. This news came after days of rumours and reports. After the announcement on last friday, the shares of Fitbit surged a massive 17%. Fitbit has been a great product with unique look and trusted hardware. It has excelled in battery life, heart rate tracker, sleep monitor and other health tech components. It is greatly admired and hugely popular but also has great competitors as the wearables market is highly competitive. Apple watch dominates the higher strata of the market whereas Xiaomi has been undercutting Fitbit's trackers. On the other hand, Goog...