The National Highway Authority of India can buy the rights from IL&FS under the "concession agreement" clause as part of the road projects built by it under public-private partnership model (PPP), IL&FS insiders said.
Will Modi's bank merger yield result? Or will it wreck the bigger, better bank? Your guess is as good as ours.
This is the first time the Bangladeshi-Dutch promoter has injected capital into its India subsidiary after setting it up in 2008.
The group has lined up plans to sell as many as 24 projects to raise around Rs 30,000 crore.
With the currency still under pressure and crude oil prices crossing $80, the rate increase cycle is far from over.
Bank management told them that promoters may also sell their holdings directly in the secondary market if inorganic route does not work out fast
Svatantra Microfin has Rs 652 crore portfolio at the end of June while Mumbai-based MHFC has a portfolio of close to Rs 500 crore.
The Indian currency has declined more than 12 per cent against the dollar this year.
RBI requires Suryoday to lock in promoters’ contribution at 26% for five years from January 2017.
RBI told banks to share a maximum 80% credit risk when they originate priority sector loans jointly with NBFCs.
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