In February 2021, the NSE had directed the lender not to invoke the pledge of the securities till the ownership of the pledged securities were ascertained in the demat account of Arcadia Share and Stock Brokers. Thereafter, Central Depository Services (India) Ltd imposed a debit freeze, prohibiting the lender from invoking the pledged shares and recovering its dues.
The loan would be used to refinance high-cost funds raised by the steelmaker from Ares SSG-backed Assets Care and Reconstruction Enterprise (ACRE), an asset reconstruction company. Publicly listed Jayaswal Neco has proposed to raise ₹3,250 crore through non-convertible debentures for a term of 3.5 years at a coupon rate of 18-20%, the people cited above said
Zurich Insurance is set to invest approximately Rs 4,051 crore for a 51% stake in Kotak General Insurance, in an agreement involving fresh capital and share purchase. Zurich also has the option to acquire an additional 19% stake within three years.
On average, India s third-biggest private lender by market value receives 5-6,000 credit card applications a day. But a pre-sales offer tied to Sheeran s March 16 show in Mumbai s Mahalakshmi Race Course caused that number to surge to 30,000 a day.