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In its petition, IIFL said ACRE arbitrarily suspended and eventually terminated recovery operations, disrupting momentum and continuing to levy fees in violation of RBI guidelines. The finance firm also said ACRE misused trust funds to cover its legal expenses in arbitration proceedings-costs that were explicitly disallowed under the transaction documents.
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News and Media
At least half a dozen large private and MNC banks, following a rigid interpretation of the law, have told such offshore investors that they can hold less than 10% in listed companies only after registering themselves as foreign portfolio investors (FPI) with the Securities & Exchange Board of India (Sebi).
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News and Media
The South American country is turning to wind power, but some local people are unhappy.
Category:
News and Media
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