Stressed housing finance major Dewan Housing Finance Company (DHFL) has shared its resolution plan with bankers and company sources claim that the lenders are in sync with the plan. The plan will be formally presented to the banks later this week and to bondholders on July 25. In its resolution plan, the housing finance company has proposed that its debt be recast. The cash-strapped lender has a cumulative debt of Rs 1 lakh crore, of which it owes Rs 38,000 crore to banks and Rs 34,000 crore to bondholders.

In his last address to shareholders as Executive Chairman of Wipro, Azim Premji on Tuesday said the information technology (IT) services firm is focusing on four new-age technology areas such as digital, cloud, engineering services, and cybersecurity to drive its growth.

After more than five decades of chairmanship of the company, Premji will pass on the mantle to his son Rishad Premji at the end of July, though he will continue to serve on the board as non-executive director and founder chairman.

India’s insolvency tribunal has made a dangerous decision. Unless its judgment is quashed, credit costs for India Inc will surge, shares of state-run banks will swoon and foreign investors will flee.

The case concerns the country’s most high-profile bankruptcy, Essar Steel India Ltd. Insolvency judges recently ruled that creditors whose claims are backed by collateral won’t get preferential treatment in the $6 billion sale of the company’s plant to ArcelorMittal.

The government may not have extended support to now-defunct Jet Airways, but it has promised to facilitate employment to job-less airline staff.

The Civil Aviation Ministry is in touch with other private airlines such as SpiceJet and IndiGo to assist Jet staff get meaningful employment.

Defence Secretary nominee Mark T Esper has told lawmakers that he wants to solidify the enduring strategic partnership with India.

"If confirmed, my overall guiding objective for our relationship with India would be to solidify an enduring strategic partnership underpinned by strong defence cooperation with an Indian military able to collaborate effectively with the United States to address shared interests," Esper told members of the Senate Armed Services Committee on Tuesday.

BSNL has rolled out a Rs 96 prepaid recharge plan which offers 100 SMS messages per day and unlimited voice calls for 21 days, reported Telecom Talk. Named the Vasantam Gold – PV 96, BSNL prepaid plan under Rs 100 is valid for 180 days, however the benefits last for just 21 days.

The new Rs 96 prepaid plan by the Bharat Sanchar Nigam Limited has been made available under a promotional period of 90 days and came into effect on July 5.

Google India and Tata Trusts Tuesday said their Internet Saathi initiative, that aims to facilitate digital literacy among women in rural India, will be expanded to villages in Punjab and Odisha. Launched in July 2015, the Internet Saathi programme has so far, trained 70,000 ‘Internet Saathis’, who have in turn impacted 2.6 crore million women in the country.

Markets regulator Sebi levied a fine of Rs 5 lakh on GKS Properties for executing non-genuine trades in the illiquid stock options segment at BSE. The ruling follows an investigation conducted by Sebi in the stock options segment of the bourse between April 2014 and September 2015. During investigation, Sebi noted that 81.38 per cent of all trades executed in the segment at BSE were the ones which involved reversal of buy and sell positions by the clients and counterparties in a contract on the same day, thereby creating artificial volume in the stock options segment.

Shares of India’s major private sector lender Yes Bank surged on Tuesday after media reports indicated that four PE firms have shown interest to pick up a stake in the bank. Yes Bank shares jumped more than 10.8% to hit the day’s high at Rs 103.35. “US-based private equity investor made an offer to acquire worth $850 million stake in the bank, the term sheet offer for which was made over the weekend,” The Economic Times said in a report, citing sources as saying.

Mindtree’s new promoter Larsen and Toubro (L&T) Tuesday assured shareholders that it will provide further impetus to the IT firm’s growth by providing board-level oversight and relevant client connects. Earlier this month, L&T became the new promoter of Mindtree after acquiring 60.06 per cent stake in the Bengaluru-based company.

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