Standard Chartered Bank

Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group. Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL. "Since the Borrower has defaulted in its debt repayment obligations to the Bank, the Company has entered into a one-time settlement agreement with the Bank in respect of DSRA Claims/Undertaking in the interest of amicably resolving the issues between the parties," said ZEEL in a regulatory filing on Thursday. Though the company, which is merging with rival Culver Max Entertainment Pvt Ltd, formerly known as Sony Pictures Networks India, has not mentioned the amount. Siti Networks, formerly known as Wire and Wireless Ltd, is a multisystem operator promoted by media baron Subhash Chandra-led Essel Group. Earlier this wee

Mining mogul Anil Agarwal-led Vedanta Resources Ltd (VRL) has repaid USD 250 million in loans that the company took from Barclays Bank and Standard Chartered Bank, according to regulatory filings. The company had earlier said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. VRL, the majority owner of Mumbai-listed mining and oil & gas company Vedanta Ltd, repaid USD 150 million borrowed from Barclays Bank. "The earlier disclosure was made pursuant to facility agreement dated June 16, 2022...between Twin Star Holdings (borrower), VRL and Welter Trading Ltd (as original guarantors), Deutsche Bank AG acting through its Singapore Branch, and Barclays Bank PLC (as original lender), for the purposes of availing facility of an aggregate amount of USD 150,000,000 by the borrower from the original lender," the company said in a filing to BSE. However, the said facility has been repaid and

Recently, Vedanta said that it has prepaid all its debt that was due for repayment till March 2023

Suzuki Motorcycle India on Wednesday said it has joined hands with Standard Chartered Bank to provide wholesale funding to its dealer partners for vehicles and spare parts. The initiative will support the company's dealer partners across the country and enable them to expand their businesses and operations, the two-wheeler maker said in a statement. "As a responsible company, we are committed to support our dealer partners so that they can meet their financial requirements. This programme is a testament to our commitment, and we look forward to a successful partnership with Standard Chartered Bank," Suzuki Motorcycle India Executive Vice President, Sales, Marketing and After Sales Devashish Handa noted. Standard Chartered Bank Regional Head Global Subsidiaries, India and South Asia, Corporate, Commercial and Institutional Banking Chandandeep Kaur said the bank is committed to support businesses in India by providing them with the necessary financial tools and developing customised .

Of all the debt the Adani Group has, over half is foreign debt in the form of overseas bonds and loans taken from foreign banks, and a fourth is from domestic banks

The foreign bank expects current account balance to slip into a deficit of 3% of gross domestic product this financial year from a surplus of 0.9% last year

Adani currently holds 63.15 per cent stake in Ambuja Cement and 56.69 per cent in ACC

US-based company is looking to invest in India and is building a new management team in the country

The All India Bank Officers' Confederation (AIBOC) has alleged violation of HR practices by foreign lender Standard Chartered Bank and submitted a detailed memorandum requesting the bank's CEO for immediate remedial measures. The union also alleged that the bank is delaying in recognising Association of Standard Chartered Bank Officers (Kolkata) ASCBO despite several reminders. The right to form association/union is a fundamental right enshrined under Article 19 (1) (C) of the Constitution of India, and any attempt to disavow and thwart the fundamental rights of members of ASCBO will not be condoned by AIBOC, the memorandum said. "The obsolete pay scales and the unsettled service conditions beckons for an overhaul...it is imperative to approve fair and appropriate service conditions for the officers, in consonance with the industrial norms and practices," it said. AIBOC general secretary Soumya Datta urged the management of Standard Chartered Bank to initiate dialogue with the ASCB

Standard Chartered Bank (Singapore) Ltd offloaded 1.38 crore shares of CG Power and Industrial Solutions shares for Rs 298 crore on Wednesday through an open market transaction. According to block deal data available with BSE, Standard Chartered Bank (Singapore) Ltd sold 1,38,45,000 shares in six tranches, amounting to a 0.91 per cent stake in the company. The shares were disposed of at an average price of Rs 215 apiece, taking the transaction value to Rs 297.66 crore. Meanwhile, Societe Generale, DSP Mutual Fund and HDFC Life Insurance company Ltd picked up the shares of the company. Shares of CG Power and Industrial Solutions closed 1.65 per cent higher at Rs 219.25 on BSE.

The appointment is for three years for a position vacant since November 2021

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.

While the term loan and bonds aggregate to USD 350 million, about Rs 2,787 crore, the company is raising another tranche of USD 50 million (about Rs 400 crore) for capital expenditure.

'As India emerges from the pandemic, and with the robust rebound in gross domestic product, we are seeing Corporate India using this period to deleverage'

Standard Chartered Bank has settled with markets regulator Sebi a case pertaining to alleged violations of norms in the matter of CG Power and Industrial Solutions Ltd after paying Rs 4.97 crore

On a combined basis, this would be among the largest open offers in the history of India's capital markets

The group has option to raise another $200 million under the existing facility

The capital raise comes in the backdrop of recovery in domestic air traffic and resum­ption of scheduled internatio­nal services from March-end

It is also expected to help in softening the blow from hardening bond yields, bankers and analysts said

The bank said the improved outlook led it to raise its target of delivering a return on tangible equity of at least 7% by 2023, with its longer-term goal being a double-digit return