Top Headlines: Hurdles in recruitment plan, India Inc's capital expenditure

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There would be two key challenges to achieve the goal of recruiting one million within less than two years in the central government that PM Modi announced on Tuesday. A wind power project awarded to Adani Enterprises in March has become a bone of contention between ruling and opposition parties in Sri Lanka. Read more on these in our top headlines. 

Two hurdles likely as Modi govt sets out on 1 million recruitment plan

There would be two key challenges to achieve the goal of recruiting one million within less than two years in the central government that Prime Minister Narendra Modi announced on Tuesday. This is even though by all reckoning India employs less people, compared to global peers, in the number of people posted in key departments. Read more
 

India Inc's capital expenditure slows despite jump in net profits

The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies’ investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms’ combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent — the fastest pace in over a decade. Read more 
 

5 years of IBC: Loans taken for telecom, oil assets sank Videocon

Videocon Industries (VIL) - once India’s biggest consumer electronics company - was sent to the bankruptcy courts in June 2018 by State Bank of India (SBI). This was after the consumer electronics-to-oil production company failed to repay debt and banks made claims of Rs 64,637 crore from the company, according to the National Company Law Appellate Tribunal (NCLAT) order in January this year. Read more
 

5 years of IBC: Debt-ridden RCom awaits court approval to allow UVARCL bid

A Reserve Bank of India (RBI) missive not permitting asset reconstruction companies (ARCs) to bid for bankrupt companies had derailed the insolvency process of Anil Ambani Group-owned Reliance Communications (RCom). While the RBI is now planning to allow ARCs to bid for bankrupt companies, RCom’s resolution is now stuck in courts. Read more 
 

Adani Enterprises wind power project caught in Lankan political crossfire

A 500-megawatt (Mw) wind power project awarded to Adani Enterprises in March has become a bone of contention between ruling and opposition parties in Sri Lanka. The controversy over the Adani investment in the neighbouring nation stems from domestic power politics in which a bureaucrat has become collateral damage. Read more