Companies failing to meet loan recast deadline may have to cede control

NEW DELHI: Companies seeking easier terms on their loans face the prospect of ceding management control to lenders under a new scheme being considered by the finance ministry and the Indian Banks’ Association (IBA). Further, promoters of a company will … Continue reading

Foreign acquisitions, debt a scourge for cash-rich IT firms like 3i Infotech, Firstsource

In the autumn of 2007, business processing outsourcing (BPO) firm¬†Firstsource Solutions was on a high. It had just announced the second largest acquisition in the history of the Indian outsourcing industry — that of US-based MedAssist Inc for $330 million. … Continue reading