ENARAI FINANCE IN DOLDRUMS
Article Abstract:
Enarai Finance Ltd of Mumbai is in trouble due to locking up funds in lease or hire purchase assets. Depositors of the non banking finance company believe that the company has been investing deposits in unrelated business. Interest warrants have not been honored for 1997 and payments on NCDs since April. Enarai has sought permission from the Company Law Board for rescheduling its deposit payments and interest warrants on non convertible debentures. Its abridged financial statement reveals current liabilities and provisions at Rs70.09 crore against an equity of Rs8.23 crore and reserves of Rs10.61 crore and unsecured loans at Rs18.34 crore. The net fixed asset was Rs35.28 crore for the period ended March 31, 1996. (uh)
Comment:
Is in trouble due to locking up funds in lease or hire purchase assets
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
GESCI INTEGRATES TREASURY FUNCTIONS FOR INDIA OPERATIONS
Article Abstract:
GE Capital Services India (Gesci), the wholly-owned subsidiary of General Electric Capital Corporation of the US, has integrated all its treasury operations for all GE Capital entities functioning in India. This means that the treasuries of GE Capital International Services, GE Transportation Financial Services, Countrywide Consumer Financial Services, Gesci and Maruti Countrywide have been integrated. The treasuries of 14 other GE entities operating in India like Godrej-GE Appliances and Wipro-GE Medical Systems have not been integrated as they are mainly equity funded companies with limited treasury operations. Gesci says that the integration will help in diversification of risks and enable it to get better rates from the market. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
ICICI TO KEEP OFF GLOBAL CAPITAL MARKET THIS FISCAL
Article Abstract:
Industrial Credit and Investment Corporation of India (ICICI) has decided against entering the international capital market for external commercial borrowings (ECBs) during 1998-99. It has decided to rely on rupee swaps and existing multilateral credit lines to meet forex requirements. It will review the rupee's status during February 1999 before deciding on ECBs. ICICI has a multilateral credit line from World Bank and Asian Development Bank totaling $200 million. (gs)
Comment:
Decides against entering international capital market for external commercial borrowings during 1998-99
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: AMCs FACE BIG LIABILITY TO KEEP RETURN PROMISE PRUDENTIAL-ICICI ASSET MANAGEMENT LAUNCHES FLIP
- Abstracts: SUN PHARMACEUTICAL INDUSTRIES RELIANCE INDUSTRIES: THINK GLOBALLY ACT LOCALLY
- Abstracts: GLAXO INDIA: THE TONIC BEST BUYS IN A FALLING MARKET: NESTLE FINOLEX GROUP: MISPLACED INTERESTS!!
- Abstracts: TVS-SUZUKI POSTS 27% INCREASE IN H1 TURNOVER. VP, GM OF GENERAL MOTORS INDIA ELEVATED GOVERNMENT, SUZUKI PATCH UP; BHASKARUDU'S TERM CURTAILED
- Abstracts: PLANETASIA TO DIVEST STAKE TO VENTURE CAPITAL FIRM. SANMAR SET TO BUY AMERICAN REMEDIES' BULK DRUG PLANT. MAX INDIA CUTS STAKE IN GB VENTURE TO 25.1%