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SumanSpeaks Capital Markets & Geopolitical Intelligence  ·  Estd 2006   Insolvency Law · Corporate Accountability When the Law Works Exactly as Designed — And Still Feels Wrong ₹22,006 crore in personal guarantees. Settled for ₹6.5 crore. Approved 80.81% to a minority that included two public sector banks — with the tribunal's own bench divided before a tie-breaking member stepped in. Subhash Chandra (Goenka), founder of the Essel Group and promoter emeritus of Zee, has settled a personal guarantee liability of ₹22,006 crore for ₹6.5 crore. The National Company Law Tribunal approved the plan this week. The case began small. In 2022, Indiabulls Housing Finance — now Sammaan Capital — moved against Chandra over a personal guarantee on a ₹170 crore loan to Vivek Infracon. By the time the insolvency plea was admitted in 2024, admitted c...
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Fertiliser  Subsidy Backlog is likely to get reduced in CY20
Of the total budgetary allocation (Rs. 800 billion in the Union Budget for FY2019-20), GoI had released nearly 84% by the end of October 2019.

Nirmala Sitaraman GoI needs to increase the budgetary allocation in the upcoming Union Budget for FY2020-21 to around Rs.100 billion in order to reduce the subsidy backlog.

The total requirement of the fertiliser subsduy which stands at around ~Rs. 1250 billion.

The increased budgetary allocation if continued for a couple of years will wipe out the subsidy backlog and pave the way for implementation of the true form of Direct Benefit Transfer (DBT) in the fertiliser sector.

The outlook for fertiliser sales in the current rabi season remains healthy with DAP/NPK offtake expected to grow at a robust pace as there has been significant moderation in the retail prices Y-o-Y driven by a fall in the raw material prices. Urea demand is expected to remain stable as the offtake by farmers remain more or less uniform , given fixed and low retail price.

----- Indiainfoline (Edited). 

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