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Bayer to acquire Monsanto in all cash transaction

Bayer to acquire Monsanto in all cash transaction

Sep 14,2016

Monsanto India announced that Bayer and Monsanto signed definitive agreement under which Bayer will acquire Monsanto for USD 128 per share in an all cash transaction.

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Nahar Spinning Mills to convene board meeting
Aug 04,2017

Nahar Spinning Mills will hold a meeting of the Board of Directors of the Company on 12 August 2017.

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Warren Tea to conduct AGM
Aug 04,2017

Warren Tea announced that the Annual General Meeting (AGM) of the company will be held on 11 September 2017.

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Akar Tools announces board meeting date
Aug 04,2017

Akar Tools will hold a meeting of the Board of Directors of the Company on 10 August 2017, for approval of the Audited Financial Results of the Company for the quarter ended 30th June, 2017, & to consider recommendation for appointment of Statutory Auditor of the Company

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Rajdarshan Industries announces board meeting date
Aug 04,2017

Rajdarshan Industries will hold a meeting of the Board of Directors of the Company on 12 August 2017, to consider and approve inter alia, the Un-audited Financial Results of the Company for the quarter ended June 30, 2017.

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Donear Industries to discuss results
Aug 04,2017

Donear Industries will hold a meeting of the Board of Directors of the Company on 14 August 2017.

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Gujarat State Fertilizers& Chemicals to convene AGM
Aug 04,2017

Gujarat State Fertilizers& Chemicals announced that the 55th Annual General Meeting (AGM) of the company will be held on 16 September 2017.

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Universal Office Automation schedules board meeting
Aug 04,2017

Universal Office Automation will hold a meeting of the Board of Directors of the Company on 11 August 2017, to consider the un-audited results of the Company for the quarter ended 30th June, 2017.

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Sinnar Bidi Udyog to convene board meeting
Aug 04,2017

Sinnar Bidi Udyog will hold a meeting of the Board of Directors of the Company on 12 August 2017, to take on record the Un-Audited Financial Results for the quarter ended 30th June 2017.

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Gujarat Hotels to hold board meeting
Aug 04,2017

Gujarat Hotels will hold a meeting of the Board of Directors of the Company on 14 August 2017, to consider and approve the Unaudited Financial Results of the Company for the first quarter ended 30 June 2017.

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United Bank of India announces board meeting date
Aug 04,2017

United Bank of India will hold a meeting of the Board of Directors of the Company on 12 August 2017, to inter alia consider and adopt the unaudited financial results of the Bank for the quarter ended June 30, 2017.

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Pasari Spinning Mills announces board meeting date
Aug 04,2017

Pasari Spinning Mills will hold a meeting of the Board of Directors of the Company on 11 August 2017.

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Swadeshi Polytex to convene board meeting
Aug 04,2017

Swadeshi Polytex will hold a meeting of the Board of Directors of the Company on 10 August 2017, to consider financial results for the quarter ended 30th June, 2017.

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Upsurge Investment & Finance schedules board meeting
Aug 04,2017

Upsurge Investment & Finance will hold a meeting of the Board of Directors of the Company on 10 August 2017, to consider the Un-audited financial results of the company for the Quarter and three months ended on 30th June, 2017;

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Hikal schedules board meeting
Aug 04,2017

Hikal will hold a meeting of the Board of Directors of the Company on 10 August 2017, to consider, approve and to take on record the Standalone Unaudited Financial Results of the Company for the quarter ended June 30, 2017.

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Banks may need 20% incremental provisioning for 50 large stressed assets: Study
Aug 04,2017

Banks may require an incremental provisioning of 20 per cent against cumulative debt of 50 large stressed assets worth over Rs.3 lakh crore in construction, power, metals and other sectors that constitute about half of the gross non-performing assets of the banking sector, noted a recent joint study by ASSOCHAM-Crisil.

The study also noted that while banks may have already provisioned for a part of these exposures, they need to adequately capitalise to absorb such losses which could fuel credit growth and support the next leg of economic growth.

It also impressed upon the need to address various challenges such as inter-credit conflicts, ability of large corporates to delay the recovery process, burden on the National Company Law Tribunal (NCLT)/ Debt Recovery Tribunal (DRT), roll-out of the ecosystem including adequate number of tribunals, insolvency professionals and information utilities, a limited timeline for the formulation of resolutions and access to the secondary market in case of liquidation for successful implementation of the IBC.

n++The success of the code hinges on strengthening its ecosystem, which will help in protecting the interest of stakeholders, instilling financial discipline among borrowers and create a robust platform to attract investors,n++ noted the ASSOCHAM-Crisil study titled IBC - Protecting stakeholders, improving ease of doing business.

It also said that the IBC has brought a sea change in insolvency resolution towards a creditor-friendly regime, thereby restoring the balance of bargaining power, which was hitherto with the debtors.

The code enhances the rights of a creditor (irrespective of the type, whether it is a financial or operational entity) and empowers in identifying bankruptcies and initiate resolution proceedings through an ecosystem that comprises a regulator, insolvency professionals, information utilities, and an insolvency fund.

n++Along with the governments ongoing structural reforms, an effective implementation of the code is expected to improve Indias ease of doing business and Global Competitiveness rankings significantly, as this is a critical parameter in ranking evaluation,n++ the report stated.

It further said that though the code is expected to face teething troubles before fully taking off, its stakeholders are expected to reap greater benefit in the long run.

Along with banks and ARCs (asset reconstruction companies), the code will benefit corporates, professionals and employees, boost investor confidence, and facilitate deepening of the domestic corporate bond market.

n++This will help improve the overall business environment and encourage entrepreneurship and innovation,n++ said the ASSOCHAM-Crisil study.

Noting that implementation of the bankruptcy framework and engagement with independent credit assessment firms could aid resolutions of stressed assets, the study said, n++The strengthening of framework would affect the volume of asset sales as banks are reluctant to take adequate haircuts.n++

However, it will lead to more cash-based sale of stressed assets, which, in turn, would necessitate higher capital. That would benefit larger ARCs.

The code will help in protecting creditor interest in the sense that a start-up firm that gets insolvent can be wound up on a fast-track basis within 90 days. This will not only help entrepreneurs initiate insolvency proceedings voluntarily but the capital can also be reallocated to efficient businesses.

As such over time, the code will help promote entrepreneurship and increase the role of professionals from various fields such as law, accountancy and finance.

Besides even employees and workmen will benefit from IBC as they too can initiate insolvency proceedings for unpaid dues and have greater lien in the distribution of liquidation proceeds.

On the banking front, the study has suggested for the banks to be more professional and proactive in management, especially in aspects related to the development of early-warning mechanism, astute credit monitoring, proactive commercial decision-making with respect to the way forward and elimination of inter-creditor conflicts.

Further, banks would also need to exercise professional judgement in the selection of appropriate IPs/advisors and not follow a n++lowest costn++ policy without consideration of technical credentials and experience commensurate with the complexity and magnitude of the situation.

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