Business

India's Insolvency and Bankruptcy Code is quite a positive reform for the financial sector, especially for state-run banks heavily burdened with stressed assets, as it will give creditors a legal path for recovering their dues in a time-bound way, Japanese financial services firm Nomura said in a report....

Managing director Gautam Bhalla, and the group's directors Anil Bhalla and Gaurav Bhalla have been booked under Sections 406 (breach of trust) and 420 (cheating) of the Indian Penal Code at Sector 29 police station here....