News digest: Stressed assets, RCom gets relief, Kerala floods, and more

Power sector players have approached the courts against the RBI, with a plea to give extra time for working on resolution package

Clock is ticking for Rs 3.8 trillion stressed assets

The fate of about 70 big-ticket stressed accounts with loans of over Rs 3.8 trillion is uncertain as the deadline of August 27 for firming up resolution plans for them approaches. Failing to stitch a plan might leave lenders with no choice but to take these companies to the bankruptcy court. Read more

RCom gets relief from overseas bondholders

In a development that takes it closer to averting bankruptcy proceedings, Reliance Communications (RCom) has secured approval of its overseas bondholders for the revised terms. The Anil Ambani-owned company had defaulted on a $300-million bond last year. Read more

Tata Sons can’t force Mistry to sell stake: NCLAT 

The National Company Law Appellate Tribunal (NCLAT) on Friday asked Tata Sons not to force its former chairman Cyrus Mistry to sell his shares in the company till his appeal is pending, but refused to stay its conversion into a private company. Read more

QR codes on drug packages on cards

Consumers of medicines might soon benefit from QR codes on packs of drugs, which will help in implementing price revisions quickly. A proposal to put QR codes on packs of drugs and medicines was mooted at a meeting in the Prime Minister’s Office earlier this week, according to sources. Read more

US CEOs wary of Trump’s immigration policy

Dozens of top US business leaders including Apple’s Tim Cook, JPMorgan Chase & Co.’s Jamie Dimon and Pepsico’s Indra Nooyi signed a letter expressing “serious concerns” about the Trump administration’s immigration policy changes and their potential to undermine economic growth. Read more