Management Control

Management Control News

PFC, REC merger hits roadblock as amalgamation to violate RBI norms on debt exposure of state-owned shadow banking firm
Business

PFC, REC merger hits roadblock as amalgamation to violate RBI norms on debt exposure of state-owned shadow banking firm

In March 2019, PFC had completed acquisition of a majority stake in REC by transferring Rs 14,500 crore to the government with hope of merger of the two firms in 2019-20.

Nasim Zaidi quits Jet Airways board 7 months after joining airline; cites personal reasons, time constraints for exit
Business

Nasim Zaidi quits Jet Airways board 7 months after joining airline; cites personal reasons, time constraints for exit

Nasim Zaidi, the former Chief Election Commissioner and ex-civil aviation secretary, joined the Jet Airways board in August last year.

PFC allays investor concerns over govt stake buyout in REC, says acquisition deal size yet to be finalised
Business

PFC allays investor concerns over govt stake buyout in REC, says acquisition deal size yet to be finalised

On 20 December, the PFC's board gave in-principle approval to the acquisition of the REC, it said.