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  NCLT Order on Mr.Subhash Chandra's liability as Personal Guarantor Dissenting banks have grounds to challenge News: 1. The National Company Law Board (NCLT) has allowed Zee Group founder and Chairman Subhash Chandra's (Mr. Chandra) plan to repay just ₹ 6.5 cr. against the admitted claims of ₹22,006 cr. This amounts to a recovery of around 0.03% of the admitted claims. 2. Mr. Chandra said the claims against him as personal guarantor were just ₹3,922 cr. and the claims pertain to, standing as personal guarantor to M/s.Vivek Infracon, Spirit Textiles and Churu Enterprises. He also said ₹620 cr. has already been settled and the borrowing entities had offered to pay ₹1,113 cr. to multiple lenders. 3. Scheduled Commercial Banks (SCBs) (both public and private) are considering an appeal against the NCLT's decision. Impact: There is a wide spread impression that huge haircuts are witnessed in the lenders' books, in the resolution process under IBC. The debtors walk away with...

Overvaluation of NSE/BSE stocks: An example Last week, our Parliament passed an amendment to the Payment and Settlement Systems Act 2007. This enables the government to allow charges on digital payments including UPI transactions, which are free now. The Finance Minister (FM) clarified that person-to-person UPI payments will remain free and the consumers will continue to pay through UPI, free of charge. However, the FM did not rule out introduction of  merchant discount rate (MDR) on limited merchant transactions, in future, above a prescribed threshold, which might be recovered from merchants. This pushed the market price of the shares of the banks and payment service providers (PSPs) positively in the last week. T he stocks of One 97 Communications Ltd. (Paytm)  witnessed an increase of ₹ 144 (10% ) on 10th August 2026 and closed at ₹ 1585. (previous close ₹ 1441). For the week ended 14th Aug' 26, the share price moved up further and closed at ₹ 1604.   I was surpr...

  Pause repo rate and maintain stance: Is there any other option for RBI MPC? The third bi-monthly review meeting of the Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) for the current financial year (FY 26-27) starts tomorrow. Going through the data of the following important parameters, which get discussed in the RBI MPC meeting, and the action of some major global central banks in the last few days, makes one feel that nothing concrete emerged since then to compel the MPC to vote for a change in the repo rate/monetary stance. 1. The CPI inflation is on the rise since Dec'25 and reached a high of 4.38% in June'26. But the Q1FY206 actuals at 3.93% is much less than that was projected at 4.1% by RBI MPC. It is important to note that the committee has already projected the CPI inflation to be above the 5% in the remaining three quarters of FY 26-27. 2. The factory output growth, based on the new series of Index of Industrial Production (IIP) with base year of 2022...