Bankruptcy resolution of a portfolio company of Special Undertaking of Unit Trust of India or SUUTI has kicked up a storm. Against claims of over INR6,500 crore, the erstwhile Ranka group firm Modern Syntex has realised INR175 crore under a resolution plan approved by NCLT earlier this year. The SUUTI exposure to the company dates to years when it had subscribed to its debentures. While the resolution professional says that despite the low realization the company has been revived, there has been a concern.
A 98% haircut for SUUTI in Modern Syntex resolution plan raises eyebrows A former resolution professional has raised questions around valuable plant and machinery worth crores being stolen from Modern Syntex’s Vadodara premises and the lack of efforts on the part of SUUTI leadership to pursue these. Why flyers are denied free airport lounge access This weekend, many users took to social media saying they were denied lounge access. While Adani
2 mins read
Gift A Story
Share member-only stories with your friends or family and help them read it for free.
Gifting Limit Reached!
Hey , no more stories left for you to gift.
No worries! You will get a limit of 15 stories next month to share with your friends and family.
Buy low & sell high with access to Stock Rating, Upside potential, Analyst Recommendation and detailed stock reports.
2
BigBull Portfolio
Get to know where the market gurus invest & discover the opportunities to grow your portfolio.
3
Stock Analyzer
Evaluate a company based on 31 checkpoints spread across Solvency, Profitability, Growth, Valuation, Momentum & Risk.
4
ET ePaper - Print View
Read the PDF version of The Economic Times newspaper everyday.
5
ET ePaper - Digital View
Read the digital version of your daily newspaper delivered to your inbox every morning before 8AM.
6
Wealth Edition
Manage your money efficiently with this weekly money management guide, published every Monday.
7
ET GrandMasters
Learn from the winning strategies of industry leaders. Watch video lessons to know the secrets behind their success.
8
TOI ePaper Subscription
Get access to PDF & digital version of TOI newspaper.
9
ETPrime Exclusives
Read exclusive insights & stories across 20+ sectors written by a trusted team of journalists & analysts.
10
Investment Ideas & Recommendations
Grow your portfolio with a daily dose of investment ideas & stories.
11
Members-only Curated Newsletters
Get short, sharp & snappy newsletters directly in your inbox.
12
Exclusive Experience Crafted Only For ETPrime Members
Read more in less time. Enjoy seamless experience with a thoughtfully designed interface and 95% less ads.
13
TOI+ Subscription
Get to read 300+ exclusive stories every month & 6 weekly newsletters along with other benefits.
14
TimesPrime 1-Year Membership worth Rs.1199
Unique membership program with 20+ premium subscriptions like Disney+ Hotstar, SonyLiv, Youtube & more.
15
Docubay Subscription (1 Year)
Stream new documentaries from all across the world every day.
X
BACK TO TOP
Privacy Preference Center
When you visit any website, it may store or retrieve information on your browser, mostly in the form of cookies. This information might be about you, your preferences or your device and is mostly used to make the site work as you expect it to. The information does not usually directly identify you, but it can give you a more personalized web experience. Because we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.
Manage Consent Preferences
Targeting Cookies
These cookies may be set through our site by our advertising partners. They may be used by those companies to build a profile of your interests and show you relevant adverts on other sites. They do not store directly personal information, but are based on uniquely identifying your browser and internet device. If you do not allow these cookies, you will experience less targeted advertising.
Functional Cookies
These cookies enable the website to provide enhanced functionality and personalisation. They may be set by us or by third party providers whose services we have added to our pages. If you do not allow these cookies then some or all of these services may not function properly.
Performance Cookies
These cookies allow us to count visits and traffic sources so we can measure and improve the performance of our site. They help us to know which pages are the most and least popular and see how visitors move around the site. All information these cookies collect is aggregated and therefore anonymous. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance.
Strictly Necessary Cookies
Always Active
These cookies are necessary for the website to function and cannot be switched off in our systems. They are usually only set in response to actions made by you which amount to a request for services, such as setting your privacy preferences, logging in or filling in forms. You can set your browser to block or alert you about these cookies, but some parts of the site will not then work. These cookies do not store any personally identifiable information.
Refer & Earn
Get Unlimited Access to The Economic Times
ETPrime Membership
