Business
ICRA places ratings of PFS under watch with negative implications
Published
3 years agoon
By
Digital Team
Rating agency ICRA has placed the ratings of PTC India Financial Services Ltd (PFS) under surveillance, negatively impacting the resignation of three of the company’s independent directors.
Such events (resignations) may affect business operations and investor and lender confidence in the company in the short to medium term. ICRA said in a statement that the changes could also affect the company’s ongoing asset quality-related resolutions. Bonds and long-term bank financing are rated ‘A+’, while short-term bank financing and commercial paper are rated ‘A1+’.
Three directors – Kamlesh Shivji Vikamsey, Thomas Mathew T and Santosh B Nayar – resigned on 19 January 2022 due to corporate governance lapses. PFS refuted the allegations and said it had been adhering to best corporate governance practices under the guidance of its promoters (PTC India Ltd), regulators and the Indian government.
ICRA said it favourably noted that the liquidity position of PFS is now adequate with liquidity on the balance sheet of Rs 4.1 crore against repayments of Rs 400 crore by March 2022.
ICRA will continue to monitor developments. Appropriate rating action will be taken when there is more clarity from the new board, top-level findings, implications for incremental funding and business growth prospects.
Last week, another rating agency, CARE, said it would continue to monitor the results of an internal investigation and any possible impact of the resignation on PFS’ financial performance and its liability franchise.
The Securities and Exchange Board of India (Sebi) has asked PFS to submit an Action Report (ATR) within four weeks on corporate governance matters and issues raised by resigning directors. The head of the capital markets regulator instructed companies to address these issues before holding a board meeting.
Complete News Source : Business Standard
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$92.8 million
Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…
Published
2 months agoon
January 30, 2025By
India
Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.
The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.
The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.
Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.
Reunion After 14 Years
This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.
About ‘Bhooth Bangla’
“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.
Anticipation and Fan Reactions
The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.
As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.
For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.
Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”
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