Reliance Industries European unit Trevira files application for insolvency
Reliance Industries Ltd (RIL), India's largest petrochemicals company, said its European unit Trevira GmbH has filed an application for insolvency proceedings with a restructuring plan with the Augsburg Court in Bavaria, Germany.

In a release to the Bombay Stock Exchange, RIL said Trevira, one of the largest polyster fibres manufacturer in Europe, was under pressure due to industrial...

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Accounting Fiction

Why are we lowering already low accounting standards?

It is time the annual reports of Indian companies carried a disclaimer that says ‘Any resemblance to reality is merely coincidental.’ I am always amused by the two-faced statements that emanate from both, government and private companies, about the disclosures in accounts. I am talking about the flexible accounting standards followed by...

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NTPC Q4 net profit up at Rs21.1 billion on robust revenues

National Thermal Power Corporation Ltd (NTPC), India's largest power generator, reported a higher fourth quarter net profit on robust revenues.

In a filing to the Bombay Stock Exchange, NTPC said for the quarter to end-March, its net profit grew Rs21.1 billion from Rs13.4 billion as total revenues, including electricity sales, rose to Rs 124.81 billion from Rs114.87 billion, same period last...

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