Friday, 6 November 2026

Why Saudi Arabia is extending $3 bn lifeline to Pak: Reasons Riyadh continues to bankroll Islamabad’s struggling economy

Saudi Arabia has extended a $3 billion financial support to Pakistan, offering Islamabad relief from external debt pressures. The rollover highlights deepening strategic ties between the two countries, amid expanding defence cooperation and the Makkah trilateral defence pact.

Mint

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View Market Dashboard Why Saudi Arabia is extending $3 bn lifeline to Pak: Reasons Riyadh continues to bankroll Islamabad’s struggling economy Saudi Arabia has extended a $3 billion financial support to Pakistan, offering Islamabad relief from external debt pressures. The rollover highlights deepening strategic ties between the two countries, amid expanding defence cooperation and the Makkah trilateral defence pact. Bhanu Pratap Published7 Nov 2026, 12:02 AM IST Prefer Liveminton Google AI Quick Read ✕ Wait for it… Log in to our website to save your bookmarks. It'll just take a moment. Yes, Continue ✕ Wait for it… Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.

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Brisbane Library House Auction: former private library cleared for sale; rebuild interest grows

After years of neglect, a three-bedroom home in Wynnum, Brisbane, has undergone a remarkable transformation. This property, once filled with a vast collection of books and memorabilia, required extensive teamwork to clear out its contents and evict wildlife. Now, it's being showcased as an exciting renovation or rebuilding opportunity in a sought-after neighborhood, with an auction date set for November 14, 2026, drawing potential buyers eager to invest.

Times of India·2 hours ago·3 min read

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Ousted Videocon promoter Dhoot declared bankrupt over dues worth Rs 12,668cr

NEW DELHI: From a Bajaj Auto dealership in Maharashtra to one of the largest consumer durable companies in the country, life has come full circle for Videocon Industries' ousted promoter Venugopal Dhoot who was declared bankrupt by National Company Law Tribunal (NCLT) a day before Dhanteras, reports Amit Anand Choudhary.Dhoot is one of the most high-profile individuals to be declared bankrupt under the decade-old Insolvency and Bankruptcy Code, with the Mumbai bench of NCLT directing him to file his statement of financial position within seven days with the bankruptcy trustee Asish Narayan, who will manage his estate.A bench of judicial member Vinay Goel and technical member Charanjeet Singh Gulati declared Dhoot bankrupt over dues of Rs 12,668 crore, including interest and penalty, as he had given a personal guarantee for credit facilities extended to Videocon Industries and borrowings connected with Videocon Telecommunications. The petition was filed by State Bank of India."We are satisfied that the petition complies with all the requirements prescribed in Section 123 of the Code. Therefore, we consider it proper to admit this petition and pass the following orders: Venugopal Nandlal Dhoot, the personal guarantor herein, is declared as bankrupt," the tribunal said in its order.The bankruptcy trustee will issue a public notice inviting claims from creditors. The trustee will also handle administration and distribution of the estate.The development is bad news for promoters who had availed loans based on personal guarantees, a norm for corporate loans in the last three decades, but subsequently lost control over their companies as IBC was used for repeated defaults in repayment of dues. Join conversation View All Comments → Share your thoughts in the comments Insightful Agree Disagree Skeptical Concerning Promising Worth Reading Big Development Post Comment Be respectful · TOI community guidelines While provisions related to personal guarantors were notified in Dec 2019, till last June, close to 5,200 applications had been filed for initiation of personal insolvency of which 5,135 were filed with NCLT and the remaining 51 went to debt recovery tribunals. Of the 64 cases that have been approved, the repayment plans have yielded Rs 234 crore -- 1% of the admitted claims, official data showed.Unlike corporate insolvency, where a resolution professional is appointed by NCLT when the case is admitted and a resolution entity then takes over the company, in case of personal bankruptcies, the guarantor has to prepare a repayment plan, which needs to be approved by the tribunal.

Times of India·2 hours ago·2 min read

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Sensex up 10.6% in 7-session pre-Diwali rally, best in 35 yrs

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Times of India·2 hours ago·1 min read