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Business & Finance News

Anil Ambani files adjournment plea before ED in probe against Rana Kapoor

Reliance Group Chairman Anil Ambani has filed an adjournment application and sought much more time to show up ahead of the Enforcement Directorate (ED) in connection with the ongoing dollars laundering probe linked to Yes Lender co-founder Rana Kapoor.

The ED had summoned Ambani in connection with the probe towards Kapoor and his spouse and children members.

In a statement issued final 7 days, the Reliance Group had denied any inbound links with Kapoor, his spouse and children or entities managed by them.

“Reliance Group states it has NIL immediate or indirect exposure to Rana Kapoor, Former CEO of Yes

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Business Executive

Newspaper Publisher McClatchy Files for Bankruptcy

Newspaper publisher McClatchy Co. has submitted for Chapter 11 bankruptcy security as it seeks to restructure more than $seven hundred million in personal debt.

The organization publishes 30 newspapers which include The Miami Herald, The Kansas Town Star, and The Sacramento Bee.

Pending court docket approval, sixty% of its personal debt would be eliminated and regulate of the organization would be presented to McClatchy’s biggest creditor, the hedge fund, Chatham Asset Management.

Chatham Asset Management also owns a bulk stake in the National Enquirer and Postmedia, the biggest Canadian newspaper chain.

“When regional media suffers in the experience of market

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