Current Affairs 7th November 2016

Current Affairs 7th November 2016 - Important Points

• 2016 BNP Paribas Masters Doubles title won by - Henri Kontinen and John Peers
• Who won 2016 WTA Elite Singles Trophy - Petra Kvitova
• Which company became first to get RBI approval for debt recast under S4A scheme - HCC
• Who has been elected as Member of International Law Commission of UN - Aniruddha Rajput

Current Affairs 7th November 2016 - Details

2016 BNP Paribas Masters Doubles title won by - Henri Kontinen and John Peers

Among Sports Current Affairs, On 6th November 2016, Henri Kontinen and John Peers won ATP World Tour Masters 1000 team title at the BNP Paribas Masters in Paris. They defeated Pierre-Hugues Herbert and Nicolas Mahut by 6-4, 3-6, 10-6.
Important to mention here that BNP Paribas Masters is a tennis tournament for male professional players held in Paris, France every year.

Who won 2016 WTA Elite Singles Trophy - Petra Kvitova

Among sports current affairs, On 6th November 2016, Petra Kvitova of Czech Republic won 2016 WTA Elite Singles Trophy after defeating Elina Svitolina of Ukrain at final held at Zhuhai, China.

Which company became first to get RBI approval for debt recast under S4A scheme - HCC

On 5th November 2016, Hindustan Construction Company (HCC) which is a constuction company became first firm of India to get Reserve Bank of India's (RBI) approval for debt recast under Scheme for Sustainable Structuring of Stressed Assets (S4A).
Under this debt recast of HCC, 52 percent of the debt was found to be sustainable and can be serviced as per original terms and conditions including interest rate and tenure. Out of the remaining 48 percent debt,  1000 crore rupees debt will be converted into equity for banks, which could eventually give them 25 percent stake in the company’s post-scheme equity capital.

Sustainable Structuring of Stressed Assets (S4A) Scheme :
The S4A scheme was launched by RBI to resolve the corporate debt problem and strengthen the lenders ability to deal with stressed assets and under this scheme, a company’s debt is bifurcated into two parts sustainable and unsustainable based on the cash flows of the company’s project.

Who has been elected as Member of International Law Commission of UN - Aniruddha Rajput

 On 4th November 2016, Aniruddha Rajput an Indian laywer was elected as a Member of International Law Commission (ILC). ILC is a body of legal experts of United Nations General Assembly (UNGA).
Aniruddha Rajput is not only first candidate from India in this top body but also youngest among the group elected as there are total 34 members elected.
Important to mention here that ILC was established by the UNGA in 1947 to undertake the mandate of UN to ensure promotion and progressive development of International law and its codification.