Feb 29, 2020-Saturday

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Saturday, Feb 29, 2020

Bankruptcy court

Dec 12, 2019 11:48
According to one of the amendments, financial creditors will now have to meet an additional threshold to take a company to bankruptcy court. read more
Jul 14, 2019 09:23
Allahabad Bank said in a statement that it had told the Reserve Bank of India (RBI) that it had identified a fraud worth $259 million in Bhushan’s accounts. read more
Jul 07, 2019 10:27
PNB has been defrauded of over $2 billion in a separate scam that came to light last year. read more
Jun 06, 2019 13:52
Investors expect Modi to complete reforms started during his first term when India instituted a time-bound bankruptcy process, putting the business community on notice by stripping assets off the biggest defaulters and selling them. read more
Apr 03, 2019 16:50
Niti Aayog chief executive Amitabh Kant said such a move ensuring timely repayment and resolution of stressed assets is essential for long-term growth. read more
Feb 01, 2019 23:35
RCom, controlled by businessman Anil Ambani, owed banks $7 billion as of March 2017 when it last made public its debt level, and more to vendors. read more
Oct 30, 2018 16:31
India is examining options including an outright sale of Infrastructure Leasing & Financial Services Ltd., a person with knowledge of the matter said, as the government tries to stem defaults at the lender with $12.6 billion of debt. read more
Aug 27, 2018 18:42
The RBI in February introduced new rules and a 180-day timeline for banks to recast loans once payments are missed, scrapping previous methods that could take an indefinite amount of time. read more
Jul 23, 2018 18:55
More than 20 Indian lenders on Monday signed a pact aimed at faster resolution of bad loans, officials said, while more could join by the end of the week in what is the latest bid to cut record levels of soured assets in Asia’s third-biggest economy. read more
Jul 23, 2018 18:23
A government-appointed panel this month proposed the so-called inter-creditor agreement among other measures after criticism that at times smaller lenders in a lending consortium were creating roadblocks for speedier resolution. read more
Jul 10, 2018 11:49
The government is also working to put in place, as early as next month, new rules to hold accountable individuals, who stood guarantee for loans to a company, in case of a default. read more
Jun 19, 2018 09:20
Lavasa is a typical example of a large-scale infrastructure project gone bad, saddling its bankers with unpaid dues that are helping drive record losses at many Indian lenders. read more
May 07, 2018 13:45
Proposed resolution plans for insolvent firms must either bring value to the enterprise, or a meaningful recovery for creditors, said Rajnish Kumar, chairma, State Bank of India. read more
May 03, 2018 18:10
Lanco said it will file for potential liquidation after a debt resolution proposal from Thriveni Earthmovers Pvt Ltd had failed to get the minimum 75% creditors’ vote required for it to get the go ahead before the deadline expires on Friday. read more
May 03, 2018 16:19
Hindustan Construction Company declined 24.84% at the end of Thursday’s trade, making it the biggest loser on the S&P BSE 500 Index. The shares have slumped 53% this year compared with a 2.9% gain for the benchmark Sensex Index. read more