Sitharaman said the government will contribute ~10,000 crore in setting up a special window to provide last-mile funding for unfinished housing projects that haven’t turned into non-performing assets (NPAs) and are not facing proceedings at the National... read more

Finance minister Nirmala Sitharaman said the government will contribute Rs 10,000 crore in setting up a special window “to provide last mile funding for housing projects which are non-NPA [non-performing asset] and non-NCLT [National Company Law Tribunal]... read more

The National Company Law Tribunal admitted and initiated the insolvency proceedings following a plea by one of the flat buyers last month. read more

The Supreme Court of India delivered its landmark judgment in the Insolvency & Bankruptcy Code (IBC) case reaffirming the rights of homebuyers which was challenged by a consortium of builders. read more

A two-member principal bench, headed by President Justice M M Kumar, admitted a plea filed by five flat buyers who had booked homes in the company’s Lotus Zing project in Noida, Uttar Pradesh. read more

IDBI Bank, the prime lender to JIL, which has around 18 per cent vote share is already against the bid on the ground of the resolution plan being “conditional”. read more

The insolvency and bankruptcy code may be the answer to the airline’s crisis read more

ArcelorMittal, which has been engaged in a drawn-out attempt to acquire Essar Steel since 2017, had made a 420 billion rupee ($5.99 billion) bid for the bankrupt Indian steelmaker. read more

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

SBI is working with the founders of several mid-sized companies to restructure loans and escape bankruptcy proceedings, said Kant, who joined SBI in 1983 and was previously the lender’s chief financial officer. read more

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The Ruia family has made a last-ditch effort to avert losing its flagship company Essar Steel Ltd to Lakshmi Mittal’s ArcelorMittal SA. read more

The NCLAT order came on an urgent petition moved by the ministry of corporate affairs after the Mumbai bench of NCLT had turned down its plea for 90 days moratorium over the loans taken by the IL&FS and its subsidiaries. read more

he dramatic move, which unfolded within the span of a hectic day in Mumbai, underscores the government’s concern about IL&FS’s defaults spreading to other lenders in the world’s fastest-growing major economy. read more

The government told the National Company Law Tribunal that it wants to take control of IL&FS by “sunset” and appoint 10 directors on a board it constitutes read more