Steel sector has turned out to be one of the major beneficiaries of IBC: ICRA Ltd
Financial creditors have realised close to Rs. 444 billion from these four CIRPs with an average haircut of about 47%.
Suraksha Realty hopeful of getting favourable vote of lenders, home buyers on Jaypee bid
A Committee of Creditors (CoC) on Saturday decided t...
Jet Airways crisis: Lenders keen on non-IBC resolution in case bidding process fails
Lenders of Jet Airways are in favour of a resolution out...
NCLAT directs ED to file final affidavit in BPSL assets attachment matter
A two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya also asked the ED to clarify about its role after the attachment of assets of Bhushan Power and Steel Ltd (BPSL). The NCLAT has directed to list the matter on December 12 for the next hearing. The appellate tribunal was hearing a batch of petitions, against the attachment of BPSL assets.
DHFL promoters gave personal guarantees to Rs. 80,000-cr Loans
DHFL became the first financial services company on Monday to be admitted to the bankruptcy courts after the rules were changed last month. The Reserve Bank of India has already superseded the board and appointed an administrator.
Essar Steel: Mittals seek immunity from probes
Worries stem from BPSL case, where ED attached assets of the company after it was taken over by JSW Steel.
Where companies are under huge debt pressure you tend to see white collar crime: Samir Paranjpe, Grant Thornton
"I think it’s very clear that both small and large companies are equally impacted today. So we are seeing extreme cases where very large companies are being affected by fraud and companies with turnovers of as little as 300 million rupees are also being impacted," he said.
First personal insolvency petition filed in Amaravati
Omkaram Venkata Ramana, who had stood personal guarantor to five firms that defaulted on Rs 38.66 crore of bank loans, filed the petition to initiate personal insolvency resolution process, which his counsel said would entitle him to an interim moratorium on all his liabilities.
ET Awards 2019: We’re willing to hear, react & intervene when necessary, says Sitharaman
The Union finance minister said the government is working with states to further rationalise Goods and Services Tax (GST) rates and will announce major infrastructure projects to provide an investment boost by the middle of December.
Reserve Bank sends DHFL to NCLT for debt resolution
First financial services company to go for bankruptcy resolution.
SBI refuses to fund Patanjali’s Ruchi Soya buyout on its own
As much as Rs 3,700 crore of the acquisition cost was supposed to have been funded by bank loans with Patanjali infusing Rs 600 crore from its own internal accruals. Bankers are also wary of funding the home-grown consumer goods company after rating downgrades by rating agencies Care and ICRA in October.
Essar Steel: Finally bankers expect money next month
On November 15, the apex court paved the way for ArcelorMittal to take over Essar Steel for Rs 42,000 crore, giving primacy to secured creditors in any bankruptcy resolution plan. The apex court over-ruled the appellate tribunal NCLAT which asked the banks to share the proceeds equally with the unsecured creditors as well.
Haldiram's, Vedanta, Indonesia billionaire in race for Videocon
The process to find a buyer for Videocon started in August. All parties have submitted formal expressions of interest (EoI) and will soon start due diligence.
NBFCs with Rs 500 cr assets can go for insolvency resolution
RBI can now seek resolution of NBFCs having assets worth of at least Rs 500 cr under the insolvency law.
Market Movers: What changed for D-Street while you were sleeping
The index formed a similar indecisive candle on the weekly scale. A hold above 11,850 level is a must for any upside.