The ICICI Bank-led banking consortium to ABG Shipyard has declared its Rs 14,000-crore exposure to the company as a ‘fraud’ account. State Bank of India (SBI), ICICI
Category: IBC-SEBI
Essel Finance: Adani Capital acquires Essel Finance’s MSME loan business – The Economic Times
MUMBAI: Adani Capital Pvt. Ltd, the NBFC arm of the Adani Group, focused on lending to small & micro entrepreneurs, has acquired Essel Finance’s MSME loan business. The business has a secured loan book
Governing unlisted firms | Business Standard Editorials
The government is reportedly working on a Takeover Code for unlisted companies. Unlike listed ones, transfer of shares in unlisted firms in India now happen on the basis of
The Bankruptcy Code isn’t broken, but it still needs fixing – The Economic Times
By Arvind Panagariya & Rajeev Mantri Two features of the regulatory regime have been central to the current malaise in India’s financial sector. First, until 2015, contrary to
Budget 2020: Govt needs to strengthen ARCs; provide stimulus to the voiceless sector–Business Today
ARCs need a licence to operate and are regulated by the Reserve Bank of India Asset Reconstruction Companies (ARCs) have been institutionalised through central legislation,
Axis Bank files insolvency plea against RPower arm – The Economic Times
NEW DELHI: Reliance Power on Tuesday said one of its lenders Axis BankNSE -1.32 % has initiated insolvency process against its subsidiary Vidarbha Industries Power Ltd for
CBI arrests insolvency resolution professional appointed by NCLT – The Economic Times
NEW DELHI: CBI has arrested an insolvency resolution professional (IRP) appointed by the NCLT and another person for allegedly receiving a bribe of Rs 3.5 lakh from a consultant by threatening
Not a substitute for a bond market–Economic Times
It is welcome that National Investment and Infrastructure Fund (NIIF) is set to launch a non-bank lending arm, Aseem Infrastructure Finance (AIFL). The move would
Uco Bank to on board fintech firms for borrowers’ input – The Economic Times
KOLKATA: State-owned Uco BankNSE -0.62 %, which has long been saddled with high bad loans, is planning to on-board new-age fintech firms for improving underwriting standards and credit
Lenders put cash flows of about 500 stressed companies’ under lens – The Economic Times
Indian banks have fast-tracked the process of roping in monitoring agencies to track last mile usage of bank loans to plug siphoning of bank funds.
New payments formula for creditors in the works – The Economic Times
NEW DELHI: The government is considering a new formula for payments to creditors of distressed companies resolved through the insolvency and bankruptcy law, which would give a better deal to unsecured
Bad loans swell at India shadow bank Altico | Deccan Herald
Bad loans probably ballooned last quarter at Altico Capital India Ltd., according to people familiar with the matter, a lender that’s seen as a barometer
From Indian Bank’s negligence to patent case, here are the key court orders | Business Standard News
In motor accident claims, even employed sons and married daughters can apply for compensation for the death of their working mother, the Supreme Court ruled in its
Unitech promoters diverted money of home-buyers and banks to off-shore tax havens: Audit report – The Economic Times
NEW DELHI: Forensic audit of Unitech Ltd, which was done on the orders of the Supreme Court, revealed massive diversion of funds by the company and
Bad loans provisioning must not be based on trite formula: Sunil Kanoria | Business Standard News
Sunil Kanoria From liquidity crisis in the NBFC sector to slowdown in the economy, in the last one year Srei Infrastructure weathered many crisis situations. Sunil Kanoria, vice-chairman
NPAs: Ways to deal with them | Deccan Herald
The non-performing assets (NPA) of the banks are mainly attributable to bad loans of banks. Most of these are white-collar crimes committed by the rich and
Essar resolution to have significant impact on financial ecosystem: Satish Gupta, Essar’s Resolution Professional – The Economic Times
“The judicial interpretation of the Code over the last few years has brought clarity on various issues and infused positive behavioural change as required in
IBBI amends voluntary liquidation process regulations – The Economic Times
NEW DELHI: A liquidator will have to deposit unclaimed dividends and undistributed proceeds in a separate account before seeking dissolution of a corporate debtor under
Bad loan: In rare move, India’s top bad-debt buyer eyes consumer loans–Economic Times
By Anurag Joshi and Saloni Shukla India’s massive pile of bad business debt has kept asset-reconstruction companies busy in recent years. But as signs emerge
MSME sector: Current NPA norms are absurd, highly counterproductive: Animesh Saxena, FISME President – The Economic Times
Exporters find it very difficult to enter into forward contracts due to prevailing uncertainty over the fate of MEIS scheme. Employing 40% of country’s workforce,
aniltikotekar4sme.com 