Jet Airways owes more than Rs 8,000 crore to a consortium of banks led by the State Bank of India. In a major setback to
Category: IBC-SEBI
New NPA norms balanced, offer banks, borrowers a big breather – The Economic Times
Analysts at rating agency CrisilNSE 1.24 % and American brokerage BofA-ML Monday termed the new bad loan resolution framework issued over the weekend as “balanced” as it gives a
IL&FS may file contempt plea against lenders for withdrawing Rs 800cr during moratorium – The Economic Times
Lenders must not withdraw support until a resolution is found of the IL&FS and its group companies. Debt-ridden IL&FS is likely to file a contempt
Jaypee Infra insolvency: Lenders reject NBCC bid — key details – The Financial Express
As many as 13 banks and over 23,000 homebuyers have voting rights in the committee of creditors (CoC) of Jaypee Infratech. A majority of Jaypee
Chartered accountants facing ‘most heat today’ as norms are strong: Corporate Affairs Secretary Injeti Srinivas – The Economic Times
Amid instances of frauds at companies, chartered accountants are facing the “most heat today” as strong auditing and accounting standards are in place, according to a senior government official. The remarks
MCA to look at new framework for credit rating agencies for strong corporate governance – The Economic Times
The Ministry of Corporate Affairs is likely to take a relook at a new framework of credit rating agencies as a strong corporate governance structure is essential for a
Revised guidelines on bad loans will sustain improvement in credit culture: RBI Governor Shaktikanta Das – The Economic Times
RBI Governor Shaktikanta Das Saturday said revised guidelines to deal with stressed assets will sustain improvement in credit culture as it provides for additional provisioning, a strong
Jet Airways fallout: Cross-border insolvency norms to be amended – The Financial Express
Last month, the lenders and management of Jet Airways were in a fix over the legal implications of a Dutch court declaring the defunct airline
BoB puts accounts worth over Rs 9k cr on block as NCLT process gets delayed – The Economic Times
The bank, which has become the third largest lender after it amalgamated Vijaya Bank and Dena Bank with itself in April this year, has narrowed
RBI’s new bad loan norms incomplete–Economic Times
The Reserve Bank of India’s (RBI) replacement for the February 12 Circular, which the Supreme Court had struck down on technical grounds, does not really
Resolution reset – The Hindu BusinessLine
RBI’s revised debt management rules must be accompanied by systemic reforms The RBI’s Prudential Framework for Resolution of Stressed Assets, a diluted version of a
RBI circular | Bad loans: RBI issues revised circular on resolution of stressed loans–Economic Times
RBI has now said that approvals of 75 precent of creditors would now be required for resolution of bad assets. Two months after the Supreme
ET View: New RBI Circular offers defaulters little wiggle room – The Economic Times
Companies have been lobbying to avoid that initial labelling as a defaulter. That wish has not been granted. The new Prudential Framework for Resoluton of
RBI circular a welcome step; provides more freedom to bankers: Indian Banks’ Association – The Economic Times
The Reserve Bank’s new circular for resolution of stressed assets is propelled by provisioning requirements and gives more freedom to bankers in taking decisions, Indian Banks’
RBI revised framework offers some leeway to defaulters — check new rules – The Financial Express
Lenders must enter into an inter-creditor agreement (ICA) to to work on the resolution and also set out the rights and duties of majority lenders,
Individual bankruptcy: Draft rules propose mediation over litigation | Business Standard News
For the first time in India, debtors and operational creditors will be able to trigger insolvency once the individual insolvency code is notified Ruchika Chitravanshi Last
RBI issues revised norms to deal with stressed assets – The Hindu BusinessLine
Gives lenders 30 days to review an account in case of default Following the quashing of its ‘revised framework for resolution of stressed assets’ by
RBI lobs ball in banks’ court to deal with resolution – The Hindu BusinessLine
The much-awaited revised version of the contentious February 2018 circular, is a less stringent framework to deal with stressed assets. The new directive does away
RBI issues revised norms to deal with stressed assets – The Hindu BusinessLine
Gives lenders 30 days to review an account in case of default Following the quashing of its ‘revised framework for resolution of stressed assets’ by
RBI may shun sectoral exceptions, ease timelines for stressed assets – The Economic Times
The Reserve Bank of India is unlikely to announce special sectoral exceptions in its new circular on stressed assets, contrary to demands of power, sugar, shipping and
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