The Serious Fraud Investigation Office (SFIO) has arrested former chief financial officer of Bhushan Steel Nittin Johri for fraudulent activities, including filing false documents with various banks, according
Category: IBC-SEBI
Jet Airways bidders show no expressions of interest–Economic Times
Bidders for Jet AirwaysNSE -12.46 % so far appear uninterested in following up on their expressions of interest, dealing a major blow to the early revival of
Deloitte: IL&FS board seeks punitive action against Deloitte, BSR
The government-appointed board of Infrastructure Leasing & Financial Services has proposed punitive action against Deloitte Haskins & Sells (DHS) and BSR & Co, part of the KPMG network, said
PNB ruined Gitanjali Gems to hide its misdeeds: Mehul Choksi – The Economic Times
The fugitive diamantaire said the employees of Gitanjali were harassed and its stocks and servers were confiscated New Delhi-Key accused in the PNB fraud case, Mehul
IL&FS accounts can finally be called NPAs: NCLAT green light to banks – The Financial Express
The NCLAT had in February prohibited banks from recognising any IL&FS group accounts as non-performing assets without first seeking approval from the tribunal. The National
Huge gap in 12 NPA cases’ dues with liquidation value: IBBI – The Economic Times
The resolution of 12 large accounts were initiated by banks as directed by the Reserve Bank of India (RBI). The 12 large non-performing assets (NPAs
NBCC: Jaypee Infra insolvency: Homebuyers want NBCC bid to be reconsidered; say no faith in private cos – The Economic Times
In 2017, NCLT admitted the application by an IDBI Bank-led consortium seeking resolution of Jaypee Infratech. Distressed homebuyers of debt-ridden Jaypee Infratech Thursday demanded that
Amrapali’s lawyers given flats & penthouses: Forensic auditors to SC – The Economic Times
The hearing in the matter remained inconclusive and would continue on May 8. In yet another startling revelation, the embattled Amrapali Group gave away flats and penthouses
Care rating: Indiabulls Housing Finance on credit watch – The Financial Express
The top 10 individual corporate loan exposures on a group basis constituted 44% of Indiabulls Housing?s tangible net-worth as on March 31, 2018, up from
Embargo lifted: Banks get NCLAT go-ahead to declare defaulting IL&FS accounts as NPAs – The Financial Express
The bench has observed that lenders must not withdraw support until a resolution is found of the IL&FS and its group companies. The National Company
Rs 7 trillion of corporate papers downgraded since start of IL&FS fiasco | Business Standard News
Mutual funds (MFs) and other lenders with an exposure to debt papers are feeling the heat as nearly Rs 7.5 trillion worth of corporate papers
Wilful defaulters must not be allowed to buy back their assets – The Hindu BusinessLine
The discussion paper on corporate liquidation process put out by the Insolvency and Bankruptcy Board of India last week has inexplicably left a backdoor open
IBBI streamlines insolvency professional’s ‘temporary surrender’ process – The Hindu BusinessLine
An insolvency professional (IP) may not find it easy to wriggle out of an existing transaction because of the difficult situations faced during the corporate
Krishnamurthy Subramanian: Fear of losing a company post IBC changing credit behaviour: Krishnamurthy Subramanian
Subramanian says the Insolvency and Bankruptcy Code is a big reform that is changing credit behaviour and calls for incentives for young businesses rather than
Lenders to take 52% haircut as Patanjali’s resolution plan for Ruchi Soya gets the go-ahead – The Financial Express
Ruchi Soya Industries was admitted into the corporate insolvency resolution process (CIRP) on December 15, 2017, based on application of financial creditors Standard Chartered Bank
Why Jet Airways revival is difficult: SBI reveals REAL hurdles for investors – The Financial Express
The top lender of ailing Jet Airways India Ltd. said the burden of reversing the grounded carrier’s negative net worth before it can fly again
Why Jet Airways revival is difficult: SBI reveals REAL hurdles for investors – The Financial Express
The top lender of ailing Jet Airways India Ltd. said the burden of reversing the grounded carrier’s negative net worth before it can fly again
Bad debt at US banks rises on higher credit card losses – The Hindu BusinessLine
For the biggest US banks, not all consumer debt is created equal. Credit card losses are outpacing auto and home loans at a rate not
patanjali: Lenders approve Patanjali’s Rs 4,325 cr bid for Ruchi Soya – The Economic Times
With the acquisition of Ruchi Soya, Patanjali will become a major player in soyabean oils and other products. In its first major acquisition, Yoga guru
Banks may get just a quarter of claims from 12 debt cases – The Economic Times
Banks would realise just about a quarter of their claims from 12 corporate debt resolution cases in January-March 2019, dashing hopes of higher bad loan recovery in the
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