Clipped from: https://indianexpress.com/article/business/companies/ed-arrests-cox-and-kings-promoter-peter-kerkar-in-money-laundering-case-7069624/ Cox and Kings owes Rs 5,500 crore to banks and financial institutions and it is one of the top borrowers of Yes Bank
Category: IBC-SEBI
Bankers to make last-ditch attempt to get more cash from Lavasa’s bidders – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/services/property-/-cstruction/bankers-to-make-last-ditch-attempt-to-get-more-cash-from-lavasas-bidders/articleshow/79491232.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Three bids were received for the stuck project until the deadline of November 20 including one from a Pune-based realty developer Anirudh Deshpande
Reliance Capital defaults on interest payments on HDFC and Axis term loans – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/banking/reliance-capital-defaults-on-interest-payments-on-hdfc-and-axis-term-loans/articleshow/79495845.cmsSynopsis The company informed the exchanges that it failed to pay interest of Rs 4.77 crore to HDFC and Rs 0.71 crore to Axis
Can improve DHFL offer, forfeit deposit of those against recoveries: Adani | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/can-improve-dhfl-offer-forfeit-deposit-of-those-against-recoveries-adani-120112900205_1.html Piramal quoted Rs 23,500 crore only for the retail portfolio of DHFL while Hong Kong-based SC Lowy bid Rs 2,350 crore for SRA
Wadhawan moves NCLT against CoC, Administrator – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/wadhawan-moves-nclt-against-coc-administrator/article33187385.ece Says DHFL’s cash in hand, investment and real estate assets is more than ₹16,000 crore In the alternative to the above, Wadhawan (Applicant), who
DHFL suitors get time till Dec 10 to submit bids – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/dhfl-suitors-may-get-time-till-december-10-to-submit-bids/article33192879.ece Banks keen on higher value, experts say CoC can take decision within IBC norms The lenders to troubled Dewan Housing Finance Corporation Ltd
Pre-packaged: Viable route to insolvency–economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/pre-packaged-viable-route-to-insolvency/ The Insolvency and Bankruptcy Board’s proposal to allow companies to withdraw from the process of voluntary liquidation is pragmatic. It will facilitate revival.
Adani tops DHFL bid, says its bid gives maximum to lenders; rivals want it out of race – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/adani-tops-dhfl-bid-says-its-bid-gives-maximum-to-lenders-rivals-want-it-out-of-race/articleshow/79446899.cms?utm_source=ETTopNews&utm_medium=HP&utm_campaign=TN&utm_content=23Synopsis Adani Group, which had initially bid only for DHFL’s wholesale and Slum Rehabilitation Authority (SRA) portfolio, in the revised offer submitted on November
Hazy disclosures, vague reasons: how auditor exits continue to play with investor confidence – The Economic Times
Clipped from: https://economictimes.indiatimes.com/prime/corporate-governance/hazy-disclosures-vague-reasons-how-auditor-exits-continue-to-play-with-investor-confidence/primearticleshow/78858518.cms SynopsisNearly three dozen listed companies have seen auditor resignations this year. One of those cases, the UPL fiasco, highlights how patchy and insufficient
Need cautious approach in further IBC suspension extension beyond December 25: SBI MD – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/need-cautious-approach-in-further-ibc-suspension-extension-beyond-december-25-sbi-md/article32936473.ece IBC suspension beyond December 25 may give an impression that borrowers are fundamentally weak State Bank of India (SBI), the country’s largest commercial
DHFL Committee of Creditors to discuss four offers on Monday – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/money-and-banking/dhfl-committee-of-creditors-to-discuss-four-offers-on-monday/article32940635.ece?homepage=true This will be the first CoC meeting after the bidding process ended on October 17 The Committee of Creditors (CoC) to the beleaguered
Key debtors vow to pay, but banks wary – business news – Hindustan Times
Clipped from: https://www.hindustantimes.com/business-news/key-debtors-vow-to-pay-but-banks-wary/story-NowHoWMmfNAJMXjZGoxODL.html The Dhoot family has offered to repay ₹30,000 crore to lenders and take 13 out of 15 companies that it formerly controlled out
NCLAT: Discoms can’t cancel PPA amid corporate insolvency process | Business News,The Indian Express
Clipped from: https://indianexpress.com/article/business/nclat-discoms-cant-cancel-ppa-amid-corporate-insolvency-process-6825263/ The NCLAT agreed that the proposition that a power plant and its PPA “form one integrated economic asset” appeared to a rational one,
Creditors’ future uncertain as Amazon’s legal battle with Future Group drags on – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/creditors-future-uncertain-as-amazon-legal-battle-with-future-group-drags-on/articleshow/78780249.cms SynopsisRestructuring of debt is necessary as the classification of loans as NPA could deplete Future’s value and impact valuations, possibly putting the deal
Potential owners of Jet Airways are looking at a 90% plus stake, offer remnants to lenders – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/transportation/airlines-/-aviation/potential-owners-of-jet-airways-are-looking-at-a-90-plus-stake-offer-remnants-to-lenders/articleshow/78794738.cmsSynopsis Neither public shareholders nor Jet’s employees, except those retained by the new owners, stand to gain anything out of the deal, experts said.
‘Videocon can earn ₹6,000-cr. revenue’ – The Hindu
Clipped from: https://www.thehindu.com/business/Industry/videocon-can-earn-6000-cr-revenue/article32903555.ece Dhoot urges nod for promoters’ plan Videocon Industries can garner at least ₹6,000 crore in revenue in the first year after recommencing operations
Jet Airways 2.0 – Many challenges on the horizon still – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/news-analysis/jet-airways-20-many-challenges-on-the-horizon-still/article32894263.ece?homepage=true Jet Airways’ disastrous performance in FY2019 can be attributed to a sharp 14 per cent y-o-y jump in total expenses to ₹28,142 crore even
Videocon lenders may turn down Dhoots’ proposal to repay debt – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/videocon-lenders-may-turn-down-dhoots-proposal-to-repay-debt/article32894794.ece?homepage=true Lenders to Videocon Industries are unlikely to accept a proposal by the company’s promoters to repay about ₹30,000 crore for taking back control of
NCLT approves JSW Steel’s resolution plan for Asian Colour Coated Ispat Ltd – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclt-approves-jsw-steels-resolution-plan-for-asian-colour-coated-ispat-ltd/articleshow/78748365.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In the year 2018, ACCIL was part of the Reserve Bank of India’s second list of defaulters that banks were asked to take
Adani Group, Piramal among 4 bidders for DHFL, lenders stare at over Rs 60,000 crore write-off – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/adani-group-piramal-among-4-bidders-for-dhfl-lenders-stare-at-over-rs-60000-crore-write-off/articleshow/78735446.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In November, the Reserve Bank referred DHFL, the third largest pure-play mortgage lender, to the National Company Law Tribunal (NCLT) for insolvency proceedings.
aniltikotekar4sme.com 