Search Results for: bankruptcy

Essar Steel gets Rs 800 crore interim financing from Edelweiss Group

The interim financing will keep Essar Steel as a going concern till lenders and the IRP finalise a restructuring plan within 270 days.

Sep 7, 2017

Insolvency proceedings: Supreme Court stays NCLT order against Jaypee Infra

As of March 31, 2017, consolidated debt of the company stood at Rs 7,922 crore with a negative interest coverage ratio, which indicates that the company is not earning enough to repay its debt.

Sep 4, 2017

New Honda Jazz facelift, New Honda Jazz facelift images, New Honda Jazz facelift India

Honda reaches $605 million U.S. settlement over Takata air bags

Honda said the settlement covers 11.4 million vehicles currently under recall and 5.1 million more vehicles that may be recalled later.

Sep 2, 2017

Pay up or begone, Supreme Court tells managements of defaulting firms

SC ruled in favour of ICICI Bank in the case of Innoventive Industries which owes banks over Rs 950 crore.

Sep 2, 2017

arun jaitley, jaitley to meet bankers on 12 june, psu banks npas, bad loans, npa ordinance, gst implementation, it minister to meet head honchos

FM Jaitley to private debtors: Pay dues or allow others to take over

Last month, the Reserve Bank of India (RBI) initiated insolvency proceedings against 12 large corporate defaulters, who account for Rs 2 lakh crore, almost one-fourth of the country's bad loans.

Aug 31, 2017

rbi rule deposit of rs 5000 more than demonetisation modi govt currency ban

Down and out: Videocon, JP Associates, IVRCL may be dragged to NCLT's doors

Most are from the power and infrastructure sectors and are on RBI's second list of loan defaulters.

Aug 29, 2017

sbi bonus issue, sbi bonus history, sbi q4 results, sbi share price, state bank of india q4 results, sbi chairperson arundhati, sbi merger, sbi sensex

5,954 wilful defaulters face recovery action from PSU banks

Total outstanding loans due to public sector banks by wilful defaulters amounted to Rs 92,376 crore, according to the finance ministry data.

Aug 27, 2017

RBI Governor hinted PSU bank mergers as recapitalisation plans

RBI Governor Urjit Patel said that PSBs will need to take haircut on current exposure, and higher provisions requirement will affect the capital position of several banks.

Aug 20, 2017

China beats US in starting world's first meltdown-proof nuclear power plant

The fuel loading, which is the final step before the reactor starts operation, would place China as the first country in the world to begin running the most powerful plant.

Aug 19, 2017

Jaypee Infratech withdraws objections as NCLT admits insolvency proceedings

Various benches of NCLTs have so far admitted insolvency proceedings against 10 of the 12 identified companies, including Jaypee Infratech.

Aug 10, 2017

Insolvency proceedings approved for 10 out of 12 big defaulters

Jaypee Infratech has become the 10th defaulter against which the NCLT admitted insolvency proceedings.

Aug 10, 2017

Bad loans meet: Lenders to discuss future of defaulters identified by RBI

Most of the debt is unsustainable and so high that these companies won't be able to repay it in next 25-30 years.

Aug 7, 2017

NPA crisis: PSU banks write off bad loans worth Rs 81,683-crore in FY17

In contrast to the written-off amount of Rs 27,231 crore in 2012-13, when banks earned combined net profit of Rs 45,849 crore, the loan amount written off in 2016-17 trebled to Rs 81,683 crore when the banks combined profits were a mere Rs 474 crore.

Aug 7, 2017

SBI-led consortium orders forensic audit of Videocon's financial books

The debt restructuring process would commence only after KPMG concludes the audit.

Aug 4, 2017

Too many chits, too many lures will be addressed with new law: FM

The idea of the new pan-India law on chit funds is to ensure that those who are lured into these schemes by the marginally higher interest rates that they offer as compared to banks are not taken for a ride.